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Tax season can be a period of new possibilities – especially when it comes down to what to do with your refund or, on the flip side, how to settle your bill.
When you think about your childhood, do fond memories of family vacations flood your mind? There’s been a resurgence of family vacations – multigenerational trips where parents, adult children and even grandchildren plan an adventure together.
As wealth grows, so does the desire to increase charitable contributions – and leave a legacy of generosity. Involving your family in such a noble effort can bring even greater joy. It’s a heartwarming feeling when you pass down your value of helping others, to live on long after you’re gone.
Join all of us at Aspire Wealth Group in congratulating Jason for being named to the 2025 Raymond James Chairman’s Council!
How in the world is it almost Thanksgiving?! When my wife and I were expecting our first child, everyone told us how quickly time would fly, but I never imagined THIS fast. Our son, Louie, was born in April this year and quickly made me feel just as naive as he is.
When it comes to giving back to the community or supporting a cause, it's essential to do your due diligence before donating to any organization.
The benefits of a purpose-driven life don’t dissipate when you retire. Rather, without the imposed daily and weekly structures of the working world, it may be even more important to find purpose during this distinct stage of life.
Family coach and author Roy Williams surveyed more than 3,000 families and found that over 90% of family wealth transfers fail by the end of the third generation. But in this context, what does “fail” really mean?
The uses for artificial intelligence (AI) are seemingly endless. AI can anticipate the next song we’d like to hear, break down advanced concepts into easy-to-understand terms and help companies operate more efficiently with automated processes. But it can also be used to support unethical behavior or illegal practices, like cheating in school or committing outright fraud – especially generative AI, which can create new content like text and images through deep learning to gain access to money or sensitive data.
The Social Security Administration has announced a cost-of-living adjustment (COLA) to recipients’ monthly Social Security and Supplemental Security Income benefits. Nearly 68 million Americans will see the 2.5% increase in their payments beginning in January 2025.
Inside this digital issue, you’ll find the latest news and updates from our team, explore exciting places for fall adventures, and read insightful articles. Discover how we're making a positive difference in the communities we serve. And be sure to try the delicious recipe for pumpkin muffins with maple cream filling!
Managing debt can feel overwhelming, but it’s a crucial step towards financial stability. Whether it’s credit card debt, student loans, or a mortgage, understanding how to handle your obligations can make a significant difference in your financial health.
Choosing to work with a financial advisor can make a positive difference in your current and future life – and even for the next generations of your family. Your goals of building and preserving wealth, enjoying a comfortable retirement, and leaving a legacy are dependent on how well your financial matters are managed.
An emergency fund is a financial safety net designed to cover unexpected expenses or financial emergencies. It typically consists of liquid assets that can be easily accessed when needed. Having an emergency fund is crucial for financial stability as it helps individuals manage unforeseen expenses without derailing their long-term financial goals.
I grew up in Duxbury, Massachusetts, a small beach town on the South Shore, located 45 minutes south of Boston and 30 minutes north of Cape Cod. My parents raised me, my two brothers, and my sister. My mom was fortunate enough to be a stay-at-home mom, dedicating her life to raising four children, while my dad worked as a successful businessman to provide for us.
With the cost of higher education rising, it’s important to determine how you and your family will fund it. There are several options to consider, each with their own pros and cons.
A suite of early works from a celebrated artist. A complete set of first editions without a single cracked spine. A Brasilia buffet full of Pyrex. A spare room dedicated to artfully curated Star Wars memorabilia. All passionately collected – and potentially at risk, without a thoughtful plan to either keep them in the family or share them with the world.
No matter your child’s age, it’s never too early to start saving for their education. Time flies, and their college years will be here before you know it. So start planning today.
Nobody wants to financially erode the portfolio they’ve built by making risky choices at the wrong time. You spend nearly half of a lifetime working hard to prepare for a secure retirement, so no wonder it isn’t easy to convince yourself to embrace risk. As vital as wealth preservation is, especially when nearing retirement, returns are still an important consideration.
Even in a seller's market, selling a home can be a difficult task. As a result, you'll want to do your homework ahead of time to ensure that you will be able to sell your home quickly and at the best possible price.
It’s an election year, which means you can expect to hear presidential candidates being asked about their plan for preventing Social Security from going bankrupt.
Scam artists often prey on those who are most vulnerable. Unfortunately, this includes individuals who have recently lost a loved one and are easily taken advantage of during their time of grief.
On the road to retirement, be on the lookout for hazards that can hamper your progress. Here are five potential risks that can slow you down.
Traditionally, tipping has been a way to reward workers for providing good service. But the norms around tipping are changing, and if you've recently felt more pressure to tip, you're not alone.
Growing up as the youngest of four siblings in central New York, I was immersed in the simplicity and beauty of small-town life. Weekends were all about getting outdoors, playing sports, and spending time with family and friends. Whether we were hiking in the woods, riding bikes, sitting around a campfire, or casting lines in the nearby lake, there was always something fun to do. These experiences are valued parts of my upbringing and have shaped who I am today.
Most of us are drowning in stuff. Nearly 25% of people with two-car garages don’t have room to park cars inside, according to a 2012 Department of Energy survey, and 9.5% of all U.S. households rent a self-storage unit, according to 2019 data from the Self Storage Association.
Financial tradeoffs, interest rates and the importance of having an emergency fund: Our current economic circumstances are full of teachable moments we can and should share with our children. After all, they’re probably not learning these topics in school. Only 1 in 6 students will be required to take a personal finance course before earning a high school diploma, according to nonprofit Next Gen Personal Finance.
More than 338,000 Americans relocated for retirement last year – a 44% increase from 2022 – and about a quarter of those retirees moved to a different state. According to the online moving-services marketplace Hire A Helper’s latest annual report, Florida is the number one destination for retirees, claiming 11% of movers across state lines. South Carolina comes in at a close second and New Jersey third, with Texas and Washington rounding out the top five. Let’s explore what’s drawing retirees to these destinations.
Timing discussions around money while clearly communicating your financial values with heirs can be tricky.
You may already be asking yourself: How will I help them understand this is more about passing on a legacy than money? What financial knowledge and decision-making skills do my heirs currently have? Will my family understand the importance of charitable giving as much as I do?
You’ve worked long and hard to build your estate. Don’t let blunders keep your wishes from being carried out and leave your family – and wealth – in the lurch. Here are a few lessons to keep in mind.
To handle payments for a disabled senior, it's not enough to put powers of attorney, medical directives or guardianship arrangements in place.
Inside this digital issue, you'll find the latest news and updates from our team, details about our 2024 events, and insightful articles. Explore how we're making a positive impact in the communities we serve, and be sure not to miss the recipe for Nutella cruffins!
Join all of us at Aspire Wealth Group in congratulating Jason for once again being named to the 2024 Raymond James Chairman’s Council . The Chairman's Council represents the top 100 Financial Advisors within Raymond James Financial Services!
Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility — many types of trusts exist, each designed for a specific purpose. Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics isn't hard.
For people looking to build a balanced retirement savings portfolio, a Roth IRA can serve as a great companion to an employer plan such as a 401(k). But if you earn too much money, you may not qualify to invest fully – or at all – in a Roth IRA. And no matter how much you earn, you may find that contribution limits prevent you from building as fat a fund as you’d like. Fortunately, there are “backdoor” strategies that may help you get around these limitations. Here’s what you need to know.
Age may just be a number, but when it comes to retirement, it matters. A recent survey by the Employee Benefit Research Institute found that only 11% of workers plan to retire before the age of 60. But with the right preparation, you can create a retirement plan that will provide you with financial resources and the freedom to pursue your passions, whether you flip the switch at 65, 60 or sooner.
“Be the change you wish to see in the world.” - Mahatma Gandhi
This quote has always resonated with me, echoing through various seasons of my life. I was born and raised in central Pennsylvania, where my upbringing was decidedly more 'rural' than most. Summers were spent with cousins at my grandparents’ place, where slip-and-slide adventures down the hill and backyard campouts were the norm.
Sometimes savings can be easier to find if you know where to look. Beyond the generic advice of “saving more,” these nuanced strategies can help your cash flow. Here are some tips:…
Couples who have opposite philosophies regarding saving and spending often have trouble finding common ground, and money arguments frequently erupt. But you can learn to work with — and even appreciate — your financial differences.
The start of a new year is typically a time when people resolve to implement or recommit themselves to a personal financial goal. This year, why not consider opening a 529 plan account, or increasing your contributions to an existing account, to enhance your child's or grandchild's financial future? 529 plans are the most flexible they've ever been since their creation more than 25 years ago.
Talking to kids about money can be awkward, but it’s important. That’s the takeaway from a recent T. Rowe Price survey, which showed that parents consider topics like death and politics easier to discuss with kids than saving for a goal. A full 85% wanted to avoid the issue by signing their kid up for a personal finance course.
An estate plan is a map that explains how you want your personal and financial affairs to be handled in the event of your incapacity or death. Due to its importance and because circumstances change over time, you should periodically review your estate plan and update it as needed.
It can be difficult to not only know when to start talking about money with your heirs but how to instill your principles into the conversation. How will you help them understand this is more about passing on a legacy than money? Will your family understand the importance of charitable giving as much as you do? We’ve compiled some ideas to help you prepare for the most important wealth transfer topics with your family – before your generous gifting begins.
When someone close to you dies, the whirlwind of emotions and planning can be paralyzing. And if you’re the heir in charge or executor of your loved one’s will, decision-making and to-dos are a heavy weight on your shoulders.
After passing all 3 exams on the first attempt, we’re excited to announce that Chase Snyder is now a CFA charterholder, one of the highest distinctions in the investment management profession.
In a 2022 survey, consumers were first asked to quickly estimate how much they spend on subscription services each month, then a while later, they were directed to break down and itemize their monthly payments. On average, the consumers' actual spending was $219 per month, about 2.5 times as much as the $86 they originally guessed.
In this edition, we invite you to embark on a journey of financial discovery. We understand that finance is not just about numbers and markets; it’s about your dreams, aspirations, and the life you want to build.
If you've recently received an inheritance, you may be facing many important decisions. Receiving an inheritance might promote spending without planning, but don't make any hasty decisions. Here are some suggestions that could help you manage your inheritance.
In 2023, an estimated 4.9 billion people use social media and the number keeps growing. Whether it’s to find a place to eat, stay in touch with friends or family, or connect with industry peers to gain knowledge for your career growth, social media has a platform for you and your interests. But are you being safe with divulging your personal information?
Have you heard the term “stresslaxation” before? It affects some people, especially high performers, who have a hard time relaxing. It strikes when they’ve finally taken time away from work and other responsibilities to engage in self-care activities – but can’t get in the headspace to actually enjoy them.
Family often shapes who we are and what we become. For me, I grew up as the youngest of four brothers. My dad was a farmer, and my mom was a homemaker (a full-time job with four boys). While we did not live on the farm, I spent most summers helping wherever needed. On a farm, there is always something that needs to be done - mowing, weed whacking, cleaning out containers - the list goes on. These were just some of the jobs that needed to be done during the “off-season”.
You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others.
The youngest members of the family might seem the most informed on today’s tech – but that’s not always the case. Preparing the next generation for everything, even deterring cybercriminals or tracking down lost devices, is still the responsibility of older generations. These tips can help shield young people from online danger.
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors.
Oh, those precious memories of childhood! Everyone has them, and some are more precious than others. I was the middle child, but before you feel sorry for me, let me tell you: I was the only girl with an older and younger brother. Some might say I was a daddy’s girl, and they wouldn’t be wrong. Growing up, I lived on a dead-end street in Elk Township, New Jersey. We rode bikes and motorcycles, swung from Tarzan swings, swam in our pool, and played under the streetlight when the sun went down.
If 2023 has been financially challenging, why not take a moment to reflect on the progress you've made and the setbacks you've faced? Getting into the habit of reviewing your finances midyear may help you keep your financial plan on track while there's still plenty of time left in the year to make adjustments.
Combining finances can be complicated for any couple, but the challenges become more complex the second time around, especially when children are involved. Here are some ideas to consider if you are already part of a blended family or looking forward to combining households sometime soon.
This year, about 65 million Americans will receive over one trillion dollars in Social Security benefits. If you’re planning to join that total and claim your benefits, timing, strategy and sound decisions can all help you maximize the outcome for your household. When and how you claim, your marital status, your health, and even whether you have dependents can all affect what benefits you receive.
It's heartbreaking to hear stories of people losing money (even their life savings) as a result of fraud or financial exploitation, especially if they are older and financially vulnerable. In fact, it's quite common. You know your parents could be at risk, and you want to protect them, but how?
529 plans can be a great way to save for college, but they're not the only way. When you're investing for a major goal like education, it makes sense to be familiar with all of your options.
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child's education at the same time can be a challenge. But take heart — you may be able to reach both goals if you make some smart choices now.
Thinking about opening or contributing to a Roth IRA? Learn more about the benefits of this type of retirement account and your possible eligibility to contribute. The key benefits of Roth IRAs include…
529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming familiar with the finer points of contributions and withdrawals.
The first edition of our "Living Well" client newsletter is out! Our goal is not just to provide an educational newsletter, but also to offer you a glimpse into the activities and lives of our team who you interact with regularly.
Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals.
There's no doubt about it—owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you're buying one for the first time. Fortunately, knowing what to expect can make it a lot easier.
If you’re close to or in retirement, recent inflation has likely been unnerving, particularly given that stock markets have experienced significant volatility since early 2022. That is, you’re looking at higher prices while parts of your portfolio have lost value and your purchasing power has slipped. So, how should you respond to protect your retirement goals? When it comes to investing, the best strategy generally is to…
If you’ve accumulated more credit card debt than you can pay off in a few months, how can you quickly eliminate that debt while minimizing your interest payments? The particular strategy you should follow will depend on many factors…
The bulk of Social Security benefits go to retirees, but Social Security is much more than a retirement program. Most Americans are protected by the Old-Age, Survivors, and Disability Insurance (OASDI) program — the official name of Social Security — throughout their lives.
With spring in the air, now is a popular time to organize and declutter. But if you’re making a list of items for your kids or grandkids to pick up, you might want to establish a backup plan.
Talking to kids about money can be awkward, but it’s important. That’s the takeaway from a recent T. Rowe Price survey, which showed that parents consider topics like death and politics easier to discuss with kids than saving for a goal. A full 85% wanted to avoid the issue by signing their kid up for a personal finance course.
Most of my childhood was spent barefoot, running around, making mud pies, riding bikes, and rollerblading up and down our street with the salty ocean breeze until the streetlights came on. For much of my life, I lived in New Jersey; just three miles from the beach. My summers were spent adorned with sunburned shoulders and cheeks (I can still hear my dad yelling at me to put on sunscreen), enjoying day trips to the beach, rides on the boardwalk, and eating ice cream cones and THE BEST pizza. I’m a Jersey girl through and through.
Many individuals who are saving for retirement aim to have at least $1 million in their retirement accounts when they exit the workforce. But retirement savings aren’t a one-size-fits-all matter. Instead, the amount you’ll need depends on a variety of factors, including your lifestyle, specific financial obligations, future plans, and health needs.
If you and your spouse are looking for a way to build your retirement savings but one of you is not working, you might consider funding a spousal IRA. This could be the same IRA that the spouse contributed to while working or it could be a new account.
You’ve made a financial plan for retirement, but what about a fun plan? According to an article by The Senior, “Your Retirement | Don’t be a bored Baby Boomer,” two in three people enter retirement with little or no thought about what they want to actually do in retirement.
As we age, we may become more susceptible to fraudsters who make a living preying on retirees. This can be especially true for widows and widowers who are making decisions alone and may be particularly trusting of friendly strangers. In order to protect ourselves and those we love, it’s important to be aware of the most common scams older Americans fall for.
Cyberattacks are America’s fastest-growing crime. Review these tips for keeping your personal information safe.
Busy, cash-strapped parents might welcome all the help they can get when saving for college. Building a college fund, even a small one, can help families feel more in control and less stressed during the college research and admission process.
The importance of proper estate planning cannot be overstated, regardless of the size of your estate or the stage of life you're in. Nevertheless, it's surprising how many American adults haven't put a plan in place.
If you worry about your retirement investments during market downturns, you're not alone. Unfortunately, emotions are often the enemy of sound investing. Here are some points to help you stay clear-headed during periods of market volatility.
Inflation, roller-coaster markets, global events, and life circumstances can test anyone's fortitude. You may not feel ready to handle these pressure-filled times and might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience you need to help handle the turbulence and hopefully emerge even stronger.
Throughout your life, your financial needs will change and life insurance can help you meet some of those needs. But how much life insurance do you need? There are a number of approaches to help determine how much life insurance you should have. Here are three of those methods.
