Blog
What’s on our mind? You can read about it in our blog. Whether it’s ideas from the industry or emerging trends, you can read about it here. And once in a while, we may throw in a movie review or some other surprise. So keep checking in. We’re glad to have you reading along.
IRS Releases 2024 Tax Brackets, Retirement Contribution Limits
The Internal Revenue Service recently released updated income tax brackets, standard deduction, and retirement contribution limits for the 2024 tax year. While these taxes are not due for some time, it may benefit you to start...
Read MoreIdentity Theft Awareness Week
January 30 to February 3, 2023, is Identity Theft Awareness Week. Anytime is a good time to tighten up your identity security, but if you haven’t been as careful as you intended, consider this your annual reminder. Here are a few...
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Wishing You a Happy Father’s Day
Let’s hear it for the dads, the ones who help us grow, give us guidance, and look out for us in a million different ways. In celebration of Father’s Day, here are some of the ways you can honor the father-figures in your...
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The Power of the Consumer
A confident consumer can be a powerful ally in an economy. But when the consumer starts to have questions, we can measure consumer confidence in everything from retail sales to home buying to the personal savings rate.In recent months...
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Is Inflation Peaking?
You see it in prices at the grocery store and the gas station. You feel it in your monthly budget. So why don’t the financial markets seem too concerned about inflation?Remember, financial markets are considered...
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Powell News Kicks Off Volatile Season?
The holiday season is often a quiet, positive time for the financial markets. The phrase “Santa Claus Rally” was coined in the early 1970s to reflect the stock market’s upward bias during the November-January stretch...
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2022 Contribution Limits
Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022.Staying put for 2022 are traditional Individual Retirement Accounts (IRAs)...
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When Bad News Is Good News
Financial markets can be challenging to understand. But when markets enter a “bad news is good news” cycle, it becomes even more difficult to follow along.At its November meeting, the Fed outlined its plan to taper monthly...
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FANNG is now MAMAA
CNBC’s Mad Money host Jim Cramer created the popular FAANG acronym to denote some of the largest, most powerful companies in the world: Facebook, Amazon, Apple, Netflix, and Google. Recently, changes in those companies are...
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Tax Changes: What's In, What's Out?
While it’s still too early to draw any final conclusions, Congress is getting closer to outlining what tax law changes are under consideration to pay for the proposed $1.75 trillion Build Back Better Plan.1For now, it appears...
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Frightful Halloween Facts
With temperatures falling and the nights growing longer, goblins, ghouls, and ghosts across America are preparing for our second-largest commercial holiday: Halloween. With this frightful day fast approaching, here are some fun facts...
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Estate Taxes May Be Amended Soon
To help raise revenue to pay for President Biden’s Build Back Better Plan, Congress is considering a number of tax law changes, including adjusting estate taxes.One of the proposals would reduce the estate tax exemption to...
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Gridlock in the Supply Chain
While the world has begun to recover from the economic disruption of the COVID-19 pandemic, the delayed reaction has been felt in the supply chain. Industrial shutdowns around the world slowed production to a relative crawl, leaving...
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Will Fed Chair Powell Get a Second Term?
Financial markets tend to function best when they have clear, strong leadership. When there’s concern about who’s the boss, markets can struggle.Jerome Powell’s first term as Fed Chair ends in February 2022. Until...
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Will the IPO Market Heat Up?
If the stock market outlook brightens, there are expectations for a bumper crop of initial public offerings to make their debuts over the next several weeks.Somewhere between 90 to 110 IPOs are preparing to come public by the end of...
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Roller-Coaster Week in Washington
Debates over government debt, taxes, and infrastructure have captured the attention of the nation this week. All eyes are on Washington and Wall Street as these events play out, with potentially far-reaching consequences that seem to...
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Considerations During Medicare’s Open Enrollment
How long has it been since you’ve reviewed your Medicare policy? With open enrollment fast approaching, there are a few questions you may want to ask yourself before you renew, add, drop, or switch coverage.Have you switched...
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Fed Rescues September
A funny thing happened in the investment markets the other day. September was living up to its reputation as a volatile month, but then the Federal Reserve came to the rescue.The Fed concluded its Federal Open Market Committee meeting...
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Happy Equinox!
The Autumnal Equinox approaching on September 22 is a day with 12 hours of sunlight and 12 hours of darkness. This balance of day and night serves as a reminder of the change of seasons, and heralds the coming of fall colors and...
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Are Your Taxes Going to Change?
Most likely, you’ve heard what’s brewing in Washington, D.C., called by one of these names.The Build Back Better Act. Or the $3.5 trillion budget reconciliation bill. Or the Jobs and Economic Recovery Plan for Working...
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The Best, the Brightest, and Inflation
If you are feeling a bit confused about the direction of inflation, you’re in good company. Some of the best and brightest economists in the country are having a tough time getting their arms around the current inflation trends...
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Making Sense of Seemingly Inconsistent Numbers
It can be incredibly difficult to make sense of data. A report coming from one body may tell you one thing, and another report might seem to offer a wholly different perspective.Such is the case with August’s jobs numbers from...
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The September Effect
The stock market notched its 7th straight month of gains in August, and the Standard & Poor's 500 index has set 53 new highs so far in 2021.1During August, stocks rallied as investors looked past the increased number of COVID-19...
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Social Security Benefits May Be Cut By 2034
The economic impact of COVID-19 has been felt from coast to coast. And, unfortunately for many pre-retirees, it could potentially impact Social Security benefits as well.A new report indicates that if Congress doesn’t take...
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A Dividend of Confidence
The most recent stats on corporate dividends suggest that global companies are bullish on the world’s economic recovery.Dividends paid to investors are on track to hit $1.4 trillion this year and are expected to stretch even...
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401(k) Millionaires
Your workplace retirement account can play a critical role in your overall retirement strategy. However, some have gone further with the accounts than others, especially recently.CNBC reported on findings that place 401(k) accounts at...
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The Fed Can't Keep a Secret
If you have a secret, don’t tell anyone at the Federal Reserve Bank. They may leak the story before you’d like.In early August, multiple regional Federal Reserve Bank presidents hit the speaking tour. They made headlines...
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Distracted America
Over the last year, many have seen their lives impacted by the COVID-19 pandemic. The ways in which we work, live, and communicate have drastically changed, to say the least.It’s difficult to predict what other aspects of life...
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Mixed Signals on Inflation
Are you having a tough time keeping track of inflation's mixed signals? You’re not alone.Consumer prices in July climbed at their fastest rate since August 2008. Worse, producer prices, which can be an indicator of future price...
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Will Air Travel Problems Persist?
The airline industry plotted a course for recovery in 2021, but recent difficulties may have put that plan into a holding pattern. While major airlines checked in with improving financial results for the second quarter, both they and...
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A Wall of Worry
Have you ever heard the Wall Street expression, "markets climb a wall of worry?"It's the idea that financial markets are constantly on edge. Traders fret about how long a market rally can continue before it runs into trouble. Worry...
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The Cost Of A Gold Medal
The 2020 Tokyo Olympics wrap up with closing ceremonies on August 8, and it’s been an Olympic games like no other. We’ve watched the world’s finest athletes go for the gold. Which leads many to wonder: what exactly...
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Chinese Stocks Under Pressure
With overseas investments, we remind people that, “international markets carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risk, foreign taxes and regulations...
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Teenage Wage-Land
Summer jobs are a perennial aspect of the American workforce. It’s a time when teenagers are filling out applications and, in many cases, earning wages of their own for the first time. But some of what we’ve become...
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A Roaring Start to Earnings Season
Corporate earnings season has begun, and the results are turning heads on Wall Street.Of the 120 companies in the S&P 500 index that reported numbers as of Friday, July 23, 89% of them beat the Street’s earnings-per-share...
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A 6.1% Bump in Social Security?
The news keeps getting better for Social Security recipients.It's now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1...
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The Olympics Are (Finally) Here
After a year of delays due to the coronavirus, the 2020 Tokyo Olympics are officially here. With an opening ceremony set for July 23, events will take place over the next two weeks with closing ceremonies on August 8.Modern-day...
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Billionaires in Space
It’s long been an aspirational target for entrepreneurs. It literally goes beyond “blue sky,” in terms of location, to a place no business has gone before: Outer Space!Longtime space enthusiast and entrepreneur...
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The Quiet Fall in Bond Yields
With all the attention given to inflation, stock prices, and job reports, it’s been easy to overlook the remarkable move in the bond market during the past few months.The yield on the 10-year treasury closed at 1.37% on Friday,...
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Conducting Your Mid-Year Financial Checkup
With June officially behind us, it’s time to face the facts: we’re headed toward the second half of 2021. While there’s still plenty of time to enjoy the rest of summer, we encourage you to slow down and check up on...
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Oil Prices Hit Six-Year High
On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1This...
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Thinking About Summer Travel Plans
Summertime rouses our desire to hit the road (or the airport) and travel. Here are a few things you’ll want to consider before you take off.Employment Issues for Airlines: Airlines have canceled hundreds of flights due to...
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The Fed Acknowledges Inflation
At its June meeting, the Federal Reserve confirmed what many of us have suspected for some time: prices are rising. In fact, prices are climbing faster than many expected. In response, the Fed raised its inflation expectation to 3.4%,...
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Happy Independence Day
The Fourth of July is just ahead – a chance for us all to get together and celebrate what makes America so special. As Americans, we have the liberty to act, speak, think, and worship freely. This precious liberty was fought for...
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Inflation & the Real Rate of Return
The real rate of return is an important personal finance concept to understand.It’s the rate of return on your investments after inflation. The real rate of return indicates whether you are gaining or losing purchasing power...
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Economic Lessons from Used-Car Inflation
Inflation is defined as the general upward price movement of goods and services in an economy. The key word is “general.” Inflation tends to be uneven and affects the price of some items more than others.If you’ve...
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The Cryptocurrency Conundrum
Recently, you may have seen a number of major cryptocurrencies fall thanks to a continuing sell-off that began last week. In fact, over $250 billion was lost in the crypto market alone.1It may be tempting to view this as another...
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Summer Travel is Back!
One of the most anticipated comebacks of 2021 isn’t an athlete, rock star, or movie franchise. It’s summer travel, and it appears to be back with a vengeance.Travel agents are working 14-hour days to meet the needs of...
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Happy Father's Day
Father’s Day is coming up, a day when we celebrate perhaps the greatest work men do. Teaching your children, instilling the lessons that will shape their character and their lives. Is there any work more important?Interestingly,...
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A COLA with Your Social Security?
If there is a "silver lining" to all the inflation talk, it may be that Social Security benefits are expected to see a larger-than-normal increase in 2022.Preliminary estimates call for a 4.7% cost-of-living increase (COLA) in Social...
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A Seven-Year High for Gas Prices
Over Memorial Day weekend, gasoline prices hit the highest for this holiday weekend since 2014.1With the Colonial Pipeline outage in the rear-view mirror and an ever-increasing number of adults vaccinated, formerly cooped-up motorists...
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Inflation Can Be a Scary Word
Inflation can be a scary word for people who are retired. It’s code for “prices are going up, but my income may stay the same.”The most recent reading on consumer prices put inflation back into the conversation. The...
Read MoreAre you ready for 529 College Savings Day?
May 29th is College Savings Day. Our team at Legacy Planning Group wants to let you know we are always available to answer any questions you may have about the many potential benefits of 529 plans. A few tidbits about this powerful...
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How COVID-19 Caused a “She-Cession”
Since the 1980s, unemployment rates have trended higher amongst men than women during a recession. In previous periods of economic downturn, this made sense. Male-dominated industries, like construction and finance, were typically...
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2021 Retirement Confidence Survey
Will your retirement dreams match your reality?That's perhaps the most critical question to ask people who are currently retired. Was your retirement what you expected, or was it something else?For more than 30 years, the Employee...
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Investor Sentiment Is Shifting
A recent survey shows that 63% of investors are more interested in protecting their financial assets and planning for uncertainty in the future than anything else.1There are many reasons for this change, but here are a few of the most...
Read MoreCelebrating mothers everywhere
A mom can be a great friend, a guiding light, a teacher. One thing’s for sure: no one can take her place. This Mother’s Day, we want to take the time to honor and thank the ones who have helped make us who we are.Here are...
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What in the World Are NFTs?
Non-fungible tokens, or NFTs, have been the recipient of the latest buzz. NFTs are digital files attached to blockchain codes. If you know anything about digital currencies, you’re probably aware that these blockchain codes are...
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How Soon Might the Stimulus Arrive?
While many in the United States are beginning to receive vaccinations and people are starting to foresee a life after COVID-19, it remains clear that things aren’t yet back to normal. As a result, there has been a great deal of...
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What’s the Buzz with Bitcoin?
Hardly a day goes by that the topic of bitcoin or other cryptocurrency assets doesn’t come up in meetings with clients and prospects or from friends and relatives who want to know, “what all the buzz is about?”The...
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Markets & Marriage
Your investment strategy is a lot like a marriage. One day you may feel like everything’s going swimmingly. The next day, there might be an argument over who forgot to load the dishwasher. And even the best marriages and...
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Will the Grinch Steal Christmas?
The start of the holiday shopping season can provide important clues about the economy's state and, more importantly, overall consumer confidence. So far, the results have been a “mixed bag” with empty malls and busy...
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Window Closing on Medicare Changes
The annual fall enrollment period for Medicare is coming to an end. Monday, December 7 is the deadline for enrolling or making changes in Medicare Plans.1Assuming you are already enrolled in Medicare, letting the date pass will keep...
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Race for a Vaccine
A U.S. drug company recently said that it’s in late-stage trials for its coronavirus vaccine and reported that it could be given to Americans as early as the end of the year.1Great news. But it seems like every few days...
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Home Builders Confident In Economic Rebound
To some, this may hardly feel like an economy headed for a bright future. But don’t tell that to home builders.Builder confidence in August jumped to an eye-popping 78 in August, according to the Housing Market Index courtesy of...
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Is Inflation On The Rise?
Right now, many Americans are worried about their financial health due to the impact COVID-19 has had on the country. Adding to these concerns were July's consumer prices— excluding food and energy—which rose at the...
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What Are Stock Splits?
Two high-profile companies—Apple and Tesla—have announced stock splits in the past few weeks, which makes it a great time to discuss what’s involved when a company announces a stock split.Remember, any companies...
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How Much Money Will You Need for Retirement?
"Will I outlive my retirement money?" That's one of the top fears for people who are starting to prepare for their retirement years.So I have to chuckle a bit when I see headlines that say, "Here's how much money Americans think they...
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The Fed’s Year-Long Review Expected in September
As many of you know, the Federal Reserve's Open Market Committee has eight scheduled meetings each year when the seven board members review the nation's economic activity and set the federal funds rate's target rate.In this...
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Federal Student Loan payments paused due to COVID-19
This month, many universities and colleges are welcoming students back to campus, even if most campuses are largely online this year. But that's not all that's different. The current administration has issued an executive memorandum...
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2020 RMD Income Tax Relief is possible
Are you one of the many retirement account holders who took a mandatory distribution this year? If so, you may be able to manage the taxes associated with Required Minimum Distributions (RMDs) from traditional IRAs and 401(k)s. There...
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Don’t Overreact in August
One of my favorite Wall Street quotes is from Mark Twain, who said:“October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June,...
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Will Political Changes Affect the Economy?
With all of the storm and stress of the year 2020, you’d be forgiven if you momentarily forgot that we’re due for another national election in November. Many states will be selecting governors, representatives, and...
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Keep an Eye on Buying & Selling by Corporate Executives
To some, the buying and selling of a company’s stock by corporate officers and directors can be an indicator of Wall Street sentiment.In July 2020, the ratio of companies with executive buying compared with executive selling...
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What Is Earnings Season?
Every few months, you may hear the phrase “we’re entering earnings season” as you read financial news.But what exactly is “earnings season” and why is it important to Wall Street?Earnings season is the...
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30-year Home Loans Fall to Historic Lows
Lately, it can feel like each day brings a new headline about fluctuating market behavior. But amid the ups and downs of 2020, there may be some potential good news on the horizon. On July 16, 2020, the interest rate for a 30-year...
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