Are You Adequately Insured? Part 2

In Part 1, I discussed the biggest myths and misconceptions about homeowners and umbrella liability policies. Now, let’s review the ways to close those gaps and get more bang for your policy buck. Uninsured and Underinsured Umbrella Liability Coverage Many people are unaware that some insurance carriers provide underinsured and uninsured umbrella liability coverage. These … Continued

Are You Adequately Insured?

If you’re like many successful people, your home is your largest personal asset. But, nearly two-thirds of American homes are UNDER-insured, per Nationwide Insurance, adding that the average homeowner is underinsured by about 22 percent. This could mean you are unable to rebuild your home to the condition it was in before a major disaster … Continued

Can I Pay for Long-Term Care with HSA Funds?

We are proponents of Health Savings Accounts (HSAs) and have continued to discuss their benefits over time. HSAs can be a great way to manage healthcare costs, gain a tax deduction, and save future dollars. These tax-free accounts can also help fund long-term care (LTC). Expenses related to LTC services should be reviewed by a tax … Continued

Celebrating a Decade of Success

Soundmark Wealth Management reaches a significant milestone this year, celebrating their 10-year anniversary of working together with their clients to achieve financial and lifetime goals. The foundation of the firm, however, had its beginning eight years prior to that, in 2000, when John Buller, Todd Flynn, and Bill Schultheis connected, collaborated, and concluded there had … Continued

Washington Launches a New College Investment Program – What You Need to Know.

Washington state recently launched the Dream Ahead College Investment Plan as an addition to the Guaranteed Education Tuition (GET) plan. PROGRAM FEATURES While the GET program is a prepaid tuition plan, the Dream Ahead plan has multiple investment choices with varying degrees of customization. The risk and returns of the program are tied to the … Continued

What You Need to Know About Your Social Security Benefits

Not only do we discuss Social Security with our clients at Soundmark (apparently only 13% of older adults have discussed their Social Security benefit with their advisor), we go a step further to educate our clients on the pros and cons of delaying benefits and the impact it has on their overall plan. When the … Continued

Over 50? Here’s What You Need to Know About Life Insurance

KEY TAKEAWAYS: Life insurance needs change overtime, regular review is important to successful financial planning. Answering difficult questions about mortality and end of life stages can be helpful for your family and with securing your estate. Not all life insurance policies are the same, finding the one that fits your individual needs is key! You … Continued

Celebrate National Social Security Month

Did you know you can estimate your future Social Security benefits or find out if you qualify for benefits online? The Social Security Administration online services have expanded to offer several ways to help you navigate the complex system. They also offer a suite of business services to help companies report employee wages and verify … Continued

Don’t Forget About Washington State’s Estate Tax

KEY TAKEAWAYS: Though the federal estate tax exemption has increased dramatically, Washington state’s estate tax exclusion is significantly lower. Washington state taxes estates valued at more than $2.193 million—don’t take your eye off the ball! Even if a Washington married couple’s joint estate value is under the combined individual limit of $4.386 million, they could … Continued

Accentuating Portfolios Beyond Target Date Funds

For younger, less experienced investors, a Target Date Fund can be an easy way to get started in investing. For more accomplished investors, we generally don’t recommend Target Date funds for the following three main reasons. 1. Target Date Funds do not consider your other investment assets or income sources, potentially taking on significantly more … Continued