Generation-Skipping Trusts also sometimes referred to as Dynasty Trusts, provide more flexibility than a typical will or trust, including the ability to change beneficiaries at a later date.
When markets soared in 2019, most investors wished they had taken on more risk. But those are the same investors who wish they had been more conservative when the markets fluctuated wildly and trended downward during the pandemic onset. What's your risk appetite worth?
As we enter the new year, we highlight our newest Financial Advisor, Ben Hicks. Before working at Soundmark, Ben built a successful career in the banking industry, managing banking needs for clients that included Soundmark Principal Bill Schultheis.
It goes without saying that 2020 was a challenging year. For many, it was a devastating year as they lost a loved one, a job, a business, or substantial personal wealth. The fallout from the pandemic was felt far and wide.
Soundmark Principal Bill Schultheis released his new book The Coffeehouse Investor Ground Rules: Save, Invest, and Plan for a Life of Wealth and Happiness on the same day the Dow Jones Industrial Average pushed through 30,000 for the first time. When he launched his first book in 1998, the index was at 9,000. It is …
Before we ring in the new year, check out our most popular blog articles of 2020. We look forward to sharing more financial planning wisdom with you in the year ahead. Amazon 401(k) Moving to Fidelity. Amazon recently moved its massive 401(k) plan over to Fidelity and is now offering its employees the same …
The IRS has announced the 2021 retirement plan limits. Most remain unchanged, including the 401(k) contribution amount set at $19,500. Phase-Out Ranges for Contribution Deductions The IRS has established phase-out ranges for IRA contribution deductions for 2021. If you have questions about how this might affect your deduction limits, please connect with your advisor. Tax …
Key Takeaways Many high-income individuals could be facing higher tax rates soon, although no one knows the extent of those changes. It is far better to plan than to guess. You cannot go wrong by maximizing your charitable, retirement, and health savings account (HSA) contributions. Consider taking required minimum distributions (RMDs) for the 2020 tax …
Here are the top 3 benefits I suggest you review: Perks + (previously the Stay Fit program) – This year you can still take advantage of the $800 Stay Fit reimbursement for health and wellness expenses such as gym memberships, exercise equipment, and sports equipment. In 2021, your new Perks+ benefit will increase your …
As a financial professional, I have experienced, and continue to observe, a bias against women as successful investors – a bias that is unfounded in the real-life decisions made by women as they address their financial goals. Despite the career advances women have made in all dimensions of our society, the perception persists that women …