On this episode of Finance In A Flash, Nick and Chip discuss a question that a lot of people have been asking during this turbulent time in the market; "Should I adjust my asset allocation?". They start with the basics of describing how they think about asset allocation throughout a person's lifetime and then transition into instances when it may or may not be an appropriate time to adjust your portfolio's asset allocation.
Read MoreLet’s face it, seniors today are healthier, more active and are likely to have longer lives. So what are the financial implications for retirees who will likely live well into their 90s and possibly their 100s?
Read MoreOn this episode of Finance In A Flash, Nick & Erin take a deep dive into Roth conversions. They start with the basics by defining what a Roth conversion is and then transition into deeper topics by describing different scenarios on when it makes sense to use this strategy!
Read MoreMany people would prefer that their estates avoid the probate process. While the probate process is not overly costly in most states, it is generally considered a hassle to those who have experienced it. The following is a discussion on several alternatives for avoiding probate.
Read MoreOn this episode of Finance In A Flash, we introduce another member of our staff at Beacon, Erin Campbell. Erin is a principal and a co-founder here at Beacon, who also has her CFP & CPA designations. We discuss the advantages of having a tax professional on your side and the possible pitfalls people may face when doing taxes themselves.
Read MoreWith the passage of the CARES Act on March 27th, Congress eliminated IRA required minimum distributions (RMDs) for the year. This means that many taxpayers above the age of 72, or anyone who is taking inherited IRA distributions, will likely have quite a change in their taxable income in 2020. So, is it a good year to do a Roth Conversion instead?
Read MoreOn this episode of Finance In A Flash, we conclude our series titled: Financial Planning Opportunities Amid Market downturns. Throughout the episode, we cover several planning techniques such as Roth Conversions, Refinancing your mortgage, and reevaluating your budget, especially if you are in the distribution phase.
Read MoreIt is very important to periodically take the time to review your estate plan and make sure your existing documents are still appropriate and continue to meet your needs. This is a task that Beacon reminds clients to address about every other year. So what are those things that need to be reviewed?
Read MoreWho would have ever expected a rebound of historic proportions in stocks? However, since March 23rd—the height of pandemic uncertainty—major stock indexes have advanced nearly 40%!
Read MoreOn this episode of Finance In A Flash, we discuss the negative effects of trying to time the market.
Read MoreScam artists are always looking for new ways to prey on consumers. Now they are using the same tactics to take advantage of consumers' heightened financial and health concerns over the coronavirus pandemic. Here are some of the more prevalent coronavirus scams that consumers need to watch out for.
Read MoreThis web presentation explains the benefits, advantages and key attributes of donor advised funds.
Read MoreOn this episode of Finance In A Flash we continue our series on Financial Planning Opportunities Amid Market Downturns by covering Tax-Loss Harvesting. We go through the details of Tax-Loss Harvesting and the benefits of using this strategy during times when your investments have losses.
Read MoreOne of the largest financial concerns for many is the unknown, but potentially devastating cost of long term care. The financial impact of an extended need for long term care can be enormous. But what age is the right age to consider purchasing long term care insurance?
Read MoreOn this episode of Finance In A Flash, Chip & Nick discuss the benefits of rebalancing your portfolio amid a market downturn. When the stock market declines, so does the stock percentage in your portfolio, meaning you have to buy more stocks to get to your target asset allocation. This can be advantageous in various ways, to which we discuss in this episode!
Read MoreAs we help clients make long-term financial decisions, we also like to consider the probability of various negative outcomes. While we consider ourselves generally optimistic people, we believe that it is both important and helpful to also think about “worst case scenarios” - those financial uncertainties that have the potential to derail financial goals.
Read MoreIn this episode of our podcast, Finance in a Flash we discuss evaluating investment risk.
Read MoreThe purpose of this podcast is to help you, our listener, feel financially empowered. Empowered that you are making the right financial planning decisions, taking advantage of opportunities that exist and avoiding common pitfalls or distractions that may arise along the way. We will spend most of our time discussing the point where financial planning, taxes and investing converge.
Read MoreEliminating debt is a key factor in accumulating wealth, but is paying off your mortgage as soon as possible the best financial decision?
Read MoreDo you know the factors to consider when establishing an emergency savings account? How much cash is it appropriate to keep on hand in short term savings and money markets? Before we address the question, it is important to understand the important role cash plays in an overall financial plan.
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