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Discover valuable insights and practical tips to help you navigate your financial journey.
Retirement Plan Legislation Secure Act Highlights
The new law requires employers to set a default contribution rate of at least 3% but not more than 10% for the employee, plus an automatic contribution escalation of 1% per year up to a maximum contribution rate of at least 10% but not more than 15%.
Crypto Insights: Exploring What Happened with FTX
By now everyone has heard of the collapse of crypto exchange FTX and its founder, Sam Bankman-Fried (known in the crypto community as SBF). FTX was viewed as one of the darlings of the crypto space. It was thought to be among the most secure. SBF was even lobbying for crypto regulation. FTX was believed to be stable in an extremely volatile space. Having it collapse in the way it did is what’s really shocking. Its collapse has played a huge role in what is happening in crypto right now.
Planning For Retirement: Begin With a Financial Plan
A financial plan helps track income, expenses, and investments to manage your finances better for current and future needs, including your retirement goals.
Navigating the Trustee Selection Process
Trusts have been part of the estate planning conversation for over a thousand years and have become the primary estate planning vehicle in use today. The Trustee is charged with certain duties relative to their role. While being nominated may be an honor, serving as a Trustee carries risk and responsibilities.
2023 Outlook Webinar - Midland Wealth Management
Midland Wealth Management hosted a year-end wrap-up and 2023 outlook webinar on 1/25/2023.
Presenters included: Jayne Hladio, MBA, President of Midland Wealth Management and Betsy Pierson, CFA, Chief Investment Officer.
Market Outlook Newsletter 1st Quarter 2023
This last year has certainly been a challenging one for investors. There were few places to hide unless you were invested in commodities or cash.
5 Most Common Beneficiary Designation Mistakes
One aspect of estate planning that can often be overlooked is making sure your beneficiary designations are up to date. Many people think that once you have signed your Last Will and Testament, your estate plan is complete. Not so fast! This may surprise you, but oftentimes a person’s Will governs very few assets at the time of their death. Consider retirement accounts and life insurance: it is not the Will, but rather the beneficiary designation that these assets have that will govern who receives it at the time of death.
Avoiding and Identifying Scams
AARP has reported that 3 out of 4 U.S. adults have experienced or have been targeted by at least one form of fraud. Scams and fraud have soared across the U.S., but reported losses are just the tip of the iceberg. Losses are often not reported because of the shame and blame attached to the victims of fraud. More than 1 in 4 people who reported losing money to Fraud in 2021 said it started on Social Media.
Market Outlook Newsletter 4th Quarter 2022
The market’s roller coaster ride during the third quarter was certainly one of steep inclines and dramatic falls. The S&P 500 ended the quarter at a new low for this bear market after increasing almost 17% from its mid-June low.
Is Your Company Retirement Plan Due for a Checkup?
Many employers offer 401(k) and/or profit sharing plans. Employers, as Plan Sponsors, have a fiduciary responsibility to review periodically the plan’s terms, features, fees, investments with their vendor(s) and their vendors to assess whether any plan changes are required to satisfy the compliance and fiduciary standards required under the Employee Retirement Income Security Act (ERISA). The day-to-day business and employee needs, generally, take precedent which makes it difficult for employers to find time to review their plans.
Do I Need a Trust?
One of the most common questions we hear from clients is, “Do I need a Trust?”
While I like giving neat-and-tidy answers, this is not one of those questions where that can be done. Every person’s estate is a little bit different, and this requires individual analysis before determining if a trust is right for you. My goal in this article is to help you in this analysis, so that we can answer this question for you.v
Market Outlook Newsletter
3rd Quarter 2022
Whether this question brings up good or bad memories, we have all been asked or have personally asked this question while attempting to reach a vacation destination.