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LFA Newsletter | May 2023
Spring is often thought of as an uplifting time, marked by new growth and renewed hope as we emerge from the long months of winter and look ahead to the rest of year.
Read MoreUpcoming Webinar 4/26/2023: Behavioral Finance
On behalf of the entire team at Lifetime Financial Advisors, we invite you to our Behavioral Finance webinar with special guest Kevin Gambale from Fidelity. Behavioral finance is an exciting area of research that interconnects...
Read MoreTiming Your Earnings in Retirement to Optimize Your Social Security Retirement Benefit
If you work after you begin receiving Social Security retirement benefits, all or part of your retirement benefit may be withheld if your earnings exceed the retirement earnings test exempt amount. However, excess earnings won't affect your
Read More5 Social Security Benefits You Might Be Missing Out On
Most people know that once they approach retirement age, their reward for years of work comes from Social Security payments they put money towards during their employment. Deciding when to file for your Social Security payments is likely...
Read MoreWomen’s History Month: Retirement Focus
Women’s History Month has its origins as a national celebration in 1981 when Congress passed and authorized a resolution and requested the President to proclaim the week beginning March 7, 1982 as “Women’s History Week.”
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Re-fired Not Retired: Making The Best of the Rest of Your Life
While retirement is a time to enjoy the things you have worked hard for in life, the next chapter may leave some a little anxious. Retirement doesn't mean you have to retire from the excitement in life. In fact, it is the perfect time
Read MoreWhat To Know About The Secure Act 2.0
Employees and employers can take advantage of more than 90 new provisions aimed at creating opportunities to create or modify workplace retirement plans and strategies. Read for a helpful overview of important information...
Read MoreEntrepreneurship and Financial Risk: What You Need to Know
Entrepreneurs tend to be natural risk-takers but this doesn't mean committing to uncompensated risk. A wise entrepreneur considers their potential exposure before leaping into a new business venture, moving forward only on those...
Read MoreWays to Support Black Business
As the call continues to come for following through on support of minority-owned businesses,[1] many are wondering how they may lend their support to black businesses. Whether through direct investment or community support, there are...
Read MoreWays to Minimize Tax on an Investment Portfolio
Although we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...
Read MoreWhy Plan Sponsors Are Feeling More Responsible for Employee Financial Wellness
Bank of America's Workplace Benefits Report recently revealed that a whopping 19 in 20 surveyed employers felt responsible for their employees' financial wellness.1 But because financial wellness is such a holistic concept,...
Read More2022 Thanksgiving Newsletter
Our Thanksgiving Newsletter is here!
Read MoreCreating a Legacy of Change through Charitable Giving
Philanthropy today is different than it was in the past. It was once common for donors to distribute their wealth through smaller grants to numerous organizations. Over time, best practices for charitable giving have evolved, and...
Read More6 Ways to Minimize Your Tax Liability Throughout the Year
You don't need to wait until the end of the year to look for ways to minimize your tax liability. Tax planning should take place throughout the year to have you prepared well ahead of tax season. Here are six ways to minimize your tax...
Read MoreAdvanced Tax Planning Ideas: Tax Loss Harvesting & Ways to Quantify the Benefits
When you lose money on certain investments, you can typically claim the loss against other investments, and in some cases, you may even be able to claim all or a portion of the loss against regular income. Called tax-loss harvesting,...
Read MoreHelpful Tax Tips before Year End
Tax planning can be more advantageous when done during the year and well in advance of year’s end. Opportunities may exist for you to minimize tax liability, which could leave more income for you and/or your family.Generally,...
Read MoreA Year-End Wealth Planning Guide
As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:...
Read MoreFINANCIAL PLANNING STRATEGIES
Your Assumed Rate of Return, Know the Fees in Your 401(k) & Adjusting Your Financial Planning Timeline. Let's assume your financial planning is way ahead of your friends. You have saved, invested well and paid off your debts.
Read MoreBreast Cancer Awareness Month—Be Part of the Change
Over the last few decades, we have become extremely driven towards fighting and ending cancer for good since the National Cancer Act was put into place in 1971. This October is Breast Cancer awareness month– in the United States
Read MoreCARING FOR AGING PARENTS
Many adults have aging parents who are in need of living and health care assistance. There are a number of resources today that can help them grow old gracefully, either in their existing home or in a facility, along with multiple...
Read MoreQuestions to Ask About Medicare
If you are new to Medicare, there are several questions you should consider while approaching or within your Initial Enrollment Period (IEP) or a Special Enrollment Period (SEP). Use this guide to consider your options when preparing...
Read MoreThe Basics of Medicare
Medicare is the federal government program that provides health care coverage (health insurance) if you are 65+, under 65 and receiving Social Security Disability Insurance (SSDI) for a certain amount of time, or under 65 and with...
Read MoreThe A, B, C, & D of Medicare
Breaking down the basics.Whether your 65th birthday is on the horizon or decades away, understanding the different parts of Medicare is critical, as this government-sponsored program may play a role in your future health care decisions...
Read MoreWays to Supplement Your Medicare Coverage
There are a number of ways to fill gaps in your Medicare coverage and/or to get assistance with Medicare costs:Job-based insurance: If you or your spouse is still working, and you have insurance through that job, it may work with...
Read MoreA Living Trust Primer
A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives.What is a Living Trust?A living trust is created while you are alive and...
Read MoreA Checklist for When a Spouse or Parent Passes
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a...
Read MoreDiversification, Patience, and Consistency
Regardless of how the markets may perform, consider making the following part of your investment philosophy:Diversification. The saying “don’t put all your eggs in one basket” has some application to investing. Over...
Read MoreAn Annuity Can Help Restore Your Confidence in Retirement
Sometimes we forget just how fragile a nest egg can be.When the economy tanked in 2008, retirees watched in horror as U.S. markets suffered historic losses. The Dow declined by more than 50%, its biggest drop since the Great Depression...
Read MoreSucceeding at Business Succession
According to the Conway Center for Family Business, family businesses account for 64% of the U.S. Gross Domestic Product (GDP), yet 57% of family businesses have no formal succession plan.1 While the number may shock you, it is not...
Read MoreMindful Questions to Ask Yourself at Work
It’s important to be task driven at work, but your mental and physical well-being should never suffer because of your daily tasks. Here are some questions worth asking yourself during a work day.How are you fueling your body?A...
Read MoreChoosing a Retirement Plan that Fits Your Business
If you have yet to develop a retirement plan for your business, or if you're not sure the plan you've chosen is the right one, here are some things to consider.How much can my business afford to contribute?The cost of contributions may...
Read MoreA Home Insurance Claim: To File Or Not To File
Insurance is meant to protect you against financial loss. But is it really meant to protect you from any and all financial loss? When it comes to filing a loss claim on your home insurance, there may be times when not filing may be the...
Read MoreChoosing a Business Structure
In March 2020, about 804,398 new businesses had been created in the preceding year.1 All individuals pursuing the dream of exercising their entrepreneurial muscles, will face the same question, “Which business structure should I...
Read MoreWhat Homeowners Should Know About Estate Planning
If you have always thought estate planning was just for those nearing retirement or already retired, think again. If you own a home, it is important to have a plan in place. Without a will or other arrangements that allow your home to...
Read MoreLifeStyle Newsletter - Coping with Pandemic Stress
If your stress and anxiety levels are reaching a breaking point, you’re not alone. A recent Kaiser Family Foundation (KFF) poll found 45 percent of adults in the United States are feeling worry and stress related to the coronavirus....
Read MoreHoliday Greeting - Happy Birthday, America!
2020 is destined to become an indelible chapter in American history. In just six months, we have suffered a pandemic, encountered economic and financial disruption, and tackled civil justice issues. After all that, we deserve a...
Read MoreHas the Economy Begun to Recover?
As coronavirus restrictions ease and businesses reopen, the American economy should gain steam. Data released in May and June, including employment, payroll, and manufacturing numbers, suggested the economy may have hit bottom in April...
Read MoreHoliday Greeting - It’s Dad’s Day!
Break out the socks and neckties! It’s time to celebrate your dad. See what you know about Father’s Day by taking this quick trivia quiz: 1. When is Father’s Day in the United States? a. Second Sunday in Mayb. Third Sunday in Junec....
Read MoreHoliday Greeting - Moms are Priceless
Whether they stay at home or work for a company, moms rarely have just one job. They’re event planners, coaches, interior designers, chefs, art directors, judges (and juries), housekeepers, maintenance supervisors, network...
Read MoreResources to Help You Through the Coronavirus Crisis
If you have ever been flattened by a rogue wave while fishing or sunbathing on the shore, you probably recognize the emotional responses that have accompanied the pandemic wave crashing across the United States – shock, anxiety, and...
Read MoreThe SECURE Act Changed Retirement, Estate, and College Plans
There was a little something for everyone in the ‘Setting Every Community Up for Retirement Enhancement’ (SECURE) Act, a piece of bipartisan legislation that was attached to the United States federal spending bill and signed into law...
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