Tax Day Will Be Here Before You Know It
Tax Day is April 18th this year, due to the Emancipation Day holiday in Washington D.C. on the 15th. This is a good time of year to review your finances and think about your long-term tax strategy. Tax Day will be here before you know it, so let’s dive into these important tax terms and start thinking about how you’ll work to lower your tax bill. Tax Credits A tax credit is a dollar-for-dollar benefit. It’s an amount that taxpayers can subtract directly from their tax bill. Some examples are the child tax credit and the earned income tax […]
Phil Williams Interviews Jim Brogan on Russian-Ukrainian Crisis and Market Volatility
Jim Brogan joins The Phil Show on NewsTalk 98.7 where he breaks down how the Russian-Ukrainian crisis could impact the market, how to offset inflation, and more. Click the play button below to listen!
The Russia-Ukraine Conflict and Your Finances
Russia’s invasion of Ukraine could have major economic consequences around the world, including here in America. After a tumultuous two years during the pandemic, the global economy faces new threats as a result of this conflict – spiking energy prices and inflation, supply chain disruptions, and market volatility. Our team of financial professionals constructs financial strategies designed to fortify the portfolios of all we serve. What Could This Conflict Have to Do With Your Wallet? As we learned during the pandemic, something happening halfway around the world can have a major effect on us. In the case of Russia’s […]
How Much Are You Left With After Inflation?
In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $3.77 on average.[1] A few dollars might not seem like much, but that’s a 1,116% increase. Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how much money you need to retire, consider what you’re left with after inflation. The Eroding Effects of Inflation We’ve seen sustained inflation for some time now, and no one knows when it will end. Year-over-year inflation was 7% in December, 6.8% in November, [2] […]
Hallerin Hilton Hill Interviews Jim Brogan on Economic Recovery and Inflation
Jim Brogan joins Hallerin Hilton Hill on NewsTalk 98.7 to discuss economic recovery and inflation, and how both have the ability to affect your retirement needs and outcome. Click the play button below to listen!
What the High Social Security COLA Could Mean for Your Retirement Finances
Social Security recipients will see a 5.9% increase in 2022 – the largest increase since 1982! This means that the average recipient will see a $92 a month raise starting next year.[1] While this is good news, it’s important to consider what this high Social Security cost-of-living adjustment (COLA) could mean for your overall retirement finances. Why is This Year’s COLA So High? This year’s 5.9% cost-of-living COLA is meant to offset the increased inflation we’ve seen this year. The year-over-year inflation rate for September was 5.4%,[2] and no one knows when it will return to more normal levels. […]
Review Your Investment Strategy and Prepare for 2022
The end of the year is a good time to reflect on 2021, how your financial situation may have changed, and your goals for next year. Maybe 2022 is the year you’ll retire, or maybe not. Either way, you can review your investment strategy and prepare for 2022 and beyond. We Saw Record Highs in 2021 – What Will We See in 2022? The S&P 500 index logged 64 new highs in 2021 as of November.[1] But how long can this last? According to a recent Allianz survey, 54% of American investors see the stock market heading for a […]
Don’t Forget These Important End-of-Year Deadlines
Do you have a to-do checklist for December? It might include buying gifts, ordering a turkey, and sending out cards. In the midst of the busyness of the holidays, it can be easy to forget about your end-of-year financial checklist. However, December 31st is the deadline to make several important tax decisions that could affect you come filing season next year. Don’t forget these important end-of-year deadlines! Review Your Retirement Account Contributions It’s not too late to max out your 401(k), IRA, or other retirement accounts for 2021. At age 50, workers can make annual “catch-up” contributions in addition […]
Bob Yarbrough Interviews Jim Brogan on End-of-Year Financial Planning
Jim Brogan joins the Bob Yarbrough Show on NewsTalk 98.7 where they discuss the year coming to a close, and what you can do to save on taxes before 2022. Click the play button below to listen!
What is a Roth Conversion and Should You Do It?
When you think of your major expenses, you might think of housing, healthcare, travel, or something else. But have you considered that taxes could be your biggest expense, even in retirement? There could be ways to reduce your tax burden today and tomorrow, including a Roth IRA conversion. What is Roth IRA vs. a Traditional IRA? Workers can contribute pre-tax dollars to a traditional IRA. When money is distributed, it’s taxed at ordinary income rates. In contrast, a Roth IRA is funded with after-tax dollars. A Roth IRA can be a valuable asset in retirement because qualified distributions are […]
