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The Road to High-Net-Worth: Strategic 401(k) Moves to Amplify Your Wealth

Christopher J. Coffin, CRPC®

Friday, August 16, 2024

As one embarks on their journey toward a high-net-worth status, it's crucial to understand that strategic planning and intelligent decision-making are essential for wealth generation and preservation. One of the most powerful tools at...

Life Insurance Considerations for Every Stage of Life

Christopher J. Coffin, CRPC®

Friday, August 16, 2024

As we go through various stages of life, our insurance needs may vary significantly. Here’s a breakdown of the different stages: Early Adulthood (20s and 30s) Considerations: Affordability. Life insurance will be less expensive if an...

Retiring on Your Own Terms: 7 Ways You Can You Work Toward an Early Retirement

Christopher J. Coffin, CRPC®

Friday, August 16, 2024

Many dream of working toward early retirement, but getting there generally doesn’t happen by accident. Retiring early requires financial independence that can last for decades, but that is much easier said than done. To get there...

A Crash Course on How To Use a 529 Plan

Christopher J. Coffin, CRPC®

Friday, August 16, 2024

A 529 is a tax-advantaged savings plan that gives you incentives to save money to pay for college or other higher education expenses. Pursuing your savings goal may mean the difference between a dorm with central air conditioning or...

If you're someone who tends to avoid cable news programs, you may wonder about the best way to stay up-to-date on the current economic climate. Fortunately, there are more options than ever.

Growth investing and value investing are similar yet different financial concepts that motivate investors depending on several factors. These motivations vary from person-to-person.

Many parents want to provide their children with the best possible help and care, even when they transition into college. However, as the children come of age, there is much more to consider than tuition fees and dorm essentials.

Over the next few decades, one of the most significant wealth transfers in history is that baby boomers will pass down an estimated $30 trillion in assets to their heirs.

“A penny saved is a penny earned.” This nugget of financial wisdom from Benjamin Franklin, shared in the late 1700s, remains as relevant today as it was then.

Wealth and estate planning are vital for all individuals but are particularly essential for high-net-worth individuals in the sandwich generation. "Sandwich generation" refers to individuals caring for their aging parents and children.

The "Sandwich Generation" is composed of adults who are ‘sandwiched’ between competing financial responsibilities. Many Sandwich Gen members support their aging parents while also providing for their children.

If you're like some, you may have spent large parts of your working life missing the carefree summer days of your childhood. That is, of course, assuming you had a happy childhood. If not, try to imagine how it might be if your...

Protecting your finances is always important. But as you approach retirement, with less time to bounce back from any missteps, it becomes even more critical to avoid fraud, identity theft, and other threats. Below, we discuss a few...

529 plans are a tool for those looking to save for college for their children, grandchildren, or any family member. While most people know that they are one of the most popular saving methods for college, many myths surrounding these...

If you're thinking about working in retirement, you must consider a few things before making your decision. As you get older, the question of when to collect Social Security retirement benefits and how your monthly payment may be...

If you're nearing retirement age, you know the Social Security process and how much you will likely receive. With that information, you may have also anticipated that your Social Security benefit would not be enough to sustain you in...

Baby Boomers — those born between 1946 and 1964 — hold about $20 trillion in wealth.1 Over the next few decades, many Boomers may transfer this wealth to their Gen X, millennial, and Gen Z children, perhaps incurring a hefty tax bill....

Regardless of the stage of life, your credit score is an essential component of your financial health when you're in retirement. A consistently strong credit score can pave the way for greater confidence, easy loan access, and lower...

If you’re retired, there’s good news in that you’ll probably live longer and perhaps better than your parents and grandparents did. The bad news: You’ll live a longer and perhaps more expensive life, too. You...

By the time you read this paragraph, another preventable break in will occur in the United States. Every 18 seconds, adding up to 200 an hour, home invaders successfully strike. Home security shouldn’t have to cost thousands...

COVID-19 and remote work is continuing to increase the need for internet security. Social distancing has increased device use and strained security protocols. Although cyber-security attacks are often direct at companies, other attacks...

Tax planning might be complex, but it's also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime. And even in...

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024. How much can you save in an IRA? The maximum amount you can contribute to a traditional IRA or a...

  There are no great secrets where tax planning and tax cutting are concerned. The principles around which all tax-cutting strategies revolve can be reduced to six basics:   1. Income splitting. Taxes are reduced for the...

Getting close to retirement is exciting, but it often brings a little worry about your financial future. The closer you get, the more you may be concerned with the rising living costs and if your finances are on track to allow you to...

In the world of investing, the "holiday effect," as it is often referred to, is a phenomenon where stock prices see an increase right before a major holiday. There are many theories on why this may occur.

In 2024, LPL Research believes markets will make a definitive turn to a more recognizable place. En route, the transition will be marked by meaningful shifts in a few key areas. Inflation is going down. The risk of a recession is...

Thanksgiving is a holiday for spending time with loved ones, being grateful, and perhaps enjoying a bit of overindulgence. There are many financial lessons to be had in planning, preparing, and celebrating this annual feast.(1)

If the end of the year has you in planning mode, you’re not alone—starting a new year may be a great opportunity for a review and renewal. What steps might you take for next year?

When you start to consider if investing is an appropriate option for you, you may have questions. You might want to ask: • How do I invest money, and where? • How much money will I need?

Financial planning is unique for each person; no two financial plans look the same because everyone's life and personal goals are different. Regardless of what your goals are, financial planning can help you work towards achieving them.