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Countdown To Investing in the New Year: 10 Questions To Ask Yourself

Kristin L. Schoenfelder, CFP®

Friday, December 1, 2023

If one of your New Year's resolutions involves enhancing and expanding your investment portfolio, look no further. In a true New Year's Eve countdown tradition, ask yourself these 10 questions to help review your investment plans.

Today's kids have more information at their fingertips than past generations could ever have dreamed—but not all this information is always accurate. And when it comes to financial literacy, the ability to weed out misinformation is crucial

Life today is expensive, and contributing to a retirement plan is more beneficial than ever. Recently, the IRS announced it was raising the contribution limit for 401(k)s to $23,000 for 2024, up from $22,500.

At the end of the year, it is necessary to reflect on your financial plan, review the last 12 months, and plan for the future. With all that is involved, it can seem overwhelming.

One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may quickly derail your retirement plan. The good news is when you turn 65, you will be able to apply for Medicare.

The penultimate month of the year is often a time to reflect and offer thanks. And while economic and geopolitical uncertainty can overshadow the positives, there are things to be thankful for.

Giving away some of your money is a great way to support the people and organizations you love. But there are smart ways to do it, minimizing your taxes and avoiding pitfalls along the way.

Qualified Charitable Distributions (QCDs) are vital for those who must take an annual required minimum distribution (RMD) but seek a tax-advantaged strategy that may help lower their adjusted gross income (AGI).

5 Tips for Saving and Investing as a Small-Business Owner

Kristin L. Schoenfelder, CFP®

Wednesday, November 1, 2023

Putting all your profits back into the business may be tempting, especially during the lean years. But when it comes to saving and investing as a business owner, there are other paths you could consider for the long run.

If you are getting ready to repay your student loans, you may be contacted by companies offering to help you.  Before you take action, here are some signs that you might be dealing with a student loan repayment scam.

Veterans' retirement benefits are among some of the most generous out there, in large part due to the risks and sacrifices that come from military service. But navigating this array of benefits may seem complicated. What should veterans kno

Given the economic backdrop, we wouldn’t be surprised if the markets remain a bit choppy this month. But overall, we suggest staying the course, and there are plenty of reasons to be cautiously optimistic about where we’re headed...

Although cyber-security attacks are often direct at companies, other attacks are targeting individuals who are often unaware their daily events leave them at risk.

You have probably heard about financial planning and its potential benefits, but you are unsure how to apply the principles to your life. Help from a financial professional is also highly recommended to navigate the nuances involved.

Cybercrimes have proven to be an escalating problem that requires people to be especially vigilant when using electronic devices. We want to share several ways seniors can work to circumvent falling victim to such scams.

Financial planning is the process that can help you pursue your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources.

What Should Women Entrepreneurs Know About Small Business Grants?

Kristin L. Schoenfelder, CFP®

Tuesday, September 26, 2023

There are grants available that can provide some much-needed liquidity to female entrepreneurs. Learn more about these grants and how you can take advantage of the opportunities they present. 

When you work with a financial professional, you know how important the year-end review is to the financial planning process. Here is what you should do in order to make your annual financial planning review more efficient and productive.

Financial markets lived up to their reputation during the month of August, which has a record for being difficult. On the first day of August, markets had to contend with a downgrade of U.S. long-term debt by the rating agency, Fitch.

Financial Planning for Female Entrepreneurs

Kristin L. Schoenfelder, CFP®

Monday, August 21, 2023

Women own nearly 20% of the businesses that employ people in the United States, and countless more women run their businesses without employees. There are over one million women-owned firms.

Which type of life insurance is better--term or cash value? Insurance buyers have been asking this question for generations.

Having some cash set aside for emergencies or unplanned expenses may help you avoid going into debt when disaster strikes.

Helping to pay for a grandchild's college education can bring great personal satisfaction and is a smart way for grandparents to pass on wealth without having to pay gift and estate taxes. So what are some ways to accomplish this goal?

Making economic forecasts and stock market predictions can be humbling. It’s especially tough when you expect stocks to go higher and get a big drop instead. The environment today is the opposite, but still tricky, as recession...

A Retirement Income Roadmap for Women

Kristin L. Schoenfelder, CFP®

Tuesday, July 25, 2023

More women are working and taking charge of their own retirement planning than ever before. What does retirement mean to you? Do you dream of traveling? Pursuing a hobby? Volunteering your time, or starting a new career or business?...

Even if you are already retired, it doesn't mean you should stop trying to grow your savings. Inflation, unexpected medical bills, and changes to your lifestyle or family may result in the need for additional income than you...

 When it comes to financial planning, people often think of financial professionals as people who assist with strategies for retirement planning. That is one aspect of their job; however, financial planning and working with a...

Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether...

Now that we’re beyond the midpoint of the investing year, it’s a great time to look at where we’ve been—to help position your portfolio for the latter half of the year. Our Midyear Outlook: The Path Toward...

As we finalize the log on the first six months of 2023, we believe there’s value in reflecting on recent months gone by. Doing so can help crystallize key learnings and help chart a course through the rest of the year. Looking...

When discussing multigenerational wealth it is common to come across proverbs that acknowledge the fact that generational wealth typically won’t make it past the third generation. In the United States the saying goes, “from...

The sandwich generation is a term commonly used to describe those between the ages of 40 and 59 who are responsible for raising their family and are also often helping their aging parents manage their ongoing needs. Those members of...

What does the term "financial freedom" mean to you? For some, it means freedom from a particular workplace or industry. For others, it means the opportunity for an early retirement or the ability to start a long-desired business....

Every so often Washington likes to remind us how hard it can be to get things accomplished. The most recent example is the debt ceiling—the amount Congress can borrow to pay its bills. It seems like we have this debate every few...

Summer is here, and it could be time to hit the road on a new adventure. If you’re on a tight budget, you don’t have to give up your summer vacation dreams. Here are a few tips you may be able to use to create the perfect...

Although many things have changed in the financial world over the past 20 years, some nuggets of financial advice are timeless. Here are a few tips that have remained constant for several generations.Always Spend Less Than You...

In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence. Many of the...

Estate planning helps disperse your assets according to your wishes. The effort may seem daunting at first, but estate planning does not have to be overly complicated. With the proper planning, you may find yourself resting a little...

Although it initially appeared that a stable spring would set the markets up for a calm, quiet summer, a flurry of recent activity is testing investor sentiment.

529 plans are designed for saving for education and are beneficial since contributions accumulate and grow tax-free as long as withdrawals are used for qualified education expenses. They may also be part of a wealth transfer strategy.

Pension plans are still offered at many types of employers today. A pension plan is an employer-sponsored retirement savings plan the employer contributes toward to fund their employees' future retirement.

For those on a fixed income, the true costs of inflation and market volatility can be much higher—potentially jeopardizing a comfortable retirement. Here are several ways seniors can navigate the effects of inflation and market volatility.

Among the many changes that joining the military brings, a frequent change in location is sometimes part of the territory. But if you’ve made the decision to buy a home, you deserve to feel confident in your choice. These tips can help!

While the strength and fortitude of those who run small businesses can be an asset in helping them succeed when times are rough, here are a few strategies that can make survival a little easier.

The sound foundation of our financial system corroborates our constructive optimism of the upward and long-run trend of markets, despite headlines designed to jar nerves and test our steadfast resolution.

SECURE 2.0 includes significant changes to the rules that apply to required minimum distributions from IRAs and employer retirement plans. Here's what you need to know.

Social Security recipients are targeted by some of the most sophisticated scam artists out there. From phone scams to phishing attempts and intercepted deposits, here are three common Social Security scams and how you might avoid them.

As you age, the question of when to collect Social Security (SS) retirement benefits will likely come to mind. Some SS strategies may boost your monthly benefit amount, helping you get the most from your SS benefits.

Before you rush to get that return out the door, are you confident you have everything in order to make your tax filing go as smoothly as possible? Here are five last minute details to double check before Tax Day.

We want to provide some important information regarding the resilience of LPL Financial’s business model and more. Read more here.

Financial markets have experienced quite a bit of change this year in just two short months. We remain confident that a new bull market will come—it just may require a bit more of our patience before we get there.

If you work after you start receiving Social Security retirement benefits, your earnings may affect the amount of your benefit check.

Spring cleaning presents a great opportunity to clear out any items you no longer need—and the same goes for your finances. Here we discuss what's included in a financial review and how such a review can help you spring clean your finances.

As you get older, the question of when to collect Social Security retirement benefits and how your monthly payment may be impacted by working is essential. Here's what to consider before making your decision.

As more and more consumers search for financial information on the Internet, they may inadvertently leave themselves open to being “tracked”. Investors are now faced with growing concerns about keeping their financial matters private.

Whether you’re one to set ambitious New Year’s resolutions or simply use the beginning of the year to reset on a few habits, there’s almost always some value in reflecting on the past year before looking ahead. The...

What might seniors do to get back on track after their retirement plans have gone awry? Here are four steps that might help you respond to some retirement setbacks.

Many workers have been dreaming of retirement since they first entered the workforce. However, once this retirement date draws near, the prospect of giving up your primary source of income may be nerve-wracking...

It’s never too early to think about how and where you want to live when you’re older.

Many people incorrectly assume that life insurance is available only to younger adults. While death is a certainty for all, younger people may be statistically less likely to cause a claim on their policy.

We wish you a happy New Year and hope you were able to close out 2022 with friends and family.The beginning of a calendar year is often the time when the previous year’s reflections transition to a new year’s hopes. Given...

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount...

In generalThe federal government provides tax relief to qualifying individuals in the form of tax credits. Tax credits are valuable because they are dollar-for-dollar reductions of your tax liability. In some cases, they may result in...

Identity theft runs rampant during tax seasonHere’s what to know and how to protect yourself.Identity thieves often swipe your bank or credit card account numbers, birth date information or Social Security Number (SSN) to steal...

With tax season coming to an end, it’s the ideal time to use this year's tax return to help update your financial plan. If you’re in the group of one in four Americans who do not already have a financial plan, it may be...

In generalWhether they're snatching your purse, diving into your dumpster, stealing your mail, or hacking into your computer, they're out to get you. Who are they? Identity thieves.Identity thieves can empty your bank account, max out...

Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the markets...

If one of your New Year's resolutions involves enhancing and expanding your investment portfolio, look no further. In a true New Year's Eve countdown tradition, ask yourself these 10 questions to help review your investment plans...

What are year-end investment decisions?Year-end investment decisions may sometimes result in substantial tax savings. Tax planning may allow you to control the timing and method by which you report your income and claim your deductions...

At the end of the year, it is necessary to reflect on your financial picture, review the last 12 months, and plan for the future. With all that is involved, it can seem overwhelming. Consider breaking up the responsibilities over...

Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday chores to make some strategic saving and investing decisions before December...

Every week is the perfect week for military families to take stock of their finances, make the most of special saving opportunities, and prepare for the future.Here are seven moves that military families should make right now.1. Make...

October is now behind us and it has delivered on its track record as a historically favorable month for stocks, offering some respite for investors as major equity indices rose for the month. The downside pressure on equities had...

If you're avoiding looking at your 401(k) balance during periods of market volatility, you're not alone. While the S&P 500 has historically produced an average annual return of 11%, recent market downturns may be impacting your...

With a series of important economic indicators suggesting the economy is declining and inflation is finally decelerating, albeit very slowly, markets are beginning to factor in that the Fed may soon transition to a less aggressive...

What are appropriate checklists for year-end tax planning?Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...

Service branches offer campaigns and educational programs to servicemembers and their families. The Air Force, Navy, and Army each require that respective members receive financial education, training, and counseling. Also, the...

If the U.S. economy enters a recession, the causes and potential outcome will be hotly debated. At LPL Research, our starting point is always looking at history. This week’s commentary will remind us of three things we know about...

Expectations are very low for this earnings season. The challenges are many, with intense cost pressures and slowing economic growth at the top of the list. The chorus of analysts and strategists calling for big cuts to estimates has...

As Federal Reserve (Fed) officials continue to emphasize the Fed’s commitment towards restoring price stability, the dollar marches ever higher. Markets are currently pricing in another 75-basis point rate hike at the November 2...

By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death, based on your goals and objectives.Whether you're a...

The classic definition of a correction is a decline of 10% or more in a stock index. A bear market is a downturn of 20% or more in several broad market indexes, typically over a period of several months or longer.It's generally a...

On October 16, China will begin its 20th National Congress of the Chinese Communist Party in Beijing. This plenum is especially significant because it is expected that President Xi Jinping will be granted an unprecedented third term,...

In the last several weeks, we have continued to face elevated uncertainty in financial markets due to high inflation and rising interest rates. We felt it was an important time to take stock with the final quarter of 2022 just ahead.

How resourceful can you be during your retirement? Determining where your retirement money will come from is an integral part of planning for retirement. Most people draw on three main sources of income: Social Security,...

What does "coordination with government benefits" mean?In the context of long-term nursing home care, a number of governmental (and governmentally regulated) programs and tools exist to help you pay for this care. Medicare, Medicaid,...

The LPL Research Strategic and Tactical Asset Allocation Committee is increasing its recommended interest rate exposure in its tactical allocation from underweight to neutral. Now that interest rates have moved substantially higher, we...

Inflationary dynamics continue to surprise to the upside, and markets now expect the Fed to pursue one of its most aggressive rate hiking campaign in years. U.S. Treasury yields continue to move higher as well. We think we’ve...

Federal Reserve Chairman Jay Powell reiterated his warning that getting inflation under control will require some pain. Powell is likely making these warnings based on the arcane, clunky relationship between inflation and unemployment....

When it comes to stock market performance, August was “the best of times, and the worst of times.”

The difficult 2022 for stocks may not get much easier because as we now wait for better news on the inflation front, we have to contend with a seasonally weak month of September. While we got some welcome news in Friday’s jobs...

Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed...

A recent survey by Caring.com found that a whopping two in three American adults do not have an estate plan1—an alarming statistic, considering that an estate plan can protect your assets and ensure that they go to the right...

Earnings growth of 6-7% doesn’t sound very exciting, but given the challenges corporate America has faced, we consider the nearly-complete second quarter earnings season a resounding success. The numerous challenges last quarter...

Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities...

If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options.What will I be entitled to?If you leave your job (voluntarily or involuntarily),...

Existing home sales fell 5.9% in July, the sixth consecutive month of declines as higher interest rates weigh on housing affordability and prospective buyers. As the housing market slowed, so did prices. The median price for a single...

Investors cheered the two better-than-expected inflation reports last week, pushing the S&P 500 to 16% above its June 16 low and only 11% below its all-time high. After this rebound, the key question investors are asking is whether...

The market pundits remain intensely focused on the question of whether the U.S. economy is in or about to enter recession, so we thought a piece on what a recession might mean for the stock market would be of interest.

Five easy pointers to help you plan during all of your retirement yearsIf 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:...

Last week was epic for market-watchers. A Federal Reserve (Fed) rate hike, a much-anticipated gross domestic product (GDP) report, and the busiest week of earnings season got most of the headlines. There was even a surprise out of...

All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful. And asset allocation and diversification alone cannot guarantee a profit or eliminate...

That was quite a week. These days a Federal Reserve (Fed) policy meeting alone gets a lot of headlines and has market participants on the edge of their seats. Add to that the second straight quarter of negative gross domestic product...

Doing your homeworkBefore investing in publicly traded securities, it would be wise to do some research--at least enough to understand just what you're investing in. An educated investment decision involves some knowledge of the stock...

After his grandfather died more than a decade ago, Lamarr Couser and his family were caught by surprise when the funeral director asked whether the World War II veteran was covered by a life insurance policy from the Department of...

For the past year, supply-related problems contributed more to inflation than demand-related imbalances, but that may be changing soon. There are at least three factors that could change the course of inflation. First, the improvement...

Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...

Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...

With a volatile stock market, the Fed Funds rate near zero, and inflation the highest since 1982, some may seek an investment that can protect their purchasing power and limit their market exposure. A-Series I Bonds are appropriately...

Stocks have been unable to make up much ground since the June 16 lows, with a bear market rally amounting to only around a 4.3% gain in the S&P 500 Index since then (as of July 1). After the more than 6% rally the week of June 24 and...

Hiring employees is sometimes a difficult task. You may need to find employees who fit the business culture and have the skills to get the job done. The good news for small businesses looking for employees with various skills and a...

Market volatility could spook even the most seasoned investor. If a precipitous week or two in the market has you ready to sell, you may want to reconsider your risk tolerance and asset allocation. Attempting to time the market by...

For members of the "Sandwich Generation"—those currently in their 40s and 50s who are caring for children and their parents who are over 65-years old—estate planning may seem like a low priority. After all, when you're...

2022 has been rough all-around for the American consumer. Not only are we battling decades-high inflation, but investors’ portfolios are off to one of the worst starts to a year in history as we near the halfway point. Our...

Your retirement planning needs to incorporate more than just investments!Your open heart and your relatives can combine to threaten your retirement savings – savings you soon may need. Learn the true cost to your future before...

The bear market that started on June 13 has left the S&P 500 Index 23.5% below its January 3 high. After the initial positive reaction to the Federal Reserve’s first 0.75% rate hike since 1994 and tough talk on inflation,...

A bear market is officially here thanks largely to stubbornly high inflation. For many of us, it has probably felt like a bear market for a while now, but the S&P 500 Index didn’t close more than 20% below its January 3 record...

This year has been tough for investors, not just because stocks have fallen but also because bonds have not helped mitigate those losses as they have historically done. Below we discuss the outlook for diversified portfolios of stocks...

Many pundits are issuing recession warnings and saying the economy is heading for a hard landing. Amid the cacophony of voices, we think the economy is slowing just like central bankers want but not shrinking. Further, we argue that a...

The bull market that began in March of 2020 came dangerously close to an end. From March 23, 2020 through January 3, 2022, the S&P 500 Index gained 114% (excluding dividends). From that January 3 closing high through the recent low on...

At the risk of sounding cliché, making the case for stocks to stage a second half rally back to the prior highs requires investors to see through some heavy cloud cover. If you prefer another market cliché, it’s times...

We hope everyone enjoyed the Thanksgiving holiday with family and friends. While life has been challenging during the pandemic, we have a lot to be thankful for. At this time, we are especially grateful for COVID-19 vaccines and...

Although you don't have to wait until January to begin working on your financial goals, a new year may bring a much-needed fresh start on your spending and saving goals. Read on for three financial moves you may want to consider before...

Unless you have accumulated substantial wealth where money is not a concern, you face a critical task when you reach retirement to make sure that your assets will support you through your lifetime. When you retire and no longer earn an...

Spend as much time fixing your mistakes as you do planning the holidays You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your...

There are only six weeks to go in 2021 and it has been an incredible year for the stock market bulls. In fact, in many ways it could go down as one of the best years ever. This week, in honor of Thanksgiving, we wanted to take a...

Members of the military have a lot of special financial challenges that most people don't encounter. However, they have access to many benefits, tax breaks and legal protections that can make a huge difference in their families'...

After an upside inflation surprise in October, it’s clear that peak inflation may still be ahead, possibly even pushing into 2022. While the Federal Reserve (Fed) maintains its position that elevated inflation will be transitory...

To ease some of the burdens of the upcoming tax season, this helpful guide will help you become familiar with important dates, deadlines, challenges, and opportunities that may come up toward the end of the year. Of course, if you have...

Since we began our investing careers, we’ve had the concept of diversification drilled into our heads. Some refer to it as the only free lunch in investing. Well, when it comes to geography, that advice hasn’t been helpful...

The past year and a half have tested all of us, but overall, the economy continues to strengthen, COVID-19 trends are greatly improving, and this still relatively young bull market is alive and well. As the leaves turn colors and begin...

With Halloween over the weekend, what better to write about this week than what scares us? If our positive near-term market outlook proves to be overly optimistic, we believe one—or perhaps more than one—of these five...

Long-term care insurance is a type of insurance that covers the costs related to long-term, chronic health concerns. It may cover things that traditional health insurance does not cover, such as personal care services. If you have a...

For some, 2021 has flown by—and as we approach the last quarter of the year, it's a good time to begin planning for the next one. Year-end planning is especially important for retirees and those hoping to retire in 2021 or 2022....

Every Veteran is unique and requires personalized financial advice. According to the most recent data from the U.S. Census, there are over 17 million Veterans in the United States and more than nine million of these Veterans are served...

Veterans' retirement benefits are among some of the most generous out there, in large part due to the risks and sacrifices that come from military service. But navigating this array of benefits may seem complicated. What should...

Whatever your age, it’s never too soon to look ahead and begin giving thought to your retirement. With proper planning, you can make the transition to retirement a smooth, comfortable and confident ride. Today, more than ever,...

It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that only the wealthy require estate planning or that all that is involved is...

Have you ever thought about what would happen if you or a family member were no longer able to live independently? What if your elderly parents were no longer able to drive or perform basic activities of daily living, such as bathing...

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2 Americans are budgeting more due to the pandemic....