Why Digital Asset Management Matters More Than Ever
In a world where technology drives our daily lives, it is no surprise that we have increasingly placed more value on our digital identities and belongings, also known as digital assets.
Essential Reminder: Take Your Required Minimum Distributions
As the year draws to a close, retirees need to remember to take their Required Minimum Distributions (RMDs) from retirement accounts. The Internal Revenue Service (IRS) mandates this annual withdrawal for individuals who have reached a certain age, and failing to take it can result in significant penalties. Required Minimum Distributions are the minimum amounts…
Bryn Mawr Trust Survey Reveals Americans Value Digital Assets at $191,516 on Average, But Gaps Exist in Digital Asset Awareness and Estate Planning
Despite placing six-figure valuations on their digital assets, Americans are largely neglecting these assets during financial planning
Securing Your Legacy: Why Updating Your Beneficiary Designations Matter
As the year closes, it’s a good time to update your beneficiary designations, which is a vital yet often overlooked step in financial planning. Life changes such as marriage, divorce, and the passing of a loved one can leave outdated beneficiary information on accounts. Failing to update these can create confusion, delay, and even prevent…
Year-End Tax Planning: Maximizing Tax Savings with Tax Loss Harvesting
As we fast approach the end of 2024, tax planning becomes critical. One strategy that doesn’t always get the attention it deserves is tax loss harvesting. While the term might sound technical, the concept is simple, and when applied correctly, it can yield significant benefits. Let’s break down tax loss harvesting, why it matters, and…
The Three Most Important Questions to Answer Before Gifting to Charity This Year
For many of us, the end of the year is often a mad dash for charitable giving. Before you write that check this December, take time to reflect on how you will gift, the timing, and who will gift alongside you to make your donation most meaningful. There are many ways to give, including the…
2024 Year-End Tax Planning Essentials
It may be hard to believe, but December 31 will be here soon. Now is a great time to review your finances and implement smart tax planning to reduce your tax bill potentially. Here are seven essential strategies to consider. 1. Tax-Loss Harvesting Tax-loss harvesting involves selling investments that have lost value to offset capital…
How Much Are You Budgeting for Retirement?
Many long-term financial plans involve setting a target for a total amount of savings. Sometimes, this target is framed as multiples of income, and other times as a general round number. These goals are helpful in the accumulation phase of our lives, but it is also financially prudent to estimate what your spending might be…
Resources — 2024-2025 Year-End Tax Planning Guide [PDF]
Staying current on the evolving tax landscape is crucial for effective financial planning. Download our Annual Tax Planning Guide and Year-End Planning Checklist to help keep you informed and on track about current tax and legal regulations.
Navigating Health Savings Accounts: Contributions, Coverage, and Retirement Benefits
Since 2003, HSAs have grown in popularity for savings and qualified medical expenses. Contributions are deducted on a pre-tax basis directly from your paycheck, avoiding federal taxes on both the money invested and the growth of the investment.