The fourth quarter of the year is crucial as it represents an opportunity to assess the past year's portfolio performance, gauge current investment strategies, and lay the groundwork for the coming year. These end-of-year reviews are more than just reviewing the highs and lows of market performance. Instead, they provide thoughtful insights that can impact the financial strategies used as one works toward their goals in the forthcoming year.

Here are the five critical areas that a fourth-quarter review will assess.

Portfolio performance

Fourth-quarter reviews enable investors to measure how well their portfolio has performed against projected outcomes and predefined goals. This assessment helps investors and financial professionals evaluate the...

The fourth quarter of the year is crucial as it represents an opportunity to assess the past year's portfolio performance, gauge current investment strategies, and lay the groundwork for the coming year. These end-of-year reviews are more than just reviewing the highs and lows of market performance. Instead, they provide thoughtful insights that can impact the financial strategies used as one works toward their goals in the forthcoming year.

Here are the five critical areas that a fourth-quarter review will assess.

Portfolio performance

Fourth-quarter reviews enable investors to measure how well their portfolio has performed against projected outcomes and predefined goals. This assessment helps investors and financial professionals evaluate the...

As the U.S. population ages and life expectancies continue to increase, Social Security policymakers and experts are considering various adjustments and updates to the program to help lengthen its long-term sustainability. Three significant discussions are underway that may impact Social Security retirement benefits starting in 2025.

Using a different index to determine COLA

Another proposed change concerns calculating cost-of-living adjustments (COLA) for Social Security retirement benefits. Some policymakers have suggested using a different index, such as the Chained Consumer Price Index for All Urban Consumers (C-CPI-U), to accurately reflect changes in the cost of living. This adjustment could result in a lower annual increase in benefits but may help...

Many individuals' wealth comes with the ability to create thoughtful and impactful change for others. However, making the foundation for impactful giving requires strategic planning and understanding how to transform their assets into lasting legacies. With a comprehensive approach, giving-minded individuals can skillfully transfer their assets into an enduring legacy that impacts communities and causes they care about.

This outlines how individuals can use an eight-step approach to engage in thoughtful and impactful giving that transforms assets into positive change.

Begin with a Strategic Giving Plan

The path from assets to impactful legacies must always start with a strategic giving plan. Strategic planning aligns your...

Financial professionals often discuss insurance with their clients because it is an essential component of comprehensive planning. While many people associate financial professionals solely with investments and planning for retirement, the reality is that insurance plays a crucial role in protecting and preserving wealth.

This article discusses the five reasons financial professionals discuss insurance with their clients during meetings and suggests specific insurance products.

Risk mitigation

One of the primary reasons financial professionals discuss insurance with their clients is to mitigate risk. Insurance products such as life insurance, disability insurance, and long-term care insurance can help safeguard against unexpected events that could...

Are you tired of living paycheck to paycheck, feeling like you never have enough money to cover your expenses and save for the future? If so, you're not alone. Many people struggle with transitioning from being a spender to a saver. However, with the right mindset and some strategic changes, you can transform your financial habits and start building a more secure future for yourself. Here are the steps to take toward this transformation.

Assess Your Current Situation

The first step in transforming from a spender to a saver is to examine your current financial situation carefully. This examination includes understanding your income, expenses, and debt by outlining your monthly payments, including bills, groceries, entertainment, and other discretionary...

Understanding what long-term care (LTC) entails is vital in formulating an appropriate care plan. LTC refers to services designed to help care for an individual's health or personal care needs for a short or extended period. These services assist people in living independently and safely when they can no longer perform everyday activities independently.

But for single individuals, the need for LTC services might be more imminent due to a lack of partner or immediate family support. Planning for long-term care (LTC) is essential to financial management and personal well-being.

Addressing this crucial need has become more pertinent with the ever-increasing healthcare costs and a growing aging population. This articles addresses the six steps singles must comprehensively...

The landscape of retirement savings in the United States is experiencing crucial changes following newly enacted legislative changes for 2024. These updates and reforms seek to enhance the flexibility of retirement savings accounts and transform how Americans save and prepare for retirement. Here are some of the more significant changes this year.

Contribution increase

One key 2024 retirement savings legislative update pertains to contributions into retirement plans such as the 401(k). The legislation introduces a significant increment in contribution limits, allowing Americans to save more for retirement. This change enables individuals to accumulate a more substantial retirement savings nest egg and allows them to manage their taxable income, given the...

Retirement is a time to enjoy the fruits of your labor. But even after you have stopped working, it's important to make sure your money continues to work for you. Investing wisely can help you maintain your lifestyle, protect your nest egg, and even leave a legacy for your loved ones. Here’s a straightforward five-step guide to help you navigate investing after retirement.

Step 1: Revisit Your Financial Plan

Financial planning is not just for building wealth—it’s equally important during the years you’re spending it. The economic landscape, marked by events like the pandemic and market fluctuations, can impact your retirement portfolio. It is wise to sit down with your financial advisor to review your investment portfolio. Make sure your investment...

When inflation increases, people often feel the sting of paying more for groceries, gas, and almost everything else. Many may feel inflation is terrible because their paychecks are shrinking, and they don't like paying more for the same items. But inflation also has positive benefits that may occur over time, such as:

Wages increase- Employers often increase wages for their current employees and new hires to attract and retain workers during inflation. For a period, inflation may increase job openings at employers with lower wages until they increase their wages too. Higher wages bring more money into the economy as workers have more money to spend.

Property values increase- Pre-existing homes, automobiles, and some investment strategies...