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Women and Wealth: The Journey Towards Financial Empowerment

How today’s women are taking charge of their financial well-being. The concept of women and money has undergone significant transformations over the years. Many female baby boomers, who often filled traditional roles in child-rearing and household management, found themselves financially dependent on their spouses. Comfortable taking a backseat in managing the family’s financial affairs, many…

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Financial Planning Essentials: Tax Preparation versus Tax Planning

While tax preparation and tax planning are both critical components of managing your financial health, they serve distinctly different purposes. It’s essential to understand the difference between these two processes. Tax preparation focuses on reporting past financial activities. This involves compiling and submitting tax returns to the IRS to report income, deductions, and credits for…

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What the Latest Social Security Report Means for Your Retirement Planning

For many, social security income, in conjunction with pension income and investment portfolio withdrawals, is relied upon to meet cash needs in retirement.  For several years now, there has been concern that the social security system may not provide the benefits that many workers are counting on. First, for some background:  Social Security is a pay-as-you-go program.  This…

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DOL’s New Fiduciary Rule Reiterates the Importance of Working with a Fiduciary Advisor

If you follow the financial news, the term fiduciary has come up repeatedly over the last several weeks, primarily due to the Department of Labor announcing a rule mandating that financial advisors put client’s best interests first when making recommendations for retirement plan rollovers to IRAs and annuities.  There are many who oppose this rule; primarily advisors who…

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Understanding the Banking Storm – From Crisis to Confidence

In light of the recent banking crises involving Silicon Valley Bank (SVB), Signature Bank, and the takeover of First Republic Bank by JPMorgan Chase, US policymakers have shown their commitment to “backstop” all deposits and created the Bank Term Funding Program (BTFP) to support vulnerable banks. These crises were likely due to a combination of…

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