An Honest Approach to Financial Management
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Welcome to our research center! We've put together a library of information on important financial topics that we believe you'll find helpful.
Simply click on one of the general financial topics below and you'll find a selection of easy-to-understand information sheets about related financial concepts and strategies. This information is updated regularly to reflect the latest facts, figures, legislation, and economic trends.
What Key Estate Planning Tools Should I Know About?
Wills and trusts allow you to spell out how you would like your property distributed, but they also go beyond that.
How Can a Living Trust Help Me Control My Estate?
A living trust can help control the distribution of your estate upon death.
What Are the Pitfalls of Probate?
The probate process can be lengthy and complex. There are strategies you can use to help avoid the probate process.
How Can My Gift Benefit Me and the Charity?
To retain the tax advantages associated with charitable giving, your gift must be made to a qualified organization.
How Can I Control the Distribution of My Estate?
If you haven’t taken steps already, consider planning now for the distribution of the assets of your estate.
How Will I Pay Estate Taxes?
If you believe your estate will be subject to estate taxes, consider how your heirs will pay the bill.
Can I Benefit from an A-B Trust?
An A-B trust can be an effective way to help reduce estate taxes and preserve family assets for heirs.
How Can I Benefit from a Charitable Lead Trust?
Charitable lead trusts are designed for people who would like to benefit a charity now rather than later.
How Can I Benefit from a Charitable Remainder Trust?
A designated income beneficiary could receive payment of a specified amount from a charitable remainder trust.
Could My Family Benefit from a Family Limited Partnership?
One estate planning strategy that families with closely held businesses could consider is the family limited partnership.
What Is the Best Form of Property Ownership for Me?
Sole ownership, joint tenancy, tenancy in common, and community property have special benefits for property owners.
What Is the History of the Federal Estate Tax?
Careful estate planning is still one of the most important ways to manage and protect your assets for your heirs.
What Is a SEP IRA?
A SEP IRA is a type of plan under which the employer contributes (up to a certain limit) to an employee’s IRA.
What Is a SIMPLE?
The SIMPLE plan may appeal to small business owners as it is easy to set up, administer, and allows for a tax deduction.
What Is an IRA Rollover?
If you leave a job or retire, you should consider your options regarding your employer retirement plan assets.
What Is a Roth 401(k)?
A Roth 401(k) is funded with after-tax money, and allows for tax- and penalty-free withdrawal of earnings if requirements are met.
What Is a Profit-Sharing Plan?
Profit-sharing plans give employees a share in the profits of a company and can help to fund their retirements
What Is a Money Purchase Pension Plan?
A money purchase plan is a retirement plan where employer contributions are based on a fixed percentage of compensation.
What Is a 403(b) Plan?
A 403(b) plan is a tax-deferred retirement savings plan that can only be offered by a 501(c)(3) tax-exempt entity.
Why Do People Buy Annuities?
Annuities, an insurance-based financial vehicle, can provide many benefits that retirement investors might want.
How Much Do I Need to Save?
Many realize it’s important to save for retirement, but knowing exactly how much to save is another issue altogether.
A New Chapter for Retirement
With the changing pension landscape, it is important to take charge of your own retirement security.
What Is a 1035 Exchange?
A Section 1035 exchange is a tax-free exchange of an existing annuity contract or life insurance policy for a new one.
Will Social Security Retire Before You Do?
Greater demand is being placed on the Social Security system as the baby boom generation has begun to retire.
What Are My Retirement Plan Distribution Options?
When receiving money accumulated in your employer-sponsored retirement plan, you have two options: lump sum or annuity.
What Is a 401(k) Plan?
401(k) employer-sponsored retirement plans have many benefits, including that the funds accumulate tax-deferred.
What Is a Roth IRA?
Qualified Roth IRA distributions in retirement are free of federal income tax and aren’t included in gross income.
What Is the Estate Tax?
Everything you own, whatever the form of ownership, is subject to federal, and possibly state, estate taxes.
What Is the Gift Tax?
The federal gift tax applies to gifts of property or money while the donor is living.
How Much Money Can I Put Into My IRA or Employer-Sponsored Retirement Plan?
IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government.
What Is a Required Minimum Distribution?
Required minimum distribution is the annual amount that must be withdrawn from a qualified retirement plan/account.
What Are the Tax Benefits of Charitable Trusts?
For the grantor, there are a few potential tax benefits that can come with setting up a charitable trust.
When Must Taxes Be Paid on IRA and Employer-Sponsored Retirement Funds?
With traditional IRAs and most employer-sponsored retirement plans, taxes are not payable until funds are withdrawn.
What Happens If I Withdraw Money from My Tax-Deferred Investments Before Age 59½
Tax-deferred retirement account withdrawals before age 59½ generally triggers a 10% federal income tax penalty.
What Is Tax Deferral?
There can be a substantial benefit to deferring taxes as long as possible.
What Tax Deductions Are Still Available to Me?
Changes to the tax code have left a few key deductions for itemizers, like medical, dental and some business expenses
What Is the Most Tax-Efficient Way to Take a Distribution From a Retirement Plan?
Consider a trustee-to-trustee transfer to an IRA versus a lump-sum distribution from a workplace retirement plan.
How Can I Upgrade My Insurance — Tax-Free?
A 1035 exchange allows you to exchange your life insurance policy for one from another company without tax liability.
What Is the Tax History of the United States?
United States tax law is a constantly changing landscape. The latest major piece of tax legislation is the Tax Cuts and Jobs Act of 2017.
What Are Some Tips for Managing My Money?
A sound cash management program uses a disciplined approach: accounting, analysis, allocation, and adjustment.
How Long Will It Take to Double My Money?
Before making investment decisions, it is helpful to determine the real rate of return on the investment.
What Cash Management Tools Are Available?
Short-term cash management instruments can help you establish a sound cash management program.
How Do Money Market Mutual Funds Work?
Money market funds can be a highly liquid and effective cash management tool.
How Can I Better Manage My Short-Term Cash?
There are numerous investment alternatives available to help provide liquidity.
What Advantages Does a Biweekly Mortgage Offer?
Biweekly mortgage payments can have a dramatic effect on the amount of interest homeowners have to pay.
What Are Some Smart Ways to Refinance?
Here are some smart ways to refinance your home.
What About Financial Aid for College?
It’s important to understand the options, such as financial aid grant programs, when having to pay for college.
What Savings Alternatives Are Available?
There are a number of savings alternatives that could help you earn a reasonable rate of return.
Is a Home Equity Loan or Line of Credit Right for Me?
Shifting some debt to a home equity loan, which typically allows interest payments to be tax deductible, could have its advantages.
Unforgettable Birthdays
There are key dates after you turn 59½ that can impact your taxes, Medicare eligibility, and retirement benefits.
What Are My Retirement Planning Options?
There are a variety of retirement planning options that could help meet your needs. Here are some of the most popular.
What Is a Self-Employed Retirement Plan?
Tax-deferred retirement plans for self-employed individuals have higher contribution limits than IRAs.
How Should I Manage My Retirement Plan?
Employer-sponsored retirement plans are more important than ever, but managing the assets can be confusing.
Why Purchase Life Insurance?
If you have a family who relies on your income, it is important to have life insurance protection.
What Is Property and Casualty Insurance?
Property and casualty insurance can help protect a variety of assets. Find out what it does and doesn’t cover.
Do I Need a Business Owner Policy?
A business owner policy is an insurance package that assembles the basic coverages required by a business owner in one bundle.
What Is Life Insurance for Business Owners?
Company-owned life insurance is one way to help protect a business from financial problems caused by the death of a key employee.
What Is Split-Dollar Life Insurance?
Split-dollar life insurance is an arrangement to purchase and fund life insurance between two parties.
What Is Last-Survivor Life Insurance?
Couples who want to help protect their legacy from estate taxes could consider last-survivor life insurance.
What Is Disability Income Insurance for Business Owners?
As a business owner, a disability can create an economic hardship putting both your personal finances and business at risk.
What Is Term Life Insurance?
Term life insurance differs from permanent forms of life insurance in that it offers temporary protection.
What Is Whole Life Insurance?
Some of the pros and cons of whole life insurance.
What Is Universal Life Insurance?
Consider a universal life insurance policy if you want the flexibility to change your premium or death benefit.
What Are the Main Types of Auto Insurance?
Even if your state doesn’t require certain types of auto insurance, it may be wise to purchase multiple types to ensure you are covered for a variety of situations.
How Do I Make a Property Insurance Claim?
When it is time to make an insurance claim, it helps if you are familiar with your policies and the steps you should take to file a claim.
How Can I Maximize My Insurance Benefits?
Several factors could undermine the financial security provided by the proceeds of your life insurance policy.
How Can I Insure My Future?
To help you choose insurance wisely, determine how much coverage and what kind of policy is best for your situation.
How Can I Protect My Home?
Since your home is one of your greatest assets, you should make sure it is adequately protected. That’s where homeowners insurance enters the picture.
Do I Need Disability Income Insurance?
Knowing the basics of a disability income insurance policy is a good first step toward protecting your family
What Types of Health Coverage Are Available?
There are three basic types of medical insurance plans: fee-for-service, managed care, and high-deductible health plan.
How Can I Extend My Liability Coverage?
Consider additional liability insurance to help protect you from the potentially devastating effects of liability lawsuits.
What Is the Difference Between an HMO and a PPO?
Selecting health insurance is often one of the most important decisions you will make. Do you know the different types?
How Can I Determine the Financial Strength of My Insurance Company?
Using a financially sound insurance company is an important part of ensuring your family’s financial security
What Does Medicare Cover?
Medicare is the federal health insurance program for those persons age 65 and over. But what does it cover?
Am I Prepared for Long-Term Care Expenses?
The odds of needing long-term care increase as you age. Prior planning can help protect you from financial ruin.
Should You Bank Your Retirement on Your Business?
Allocating too much of your retirement investments to one company, even your own, can be a risky proposition.
How Can I Estimate My Future Social Security Benefits?
The Social Security Administration’s retirement estimator gives estimates of your future benefits based on your actual Social Security earnings record.
What Is a Traditional IRA?
If you do not participate in an employer-sponsored retirement plan, you might consider a traditional IRA.