By Preston Rosamond As we get closer to the 2020 election, we’re hearing more about everything from international relations to immigration to, of course, the economy. Economic policies are common campaigning platforms for all parties, and this year is no different. We’re seeing promises to decrease unemployment, cut taxes, increase GDP, and so forth. Not surprisingly, these promises are immensely attractive to voters. This election season, candidates’ promises in regards to the economy are more...
By Preston Rosamond When you make a charitable contribution, your main goal is to support organizations you’re passionate about and to benefit those in need. It used to be that a nice tax break was just an added perk. Unfortunately, the new Tax Cuts and Jobs Act, with its higher standard deduction, causes many people to lose out on the tax benefits associated with charitable giving. But don’t be discouraged! You can still receive tax...
By Preston Rosamond Often, just keeping the lights on when you’re running your own business takes up all your time. Still, you must take the time to plan for the day you no longer can manage the business, or wish to exit for some other reason. This planning becomes more complicated, and also more vital, when you have business partners. We frequently work with business owners and encourage them to have a buy-sell agreement in...
By Preston Rosamond When we think of retirement, our minds often go to two things: money and our dreams of our ideal retirement. But we often forget some things—namely planning for the transition into a new reality and the emotional and psychological changes that happen in retirement. Retirement isn’t just about having enough money in the bank to quit work. Yes, you need a stream of income you can’t outlive, but it’s also about more...
The Paycheck Protection Program (PPP) was designed to assist employers in maintaining payroll even when they were shut down or limited by the COVID-19 containment efforts. The most appealing part of the program, perhaps, was the fact that the loans would be eligible for either partial or full forgiveness. While helpful, the program has had many problems and been a source of much confusion for business owners. The Small Business Administration (SBA) recently issued rules...
By Preston Rosamond In the fall of 2019, index funds finally surpassed actively managed mutual funds. As of August 31 of last year, $4.27 trillion was invested in index funds and only $4.25 trillion in their active counterparts. (1) Clearly, index funds have seen an incredible rise in popularity over the last decade. The question, though, is whether or not their popularity is justified. Are index funds really as great as everyone thinks? Here are...
By Preston Rosamond Life is busy and stressful enough on its own. The last thing you need to deal with is a hacked account or worry about identity theft. Unfortunately, as we become increasingly dependent on technology and use multiple devices on any given day, there are more opportunities for our personal information to be compromised. But no matter how daunting this may seem, just remember that knowledge is power. One of the best things...
By Preston Rosamond Are you wanting to buy a house in an area with picturesque views of lakes and wildlife? If you said yes, then Highland Lakes is a perfect choice, with a chain of six lakes dispersed across the area and where wildlife is easily spotted. Now you just need to determine how much you can afford—and want to afford. If you have already started thinking about a price range, you need to keep...
By Preston Rosamond I don’t think many of us would argue with the importance of having insurance. And I’d be willing to bet you already have medical, auto, and home insurance to protect your household and finances from unforeseen circumstances, such as medical diagnoses, car accidents, or weather-related damage. But what happens when these types of insurance policies don’t provide enough coverage for what you need? Many times your homeowner and auto policies have limits...
By Preston Rosamond As entrepreneurs and business owners, you understand how to work hard, use all resources available to you, and be creative with providing solutions to problems that arise. But are you taking measures to protect what you have worked so hard to build? You’ve done the hard part of starting and growing your business, so don’t let one of these simple precautions put you in a predicament that jeopardizes your largest asset. Here...
By Preston Rosamond No one can deny that we are in the thick of things right now. Between a global pandemic, economic worries, and political uncertainty, it’s no surprise that we are seeing increased market volatility. All of this uncertainty may be causing you to wonder, “How will this affect me?” or “Will my portfolio recover?” Your Financial Plan Is Secure Even though this current volatility came as a surprise to most of us, that...
By Preston Rosamond We are living in unprecedented times, with hourly briefings and updates that cause many of us to lose sleep at night. We get it. Life is going to look very different for a while. But the good news is you have someone on your side who is committed to you, your life, and your finances. No matter what happens, you have us to rely on. Do your friends and family have this...