As we approach the end of the calendar year, it’s a good time to review some last-minute planning items that can result in 2020 tax savings. One such item is making contributions to 529 education plans in states that offer a tax-break on dollars that are deposited within the calendar year. For example, Michigan offers … Continued
We generally like to put out information that is helpful to all of our clients. In this case, Michigan auto insurance reform only applies to our Michigan clients. As a result, we are emailing this information to those clients that will be directly affected (i.e. current Michigan residents). However, we have also opted to include … Continued
There has been a great deal written about the retirement opportunities provided by an informed and intelligent approach to your 401(k). However, given the importance of effectively managing your 401(k), a fresh look can’t hurt. A recent article in USA TODAY presented 7 useful steps towards making the most of your 401(k), as summarized below. … Continued
Aretha Franklin’s wasn’t. Prince’s wasn’t. Pablo Picasso’s wasn’t. When you die and have not listed beneficiaries for your assets or titled your assets in the name of a trust, the courts in your state determine where your assets go. Many people don’t realize that a will does not avoid probate. A will simply informs the … Continued
Experts agree that financial exploitation of older people is a problem that is growing as America ages, and that it is significantly underreported. While some high-profile examples have been widely reported, financial exploitation tends to be a hidden crime and, within families, victims don’t want to prosecute. AARP recently published an article by John Rosengren … Continued
Historically, investors have tended to plan and save for retirement with a specific age in mind, often 65. An age based strategy used to make sense as, in many cases, it was driven by the timing of pension benefits and the start of Medicare and full Social Security eligibility. Now that defined benefit pension plans … Continued
It is beginning to appear that life expectancy approaching 100 years may be a realistic premise. This raises some key questions, of which perhaps the most important is, “can you afford to live to 100?” We are all probably familiar with the quote, “if I’d known I was going to live this long, I would … Continued
It is hard to come to terms with one’s own mortality. In an ideal world, everyone would live to be 100 years old and die peacefully in their sleep. Unfortunately, life surprises us with many unpleasant things. At Sigma, we try to prepare our clients for the future. However, we are only as good as … Continued
It is probably difficult to overstate the importance of financial prudence and personal responsibility. We were well advised regarding the importance and practicality of not paying more than absolutely necessary in the book “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy”, by Thomas J. Stanley and William D. Danko. However, there are times … Continued
It’s not a news flash that saving money is hard, really hard. There is plenty of advice around with a wide variety of suggestions. Anything you do to cut back can help. However, the biggest opportunity may lie with your biggest, overall, long term expense, your residence. Some things to consider. How much home do … Continued
Retirement means many different things to everyone. It’s generally the goal for most people to do something they love with the last quarter of their life. It should be an exciting time, but when you hear that most Americans won’t be able to afford retirement, it can be worrisome. There are certain aspects that can’t … Continued
My colleague, Walter Kirchberger, does a lot of world travel and recently brought back with him not a tee shirt or other souvenir, but an article he had read on the ship titled, “The millionaires next door.” It was an Associated Press piece by Liz Weston. Many years ago, a book was written of the … Continued
Copyright © 2024 - Sigma Investment Counselors