MLR

Category: Wealth Advice / Estate Planning

As you may have heard in the news, components of the Department of Labor’s fiduciary rule finally went into effect on June 9th. You can add the date as the latest significant date to the running timeline for the Department of Labor’s fiduciary rule.

By Vanessa McElwrath, CFP®, ML&R Wealth Management

As you may have heard in the news, components of the Department of Labor’s fiduciary rule finally went into effect on June 9th. You can add the date as the latest significant date to the running timeline for the Department of Labor’s fiduciary rule, following:…

April 6, 2016 — The DOL announces that, effective April 10, 2017, financial advisors who provide retirement investment advice will be required to put investors’

Americans work hard to make a living and earn a dollar. However, many Americans have little or no money set aside for retirement. Savings must be part of our day-to-day ritual with money. It is important to set up a savings routine without getting overwhelmed. Here are some tips to make saving for retirement a little easier.

A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives.

There are quite a few different types of retirement plan options that cater to the particular needs of businesses of varying sizes- from the self-employed individual to large enterprises.  Three retirement plan options stand-out depending on what you want to accomplish with your plan and how much flexibility you need. These are: 401(k) plans, SEP IRAs, and SIMPLE IRAs.

As parents, we continually struggle to pass knowledge on to our children. Unfortunately, sometimes the financial knowledge we want to share is either left off the list or lost in translation. Whether your child is five or twenty-five, there are lessons you can teach around money to give them a strong financial start in the world.

Building a budget is a task most of us dread. In order to build up your savings, you need to be accountable for your spending. Family finances can be overwhelming, but the math is simple- to build savings to accomplish short and long term goals, we need to spend less than we make.

Each generation in America has their own unique struggles and challenges.  Baby Boomers came of age post World War II with parents that either survived the depression, the war or both.  This forever melded their financial outlook on life.  Generation X’ers are the sandwich generation balancing the world of entitlement for their Millennial children and taking on the care of their Baby Boomer parents as they slide into their golden years.  Millennials will have their own battles to fight and dragons to slay.  They will face a world of excessive college debt and difficulty finding jobs in their chosen fields.  Others will either incur high housing costs or deal with moving back home with parents.  How do they best approach and conquer this challenge in their lives?  Here are some tips Millennials should consider when planning out their financial future.

With Valentine’s Day around the corner, we think of all the fun and excitement we share with our spouse.  There are many rewards of being in a relationship, but along with the rewards come many responsibilities.  One of the most important of which is keeping our finances in order.  Money is definitely not a romantic topic, but a very important one for couples to navigate.

Determining the value of an estate is a fundamental first step in estate management and a critical requirement for settling a decedent’s estate.¹