Major cities such as Chicago offer a high density of financial advisor options. Here are 6 independent firms that are among the best catering to clients in the Windy City. For full disclosure, I did not put our firm CrossPoint Wealth on this list because we have higher minimums than these firms and are not based […]
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Why don’t more dentists set up plans or upgrade their current plan to take full advantage of larger tax deductions and accelerated retirement savings? The answer is misconceptions that include: 1. “Retirement plans are too expensive to set-up and administer.” 2. “They’re too complicated.” 3. “I have to make a contribution every year.” 4. “I have to provide […]
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How Permanent Life Insurance can act as a backstop for Retirement Needs Had a client who had saved money into a qualified plan for his retirement income needs. The client also had a need for more life insurance to give to his children additional financial protection. Ultimately a permanent life insurance policy was able to […]
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2021 HSA Contribution Limits The IRS just announced that health savings account (HSA) contribution limits will increase in 2020, giving you and your employees the chance to save more than ever. As a response to rising inflation, the contribution limits into savings vehicles like IRAs, 401(k)s, and HSAs can rise from year to year. A […]
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It’s been my experience that when I first meet with people they tell me that they have major concerns about their money. They were concerned with losing money. Worried about running out of money in retirement. And of course there are many other concerns investors have. And some people are in denial and say “I […]
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Strategies for “Retirement Transition Tax Planning” so, you don’t end up stuck in a higher tax bracket & the “Tax-Free Investment” Most people believe that when they retire, they will be paying less taxes in retirement. Without the proper planning ahead, you could potentially pay more than. You don’t want that to happen, do you? Taxes in retirement […]
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Bitcoin Supply and Demand Trends The price of Bitcoin broke $50,000 yesterday, February 16th, 2021, for the first time in history. The cryptocurrency was up 5% for the day and more than 74% for the year. After these morning gains, Bitcoin prices receded somewhat. New Bitcoins are created by powerful computers solving complex math puzzles […]
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Peter Lynch, one of the most successful investors of all me, said it best: “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” 1. Corrections Happen A “correction” is defined as a drop of 10% or more inthe value of an […]
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Corrections are normal, but FEAR usually takes over when the major averages, along with your portfolio, start to drop. If you’re approaching retirement or already retired there’s a lot more to be concerned about so avoiding major market downturns is more important than achieving gains. Please review the chart below as an important reminder how […]
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Larger Tax Deductions and Accelerated Retirement Savings A Primer on Profit-Sharing and Cash Balance Plans Many business owners and partners of firms are looking for larger tax deductions and accelerated retirement savings. Profit-Sharing and/or Cash Balance plans may be the perfect solution for them. What is a Cash Balance plan? A Cash Balance plan is […]
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