Take a look at the changes that could affect your return. Avoid those unwanted surprises at tax time.Posts by Amanda McFarlane
How to Protect Yourself From Financial Fraud and Scams
The Internet has changed almost everything about how we do business, bank, pay bills, and shop. It has also opened a whole world of possibilities for hackers and scammers to take advantage of people and steal identities and money. According to Experian, about one in 20 Americans is the victim of identity theft/fraud each year…
Read More17 Money Mistakes Doctors (and Other High Earners) Make
Financial missteps from high-earning individuals, like doctors, can be especially costly. Do you struggle to manage your finances or want to improve your money habits? Or are you looking for additional ways to maximize your income and retirement savings? Here are 17 money mistakes doctors and other high earners can make and how to avoid…
Read More10 Reasons Physicians Need a Financial Team
Physicians have complicated financial needs when you consider student loans, cash flow to meet life goals like owning a home and having children, paying taxes, negotiating employment contracts, obtaining the appropriate insurance, saving for retirement, building wealth, and buying into or operating a practice. Physicians are also well-educated but also incredibly busy and may wish…
Read MoreThe 4% Withdrawal Rule in Retirement: Is It a Bad Idea?
One of retirees’ greatest fears is running out of money.1,2 Some of the key questions as you prepare for retirement are, how much money will I need to retire? Will my money last through my lifetime? How much can I safely withdraw every year so that I don’t run out of money? Many financial professionals…
Read MoreRequired Minimum Distribution: What It Is and How to Calculate It
Required minimum distributions are important to your overall income strategy in retirement, but the rules can be complex, especially if you have multiple retirement accounts. Read on for more about what a required minimum distribution is, how to calculate it, and special exceptions for taking an RMD. What Is a Required Minimum Distribution? Put simply,…
Read MoreDiversification: What It Is and Why It Matters to Your Portfolio—and Financial Future
The stock market and investing, in general, can come with high highs and stomach-churning lows. Knowing where to invest your money and how much to invest is a complicated interplay of many factors—investing most or all of your money in one security or stock means you’re fully exposed to the risks associated with that company.…
Read MoreHow to Improve Your Credit Score
Your credit score has a significant impact on your ability to meet your financial and other life goals. A good credit score makes life a little easier and more affordable—you’re more likely to get approved for loans with lower interest rates, meaning lower payments and more money in your pocket. Obviously, having a high credit…
Read MoreHow to Avoid Emotional Investing
Money is personal—there’s no denying that. You’ve worked hard for it, and it touches nearly every aspect of your life. In the same vein, emotions are ever-present in our lives and affect almost every decision, reaction, and situation we encounter. Market changes, volatility, and chasing gains can cause disappointment, frustration, and panic at the lows…
Read MoreWhat Is a Credit Score and Why Is It Important to Your Financial Future
Your credit score has a significant impact on many aspects of your life—your ability to obtain a credit card, mortgage, or other loans, loan interest rates and terms, and sometimes whether you can rent an apartment or how much you’ll pay for a deposit on your lease or other utilities or services. Understanding how credit…
Read MoreReverse Mortgages: What They Are and If They’re Right for You
Millions of Americans are entering retirement encumbered with mortgages. The proportion of homeowners aged 65+ who still carry a mortgage doubled over the last 30 years—from 21% in 1989 to 42% in 2019. The median loan balance increased to $86,000 in 2019 from $18,000 in 1989. Lastly, and maybe more concerning, over a quarter of…
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