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Tax Prep Checklist: 8 Tips to Help You Prepare for the 2021 Tax Filing Deadline

How to Stay Up to Date and Do All You Can to Reduce Your Tax Bill
Monday, 14 March 2022

Tax Prep Checklist: 8 Tips to Help You Prepare for the 2021 Tax Filing Deadline

As we approach the April 18, 2022 tax filing deadline, remember that preparation is the key to maximizing your tax situation. It’s never too soon to start thinking about how to handle your federal return, and you can use this tax prep checklist to help you meet your obligations and take advantage of any savings opportunities.

8 Tips for Adjusting to the Retirement Lifestyle

If You’re Struggling with This New Chapter, You’re Not Alone
Wednesday, 09 March 2022

8 Tips for Adjusting to the Retirement Lifestyle

Most people spend decades of their working lives planning for and dreaming about how they want life to look in retirement. They plan where their income will come from, where they’re going to live, what trips they may be going on, who they’re going to spend their time with, and many more exciting details. Yet, despite all the diligent planning, many retirees find themselves shocked when they realize that adjusting to retirement is more difficult than they anticipated.

How to Spend in Retirement Without Worrying

Strategies to Help Ensure Financial Stability in Retirement
Friday, 25 February 2022

How to Spend in Retirement Without Worrying

Most retirement advice is focused on how to save smartly so that you’re financially secure when you leave the workforce. This is understandable considering you most likely want to live comfortably in retirement and doing so usually requires a sizable nest egg. However, as critical as those pre-retirement money moves are, it’s equally as important to think about your wealth management strategy once you retire. You want to be able to enjoy the fruits of your hard work without worries of running out of money – which is a common cause for anxiety among retirees. 

This conundrum ends up creating two unfortunate camps that retirees can find themselves stuck in if they aren’t careful. One camp is so afraid of running out of money that they barely spend anything and deny themselves a retirement that they deserve. Conversely, there is another camp of retirees who spend more than they should and put their financial security at serious risk. 

Your goal should be to find an even balance between these two extremes and the strategies below will help you to pursue your retirement dreams without putting your savings in jeopardy.  

Four Wealth-Building Habits to Start Today

Four Wealth-Building Habits to Start Today
Wednesday, 09 February 2022

Four Wealth-Building Habits to Start Today

Use these Strategies to More Effectively Grow Your Wealth Over Time

If you want to achieve financial independence and live the life of your dreams, you’ll need to adopt wealth-building habits that help you accomplish your goals. Like any habits, wealth-building habits must be regularly practiced until they become second nature in order to be effective. To do that, you must exercise patience and commitment.

The first step is to figure out what wealth means to you. Get clear on what your goals are and then start employing the habits below to bring them to fruition.

How to Set (and Achieve!) Your Financial Goals This Year

The Key to Tackling Your Goals Lies in a Clear Vision and a Strong Plan
Thursday, 20 January 2022

How to Set (and Achieve!) Your Financial Goals This Year

If there’s one thing most of us have in common, it’s the experience of saving money incrementally for something that seems out of reach. Whether you’re a teenager saving up for a car, a college student saving up for a degree, or an adult saving up for a down payment on your dream home, you’re probably intimately familiar with what it feels like to have to put money aside to achieve a financial goal. You probably also know how challenging it can be to stay disciplined and motivated to reach the savings threshold you desire.

In order to successfully save enough to finance your long-term dreams, it can help to set specific financial goals. What is it, exactly, that you want to achieve? How long will it take you? What are the particular steps you need to take in order to be successful? Questions like these can help ensure that you’re on the right track – and that you stay on it.  

When it comes to goal setting, the new year always provides the perfect opportunity to take stock of where you are, what you want, and how to go about getting it. In light of the new year, here are a few tips and guidelines to help you set and achieve your financial goals – no matter how big or small. 

10 Keys to Greater Financial Well-Being in the New Year

A Guide to Setting Financial Resolutions and Overcoming Money Stress
Wednesday, 05 January 2022

10 Keys to Greater Financial Well-Being in the New Year

If you’re among the 73% of Americans for whom money is a source of stress in their lives, you may be considering a financial resolution or two for the New Year. You might also be unsure where to start or feel overwhelmed by the idea of tackling something that feels immense. Luckily, you can take small steps to create big change in your financial well-being as we move into the new year. Below, I’ll share 10 keys to greater financial health that you can use as a guide as you set your financial resolutions for the year ahead.

Three Reasons to Delay Taking Your Social Security Benefits

Holding Off on Your Benefits May Pay Off in the Long-Term
Monday, 20 December 2021

Three Reasons to Delay Taking Your Social Security Benefits

If you’re like most retirees, you may be planning to claim your Social Security benefits around the age of 62. Or, perhaps, you plan to hold off a bit longer until you’ve finally hit full retirement age, which is typically between the ages of 66 and 67. However, have you considered waiting even longer – until age 70 – to begin collecting Social Security?

The truth is, there are quite a few benefits that could come from being patient. Here are three main reasons why it may pay in the long run to delay taking your Social Security benefits until age 70.

Do Your Adult Children Need a Financial Advisor?

These Four Scenarios Signal it’s Time to Hire a Professional
Monday, 08 November 2021

Do Your Adult Children Need a Financial Advisor?

If you’re among the many people who wish they had begun taking financial planning seriously a bit earlier in life, you’re definitely not alone. It’s a common refrain we hear from clients and, while you can’t go back in time, you can encourage your adult children to avoid the mistakes you made.

Now, if your children are in their 20s, or are older but not earning much yet, there’s probably not much need for a financial advisor. However, life changes and careers evolve, and there will come a time when professional financial advice is both appropriate and needed. Below, we’ll discuss four triggering scenarios in your adult children’s lives that may make it the right time to seek out the services of a financial advisor in order to create a proper plan for the years ahead.

Freshen Up Your Money Habits for Long-Term Success

Seven Steps to Get Your Finances in Order for Retirement
Wednesday, 27 October 2021

Freshen Up Your Money Habits for Long-Term Success

Any time the season changes it brings with it a great opportunity to re-assess your current reality and revisit your plans for the future and long-term goals. For most people, envisioning a dream retirement is fairly easy – it’s not hard to picture yourself somewhere tropical with your toes in the sand, or hiding away in a cabin somewhere with your nose stuck in a book. Or perhaps your dream retirement is full of images of you baking with your grandchildren, surrounded by family. Whatever your dream retirement may look like, visualizing your future life isn’t the same as preparing your finances to make that dream a reality.

As we settle into fall, now is a great time to reconnect with your financial goals, get intentional with your investment strategy, and freshen up your money habits. If you’re looking to tighten up your finances, try using these seven steps below to get yourself back on track.

Planned Upcoming Tax Changes for 2021

The 2021 Tax Year is Bringing Some Surprises with It, but Here’s What We Do Know
Wednesday, 13 October 2021

Planned Upcoming Tax Changes for 2021

Financial planning provides a plethora of benefits; however, it also comes with many challenges considering it’s impossible to completely prepare for an unpredictable future. Despite the impossibility of being able to fully prepare for what the future holds, a smart financial plan can still provide you with the flexibility and strong financial foundation you need to respond to whatever the future brings.

Recently, there has been a lot of discussion about the tax plan put forth by Democrats and the corresponding changes it may bring. While there is still a lot that is unknown, some of the upcoming tax changes are certain and can begin being planned for. Below is a summary of some of the items that will change in the 2021 tax season.

Preparing Your Finances for Divorce

How to Avoid Costly Money Missteps When Your Marriage Ends
Wednesday, 06 October 2021

Preparing Your Finances for Divorce

Most of us don’t plan for divorce. Yet it’s still heavily prevalent and, when it happens, nearly every aspect of life changes – seemingly overnight. Divorce can be mentally, emotionally, and financially draining. It is also fraught with decisions that must be addressed so that, when the dust settles, you find yourself standing on solid financial ground.

Divorce nearly always impacts your money, as it completely undermines most of the financial planning and wealth-building that a couple accomplished during the marriage. Untangling two people’s money is a messy and emotionally challenging process. That’s why you’ll want to prepare your finances long before spousal or child support is awarded, or your post-divorce budget is in place.

Since each relationship is unique, so is each divorce, and this means specific planning advice can only come from experts who are familiar with your situation. Despite that, there are some overarching tips that can guide you on the right path, no matter what you’re dealing with.

Financial Literacy: How to Teach Kids About Investing

Five Fun Strategies to Empower Your Kids’ Financial Futures
Wednesday, 08 September 2021

Financial Literacy: How to Teach Kids About Investing

Now more than ever, we’re living in a world where it is important to have a firm grasp on money management and personal finance. When it comes to investing, there is truly no substitute for education and experience. And, when it comes to meeting savings and retirement goals, there is no substitute for smart investing. This is why it is so important to educate your children and grandchildren about personal finance while they’re young.

The daily hustle and bustle of life can make it hard to find the time to sit down and begin having conversations with your children about finance. However, by teaching basic principles like saving, interest, and risk and reward in your daily activities with kids, you can instill in them the financial literacy they’ll need to succeed financially as adults.

Five Financial Habits for a Comfortable Retirement

Feeling Secure in Retirement Requires Deliberate Planning and Strong Financial Habits
Monday, 23 August 2021

Five Financial Habits for a Comfortable Retirement

It’s not an overstatement to say that all retirees want to enjoy a comfortable and financially secure retirement. In order to save enough money to be able to make this a reality, most people begin saving at a young age and do so consistently throughout their working lives. However, practicing consistent healthy money habits is a challenge for many people.

If you’ve struggled with saving for retirement and fear you might be behind, there are things you can do to get yourself back on track. It will require you to get proactive and intentional with your savings and your financial habits moving forward. Though it may seem daunting, it’s not impossible. These five financial habits can help you catch up to your retirement savings goals and get you on the right track for a comfortable and financially secure retirement.

Four Tips for Transitioning into Retirement Successfully

The secret to making the switch lies in planning ahead
Wednesday, 07 July 2021

Four Tips for Transitioning into Retirement Successfully

Our natural inclination is to view retirement as a happy and stress-free phase of life – and it absolutely can be. However, when you’re transitioning into retirement it can feel disorienting and nerve-wracking. Making the shift from the working and saving phase of your life to the life of a retiree tends to be a rollercoaster of emotions, and this life pivot can be taxing for even those who are the most prepared.

Five Life Transitions Where a Financial Advisor is Helpful

Having someone you trust can help you make better decisions during unexpected times.
Wednesday, 09 June 2021

Five Life Transitions Where a Financial Advisor is Helpful

No matter your phase in life, the financial decisions that you make now are likely to impact your future. Navigating complex matters such as tax planning, establishing an estate plan, figuring out the right investment strategy, purchasing life insurance, planning for long-term care, or preparing for retirement can be incredibly overwhelming.

For certain financial matters, having a financial advisor at your side can help ensure that you’re making the right choice for your personal situation. The following scenarios are ones in which the help of an expert could significantly improve your financial and personal future.

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Advisory Services are offered through TriCapital Wealth Management, Inc Securities offered through Triad Advisors member FINRA / SIPC. TriCapital Wealth Management, Inc. is not affiliated with Triad Advisors. We are licensed to sell Insurance Products in the following states: North Carolina, and South Carolina. We are registered to sell Securities in the following states: Delaware, District of Columbia, Florida, Georgia, North Carolina, Ohio, Pennsylvania, South Carolina, and Virginia.

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