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Retirement seems like a long way off, but it arrives faster than you think. The big question is, are you ready? What exactly does retirement entail? Analysts suggest there are four designated phases of retirement that a person often...

You may sometimes hear the terms "estate planning" and "asset protection" used interchangeably. They actually have different meanings, and it's important to incorporate both strategies into future financial plans. Below, we discuss key...

Growing old is simply one thing you can’t avoid. The goal is to enjoy your retirement years as you imagined after a lifetime of working. One aspect of growing old that young people may overlook is long-term care insurance and how...

Now is an excellent time to start evaluating your current financial situation, determining your future goals and expectations, and working toward pursuing them. If you need help pulling together a plan for your finances, a financial...

When it comes to repaying your student loans, one size does not necessarily fit all. The key to a manageable repayment plan is to find a strategy that works well for your goals, budget, and lifestyle. Here is some questions to help you...

Medicare policies are the health insurance benefits you have worked toward throughout your life, and having the proper policy is critical as you are likely to face more health problems as you age. While these policies can provide you...

Nearly 1 in 3 Americans report that they aren't prepared for a recession — despite the near-constant drumbeat of recession talk from media and economic experts alike.1 This lack of preparation may be the result of "recession...

Do you consider yourself a high-net-worth individual (HNWI)? Most people tend not to categorize themselves or see themselves as anything more than a spouse, parent, sibling, neighbor, boss, or business owner. However, society does...

Even if you are already retired, it doesn't mean you should stop trying to grow your savings. Inflation, unexpected medical bills, and changes to your lifestyle or family may result in the need for additional income than you initially...

During vacation, the only things you should be focused on are how late you can sleep in, which brunch place has the fluffiest French toast, or how many European cities you can explore in a week. This is why you should formulate a plan...

Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy...

Interest is one of the simplest and most appealing ways to gain profits from an investment. Like clockwork, you receive an interest payment on your principal, or the amount of money you deposit when you open an account. Unlike more...

The importance of retirement savings has been gaining traction among younger workers, with Generation Z and Millennials taking a proactive approach to secure their financial futures.According to new research from Vanguard, younger...

Many people care for a loved one out of necessity as their family members can no longer care for themselves. More than one in ten people in the United States also care for an adult, spending about three hours each day on caregiving...

LPL Research Midyear Outlook 2023: The Path Toward Stability delivers market insights on what we can expect in the economy, policy, stocks, and bonds for 2023.

Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical...

Financial freedom is a state of being in control of one's finances, covering expenses easily, and saving for future goals. Financial freedom enables you to choose how you spend or interact with your money and have the choice to decide...

Right now is a great time to assess your insurance coverage. Insurance is a means of protecting your assets against premature liquidation. When a loss occurs, the assets you've worked hard to attain face liquidation if your insurance...

For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...

When your local weather forecaster tells you that it's going to rain, what do you do? That's easy--you reach for your umbrella. So why not purchase an umbrella that can protect you in stormy financial weather? Umbrella liability...

Having enough retirement income is a top concern for many Americans nearing or in retirement. Even though they may have saved consistently throughout the working years, they may be concerned that their retirement plans will succeed.

Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them...

529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary's qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to...

Life insurance has many uses, including income replacement, business continuation, and estate preservation. Long-term care insurance helps provide financial protection against the potentially high cost of long-term care.

Whether you are an employee in corporate America or a small business owner, retirement is a part of life. For many, the thought of retiring and whether or not you are ready to take those first steps might be overwhelming or intimidating.

Financial literacy is crucial, not only for adults but for everyone in the family. When you have a good foundation of financial literacy, you will have a greater understanding of money and prepare yourself for a brighter financial future.

Money worries may be one of the biggest sources of stress—from wondering how to pay for an unexpected expense to making retirement calculations when considering leaving a job. In the midst of inflation, war, and stock market volatility...

Getting ready for retirement involves more than just calculating how much you will need and the rate you can draw down your savings. The years before you retire is a crucial time to prepare both financially and psychologically.

Planning for retirement is exciting, but it may come with a bit of stress. If you worked hard all your life, now might be the time to relax and enjoy the fruits of your labor. One of the things that you may need to consider is when it is..

Before you rush out the door to file your tax return, are you certain you have everything in order to make it go as smoothly as possible? Check these five last-minute details before Tax Day.

Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged accounts, it

The events of the past few days have many people asking questions about the health of the financial services companies they entrust with their money and investments.

Examining your retirement savings and having a comprehensive financial plan are the first steps toward knowing if you should work during your retirement.

Are health insurance premiums taking too big of a bite out of your budget? Do you wish you had better control over how you spend your health-care dollars? If so, you may be interested in an alternative to traditional health insurance...

Looking for ways to save "I love you" on Valentine's Day? Then you may want to consider opening a spousal individual retirement account (IRA). This gift says, "Let's grow old together comfortably," and shows your partner that you care...

It’s easy to carry the stress of home to work, and work to home. Doing so will most likely inhibit your time to relax with friends, family, and your productivity in the work place. Budget your time accordingly for each aspect of...

When you think of identity theft, you may think of unauthorized credit card payments or new lines of credit. However, tax identity theft is one of the most common types of identity theft. protecting your tax identity doesn't have to be diff

Getting married is a joyous time. One thing that may drastically change after your marriage is your tax status. Single filers crossing over to a new tax status may be unsure of where to start and which options will provide them with the gre

When you lose money on certain investments, you can typically claim the loss against other investments, and in some cases, you may even be able to claim all or a portion of the loss against regular income. Called tax-loss harvesting, this s

As an investor, you may be impacted by capital gains if you sell your investment – whether at a gain or loss. Understanding capital gains may help with your overall investment strategy and the potential to preserve your wealth.

Do you want to get on top of your finances this year? Are you looking for ways to improve your fiscal health? Here are 12 financial resolutions to consider.

If one of your New Year's resolutions involves enhancing and expanding your investment portfolio, look no further. In a true New Year's Eve countdown tradition, ask yourself these 10 questions to help review your investment plans.

Tax exemptions for gifts and estates are limited, but they're adjusted periodically to keep up with inflation. People can use these exclusions to preserve their wealth and to pass it on to their heirs with the least amount of tax burden

Series I bonds are a popular savings investment that can also help you save on taxes…but the federal income tax consequences can be complex. If you're dealing in these savings bonds, the information in this article will hopefully help you.

LPL Research Outlook 2023: Finding Balance

Kevin M. Wells, CFP® CPWA®

Friday, December 9, 2022

LPL Research’s Outlook 2023: Finding Balance is our guide to how the readjustments in the economy and markets may impact you in the coming year.

While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS.

Improving return by minimizing taxesAlthough we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...

A list of things to consider as you think about year-end charitable donations. With its family traditions and festive celebrations, the holiday season is the most wonderful time of the year. And according to GivingTuesday.org, the...

Black Friday and Cyber Monday are two of the greatest days to score deals for holiday shopping. Unfortunately, with amazing deals plentiful, some scammers use these days to take advantage of shoppers looking for the greatest bargains...

If you're like many, you may associate long-term care with nursing homes and end-of-life care. But far more people will need long-term care in a crisis—an injury or illness that requires long-term care or rehab before you can...

When you lose money on certain investments, you can typically claim the loss against other investments, and in some cases, you may even be able to claim all or a portion of the loss against regular income. Called tax-loss harvesting,...

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:...

The cost of long-term care can vary widely based on location (both city and state) and level of care needed. However, one thing is for certain: with 7 in every 10 people requiring long-term care at some point, preparing for this...

Some may fastidiously plan the path they want their assets to take but not give their beneficiary information the attention it needs and deserves. Designating the appropriate beneficiaries is essential for proper asset planning....

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by...

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached.

With the average price for private college tuition and fees hitting $43,750 for the 2021-2022 school year and public college attendees paying more than $28,000 per year, many parents are nervously anticipating what will happen after...

A recent survey by Caring.com found that a whopping two in three American adults do not have an estate plan1—an alarming statistic, considering that an estate plan can protect your assets and ensure that they go to the right...

As you near age 65, you may start to think about Medicare. How do you sort through your coverage options? When (and how) do you enroll? And what if you have other health insurance? Here is some information to help you when it's time to...

A 401(k) in-plan Roth conversion (also called an "in-plan Roth rollover") allows you to transfer the non-Roth portion of your 401(k) account into a designated Roth account within the same plan. The amount you convert is subject to...

Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment...

More women are working and taking charge of their own retirement planning than ever before. What does retirement mean to you? Do you dream of traveling? Pursuing a hobby? Volunteering your time, or starting a new career or business?...

You may have envisioned retirement as a second childhood—a time to relax, enjoy yourself, and devote your time to your favorite hobbies. Unfortunately, worry-free retirement is not the reality for some. Challenges from stock...

The purchase limitations and the lock-up periods need to be evaluatedI bonds are U.S. savings bonds designed to protect the value of your cash from inflation. And with inflation surging to 40-year highs, investors are especially...

In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride...

Investing for your retirement isn't about getting rich quick. More often, it's about having a game plan that you can live with over a long time. You wouldn't expect to be able to play the piano without learning the basics and...

Today, many individuals are finding it necessary to help elderly parents or relatives manage their personal finances. One area of particular concern is property management. This issue may arise when seniors reach their late seventies...

Adults caring for aging parents and children simultaneously have now become known as the "sandwich generation." While each generation comes with its own array of financial challenges, the sandwich generation often feels a tight...

Midyear Outlook 2022: Navigating Turbulence

Kevin M. Wells, CFP® CPWA®

Wednesday, July 13, 2022

LPL Research’s Midyear Outlook 2022: Navigating Turbulence is designed to help you assess conditions over the second half of the year, alert you to the challenges that may still lie ahead, and help you find the smoothest path for making con

When it comes to investing, having fewer investments might help streamline your portfolio to manage stress better. Here are some benefits of a simple portfolio and some ways to help you create one.The Benefits of SimplicityUnless you...

Working towards financial independence can often be a lifelong process. But for many, financial freedom may come far sooner—and include some fun along the way. What are the differences between financial independence and financial...

With a volatile stock market, the Fed Funds rate near zero, and inflation the highest since 1982, some may seek an investment that can protect their purchasing power and limit their market exposure. A-Series I Bonds are appropriately...

Vacations are all about relaxing and breaking away from your everyday routine, but the preparations leading up to your trip shouldn’t cause more stress than it’s worth. Prepare without pandemonium by following this...

Even though housing prices throughout much of the U.S. are at or near all-time highs, there are still many distinct financial advantages to owning a home.1 From tax benefits to capital gains exclusions and guaranteed rates of return,...

Whether you are expecting your first child or have been a parent for years, finances and building a future for your family go hand-in-hand. Luckily, there are money moves you can make now to help manage financial stress, support...

A qualified charitable distribution, or QCD, allows you to distribute funds from your IRA to an eligible charity (a 501(c)(3) organization) as long as you’re 70 1/2 years of age or older. Since the gift will go directly to the...

With the holidays here, now is the time to get into the giving spirit and help to change others' lives for the better. Whether you are looking to make a difference in a specific person's life or the life of many, there are many ways to...

“Life After Death” For the owner of an interest in a small- to medium-sized business, such as a proprietorship, partnership, or corporation, the problem of an untimely death cannot be underscored too markedly. In the first...

It’s hard to believe we are already approaching the end of another year, and holiday season will soon be here. Since holiday spending doesn’t include just gifting, it’s essential to set your budget now. You may likely...

Spend as much time fixing your mistakes as you do planning the holidays You probably spend more time planning your holiday gathering than preparing for your golden years. As a result, you make basic mistakes in trying to fund your...

Being Thankful for Financial Wellness

Kevin M. Wells, CFP®

Wednesday, November 24, 2021

‘Tis the season to give thanks for the many blessings that you have received throughout the year and blessings that help you as you move into the future. One thing to be truly thankful for is financial wellness. When you are...

Solo Opportunities: One-Person 401(k)s

Kevin M. Wells, CFP®

Tuesday, November 16, 2021

An entrepreneur may be eager to take advantage of every available business opportunity. However, in order to prepare for retirement, the entrepreneur might be searching for potential options that suit their unique situation. Many small...

What Veterans Should Know About Retirement Planning

Kevin M. Wells, CFP®

Wednesday, November 10, 2021

Veterans' retirement benefits are among some of the most generous out there, in large part due to the risks and sacrifices that come from military service. But navigating this array of benefits may seem complicated. What should...

A Financial Review Can Pay Off at Year End

Kevin M. Wells, CFP®

Tuesday, November 2, 2021

Today, many people find themselves bombarded by a constant stream of financial news from television, radio, and the Internet. Yet, does all this “information age” data really help you manage your finances any better now...

Protecting Your Financial Information Online

Kevin M. Wells, CFP®

Wednesday, October 27, 2021

More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet,...

Annuities and Market Risk: What You Need to Know

Kevin M. Wells, CFP®

Wednesday, October 20, 2021

Market risk is something all investors may worry about, but those close to retirement have limited time to recover from market loss. If you are within ten years of retirement, now is a critical time for your portfolio to continue to...

Money Saving Tips Everyone Should Know

Kevin M. Wells, CFP®

Tuesday, October 12, 2021

We’ve all heard this advice before: if you want to save money, you need to cut back on spending. However, it’s not always so easy. Identifying senseless spending in the following areas can help you save more each month. But...

Financial Planning at Every Age

Kevin M. Wells, CFP®

Wednesday, October 6, 2021

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.1 A 2021 survey of 1,000 Americans found that 80% now say they have a budget.2 Americans are budgeting more due to the pandemic....

Why Invest?

Kevin M. Wells, CFP®

Wednesday, September 29, 2021

To accumulate wealth, people may choose to invest their money into various types of investments. Investing creates opportunities that otherwise would be difficult to manage due to the consistency of contributing to the investment....

Top Supports for Caregivers

Kevin M. Wells, CFP®

Sunday, September 19, 2021

When caring for a spouse, relative, or parent, you may face a number of challenges and decisions to make in order to provide quality care. However, you are not alone. The following resources are available to support you to meet the...

Four Ways to Improve Your Financial Literacy

Kevin M. Wells, CFP®

Wednesday, September 15, 2021

Personal finance is an important area of knowledge—but it's not always taught in schools. It may be tough to master when you haven't had much guidance prior to adulthood. You may be able to improve your financial literacy and...

Choosing the Right 401(k) for Your Employees & Your Business

Kevin M. Wells, CFP®

Friday, September 10, 2021

Implementing a 401(k) plan for your employees is good business. It means you're thinking strategically, that you care for your employees, and are focused on the long-term health of your company. Implementing a retirement plan: Can help...

Some Key Uses of Life Insurance

Kevin M. Wells, CFP®

Wednesday, September 1, 2021

Have you ever thought about the important role life insurance can play in helping you manage a variety of important financial objectives? Let’s look at some “slice of life” hypothetical examples and you’ll see...

WORKING WITH A FINANCIAL PROFESSIONAL

Kevin M. Wells, CFP®

Wednesday, August 25, 2021

The financial world is a complex one to navigate. New investment products, global investing opportunities, employee-driven 401(k)s — these (and many more) collectively underscore the value of seeking professional financial advice...

Think Your New House is a Fantastic Investment?

Kevin M. Wells, CFP®

Wednesday, August 18, 2021

Despite continued low mortgage rates and tales of bidding wars, multiple offers and all-cash closings above asking-price, would-be-home-purchasers should consider being cautious about putting too much money into real estate. While some...

Summer of 2021, the Fed, Interest Rates & Me

Kevin M. Wells, CFP®

Wednesday, August 11, 2021

A few days before the official start of summer on June 21st, Wall Street’s eyes and ears were on the Federal Reserve, and as expected, the Federal Open Market Committee (FOMC) made no changes to the fed funds rate or the pace of...

Appetite for Risk

Kevin M. Wells, CFP®

Wednesday, August 4, 2021

Many prospective investors eventually shy away from a commitment when they hear the dreaded “R” word: risk. By itself, risk is innocuous, carrying no special meaning or predictive result. But the idea that investing...

Midyear Outlook 2021: Picking Up Speed

Kevin M. Wells, CFP®

Tuesday, July 13, 2021

LPL Research Midyear Outlook 2021: Picking Up Speed is designed to help you navigate the risks and opportunities over the rest of 2021 and beyond. While the speed can be exhilarating as economic growth accelerates, it can also be...

Life Insurance at Various Life Stages

Kevin M. Wells, CFP®

Monday, June 28, 2021

Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your responsibilities...

Your Retirement Portfolio: Five Things to Consider Before Market Turbulence

Kevin M. Wells, CFP®

Wednesday, June 23, 2021

It is human nature to seek advice when things aren't going well or when an unforeseen event occurs. Often, people seek financial advice from a professional only when the stock market and their investments are experiencing turbulent...

Why the inflation rate doesn’t tell the whole story

Kevin M. Wells, CFP®

Sunday, June 20, 2021

Markets, economists and policymakers have been fretting about inflation for months, worried that the trillions of dollars being spent in recent and future government stimulus programs could overheat the economy and send prices soaring...

Healthcare and the Sandwich Generation

Kevin M. Wells, CFP®

Sunday, June 20, 2021

Members of the "Sandwich Generation"—or adults who have at least one parent over age 65 and at least one child who still requires financial support—often find themselves torn between their dual caregiving responsibilities.1...

The Sandwich Generation: A growing U.S. Concern

Kevin M. Wells, CFP®

Sunday, June 20, 2021

As the U.S. population continues to age, the “sandwich generation” is caught in the middle, supporting both their parents and their children, whether financially, physically, or emotionally. This generation is the...

The Different Stages of Financial Freedom

Kevin M. Wells, CFP®

Sunday, June 20, 2021

If you're living paycheck-to-paycheck or stuck in a job you don't love just to pay the bills, it can be easy to feel as though you're financially trapped. But financial freedom doesn't need to be elusive—with some focused and...

Are Early Retirement and Pension Buyout Offers a Good Deal for You?

Kevin M. Wells, CFP®

Wednesday, June 16, 2021

In today’s economy, offers of an early retirement buyout for a current employee or a pension buyout directed at a former employee are becoming common as companies look for ways to cut costs. Many large employers are offering...

Financial Considerations During A Divorce

Kevin M. Wells, CFP®

Wednesday, June 9, 2021

No matter whether your divorce is amicable or contentious, it can have a profound impact on your finances. There are myriad rules and regulations to consider; we outline some of the most significant and how they could impact your...

What Should Grandparents Know About 529 Savings Accounts?

Kevin M. Wells, CFP®

Saturday, May 29, 2021

Grandparents can often find themselves in a better financial position to save for their grandchildren's education than their own children are. The parents of prospective students may still be contending with competing priorities like...

When's the Right Time to Retire?

Kevin M. Wells, CFP®

Tuesday, May 25, 2021

Retirement is inevitable, but knowing exactly when to do so is often unclear. No matter when you actually begin your retirement, you’ll benefit from planning your post-work life as early as possible. According to Gallup, the...

Business Contingency Planning for Small Business Owners

Kevin M. Wells, CFP®

Tuesday, May 18, 2021

There comes a point in time when almost every small business owner contemplates the future of his or her business. Because “the business” typically is a substantial asset, an owner must address a number of estate planning...

10 Tips for Small Business Owners

Kevin M. Wells, CFP®

Wednesday, May 12, 2021

Small business owners should conduct an annual assessment of their personal finances. Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their enterprise....

5 Investment Considerations for Small Business Owners

Kevin M. Wells, CFP®

Wednesday, May 5, 2021

If you're a small business owner, many of the best practices employed by individual investors are also available to you (of course!), but you also have some additional options and factors to weigh while creating your investment plans....

How COVID-19 Has Boosted Sustainable Investing

Kevin M. Wells, CFP®

Tuesday, April 27, 2021

The COVID-19 pandemic has rocked markets and reshaped the way we interact with each other. But one unexpected side effect of this pandemic has been investors' acceleration into the entry of environmental, social, and governance (ESG)...

Retirement Planning: To Roth or Not to Roth?

Kevin M. Wells, CFP®

Tuesday, April 13, 2021

When saving for retirement, it often makes sense to contribute to employer-sponsored retirement plans to take advantage of any available employer match opportunities. However, not everyone has access to an employer-sponsored plan. Even...

Three Key Components of Financial Literacy

Kevin M. Wells, CFP®

Friday, April 9, 2021

Financial feats that were once unheard of—from investing in cryptocurrency to instantly paying someone through an online payment system—have now become commonplace in many parts of the country. But these sophisticated tasks...

5 Ways to Build A Better Tax Plan

Kevin M. Wells, CFP®

Wednesday, March 31, 2021

You just finished your taxes, but it's not too early to make plans for next year. It's important that as you build your plan, you think about some strategies to reduce or defer your taxes now or in the future. Here are some strategies...

Tips for Navigating a Volatile Retirement

Kevin M. Wells, CFP®

Wednesday, March 24, 2021

Retirement is the time in your life when you want to sit back, relax, and enjoy the fruits of years of hard work. But unfortunately, when the market is volatile, it may bring additional anxiety and stress. The good news is, a volatile...

Re-thinking Your Bucket List

Kevin M. Wells, CFP®

Friday, March 19, 2021

When approaching the latter part of life, it is easy to get caught up in achieving every goal on your bucket list. Individual lists vary widely, but often are filled with wild adventures like skydiving and scuba diving in the Great...

How Financial Asset Management May Help Investors Stay the Course

Kevin M. Wells, CFP®

Friday, March 12, 2021

Most people who decide to purchase stocks, bonds, mutual funds, or other investment vehicles do so understanding that there are risks associated with investing, but believing that the potential growth they may realize over time...

Understanding the Earned Income Tax Credit

Kevin M. Wells, CFP®

Wednesday, March 3, 2021

The Earned Income Tax Credit (EITC) is a federal tax credit that can provide great benefit to families. According to the IRS, in 2019 alone, approximately 25 million workers and families received over $60 billion in EITC payments, with...

7 Tips for Time Management

Kevin M. Wells, CFP®

Tuesday, February 23, 2021

When you’re busy juggling career, family, social life, and multiple other obligations, you may end up feeling as if you don’t have enough time to do it all. Often, the solution lies in improving how you manage your time. To...

Managing Caregivers Stress

Kevin M. Wells, CFP®

Friday, February 19, 2021

With more and more seniors aging in place, the rise in caregivers who are not health professionals has begun to increase as well. Informal caregivers may find that their work is rewarding, since they ensure that their loved one is...

Do you have an Estate Plan?

Kevin M. Wells, CFP®

Wednesday, February 3, 2021

Talking about the end of life or possible tragic events is not something people naturally want to do, but it is important. To have your wishes honored and to create a plan to make the transition easier for those left, these plans need...

Common Retirement Investment Mistakes

Kevin M. Wells, CFP®

Wednesday, February 3, 2021

Only one-in-four Americans (27%) feel very confident that they will have enough money to live comfortably when they retire, according to the 2020 Retirement Confidence Survey Summary Report.⁠11 While the number is up slightly from the...

Retirement Plans and Estate Planning

Kevin M. Wells, CFP®

Friday, January 29, 2021

When you die, what will happen to your retirement plan benefits? In general, your retirement plan benefits pass to the beneficiaries you designate on the plan beneficiary designation form. Your benefits will generally be subject to...

3 High-Net Retirement Savings Mistakes You Want to Avoid

Kevin M. Wells, CFP®

Thursday, January 21, 2021

When it comes to retirement savings, the goal is quite simple for most. To accumulate as much wealth as possible so that they are able to retire in comfort and style, while they enjoy the fruits of years of labor. For those with a...

The Importance of Financial Wellness

Kevin M. Wells, CFP®

Tuesday, January 12, 2021

Financial wellness, like physical wellness, isn’t something you should ignore. Instead, it's a critical concept for anyone who wants to be knowledgeable and confident about their finances, and in fact, financial wellness is so...

Should You View Your House as an Investment?

Kevin M. Wells, CFP®

Thursday, January 7, 2021

The National Association of Realtors recently announced that first-time home buyers accounted for 33% of home sales in August, which is up from 31% a year before. And you can bet that many of those first-time home buyers were told that...

End of Year (EOY) Deadlines Checklist

Kevin M. Wells, CFP®

Thursday, December 17, 2020

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything,...

Outlook 2021: Powering Forward

Kevin M. Wells, CFP®

Tuesday, December 8, 2020

More than most years, it’s hard to look ahead to the next year, to 2021, without looking back at 2020. A global pandemic, a massive economic collapse, a bear market, a surprisingly sharp reversal, a hotly contested election where...

How to Structure Charitable Giving Throughout Your Lifetime

Kevin M. Wells, CFP®

Thursday, December 3, 2020

Charitable giving is a way for affluent individuals spread their money around and to benefit causes that are near and dear to their hearts. Yet, for those who fall into the high net worth category, it is critical to structure...

What to Know About Working With a Financial Professional

Kevin M. Wells, CFP®

Wednesday, November 25, 2020

If you've been wondering how to optimize your finances and ensure your money continues to work for you, a financial professional may be able to help. But the thought of turning over your most sensitive financial information to a...

5 Types of Retirement Plans for Small Business Owners

Kevin M. Wells, CFP®

Wednesday, November 18, 2020

Small business owners are different from the average hourly employee in a lot of ways. One often-overlooked difference is how they plan for retirement. Although small business owners may offer a classic 401(k) for their workers along...

End of Year Planning: Set Goals and Reduce Taxes

Kevin M. Wells, CFP®

Friday, November 13, 2020

By the last third of the calendar year, you're likely to have a pretty good idea of what your annual income will be and whether any major expenses or big life changes await you. This can allow you to engage in more robust tax planning,...

Ready to Retire? How to Know for Sure

Kevin M. Wells, CFP®

Wednesday, November 4, 2020

Retirement is an exciting time for many, and the reward for years of hard work. While there is no set age for retirement, it is important to be prepared before you make the leap, so that you enjoy your retirement and financial...

12 Estate Planning Must-Dos

Kevin M. Wells, CFP®

Wednesday, October 28, 2020

Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review. 1. Do you have a will and powers of attorney...

What to Know About Working With a Financial Professional

Kevin M. Wells, CFP®

Wednesday, October 21, 2020

If you've been wondering how to optimize your finances and ensure your money continues to work for you, a financial professional may be able to help. But the thought of turning over your most sensitive financial information to a...

Investing in an Election Year

Kevin M. Wells, CFP®

Wednesday, October 14, 2020

The world's events always affect the markets, and making smart investment choices requires you to look at what's happening around the world. But what about during an election year? How should you invest while the country is deciding...

Revisit Your Investment Strategy at Each Age Milestone

Kevin M. Wells, CFP®

Wednesday, October 7, 2020

As the saying goes, "50 is the new 40"—and with Americans living longer than ever before, it's not unusual for those in their 50s, 60s, or even 70s to be in their peak earning years.1 But for those who would prefer the option of...

Buying Life Insurance: What Kind and How Much?

Kevin M. Wells, CFP®

Tuesday, September 29, 2020

Conventional wisdom says that life insurance is sold, not purchased. In other words, some people are reluctant to discuss the importance of owning life insurance, and others are simply unaware of the need to have life insurance....

Life Insurance: Is It Missing From Your Plan?

Kevin M. Wells, CFP®

Wednesday, September 23, 2020

Life insurance may be a cornerstone of a sound financial plan, providing potential financial stability to a surviving spouse, children, or other family members in the event of your untimely death. Sadly, many Americans have no life...

A Quick Look at Life Insurance Needs

Kevin M. Wells, CFP®

Wednesday, September 16, 2020

Have you ever wondered how much life insurance is “enough”? One general rule of thumb says that you should buy an amount equal to five to seven times your annual income. Sure, it may be a reasonable guideline, but this...

Comparing Life Insurance Policies

Kevin M. Wells, CFP®

Wednesday, September 9, 2020

Like anyone else, you want a life insurance policy that meets your needs and budget. But how do you find the right policy when there are so many to choose from and many of them seem so similar? The key is knowing how to compare...

Beige Book Barometer Turns Positive

Kevin M. Wells, CFP®

Thursday, September 3, 2020

The outbreak of COVID-19 caused considerable deterioration in the economy and left many wondering when we might expect conditions to improve. As historic stimulus measures were implemented to backstop the economy from outright collapse...

National Life Insurance Awareness Month

Kevin M. Wells, CFP®

Wednesday, September 2, 2020

Should you really consider getting life insurance when you are close to 60? September is National Life Insurance Awareness month. And while most of us likely recognize that life insurance provides us peace of mind and security, there...

Back to School: Getting Your Financial House in Order

Kevin M. Wells, CFP®

Wednesday, August 19, 2020

The abrupt end to the 2019-2020 school year in many parts of the U.S. left parents and students alike struggling to establish healthy routines. As many students prepare to head back to the classroom (or the remote classroom) this fall...

A Checklist for Your Retirement Planning

Kevin M. Wells, CFP®

Wednesday, August 12, 2020

Remember, it is never too early to start planning for your future The time to begin planning for your financial future is now. So, when it comes to preparing for retirement, the earlier you start, the better. Here are some steps to...

July PMI Data Shows Recovery Chugging Along

Kevin M. Wells, CFP®

Thursday, August 6, 2020

We’ve written quite a bit lately about the deterioration in high-frequency data. Indicators of mobility (such as auto and air travel, commuting activity, restaurant diners, etc.) leveled off in July due to the latest wave of...

Life Insurance and Charitable Giving

Kevin M. Wells, CFP®

Wednesday, August 5, 2020

Life insurance can be an excellent tool for charitable giving. Not only does life insurance allow you to make a substantial gift to charity at relatively little cost to you, but you may also benefit from tax rules that apply to gifts...

Fed Says We’ve Got Your Back For As Long As It Takes

Kevin M. Wells, CFP®

Thursday, July 30, 2020

The Federal Reserve (Fed) completed its latest two-day policy meeting Wednesday, July 29, and the primary message coming from the world’s most important central bank was a continued commitment to supporting the economy as long as...

Six Tips To Take Control of Your Financial Health

Kevin M. Wells, CFP®

Tuesday, July 28, 2020

Similar to taking care of your personal health by proactively incorporating healthy habits and annual checkups, you can also take control of your financial health when you are proactive and engaged in managing your finances. And also...

Leading Indicators Elicit Cautious Optimism

Kevin M. Wells, CFP®

Friday, July 24, 2020

Leading economic indicators continued to rebound in June, albeit at a slightly slower pace than in May. Yesterday, The Conference Board released its June report detailing the latest reading for its Leading Economic Index (LEI), a...

Critical Business Strategies for Entrepreneurs Preparing for Retirement

Kevin M. Wells, CFP®

Thursday, July 23, 2020

When you work for an employer, saving for retirement can be as simple as signing up for a 401(k) plan and making regular contributions, but when you own your own business, preparing for retirement can be more challenging. While...

LPL Financial Research Midyear Outlook 2020: The Trail to Recovery

Kevin M. Wells, CFP®

Wednesday, July 15, 2020

LPL Financial Research is looking ahead for new ways to face current challenges and prepare for better times. Use our Midyear Outlook 2020 to chart a path to eventual economic and market recovery. Plus, learn how stocks may predict the...

A Look at College Savings Options

Kevin M. Wells, CFP®

Wednesday, July 15, 2020

As time goes by, planning for a child’s college education is more challenging than ever before. The saving or investing method you choose will depend on your child’s age, as well as your financial resources. Other...

Taking Stock at the Halfway Mark

Kevin M. Wells, CFP®

Wednesday, July 8, 2020

It’s certainly been a wild ride for stocks in 2020. Barely past the halfway point, the year has already brought the worst pandemic to hit the US in over 100 years, an unprecedented government-induced recession as much of the...

The Sandwich Generation: Juggling Family Responsibilities

Kevin M. Wells, CFP®

Wednesday, July 8, 2020

At a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses while at the same time looking after the needs...

Should You Buy Your Partner’s Book of Business When They Retire?

Kevin M. Wells, CFP®

Wednesday, July 1, 2020

You have spent years building your business with your partner, and now, they are getting ready to leave the firm. But that doesn't have to mean that their clients have to leave the firm. Instead, you may want to buy your partner's book...

Are CLOs a Systemic Risk?

Kevin M. Wells, CFP®

Thursday, June 25, 2020

What is a Collateralized Loan Obligation (CLO)? Collateralized loan obligations (CLO) are portfolios of leveraged loans, a type of below-investment grade loan usually taken out by more heavily indebted companies. Each CLO is divided...

Retirement Assistance Within the CARES Act

Kevin M. Wells, CFP®

Wednesday, June 24, 2020

In late March 2020, as the number of novel coronavirus cases in the U.S. surged past 100,000, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed into law.1 The CARES Act provides around $2.2 trillion in aid to...

Leading Indicators Turn Positive

Kevin M. Wells, CFP®

Friday, June 19, 2020

Yesterday, The Conference Board released last month’s reading for its Leading Economic Index (LEI), a composite of leading data series, which showed a month-over-month increase of 2.8%. As seen in the LPL Chart of the Day, the...

How the CARES Act Can Help Businesses Survive the Shutdown

Kevin M. Wells, CFP®

Tuesday, June 16, 2020

Many parts of the country are still under shelter-in-place orders, allowing only essential businesses like hospitals, grocery stores, and auto repair shops to continue serving customers. Businesses that have been closed to the public...

Next Hike We See May Be 2023

Kevin M. Wells, CFP®

Thursday, June 11, 2020

The Federal Reserve (Fed) completed its third scheduled policy meeting of the year Wednesday, June 10, and continued to signal strong support for the economy, committing to keeping rates near zero until it is confident of a recovery...

The Inflationary Impact of COVID-19 Stimulus

Kevin M. Wells, CFP®

Wednesday, June 10, 2020

The coronavirus outbreak, which was first detected in China, has infected millions of people in hundreds of countries and has left global governments, businesses, families and individuals around the world counting the costs. In the U.S...

Best 50-Day Rally Ever

Kevin M. Wells, CFP®

Thursday, June 4, 2020

In many ways, what we’ve seen so far in 2020 has been both record-breaking and devastating. From the S&P 500 Index peak on February 19 to the bear market lows March 23, stocks lost 33.9%. Now, 50 trading days later, stocks have...

Strategies for Managing Retirement Assets in the Event of a Layoff

Kevin M. Wells, CFP®

Wednesday, June 3, 2020

Layoffs are a fact of corporate life as companies grapple with economic cycles and global competition. If you get caught in a corporate downsizing and you are not immediately moving to a new employer, you generally have three options...

Beige Book Shows Suppressed Sentiment

Kevin M. Wells, CFP®

Thursday, May 28, 2020

Despite the gradual reopening of the economy in several states, sentiment on Main Street remains suppressed, as the effects of COVID-19 appear to be keeping a lid on American optimism in the most recent Federal Reserve (Fed) Beige Book...

Some Encouraging Real-Time Data

Kevin M. Wells, CFP®

Thursday, May 21, 2020

Most economic charts we look at in the LPL Research Department look alike. Many segments of the US economy came to an abrupt halt in March when the lockdowns and business closures began, making most economic charts covering March and...

Staying Calm and Positive During Trying Times

Kevin M. Wells, CFP®

Tuesday, May 19, 2020

News about the coronavirus has flooded the media, saturated social media streams, and dominated most people's minds for the last few weeks, and the crisis shows minimal signs of abating soon. When worry about this pandemic has affected...

As stocks rallied 30% off the March 23 lows and earnings expectations were cut dramatically, valuations have become increasingly concerning for many investors (including some high-profile hedge fund managers being quoted in the...

Could Your Retirement Withstand a Drop of 70%?

Kevin M. Wells, CFP®

Wednesday, May 13, 2020

It was January 2000 and Joseph Boeing just landed his dream job at his dream company, headquartered in his hometown of Seattle. Joe just turned 40 and as a mechanical engineer, married to Jill, with three kids, the Boeings were looking...

The Small Business's Guide to Surviving the Coronavirus Pandemic

Kevin M. Wells, CFP®

Wednesday, May 13, 2020

Whether your business has been temporarily closed by a state shelter-in-place order or is still operating as a provider of essential services, balancing your revenue needs with protecting the safety of your employees and customers can...

Working in an Essential Position? How to Cope with Coronavirus Stress

Kevin M. Wells, CFP®

Friday, May 8, 2020

The coronavirus crisis has temporarily shuttered entire industries, closing many businesses deemed "non-essential" until the peak of the illness curve has passed. But while some businesses have closed until further notice, others are...

Challenges Abound in the US Service Sector

Kevin M. Wells, CFP®

Thursday, May 7, 2020

Recent economic data confirms that the US economy has entered a recession, led by the consumer, which accounts for more than two-thirds of the economy based on gross domestic product (GDP). The consumer spending collapse was evident...

What Physicians Should Know About Choosing a Financial Professional

Kevin M. Wells, CFP®

Thursday, April 30, 2020

As a group, physicians are among the highest-earning professionals out there—and this specialized and life-saving career comes with some specific financial needs. Because of this, physicians should seek out a financial...

Silver Lining in Consumer Confidence Data

Kevin M. Wells, CFP®

Wednesday, April 29, 2020

The Conference Board’s Consumer Confidence Index (CCI) for April came in 86.9, falling more than 30 points from the prior month. The monthly drop was the biggest for the index since 1973, reflecting the severity of the economic...

Market Update

Kevin M. Wells, CFP®

Thursday, April 23, 2020

LPL Research on CNBC. LPL Financial Senior Market Strategist Ryan Detrick was on CNBC’s Power Lunch with Tyler Mathison Wednesday to discuss the drop in crude oil. You can watch the full video here. Stocks opened higher. The...

The Coronavirus and Dollar-Cost Averaging

Kevin M. Wells, CFP®

Tuesday, April 21, 2020

Investors have been whipsawed during late February and early March. Consider the performance of the Dow Jones Industrial Average from February 27th through March 11th of 2020. Investors saw: The three largest-one-day-losses in history...

Street View: Putting Things in Perspective

Kevin M. Wells, CFP®

Friday, April 17, 2020

The economic data keeps getting worse, yet stocks have been in the midst of one of the greatest multi-week rallies ever. As the LPL Chart of the Day shows, the S&P 500 Index gained 27.2% in the 15 days after the March 23 lows, the...

Benefits of the CARES Act for Individuals

Kevin M. Wells, CFP®

Thursday, April 16, 2020

The Coronavirus Aid, Relief, and Economic Security act – the CARES Act – is the largest economic bill in U.S. history and was designed to “provide emergency assistance and health care response for individuals,...

GDP Forecasts Explained

Kevin M. Wells, CFP®

Thursday, April 9, 2020

The economic damage inflicted by the current COVID-19 pandemic has been unprecedented, with thousands of businesses temporarily shuttered and millions of workers out of work. While the historic drop in economic activity is real and...

The CARES Act Key Components

Kevin M. Wells, CFP®

Friday, April 3, 2020

INDIVIDUAL ASSISTANCE Recovery Rebates Provides all U.S. residents with an adjusted gross income of $75,000 or less $1,200 for singles and heads of households ($2,400 for married couples filing joints returns). The rebate is phased out...

Street View: Is a Depression Coming?

Kevin M. Wells, CFP®

Thursday, April 2, 2020

“Could there be another depression” is one of the top questions we’ve received over the past week. “Yes, we are in a recession and many are worried if things may get much worse before they get better,”...

What Is in the $2 Trillion Relief Package?

Kevin M. Wells, CFP®

Monday, March 30, 2020

The United States has more cases of the coronavirus than any other country, and in an attempt to stop the spread of this disease, states have closed schools and businesses throughout the country. These unprecedented shutdowns have...

Making Sense of Skyrocketing Jobless Claims

Kevin M. Wells, CFP®

Thursday, March 26, 2020

Weekly new jobless claims were reported this morning, and to no one’s surprise they rose to levels thought unimaginable just a few weeks ago. As shown in the LPL Chart of the Day, 3.3 million people filed new claims for...

Stocks Approach 2009 Valuations vs. Bonds

Kevin M. Wells, CFP®

Thursday, March 19, 2020

We rolled out our Road to Recovery Playbook at the start of the week to help investors gauge where the market is in its bottoming process. The first and most important piece of that playbook—visibility into a peak in new COVID-19...

Fed Is All In

Kevin M. Wells, CFP®

Monday, March 16, 2020

The Federal Reserve (Fed) surprised markets over the weekend by holding its March 17-scheduled meeting a few days early and introducing a wide range of provisions. Those provisions are intended to add liquidity, increase credit...

Positive Signs From China on COVID-19

Kevin M. Wells, CFP®

Thursday, March 12, 2020

COVID-19 related fear has gripped markets, driving the Dow Jones Industrial Average and the S&P 500 Index into bear territory. As difficult as these markets are for all of us, there are reasons to be reassured coming out of China,...

Monday Market Drama and What May Lie Ahead

Kevin M. Wells, CFP®

Tuesday, March 10, 2020

On October 16, 2008 in an editorial for The New York Times, Warren Buffet, considered by many to be one of the greatest investors of his generation, repeated one of his favorite maxims: Be fearful when others are greedy and greedy when...

Coronavirus Market Update

Kevin M. Wells, CFP®

Thursday, March 5, 2020

It’s been a tough week. The number of coronavirus cases have continued to increase globally, and new cases have been confirmed in the United States. Countries are making progress with containment, but those efforts also have...

Handling Market Volatility

Kevin M. Wells, CFP®

Tuesday, March 3, 2020

Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake. Though there's no foolproof way to handle the ups and...

February Market Update

Kevin M. Wells, CFP®

Tuesday, February 25, 2020

Monday was a tough day in the stock market, with the S&P 500 Index down more than 3% as the number of coronavirus cases reported outside of China jumped. Monday’s losses reversed all of this year’s gains so far for the S&P...

The Coronavirus Outbreak Is Spreading

Kevin M. Wells, CFP®

Tuesday, February 25, 2020

News that the coronavirus—known as COVID-19—has spread to South Korea, Italy, Japan, and Iran, has led to massive selling around the globe, with many European markets closing down more than 4%. U.S. stock markets are...

Earnings Season Observations

Kevin M. Wells, CFP®

Wednesday, February 19, 2020

The recent news that technology giant Apple would miss its fourth quarter 2020 revenue targets has understandably increased investor anxiety surrounding the potential economic impact of the coronavirus (now called COVID-19). Lost in...

Planning for the 2020 Tax Season

Kevin M. Wells, CFP®

Tuesday, February 18, 2020

2020 doesn't just mark a new year, but the beginning of a new decade—and with it, some more changes to the federal tax code. It can often be easy to put tax preparation on the back burner, but being proactive can help you save...

Closer Look At February

Kevin M. Wells, CFP®

Thursday, February 13, 2020

A late month selloff in January saw the S&P 500 Index close marginally lower for the month. But stocks have taken off in February, with the S&P 500 up nearly 4% this month, as US economic data remains strong and fears over the...

Putting Savings (& Yourself) First

Kevin M. Wells, CFP®

Monday, February 10, 2020

Americans, it seems, are spenders. Personal savings rates are low and many people spend beyond their means. If you're among those Americans who can't seem to save, it might be time to create a budget. A budget allows you to understand...

Does A Lower January Have Bears Smiling?

Kevin M. Wells, CFP®

Friday, February 7, 2020

Stocks got off to a nice start in 2020, until the late January selloff due to the coronavirus outbreak fears. In the end, the S&P 500 Index fell only 0.2% for the month, but it did mark the end to a 4-month win streak. Should bulls...

Estate Planning Checklist

Kevin M. Wells, CFP®

Monday, February 3, 2020

Because you've worked hard to create a secure and comfortable lifestyle for your family and loved ones, you'll want to ensure that you have a sound financial plan that includes trust and estate planning. With some forethought, you may...

Viral Outbreak Ends Period of Market Calm

Kevin M. Wells, CFP®

Wednesday, January 29, 2020

Fears that the deadly coronavirus would spread further around the globe intensified Monday and led to the biggest one-day drop in the S&P 500 Index since October 8, 2019. In fact, it was the first time the index moved 1% in either...

How Different Generations Invest

Kevin M. Wells, CFP®

Wednesday, January 29, 2020

Each generation comes of age during different economic circumstances, and this can have a major impact on their later money habits. Financial advisors have identified some investing tips for certain generations that can help make their...

How Different Generations Invest

Kevin M. Wells, CFP®

Tuesday, January 28, 2020

Each generation comes of age during different economic circumstances, and this can have a major impact on their later money habits. Financial advisors have identified some investing tips for certain generations that can help make their...

Recession Watch Update

Kevin M. Wells, CFP®

Wednesday, January 22, 2020

As the economic expansion caps its first decade, we thought it’d be a good time to check on LPL Research’s leading indicators in our Recession Watch Dashboard. As you can see in our latest update and in the LPL Chart of the...

Health Care Options in Retirement

Kevin M. Wells, CFP®

Tuesday, January 21, 2020

For Americans turning 65, signing up for Medicare is a rite of passage. It's also the entrance to a labyrinth of choices and tradeoffs. What follows is a guide that can help you untangle the way through it. Medicare's Basics Medicare...

Q4 Earnings Season is All About 2020

Kevin M. Wells, CFP®

Wednesday, January 15, 2020

Fourth quarter earnings season kicked off this week with 24 S&P 500 Index companies slated to report results. Our expectations are for a marginal increase in S&P 500 earnings per share (EPS) on a year-over-year basis, based on current...

Protect Your Assets With a Trust

Kevin M. Wells, CFP®

Monday, January 13, 2020

Contrary to what many people think, trusts are not reserved only for the wealthy. The truth is, people from all walks of life may benefit from a trust. What Is a Trust? Generally speaking, a trust is a legal entity that allows someone...

Top 10 Key Provisions of the Setting Every Community Up for Retirement Enhancement (SECURE) Act

Kevin M. Wells, CFP®

Monday, January 13, 2020

As enacted on December 20, 2019 Prepared for LPL by Davis & Harman LLP Open Multiple Employer Plans / Pooled Employer Plans -- The SECURE Act allows unrelated small employers to band together in “open” 401(k)...

Outlook 2020

Kevin M. Wells, CFP®

Monday, January 6, 2020

Hindsight is 20/20, but finding clarity in future uncertainty can be fuzzy. AT LPL RESEARCH, as we look forward to the year 2020 and a new decade, some key trends and market signals will be important to watch, including progress on U.S...