Carnegie Investment Counsel Blog

 

When Is it Time to Hire a Financial Advisor? How Do Their Fees Work?

Posted by Gary Wagner on Oct 9, 2020 10:30:00 AM

There is no specific timeline to help guide your journey to financial well-being. As such, there are no hard and fast rules that will determine the best time to engage a financial professional to help manage your assets. 

Many people feel that they can manage their investment portfolios on their own in spite of a lack of overall financial literacy or training. As your nest egg grows and your situation becomes more complicated though, you may find yourself in need of an all-encompassing financial game plan. Finding an advisor with whom you can develop a long-term relationship can go a long way toward meeting your financial goals.


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Topics: Financial Planning

A Day in the Life of a Financial Planner: An Interview with Heidi Rose, CFP®

Posted by Carnegie Investment Counsel on Sep 24, 2020 1:30:00 PM

As part of a new series, we share more about our financial advisors. In this article, we interview Heidi Rose, a CERTIFIED FINANCIAL PLANNER. At Carnegie Investment Counsel, every office location has access to a CERTIFIED FINANCIAL PLANNERteam member through virtual teams. Here is our interview with Heidi Rose: 

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Topics: Financial Planning

Will You Outlive Your Retirement Funds? Plan for Success Now

Posted by Gary Wagner on Sep 10, 2020 10:45:00 AM

If you are getting close to your retirement, you might be worrying about whether the money you have set aside is going to last. It’s a legitimate concern, especially considering that the average life expectancy continues to increase. There is a good chance that you’ll live longer, but will your money last longer? 

The answer is yes, it is possible to stretch savings. With a smart investment strategy, a realistic view of healthcare costs, and a commitment to living within your budget, you can make your money outlast your retirement. Let’s take a look at some ways you can improve your financial outlook with a little foresight and planning. 

 

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Topics: Financial Planning

Understanding Net Unrealized Appreciation (NUA) for Tax Planning

Posted by William Anderson on Aug 28, 2020 1:30:00 PM

Do you own your employer's publicly traded stock in your qualified retirement plan? And are you planning to retire soon? If yes, then the use of Net Unrealized Appreciation (NUA) may represent a significant tax planning opportunity for you. 

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Topics: Financial Planning

Survivor Benefits: Navigating Social Security for Widows, Widowers, Surviving Children and Parents

Posted by Bryan Blackburn, CFP® on Aug 14, 2020 10:30:00 AM

For many Americans today, Social Security is one of their most substantial retirement assets. In fact, nearly all U.S. workers and their families will qualify for some benefits under the system, originally enacted in 1935. Social Security benefits can be viewed as a portion of the “replacement income” that people need once they decide to retire.

While it is certainly a topic that is difficult for many of us to contemplate, what happens when we succumb to the inevitable and depart this life? What benefits under the Social Security program are available for surviving partners and children? Do parents of the deceased qualify for benefits?

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Topics: Financial Planning

What is a Custodial IRA? A Financial Advisor Shares Insights for Teens and Summer Job Savings Accounts

Posted by Raz Pounardjian on Aug 6, 2020 11:30:00 AM

Intern Peggy M. interviews portfolio manager Razmig Pounardjian for thoughts on what teens should do with their summer savings accounts. Here is Peggy’s post.

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Topics: Financial Planning

6 Retirement Mistakes Even Smart People Make And How to Avoid Them

Posted by Gary Wagner on Jul 14, 2020 1:46:00 PM

You’ve worked hard your entire life. Now it’s time to look forward to your retirement. After all your dedication, your golden years should be everything you hoped for. But along with the excitement of impending retirement, there also comes the responsibility of sound financial management.

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Topics: Financial Planning

CARES Act Summary - Updated for June 23, 2020

Posted by Carnegie Investment Counsel on Jul 8, 2020 1:30:00 PM

Updated June 23, 2020

[Text in BOLD below are updates reflecting IRS Notices 2020-50 and -51]

On March 27, 2020, the Coronavirus, Aid, Relief, and Economic Security (CARES) Act (the “Act”) was signed into law. A portion of the Act is intended to loosen access to retirement plan funds and provide relief for individuals impacted by the COVID-19 pandemic. The following is a summary of the retirement-related provisions of the Act:

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Topics: Financial Planning

New Required Minimum Distribution Rules: Should You Waive or Should You Go?

Posted by Bryan Blackburn, CFP® on Jul 1, 2020 11:15:00 AM

The retirement landscape for many Americans was altered significantly in December 2019 when the SECURE Act became law. Several facets of the legislation were intended to increase access to tax-advantaged accounts for many Americans. Another provision, though, aims to prevent older retirees from outliving their retirement assets.

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Topics: Financial Planning

Optimizing the Timing of Your Retirement for Social Security Benefits

Posted by Gary Wagner on Jun 23, 2020 1:30:00 PM

In the 85 years since the Social Security Act established a new means for Americans to prepare for life after their working days, the retirement landscape has changed significantly. There has been a dramatic reduction in defined-benefit pension plans and a migration toward defined-contribution plans like the 401(k). Life expectancies are longer and the full retirement age has crept higher.

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Topics: Financial Planning

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