Estate Planning for Blended Households: Ensuring Clarity and Security for Your Family
The increasing prevalence of blended households, often formed by individuals entering new marriages after divorce, presents unique challenges in estate planning. Blended families typically involve complex family structures, with spouses potentially having children and...
Stock Market Commentary March 2024
Tax Time Reminders: This is a reminder that if you took a distribution from an IRA in 2023, or if you had a non-retirement account that paid dividends or had trades placed, you will most likely receive a packet of 1099’s from both TD Ameritrade and Charles Schwab, and...
Beyond the 9-5: The Appeal of Side Hustles Like Uber and Doordash
With rising inflation impacting many, individuals and families are on the search for ways to boost or supplement their income streams. In our previous blog, we explored various strategies for increasing your monthly earnings. In this article, we delve into the...
Examining Pre-Tax and Post-Tax Contributions: Optimizing Your Retirement Savings
Choosing between a Traditional and a Roth IRA is one of the most frequent questions we receive from our clients. Understanding the differences between pre-tax contributions and post-tax contributions can assist in making a well-informed choice that aligns with...
Stock Market Commentary February 2024
Get Ready for Tax Season: When to Expect Tax Documents and Tax Prep Services If you haven’t already, you will most likely receive a packet of 1099’s from both TD Ameritrade and Charles Schwab, most likely in the last week of February or the first week of March at the...
Embracing Organizational Excellence: A Guide to Effective Financial Inventory Management
As we enter 2024, making organization a priority can be an excellent New Year's resolution. This goal can be pursued year-round or as part of a seasonal Spring-Cleaning regimen. This can range from decluttering your home, creating an efficient calendar or activity log...
Long-Term Care Eligibility: Understanding Activities of Daily Living
In a previous post, we discussed the topic of long-term care planning and the options available to help cover potential long-term care expenses. In this post, we will focus on Activities of Daily Living (ADLs) and how they are used to determine eligibility for...
Stock Market Commentary January 2024
Happy New Year! As we turn the page on the calendar and start a fresh chapter in 2024, it's natural to look both forward and back. We hope your holiday season was filled with joy and family, and now we turn our attention to some important financial matters, starting...
How Seasonality Shapes Economic Activity and Investment Decisions
Seasonal trends can be identified across various economic industries, and these trends correlate to when businesses may be growing or slowing on a recurring basis year after year. Consider how electricity companies typically see a surge in demand during summer months...
Aging and Finances: How Advisors Help Plan for Long-Term Care
While creating retirement plans for our clients, we always make sure to share the potential costs of long-term care (LTC) services. As with all medical expenses, the costs for this care are rapidly rising and can easily be one of the largest expenses you may encounter...
Stock Market Commentary December 2023
IRA to ROTH IRA Conversions Each year, we recommend that our clients consider converting money from an IRA to a Roth IRA. Because of our national debt, we believe that taxes will need to be raised in the future, and tax brackets will correspondingly be worse. If you...
Budgeting for a Home Purchase: Everything You Need to Know
Buying a home is one of life's most significant milestones. Whether you are buying your first home or have been through this process before, there are a few budgeting tips that we want to address. These tips can help you prevent surprises and stay on track so you can...
How to Diversify Your Retirement Income: Strategies for Reducing Risk
Planning for your future retirement income needs is one of the most challenging financial tasks you will face. There is a lot of uncertainty surrounding the future of the economy, as well as your potential life expectancy. Some factors, such as market...
Stock Market Commentary November 2023
Health Insurance Open Enrollment: Summit Health Services is now offering appointments to review any health insurance questions you may have. They can quote a large number of available options to make sure you have the best plan for your specific needs. Call us today...
Designations Matter: Why I Pursued my CFP® Certification
Every profession has designations that reward hard work and dedication. For example, personal accountants often pursue their Certified Public Accountant (CPA) designation. In our industry, one such designation is the CERTIFIED FINANCIAL PLANNER™ certification. The...
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Investment advisory services are offered through Summit Financial Consulting LLC, an SEC registered investment advisory firm. Registration with the SEC does not imply a certain level of skill or training. Summit Financial Consulting LLC is not affiliated with or endorsed by the Social Security Administration or any government agency. Summit Financial Consulting LLC and its representatives do not render tax, legal, or accounting advice. Insurance products and services are offered through Summit Financial Consulting LLC.
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