Update on TD Ameritrade Since Charles Schwab announced the merger with TD Ameritrade on November 25, 2019, we have communicated to you the many stages of this process. We are approaching the final stage, where the transition of your account from TD Ameritrade to the...

In our opinion, a college education can easily be one of the most important financial decisions of your and your children’s lives. We believe a higher education has been the primary route to secure a successful future and the costs associated certainly reflect that...

TD Ameritrade Merger and Transition to Charles Schwab Platform Since Charles Schwab announced the merger with TD Ameritrade on November 25, 2019, we have communicated to you the many stages of this process. We are approaching the final stage, where the transition of...

We believe effective budgeting is one of the most important components of a financial plan, yet the task is often overlooked.  We have seen that some individuals delay investing towards their financial future because they do not understand the power of compounding...

We believe debt can have a strong negative influence on your financial plan for two main reasons. First, the money that is being charged in the form of interest is being paid to the lender rather than being kept for another potential financial goal. The more debt you...

The Debt Ceiling Drama: A Critical Juncture The Debt Ceiling is the maximum amount of money the U.S. Treasury can borrow. Increasing the Debt Ceiling allows the government to pay for obligations like Social Security, government employee wages, and military spending....

We believe the recent high inflation has caused many individuals and families to struggle to pay their monthly bills. If you're also looking for ways to boost your income, check out our recent blog post on Increasing Monthly Income This blog entry will focus on...

Recent Bank Failure: What Happened and Why? This month, we unfortunately had another bank failure brewing. It was announced that First Republic Bank was seized by regulators, and the bulk of the assets were purchased by JPMorgan, thankfully avoiding another major...

Qualified Dividends receive preferential tax treatment as they are taxed as capital gains, provided they meet certain requirements. Non-Qualified Dividends do not receive any additional tax benefit and are taxed as ordinary income.  The majority of dividends that are...

Retirement Planning Done Right: Work with a Fiduciary | Analyze Your Portfolio | Strategies to Reduce Taxes written by our advisory staff here at Summit Financial Consulting, LLC.  The Millionaire Next Door: The Surprising Secrets of America’s Wealthy written by...

We began utilizing our new research partnership in March. If you haven't seen our previous update about our collaboration with the Sherman Group, LLC, please check the middle section of this article.   Mixed Results in March, But April Could Be Sunny We encourage...

The main two types of debt are Secured and Unsecured. The interest rate received, and the tax deductibility of the interest are two primary ways to evaluate the quality of debt.  It can be hard to retire with a large amount of debt, so we typically recommend clients...

The proposed budget could decrease the nation’s deficit by $3 trillion within the next ten years if approved. The main focus of the debate is the areas of increased taxation to offset increases in budget expenses. It is unlikely this proposition will pass the...

What Is Behavioral Finance? Behavioral Finance is the textbook term used when discussing human psychology as it relates to money management.  Emotions tend to drive the investment decisions of retail investors while large financial institutions rely on technical and...

A Recession or Depression occurs when the economy declines either a substantial amount or for an extended period of time.  There is commonly an identifiable trigger for the economic pullback, but it also could be caused by the timing of the economic cycle.  A...