By: Dan Savage – Senior Vice President and Senior Trust Officer
Ask someone why they’re happily anticipating retirement, and you’ll likely hear plans about unlimited time for family, golf, travel, reading, biking, yoga, the health club, morning coffee, evening cocktails, freedom from stress, and much more. While these happy, idyllic scenarios unfold for some, they don’t for everyone.
Topics: Financial Planning, Retirement, Retirement Planning
By: Dan Savage – Senior Vice President and Senior Trust Officer
Estate planning is defined as the process by which an individual plans for the acquisition, use, conservation, and disposition of property or wealth. The National Network of Estate Planning Attorneys offers a clearer explanation:I want to control my property while I am alive and well, care for myself and my loved ones if I become disabled, and be able to give what I have to whom I want, the way I want, when I want, and, if I can, I want to save every last tax dollar, attorney fee, and court cost possible.
Topics: Trust, Wealth Management, Succession Planning, Retirement Planning
By: Jeff Supple, Vice President & Trust Officer
Steven Wright’s quintessential, dry-witted line about excess probably doesn’t do much for most of us, other than cause a chuckle. We probably aren’t looking for a deeper meaning or applying it to our everyday life. However, I thought it might be interesting to examine a few well-known idioms/quotes/sayings and explore how we might use them to make practical applications to our personal finances.
Topics: Financial Planning, Wealth Management, Retirement, Stock Market, Economic Outlook, Retirement Planning, Saving, Budget
By: Dan Savage, Senior Vice President and Senior Trust Officer
Business owners know that a high-quality 401(k) plan is an essential fringe benefit, valuable to both company and employee alike. Some also believe that offering 15 to 25 mutual funds, daily valuation, online statements, reasonable cost, and perhaps a few slick online planning tools somehow make their plan “first-rate.”
We disagree. We believe that the above-listed attributes, while important, are insufficient to qualify a plan as first-rate.
Topics: Financial Planning, Wealth Management, Retirement, Retirement Planning, Saving
By: Mark Drachenberg, Vice President and Senior Portfolio Manager
The following article – republished here courtesy of Broadridge Investor Communication Solutions, Inc. – contains sound advice for investors of any age and level of expertise. Regardless of one's market savviness, employing a back-to-basics approach can help keep things simple and provide perspective on one's goals and how best to achieve them.
Topics: Financial Planning, Wealth Management, Retirement, Stock Market, Retirement Planning, Saving
By: Jordon Geiger, Vice President and Trust Officer
What is a legacy? Is it the continuing operation of your business? It can be. Your personal wealth? Your family’s wealth? The brand image and reputation you’ve built? The lifestyles and careers of your children or other successors? Yes to all.
There is no formula a business owner can use to address the emotional side of succession. But there are strategies and leading practices an owner can use to confirm that his or her legacy isn’t left to chance.
Topics: Wealth Management, Succession Planning, Retirement, Business Plan, Business Valuation, Retirement Planning
Cost of living increase will kick in during the 2019 tax year which means individuals can save more money in tax-advantaged plans prior to their retirement.
Here are some key numbers:
Topics: Financial Planning, Wealth Management, Retirement, Tax, Retirement Planning