In talking with clients about the benefits their employer provides during the open enrollment season, one often overlooked benefit if clients have dependents is the Dependent Care Flexible Spending Account (FSA).
Health Savings Accounts (HSAs) are not only a savvy investment option but also offer numerous benefits, especially for high-net-worth families. An HSA is a tax-advantaged savings account designed for individuals with high-deductible health plans (HDHPs) to help cover out-of-pocket medical expenses. While the utility of HSAs is universal, they hold advantages for high-net-worth families and have steadily grown in popularity since their inception.
Earlier this year, I explained two principles you can follow to obtain the most happiness from your spending https://www.highlandplanning.com/learning-center-1/how-money-can-buy-happiness-part-1. In today’s article, I will cover three more concepts that can help bring more joy in your life with your spending. Below are the five principles outlined in the book Happy Money.
In a previous article titled “The Estate Planning Essentials”, I identified the documents needed for a comprehensive estate plan. Although this can be a morbid topic most want to avoid thinking about, reviewing the documents not only ensures your financial legacy is passed in accordance with your wishes as smoothly as possible but guides your agent to ensure your medical and financial wishes are addressed. So, how often should you review your estate planning documents?
With the first half of 2022 closing just a few days ago, the S&P 500 is down almost 20% year-to-date. That would rank as the worst first half of the year in over 50 years! While many tend to avoid looking at their investment account statements during times like this, market downturns present unique opportunities for investors
Following a significant life event, such as divorce or the loss of a spouse, people face a common question: How will being newly independent affect my family's lifestyle? During this financially delicate period, a decrease in household income, the ability to remain in the family home, and the long-term impact on a person's retirement plan are all top of mind.
Growing up, my parents instilled two philosophies in me; to always live below my means and save for the future. Those simple words of wisdom resonated with me and unknowingly shaped my personal and professional life. Through my parents’ guidance, anytime I’d get a cash gift, I’d put some away in savings (i.e., my very secure piggy bank) and spend the rest on myself (i.e., probably on candy or something of the sort).
On Friday, May 20th, Avantis Investors, a provider of low-cost ETFs, celebrated the launch of three new Responsible ETFs by ringing the closing bell of the New York Stock Exchange (NYSE). In attendance at the closing bell to celebrate the launch was Ed Leach, a Partner and Wealth Advisor at HIGHLAND.
Every time the stock market experiences a correction (down >10%), we hear that familiar phrase, “It’s different this time.” Since 1950, there have been 39 corrections for the S&P 500, and they have all been the result of a different set of circumstances. There have been six years when long-term government bonds lost 5% or more during the same period, all with varying circumstances. Being different doesn’t mean that the market will not recover from a correction.
“The expert in anything was once a beginner.” This quote by Helen Hayes (an American actress who is one of 16 people to win an Emmy, Grammy, Oscar, and Tony Award) is an excellent reminder that when you take the first step to learn or try something new, you are making yourself vulnerable to the feeling of failure.
There seems to be a list of five things for anything you can think of to improve your odds of success. Pareto’s Principle (the 80/20 rule) states that 80% of the results will typically come from 20% of the cause. If a list of five things can truly make a difference in your life, that is an excellent return on your behavior.
For the first time since December 2018, the Federal Open Market Committee (FOMC) voted at its March meeting to raise the federal funds target rate range by ¼ percent to 0.25% - 0.50%. Following this initial increase, the median voting member expects seven more rate hikes in 2022 and an additional four hikes in 2023.
