Our Insights

It’s easy to throw up your hands in exasperation when it comes to filing papers and documents at home, and you’re likely tempted to shred everything to be done with it. Still, keeping good records will reduce clutter, prevent identity theft, and reduce stress. No more searching for needed paperwork! The principles of good record management for businesses also pertain to personal recordkeeping. They are accountability, transparency, integrity, protection, compliance, and accessibility. Consider the following principles (and time frames) when

The traditional retirement age in the United States is 65, the age at which most people are eligible to begin receiving full Social Security benefits. However, many people feel the allure of leaving the workforce much sooner. Many Americans are deciding to retire earlier than planned, whether by choice or because of other circumstances. According to the 2023 Retirement Confidence Study, workers report retiring at a median age of 62 years.1 Let’s examine why many Americans retire earlier than planned

It seems like when summertime hits, time slows down. The hustle and bustle of the holiday season are over, taxes are complete, and vacation days are scheduled. If you find yourself with some extra time on your hands in the upcoming months, you may want to use this opportunity to check in on your family’s finances. While conducting a thorough analysis of your wealth may sound intimidating, we have broken the process down into eight simple steps to keep you

 U.S. Markets  Stocks extended their rally in the second quarter, boosted by cooling inflation, the prospect of a shift in monetary policy, and enthusiasm over artificial intelligence.  For the three months ending June 30, the Dow Jones Industrial Average added 3.41%, while the Standard & Poor’s 500 Index picked up 8.74%. The Nasdaq Composite, which led in the first quarter, led again, gaining 12.81%.  Inflation Breaks  The stock market’s climb over the second quarter did not come without occasional bumps,

While you and your Patriot Advisor will work to create an overall retirement strategy, this does not mean that you will not need to make changes along the way. So, the question remains: When should you revisit your retirement strategy? First, when you have had a major change in your career, that is a good time to talk about your strategy. That change can be getting a new job, quitting, or being laid off. It can also be a promotion

Parents share a lot of private things with their children in the hope that the information will help them grow into successful adults. However, there is one topic most parents try to avoid talking about at all costs. And no, it is not what you are thinking. For many parents, the idea of having the “money talk” with their kids is a terrifying thought. The biggest reason parents avoid the topic is they don’t believe they know enough about money themselves and fear they will give their children the wrong

When the kids leave the nest and the family home seems too big and requires too much work to maintain, many retirees opt for new living arrangements. For many, the dream is to relocate to a warmer climate and a small patio home. Others decide to stay put and rent out a portion of a large house to help with finances. Many others choose to remain in their current living conditions throughout their golden years. No matter what living situation

Why do clients inquire about Health Savings Accounts? They have heard about what an HSA can potentially offer them: a pool of tax-exempt dollars for health care, a path to tax savings, even a possible source of retirement income after age 65. You must enroll in a high-deductible health plan (HDHP) to have an HSA, a health insurance option that is not ideal for everybody. You fund an HSA with pre-tax contributions. Some employers will even provide a matching contribution

In honor of Military Appreciation Month, we recognize those in the military and their families. Military members and their families face one-of-a-kind challenges, such as deployment to conflict zones, overseas assignments, and the constancy of change – all of which make dedicating time to personal finance a challenge. Luckily, there are special tax breaks and other benefits unique to service members. Follow these five tips to take advantage of potential benefits and simplify your military family’s personal finances. Tip #1:

One of the biggest challenges of planning for retirement is figuring out how much you can spend during your golden years. Retirement income planning requires careful preparation, and budgeting. A popular retirement income planning guideline is the 4% rule, which suggests that you live off 4% of your total investments during the first year of retirement. Then, you readjust every year in retirement based on your changing needs and inflation. But does this rule hold up? Is the 4% rule