Where Will You Live as You Grow Older?
Many people would rather not think about the consequences of aging in general, much less that they might eventually need to rethink their living situation.
The Allison Financial Group
Of Wells Fargo Advisors
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Which are the most tax-advantaged ways to save for kids’ college costs? Will your income stream last through retirement? Is your investment portfolio aligned with the economic and market outlook?
Our financial newsletters are designed to provide helpful information on a wide variety of financial topics. Simply click on one of the newsletter topics below to read an article in its entirety.
Where Will You Live as You Grow Older?
Many people would rather not think about the consequences of aging in general, much less that they might eventually need to rethink their living situation.
May
Previous Newsletters
May
New SAVE Repayment Plan Offers Key Benefits
In July 2023, the Department of Education launched a new income-driven repayment plan for federal student loans called the Saving on a Valuable Education Plan.
HOT TOPIC: What Stubborn Inflation Could Mean for the U.S. Economy
This article looks at some of the reasons behind the inflation numbers, the likely effect on Fed decisions, and the potential economic impact.
Housing Market Trends: Are They Helping or Hurting the Economy?
U.S. home values held steady in 2023, even as mortgage rates rose to the highest levels in a generation. What could the current state of the housing market mean for the broader U.S. economy?
ESG Investing in the Spotlight
This article explains environmental, social, and governance (ESG) investing and its potential effect on portfolio performance.
April
What’s Required of the Executor of an Estate?
Being named as the executor of an estate is generally an honor but settling an estate can be a difficult and time-consuming job. This article provides an overview of typical executor responsibilities.
Individual Bonds vs. Bond Funds: What’s the Difference?
Individual bonds and bond funds can both provide an income stream, but there are important differences. This article provides an overview of these two types of investments.
How a Family Limited Partnership Can Power an Estate Plan
A family limited partnership is a legal agreement that enables business owners and their heirs to address succession, estate, and tax planning needs, all at once.
Fixed Annuities: Retirement Income for Now or Later
Purchasing a fixed annuity shifts the risk for future investment returns to the insurance company and could help create a pension-like income stream for retirement.
Beware of These Life Insurance Beneficiary Mistakes
Naming a life insurance policy’s beneficiaries should be a relatively simple task, but there are some situations that can lead to unintended and adverse consequences.
HOT TOPIC: International Investing: The Diverging Fortunes of China and Japan
Investing Internationally can help increase portfolio diversification and provide access to opportunities that may differ from those in the United States.
March
HOT TOPIC: Can Productivity Keep Driving the U.S. Economy?
This article looks at the importance of productivity to the U.S. economy, possible contributing factors to the recent surge, and the prospects for an extended period of strong productivity growth.
Can Your Personality Influence Your Portfolio? New Research Points to Yes
The findings of two recent academic studies may offer insight into how investors can make more fruitful financial decisions.
How Savers and Spenders Can Meet in the Middle
Couples who have opposite philosophies regarding saving and spending often have trouble finding common ground. This article offers some tips to learn to work with financial differences.
Key Retirement and Tax Numbers for 2024
This article presents the IRS’ cost-of-living adjustments for 2024 that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts.
Roth 401(k) News: Is It Time to Rethink How You Save for Retirement?
High-income participants will not be allowed to make pre-tax catch-up contributions to a traditional 401(k) or similar plan starting in 2026, but they will be able to contribute to a workplace Roth.
The Federal Reserve’s Key Meeting Dates in 2024
This article outlines the Federal Reserve’s three main objectives and provides the meeting schedule of the Federal Open Market Committee.
February
Debit or Credit — What’s the Difference?
This article explains why it may be better to use a credit card for certain transactions, as long as the bill is paid on time to avoid interest charges.
Do You Have These Key Estate Planning Documents?
This article provides an overview of four estate planning documents that almost everyone should have: a durable power of attorney, a medical directive, a will, and a letter of instruction.
Don’t Forget About Credit When Planning for Retirement
Credit may not be at the top of the list when it comes to retirement, but good credit can make a big difference for retirees. This article looks at some key factors that lenders consider.
HOT TOPIC: Tax Season News and Survival Tips
Taxpayers may want to be aware of important updates as they prepare to file their 2023 federal returns. This article includes information, filing tips, and last-minute opportunities for tax savings.
Small Businesses Could Face Borrowing Challenges
Despite tougher lending conditions and higher interest costs, many people who need capital for business purposes may need to borrow money. This article discusses some common financing options.
A New Year, A New Opportunity to Save with a 529 Plan
This article explains how a 529 plan can help a family save for college, including recent changes that have made these plans more flexible.
January
How to Kill Your Zombie Subscriptions
With inflation cutting deeper than ever into consumers’ purchasing power, getting rid of a few unnecessary recurring charges could be a painless way to help balance the household budget.
Will You Work Beyond Traditional Retirement Age?
Does your income strategy beyond traditional retirement age include receiving a paycheck? This article looks at the advantages and disadvantages of working later in life.
Understanding Life Insurance
Life insurance can help replace much-needed income after the death of a provider. With the wide variety of policies available, it’s important to understand the basic types of coverage.
Setting a Retirement Savings Goal
Only 51% of workers or their spouses have tried to estimate the savings they would need to live comfortably in retirement. This article offers a simple worksheet to help calculate a savings target.
SECURE 2.0 Makes It Easier to Give and Receive
The SECURE 2.0 Act modified the rules for qualified charitable distributions to allow funding a charitable gift annuity or charitable remainder trust from an IRA.
HOT TOPIC: SECURE 2.0 Provides New Retirement Savings Options in 2024
The SECURE 2.0 Act made wide-ranging changes to U.S. tax laws related to retirement savings. This article provides an overview of some important provisions that take effect in 2024.
December
HOT TOPIC: A Cautiously Optimistic Economic Outlook for 2024
The U.S economy grew in the third quarter of 2023, despite high interest rates and unsettling geopolitical conflict. This article discusses market conditions and economic forecasts for 2024.
Why the EPA is Focusing on “Forever” Chemicals
In March 2023, the Environmental Protection Agency proposed the first federal limits for six types of per- and polyfluoroalkyl substances, or PFAS, in public drinking water.
New Medicare Rules Tackle Prescription Drug Prices
The Inflation Reduction Act of 2022 included provisions intended to lower prescription drug costs for Medicare enrollees and slow drug spending by the federal government.
Much Ado About RMDs
This article provides an overview of the changes the SECURE 2.0 Act made and a brief explanation of how to calculate required minimum distributions from tax-advantaged retirement accounts.
ISM Indexes Watch for Trouble on Both Sides of the Economy
Two different Purchasing Managers Indexes are generally considered to be leading economic indicators that can help businesses and investors make more informed decisions.
November
HOT TOPIC: Can Consumers Keep Carrying the Economy?
Consumer spending has bolstered the economy amid inflation, higher interest rates, and a cooling job market. This article looks at what may be driving spending and what might derail its momentum.
Bond Yields Are Up, but What Are the Risks?
After years of low yields, bonds are offering higher yields that may be appealing to investors regardless of their risk tolerance. This article provides an overview of bond risks.
HDHP/HSA Pairing May Help Control Medical Costs
High-deductible health plans offer potential savings by encouraging cost-effective choices in medical spending, as well as eligibility for a health savings account with tax advantages.
Tax-Loss Harvesting Offers Chance at Silver Lining
Stock market downturns can be rough on a portfolio’s bottom line, but selling losing investments may offer the potential to reduce an investor’s tax liability.
Breaking Down Clean Vehicle Tax Credits for Business Owners
Business owners may be able to claim one of two new federal tax credits to help offset the cost to purchase certain clean vehicles.
October
HOT TOPIC: Rising Oil Prices Could Pose the Latest Threat to the Economy
This article discusses the market dynamics that are impacting oil prices and adding to concerns about broader inflation and economic growth.
Managing Medicare Out-of-Pocket Costs
This article looks at the two different and mutually exclusive options Medicare beneficiaries have to help control retirement health-care spending: Medigap and Medicare Advantage.
Four Key Objectives of a Sound Retirement Plan
A sound retirement plan should be based on personal circumstances, and no one strategy is suitable for everyone. This article looks at four goals that a retirement strategy should address.
New FAFSA Favors Grandparent College Giving
Changes to the 2024–2025 Free Application for Student Aid (FAFSA) allow grandparents to help with college expenses without affecting financial aid eligibility based on the FAFSA.
September
HOT TOPIC: Soft Landing or Delayed Recession?
This article looks at the current state of U.S. economic activity and the prospects for continued growth as higher interest rates work their way through the economy.
Social Security 101
Social Security is complicated, and the details are often misunderstood even by those who are already receiving benefits.
Coming in 2024: New 529 Plan-to-Roth IRA Rollover Option
The SECURE 2.0 Act includes two new provisions related to college savings and funding. Learn more in this article.
All Eyes on the Earnings Picture
Earnings season can be a volatile period for stocks. As investors digest and respond to new data, the marketplace rewards some companies and punishes others.
Leave a Lasting Gift with an Ethical Will
An ethical will, also called a legacy letter, can tell a personal story and communicate beliefs and life lessons to family, friends, or community.
August
Home Energy Tax Credits
There are two separate federal tax credits available for home installation of certain energy efficient or clean energy property. Learn more.
SECURE 2.0: Big Impact for Small Businesses
This article discusses provisions in the SECURE 2.0 Act of 2022 that may be of particular interest to small business owners.
Mutual Funds: What’s in Your Portfolio?
Mutual funds offer a convenient way to invest across a wide range of market activity. This article provides an overview of different types of mutual funds in order of typical risk.
It’s Your Money: Why Not Get Your Withholding Right?
Did you owe money at tax time or receive a large refund? This article discusses the types of situations in which taxpayers should consider adjusting their withholding.
On the Move Again: International Travel Tips
Are you planning a foreign vacation? This article offers some suggestions that might help keep it on track.
HOT TOPIC: What’s Happening in the World of Higher Education?
This article covers the decline in college enrollment, recent developments in student debt and financial aid, and tips for making cost-effective decisions.
July
Why Buy Life Insurance During Unsettled Economic Times?
This article looks at four good reasons why life insurance can be especially helpful in a challenging economy.
Tracking the Fed’s Progress on Disinflation
This article compares the key inflation measures that economists and investors are watching for signs of easing price pressures.
SECURE 2.0 Act Expands Exceptions for Early Withdrawal Penalties
Discover exceptions to the federal income penalty for early withdrawals from tax-advantaged retirement accounts, including new exceptions added by the SECURE 2.0 Act.
REITs, Rates, and Income
This article provides an overview of REITs, including how they can offer a consistent income stream and why changing interest rates can affect REIT performance.
Child Care Is a Budget Buster: Take Advantage of These Tax Breaks
A tax credit and/or dependent-care flexible spending account might help offset some of the costs paid for a nanny, babysitter, day care, preschool, or day camp.
June
A Mortgage Recast Is an Alternative to Refinancing
This article explains how a mortgage recast works to enable a homeowner to reduce a monthly mortgage payment without having to refinance and why it may be an appealing solution in certain situations.
Cheaper Hearing Aids Are Coming to a Store Near You
Thanks to a recent regulatory shift, it’s now possible to buy an effective hearing aid without a medical exam or a prescription, potentially for a lot less money.
Does the Social Security COLA Help If You’re Not Receiving Benefits?
This article explains how the COLA not only helps current beneficiaries, but also may increase future benefits for those who are not yet receiving Social Security payments.
How Taxes Impact Your Retirement-Income Strategy
Retirees face unique challenges when managing their income, particularly when it comes to taxes. This article provides an overview of tax-related issues, from taxing Social Security to the new RMD rules and determining when to tap taxable and tax-advantaged accounts.
Most Grocery Shoppers Aren’t Fooled by Shrinkflation
You may have noticed products shrinking in size while prices stay the same or increase. This article includes tips for spotting and reducing the impact of this tricky strategy.
Will Artificial Intelligence Upend the American Workforce?
This article discusses the race between tech companies to monetize AI and how widespread adoption might affect workers, the economy, and society in general.
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