Back in July, Congress passed the One Big Beautiful Bill Act (OBBBA) — a wide-ranging piece of legislation that introduces significant updates to the tax code, education savings, estate planning, and more. The changes it brings are substantial and could have a meaningful impact on your financial strategy ...
As Halloween approaches, it’s not just ghosts, goblins, and things that go bump in the night that can give us a scare. For many, the real fright comes from the financial worries, including whether they’re saving enough, how market swings might impact their future, or what unexpected costs could creep in. However, there is good news! With the right planning, these financial “ghosts” don’t have to haunt you. Let’s shine a light on a few common fears and how to keep them from lurking in the shadows of your financial plan ...
Social Security changes often make headlines, and it’s easy to see why. With nearly 68 million Americans receiving benefits each month, plus millions more contributing to the system, Social Security has become an integral part of financial security for Americans since its establishment in 1935 ...
So, how do you go about coaching this team of guardians, agents, executors, trustees, and beneficiaries; and what should you expect from them in return? We’ve highlighted the best practices we encourage all of our clients, friends, and family to follow below:
When I began my financial planning degree program in 1996, it really didn’t occur to me that I was entering a male-dominated profession. My mother had always been the leader in financial decision-making in our family, which didn’t seem unusual to me at all. Through her, I learned the value of a dollar and the value of giving back. Almost three decades later, it is now the norm for women to direct their own as well as their family’s finances. In fact, two separate studies show that women’s investment returns were .4%1 to 1%2 higher annually than their male counterparts. They suggest the main reasons for women outperforming men with regard to investment returns boil down to “overconfidence” and “overactivity.
Happy New Year from all of us at Woodward Financial Advisors! Three years ago, the original SECURE Act (Setting Every Community Up for Retirement Enhancement) passed, bringing a host of changes, including an increase to the Required Minimum Distribution age from 70 ½ to 72 and the elimination of the “Stretch-IRA.” On December 29, 2022, the much-anticipated SECURE Act 2.0 was signed into law.