Many estate planning techniques are based on the Internal Revenue Code Section 7520 interest rate, which is at an all-time low of 0.6% as of June 2020.
Is your life insurance policy performing as well as it could be? Guest blogger Eryka Morehead explains some factors that could be undermining your policy’s performance.
At Foster Group, we work to capture the visions of our clients and their families, and then we create a roadmap to help them pursue those visions
In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.
At Foster Group, we focus on what we can control and embrace uncertainty. So, when it comes to your financial plan, what are the areas we can help you control?
Young physicians often ask, “Should I focus more aggressively on paying down my debt, or should I just do the minimum and try to save as much as possible?” That’s an excellent question, with lots of variables and layers.
In my daily work with clients, the question often comes down to, “How much do I need to retire comfortably?” My usual answer is, “How long are you going to live, and what do you want to eat?!”
While I don’t think this approach is for everyone, I do think many of us would benefit from making some of these decisions.
The rising U.S. national debt has been a topic of conversation for many years and 2020 has magnified the focus on this issue.
For most Americans, their house is their most significant asset. But it’s also the most personal one. There's a lot of emotion inside those four walls. If you want to buy your first or next home, it’s crucial to have a game plan going into it. Here are a few principles to consider when it comes to buying a home.
Medicare seems like the Alphabet soup of health insurance. Parts A, B, C, D and then the myriad of supplemental coverage. As Charlie Brown would say, “Good Grief”…. Let’s decipher it here.
A mega backdoor Roth is a great option to quickly build a tax-free bucket of money for individuals who have maxed out other retirement savings vehicles, still have surplus to be invested, and have a 401(k) plan that allows for this strategy. Consider this an additional tool in your toolbox.
While executive benefits such as stock options, other equity compensation, and deferred compensation can be powerful accumulation tools, knowing how they fit into your overall financial picture can be challenging.
In 2006, the Federal government created an alternate design in the Medicare market to complement supplement plans and stand-alone prescription drug plans. They’re called Medicare Advantage plans. Although the start was a bit rocky, carriers have learned and grown with their plan designs. Here are some of the most talked about design concepts of the Medicare Advantage plans.
By the time you read this, you will have most likely forgotten today. My guess is that you won’t remember what went on this day. You might remember a feeling or thought you had when you heard what was happening in the stock market. But then, you sent an email, mowed your lawn, took your dog on a walk and ate something healthy, like broccoli, for dinner.
I bought a puppy back in April, and it has been one of the most challenging things of my adult life. Training a new puppy is hard work and takes a lot of intentionality and thought. The same can be said about building a financial plan. I have a few tips that might help others avoid my mistakes.
Hopefully, you have read my first two blogs that talked about Medicare Supplement and Drug plans and the difference with Medicare Advantage plan designs. The last of this series will talk about the Annual Enrollment Period and what can really happen here.
In the end, your legacy is the lasting influence of the gifts you give, both during your lifetime and when you are gone. What do you want yours to be?
In financial planning, goals are important. There are different planning strategies we implement for different types of goals, and it is crucial for your advisor to understand how you plan or hope to use your money in the future.
Our vision at Foster Group is to influence thousands of individuals, families, and organizations with wise financial counsel while encouraging the pursuit of meaningful living and generous giving. One of the ways we like to do this is by expanding our clients’ giving toolbox.
After months of speculation, on September 13th, the House Ways and Means Committee released a proposal for tax reform effective in 2022 (and possibly in 2021 for selected provisions). The proposal contains a number of provisions that were expected, and a few surprises that we did not expect.
