What Is in the $2 Trillion Relief Package?

March 28th, 2020 by Legacy Wealth Planning

The United States has more cases of the coronavirus than any other country, and in an attempt to stop the spread of this disease, states have closed schools and businesses throughout the country. These unprecedented shutdowns have pushed many people out of work, hurt businesses, and brought much of the economy to a screeching halt. […]

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Avoiding COVID-19 Scams

March 26th, 2020 by Legacy Wealth Planning

Scammers, fraudsters, and other criminals are taking advantage of rapidly changing data and facts associated with COVID-19, both in the workplace and in our homes. Government agencies, corporations, and news outlets continue to warn individuals to be mindful of increased fraudulent activities during these uncertain times. These scams, which can be sent via email, text […]

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Coronavirus Concerns? Consider Past Health Crises

March 18th, 2020 by Legacy Wealth Planning

During the last week of February 2020, the S&P 500 lost 11.49% — the worst week for stocks since the 2008 financial crisis — only to jump by 4.6% on the first Monday in March1. By all accounts, the drop was largely driven by ever-increasing fears about the potential effects of the coronavirus (COVID-19) and […]

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Beyond Retirement: What About Your Other Goals?

February 26th, 2020 by Legacy Wealth Planning

Let’s say that at the age of 25, you earned $35,000. If your salary increased at the average historical rate, you’d have earned nearly $2 million in total by the time you were 65.1,2 That might sound like a lot — until you begin thinking about all the financial goals you’ll need to juggle in […]

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Retirement Plans for Small Businesses

February 12th, 2020 by Legacy Wealth Planning

As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer-sponsored retirement plan. In return, however, you’re required to include certain employees in the plan, and to give a portion of the contributions you make to those participating […]

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Getting Started: Establishing a Financial Safety Net

January 25th, 2020 by Legacy Wealth Planning

In times of crisis, you don’t want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you’re protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you […]

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Establishing a Budget

January 15th, 2020 by Legacy Wealth Planning

Do you ever wonder where your money goes each month? Does it seem like you’re never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals. Examine your financial goals Before you establish a […]

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10 Ways the SECURE Act Will Impact Your Retirement Savings

January 10th, 2020 by Legacy Wealth Planning

With the decline of traditional pensions, most of us are now responsible for squirrelling away money for our own retirement. In today’s do-it-yourself retirement savings world, we rely largely on 401(k) plans and IRAs. However, there are obviously flaws with the system because about one-fourth of working Americans have no retirement savings at all–including 13% […]

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How To Control Holiday Spending

December 10th, 2019 by Legacy Wealth Planning

If advertisements and commercials are beginning to feature scenes of happy families, clad in brightly colored sweaters, gathered by a fire, surrounded by an assortment of presents, then the countdown to the holidays has begun. Although it may be a joyous time that reunites old friends and distant family members, one dilemma you may face […]

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Avoid These Financial Traps — They May Be Hazardous to Your Wealth

October 21st, 2019 by Legacy Wealth Planning

Money. It’s hard to get and easy to lose. It doesn’t take long for the wealth you’ve accumulated to disappear if you don’t manage your money well or have a plan to protect your assets from sudden calamity. Snares like the ones mentioned below could easily threaten your financial security. Planning ahead can protect you […]

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