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According to Bankrate’s 2025 Retirement Savings Survey, about 3 in 5 American workers say their retirement savings are behind where they should be. A 2024 AARP survey found that 1 in 5 adults over 50 have no retirement savings at all....

Running out of money in retirement is become one of the defining fears of modern life. According to the 2025 Annual Retirement Study by Allianz Life, 64% of Americans say they’re more worried about running out of money than dying....

According to the SBA’s Office of Advocacy, there are 36.2 million small businesses in the United States as of 2025, employing nearly 46% of the private-sector workforce. But for all their economic power, small businesses face serious...

For decades, financial professionals and policymakers have wrestled with the same fundamental challenge: how to help families start saving earlier, stay invested longer, and build durable financial security across generations. The...

For many small business owners, one of the simplest questions can be difficult to answer: “How much should I be paying myself?” Some owners take too little, reinvesting everything back into the business. Others take whatever is left at...

When most business owners start their company, one of the first decisions they make is choosing a legal structure. They form an LLC, elect S corporation status, or begin operating as a sole proprietor, often based on simple advice or...

It's generally a good idea to review your employer-sponsored retirement savings plan at least once each year and when major life changes occur. If you haven't given your plan a thorough review within the last 12 months, now may be a...

For many business owners, success looks strong from the outside. Revenue is healthy. The team is growing. The business has real value. Yet when asked a simple question: “How financially secure are you, separate from the business? The...

For many business owners, success looks like this: steady revenue, a growing team, and a full calendar. On paper, things are working. But beneath the surface, no one discusses the quiet reality: the business depends too much on you. If...

Have you recently received a bonus from your employer? While bonuses can be a welcome boost to your income, they often come with questions—and surprises—at tax time. Understanding how bonuses are taxed and withheld can help you plan...

In today's corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you've...

As we step into 2026, it's essential to understand the economic forces shaping the investment landscape. While the future remains uncertain, current projections offer valuable insights for investors seeking to align their strategies...

Every new year brings the opportunity to set financial goals, but many resolutions fizzle out before February. Whether your priority is saving more, paying down debt, or investing for the future, creating a realistic plan and adopting...

What is it? You and your spouse have recently divorced or are planning to divorce. Either one of you may have life insurance policies in effect, and you probably have questions about your new and continuing needs for life insurance....

As a partner or co-owner (private shareholder) of a business, you've spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement to ensure your surviving family a smooth...

The end of the year is a natural time to take stock of your financial picture. This includes the insurance coverage that protects your income, family, and assets. Life changes, inflation, and shifting financial goals can all affect how...

As the year comes to a close, it’s a good time to check in on your investment portfolio. Market fluctuations, changing interest rates, and personal milestones can all impact whether your investments still align with your goals and...

Planning on working during retirement? If so, you're not alone. An increasing number of employees nearing retirement plan to work at least some period of time during their retirement years. Why work during retirement? Obviously, if you...

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...

The holidays can be joyful and expensive. With higher prices on everything from travel to groceries and endless options for gifts, it’s easy for spending to spiral. A thoughtful plan can help you keep the season merry without straining...

Thanksgiving brings together two of life’s best things: food and family. Whether you’ve been heading to grandma’s house for the past 20 years or you’re hosting your first Friendsgiving in a tiny apartment, the same beloved traditions...

Life insurance can be an excellent tool for charitable giving. Not only does life insurance allow you to make a substantial gift to charity at relatively little cost to you, but you may also benefit from tax rules that apply to gifts...

Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you...

Children are a special blessing and their arrival brings boundless love and joy into our lives that you can't put a price on. But adding a child to the household impacts the family budget in very measurable ways. Whether this is your...

What are budget goals? Think of your budget goals as your financial wish list and your spending plan as a way to make those wishes a reality. Without clear budget goals, your financial life may remain in disarray. Like any other goals...

The traditional image of retirement often involves a clear-cut path: work for X years, retire at age Y, and live comfortably on a pension and Social Security. While appealing, this retirement picture is rapidly changing. Today, the...

When it comes to something as personal as our finances, it's natural that our individual perspectives, experiences, and even our gender can shape how we approach money and who we trust for advice. A study conducted by Barnum Financial...

The underwriting process is how an insurance company evaluates the risk of insuring an applicant to determine their eligibility for coverage and set the appropriate premium. It's a comprehensive review that assesses a wide range of...

In the world of financial planning, few tools are as universally valued as life insurance. While some people may put off having the conversation, our Study of Working Americans reveals a powerful truth: those who have it, value it...

What is maximizing the estate planning value of life insurance?Simply put, maximizing the estate planning value of life insurance means getting the most bang for your buck. That is, it involves keeping as much of the proceeds as...

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement...

As the Connecticut summer winds down, an opportunity emerges for savvy shoppers and families gearing up for fall: the annual Sales Tax-Free Week. From Saturday, August 17th, through Friday, August 23rd, 2025, residents of Connecticut...

Entrepreneurs face distinct challenges when securing their retirement. Their fluctuating business income, coupled with the inherent uncertainties of a dynamic business plan, creates a unique landscape compared to traditional employment...

You vaguely remember signing a form every year at college registration time. Now that you've graduated, it's all become painfully clear — those forms were promissory notes detailing your student loan obligations. Your loans aren't...

As the summer winds down, many families find themselves in a natural moment of reflection – shifting focus from leisurely pursuits to the long-term stewardship of their legacy. August, often a quieter period, presents a strategic...

Life's an unpredictable journey, isn't it? One moment you're cruising, and the next you're navigating a sharp turn. It could be a new job, a growing family, or an unexpected expense. These shifts, big and small, directly impact your...

You've worked hard your whole life anticipating the day you could finally retire. Congratulations — that day has arrived! But with it comes the realization that you'll need to carefully manage your assets to give them lasting potential...

A Look at Its History, Importance, and Evolving Landscape The American workplace has undergone a dramatic transformation over the past century, and with it, the nature of employee benefits. In the midst of this evolution, one piece of...

Medicare, the federal health insurance program for Americans aged 65 or older and certain younger individuals with disabilities, is constantly evolving. The updates primarily driven by the Inflation Reduction Act of 2022 (IRA), aim to...

Investing in Collectibles as an Alternative Asset Imagine stumbling upon a dusty painting in your attic, only to discover it's a lost masterpiece worth a fortune. Or perhaps the carefully preserved vintage baseball card you inherited...

You're an adult, and that distinction comes with some privileges, benefits, responsibilities, and choices to make, including the potential decision of whether to live with your parents or move out. Not surprisingly, there are pluses...

We all have causes that stir our hearts, issues that ignite a desire for change. Often, our generosity manifests as a check, a contribution made with good intentions. But what if our giving could transcend a single transaction, and...

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by...

What is it?If you don't have disability income insurance because you can't afford the premiums, you should know that there are several strategies you can use to make disability coverage more affordable. These strategies include...

By investing for retirement through your employer-sponsored plan, you are helping to manage a critically important financial risk: the chance that you will outlive your money. But choosing to participate is just one step in your...

Save your money. Stick to a budget. Invest in a 401K. Plan for your children’s education. Prepare for retirement. As we all work in our various career fields, these are the phrases we hear consistently. Building a financial plan is...

It's hard to talk about college without mentioning financial aid. Yet this pairing isn't a marriage of love, but one of necessity. In many cases, financial aid may be the deciding factor in whether your child attends the college of his...

We live in a world where financial decisions are woven into the fabric of our daily lives. From managing student loans to planning for retirement, the ability to navigate the complexities of personal finance is more crucial than ever....

What is it?Evaluating and comparing life insurance policies is complicated. After determining how much life insurance you need, you must decide what type of life insurance to buy. Should you buy term insurance? A whole life policy? A...

If a former student is past due on a Federal student loan, there is an obvious way to bring the loan account current. The borrower simply pays the past due amount and continues on with his or her payment plan. However, most delinquent...

Life insurance. It's a topic that often elicits a mix of emotions: concern, perhaps a touch of anxiety, and for some, a sense of overwhelming dread. We know, as financial professionals, that it's a crucial component of a sound...

Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, or are starting a family, enjoying your peak...

As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what's...

If you fail to estimate your federal income tax withholding properly, it may cost you in a variety of ways. If you receive an income tax refund, it essentially means that you provided the IRS with an interest-free loan during the year....

You will need to think about the disposition of your assets at your death and any tax implications. Statistically speaking, women live longer than men. So if you are married, you'll also probably have the last word about the final...

Submission of the Free Application for Federal Student Aid (FAFSA) is the first step for all students seeking Federal, state, college, and private financial aid. To improve the financial aid process, the FAFSA Simplification Act (the...

Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is...

One of the challenges of investing during retirement is providing for annual income while balancing that need with other considerations, such as liquidity, how long you need your funds to last, your risk tolerance, and anticipated...

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses but also what sources of retirement income you'll have and how long...

Disasters can strike anybody at anytime, resulting in catastrophic property damage and loss. Fires in dwellings and natural disasters such as floods, hurricanes, tornadoes, severe storms, mudslides, and wildfires cause significant...

You may be counting on funds from a defined benefit plan to help you achieve a comfortable retirement. Often referred to as traditional pension plans, defined benefit plans promise to pay you a specified amount at retirement. To help...

Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them with a...

Investing for your retirement isn't about getting rich quick. More often, it's about having a game plan that you can live with over a long time. You wouldn't expect to be able to play the piano without learning the basics and...

Married couples often decide together that one spouse should be the primary breadwinner while the other stays home to take care of family members. Although this often works out well for childrearing or eldercare responsibilities in the...

What would you do with an extra $10,000? Maybe you'd pay off some debt, get rid of some college loans, or take a much-needed vacation. What if you suddenly had an extra million or 10 million or more? Now that you've come into a...

What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health or finances. You could lose the ability to pay bills,...

Ever since a legal secretary named Ida May Fuller received the first retirement benefit check in 1940, women have been counting on Social Security to provide much-needed retirement income. Social Security provides other important...

If your employer-sponsored 401(k) or 403(b) plan offers pre-tax, Roth, and/or non-Roth after-tax contributions, which should you choose? How do you know which one might be appropriate for your needs? Start by understanding the features...

Planning for your own business Before you start your own business or buy an existing business, you should do some initial planning. You may have already decided what type of business you want — your own restaurant, retail outlet,...

Women often face special challenges when planning for retirement. For example, if they are the primary caregivers in their families, their careers may be interrupted to care for children or elderly parents, which means they may spend...

Your retirement lifestyle will depend not only on your assets and investment choices, but also on how quickly you draw down your retirement portfolio. The annual percentage that you take out of your portfolio, whether from returns or...

If you give away money or property during your life, those transfers may be subject to federal gift and estate tax and perhaps state gift tax. The money and property you own when you die (i.e., your estate) may also be subject to...