Blog
Welcome to the Point Comfort Wealth Management Blog. Here you will find news, opinions, insights, and thought leadership written by our professionals.
Five Common Misconceptions About Retirement
Retirement is not what you retire from, but what you retire to When you plan for retirement, an exciting new phase of life, double-check your expectations. They may not match the reality. Baby boomers, currently in their 50s and 60s,...
Read MoreSteps to Protect Yourself From Identity Theft
Identity theft hits your finances, but also can affect your taxes too Identity theft is one of the fastest growing crimes in the United States, with as many as 10% of Americans over age 16 becoming victims last year, according to a...
Read MoreSecure 2.0 Offers New Options for 529 Plans and Student Loan Payments
In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan to a...
Read MoreWhy Life Insurance Is Important at Any Age
Many people know that life insurance is important to have, and yet not enough actually get it. Some decide they’ll get it later in life while others feel it’s a waste of money because they don’t have any health issues...
Read MoreTax-Advantaged 529 Accounts
What families need to consider According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for the 2021-2022 school year was $10,740 for in-state students...
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Kick-Starting Your Retirement with a 401(k) Plan
Take control of your retirement planning with a defined contribution plan The 401(k) pension plan, named after that section of the Internal Revenue Service Code that created it, has become one of the most popular retirement plans in...
Read MoreManaging Financial Stress
Money concerns can be overwhelming to the point that they affect other aspects of your life, including your mental and physical well-being. However, there are various strategies you can use to help you better manage and alleviate this...
Read MoreSix Keys to More Successful Investing
A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic...
Read MoreUnderstanding Social Security
Approximately 70 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits.1 Although most people receiving Social Security are retired, you and your family...
Read More3 Ways Planning For Retirement is Like Planning For Summer Break
For kids, teens, and college students, summer break often represents freedom from schedules, responsibilities, and all those other drains on your time. Retirement actually can provide a similar level of freedom, but only if you've...
Read MoreWhat to Know Before You Open Your Next Investment Account
Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy...
Read MoreGenerational Wealth and the Gift of Financial Freedom
Those who receive an inheritance with the passing of a loved one are potentially given the gift of financial freedom if they choose to manage the wealth carefully. Did you know that only about one-third of adults have a prepared will,...
Read MoreFinancial Freedom, Market Volatility, and You
If recent market volatility has you questioning your opportunities for financial freedom, you are not alone. Due to rising inflation, higher interest rates, a volatile stock market, and recession fears, many investors find themselves...
Read More10 Tips to Work Toward Financial Freedom
Financial freedom is a state of being in control of one's finances, covering expenses easily, and saving for future goals. Financial freedom enables you to choose how you spend or interact with your money and have the choice to decide...
Read MoreFinances and Fireworks: 5 Strategies to Help Preserve and Celebrate Your Financial Freedom
Your finances are probably one of the last places you want to experience fireworks—unless they are celebratory. With new year's resolutions firmly in the rearview mirror, the summer months allow you to revisit your financial...
Read MoreBroadening Your Annuity Horizons with Details
Five key questions to ask yourself about fixed and variable annuities While fixed annuities are generally considered to be conservative instruments, variable annuities are investments with the growth potential necessary to outpace...
Read MoreFunding Your Future with a Fixed Annuity
Annuity contracts have fees and expenses, limitations, exclusions, holding periods, termination provisions, and terms for keeping the annuity in force. Most annuities have surrender charges that are assessed if the contract owner...
Read MoreYounger Workers Stashing More for Retirement
Saving early may lead to greater wealth and a more confident retirement The importance of retirement savings has been gaining traction among younger workers, with Generation Z and Millennials taking a proactive approach to secure their...
Read MoreRetirement Revolution: 3 Reasons to Rethink Your Retirement Plan
Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical...
Read More4 Tips and Resources to Help Seniors During Periods of High Inflation and Market Volatility
In 2022, U.S. inflation hit a 40-year high, with prices for food, housing, gasoline, and other key staples increasing by nearly 10% over the previous year.1 During these uncertain times, stocks have continued a roller-coaster ride...
Read MoreSetting and Targeting Investment Goals
All investing involves risk, including the possible loss of principal, and there can be no guarantee that any investing strategy will be successful.Dollar-cost averaging does not ensure a profit or prevent a loss. Such plans involve...
Read MoreEverything You Need to Know About Adjusting to Retirement
Economists and pundits predicted that the baby boomer generation's retirement would be dramatic, and the COVID pandemic sped things along. According to the St. Louis Fed, the number of retirees in the U.S. increased by 7% between...
Read More3 Tips for Preserving Wealth in Your Golden Years
After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. You may wonder whether there is any way to maintain your lifestyle and preserve your wealth to...
Read MoreUnused 529 Plan Funds: 5 Spending Options to Consider
529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary's qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to...
Read MoreTips for Controlling the Rising Cost of Healthcare
Keeping a lid on rising health care costs will likely remain at the forefront for organizations this year, for good reason. A confluence of factors – including widespread inflation, economic instability and increased health care...
Read More7 Tips to Becoming a Financial Samurai
7 Tips to Becoming a Financial Samurai Miyamoto Musashi is one of history’s greatest swordsman having never lost a duel. He was a philosopher, writer and strategist who wrote the Dokkodo, 21 principles for living a...
Read MoreIncome Tax Planning and 529 Plans
Income Tax Planning and 529 PlansThe income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the...
Read MoreGetting Organized Before Summer Starts
Get Organized Before Summer StartsVacations, barbecues, and recreational sports are just a few reasons why summer can be a busy time of year. It’s a good idea to get your home, health, and schedule organized ahead of time so you...
Read MoreInvesting in Your 60s and Beyond
Once you are in your 60s, you are likely to focus less on growing your retirement funds than answering, "When do I retire?" And once you crack open your nest egg, how should you allocate its contents? The answer often lies in a...
Read More7 Things You Can Do to Trim Your 2023 Tax Bill
Tax season can be a stressful time for many people, especially if you're not fully prepared. However, with some advance planning and preparation, you can take steps to mitigate your tax bill for the upcoming year.
Read More4 Financial Self-Care Tips for Women
When it comes to financial management, women face unique challenges over their male counterparts. Less than a quarter of the adult female population feel they received sufficient preparation from their parents concerning financial matters.
Read MoreUtilizing a 529 Plan as a Wealth Transfer Tool
529 plans are designed for saving for education and are beneficial since contributions accumulate and grow tax-free as long as withdrawals are used for qualified education expenses. But 529 plans may also be part of a wealth transfer strate
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