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Financial Planning and Senior Independence Navigating elder care and elder care finances in the U.S. can be a challenge even for the most well-prepared households. So what, exactly, is involved in senior financial planning? What steps...

It’s been another volatile year for municipal (muni) investors this year. While generally outperforming U.S. Treasuries, the Bloomberg Muni Index is on track for its second calendar year of negative returns—something that...

Retirement is a major life-changing event, making it essential to consider its emotional impact. Envisioning these years and the uncertainty can be disconcerting for some. And because people are living longer than previous generations...

It’s a tradition here to write about what scares us around Halloween each year. The past few years have offered plenty of material to use in these annual commentaries, but with wars in Israel and Ukraine ongoing, Washington, D.C...

Starting your life together as a newlywed couple comes with many new responsibilities and opportunities, including creating a solid financial foundation for your future. Here are some essential financial planning tips to help you...

Despite headwinds, the U.S. could experience structural changes in the labor market, residential real estate, and inflation as the post-pandemic economy progresses into the New Year. As markets adjust to a new regime, investors should...

National Retirement Security Week, the third week of October, is an observance that encourages you to take control of your financial future. National Retirement Security Week is more than just another day on the calendar. Instead, it's...

Earnings season has kicked off with several of the big banks and a handful of other blue-chip companies having already reported results for their calendar third quarters. The key headline this reporting season will be the (likely) end...

Generational wealth involves proactive financial planning, especially when parents or grandparents pass on their wealth to loved ones after they die. Entrusting family members with receiving an inheritance is more than just getting a...

U.S. Treasury yields have seemingly been moving in one direction lately (higher), with the 30-year Treasury yield temporarily breaching 5% for the first time since 2007. The move higher in yields (lower in price) has been unrelenting,...

After a difficult September for stocks, investors are surely ready to flip the calendar to October. That’s the month that kicks off the historically strong fourth quarter. Expecting this pattern to repeat this year is tricky...

A critical part of financial planning that is often overlooked is insurance. Having various insurance policies will provide different benefits to your financial plan, ranging from protection to tax breaks. In fact, insurance is a...

An impressive growth story has propelled India into a major powerhouse across the global economic landscape. Over the last two decades, the country has made impressive strides in reshaping its economy by leveraging its growing population...

Booker T. Washington once said, "Those who are happiest are those who do the most for others." In 2022, Americans gave $499.33 billion to charitable organizations, making America one of the most generous nations in the world. The...

Recent data suggests economic conditions in Europe are deteriorating, removing a key element of LPL Research’s positive view of the attractively valued developed international equities asset class. Previous U.S. dollar weakness...

You’ve probably heard that spring and summer are the best times to buy a new home. It’s true that those seasons tend to be the hottest for the housing market, with people wanting to sell or buy before fall starts. But fall...

The BRIC acronym, without the “S,” was introduced in 2001 by the Goldman Sachs chief economist who highlighted the prodigious growth and investment prospects of Brazil, Russia, India, and China combined. In 2009, Russia...

There has long been a perception that “going green” adds to the cost of doing business. But as more companies of all sizes and in all sectors experiment with environmentally friendly approaches, the evidence is mounting...

Fixed income investors have had a rough time over the last few years. Normally a staid asset class, core bonds (as proxied by the Bloomberg Aggregate Bond Index) have seen negative returns over the last two calendar years and could...

In the world of business, one must navigate through a sea of uncertainties and external factors that can significantly impact the success of any venture. While some aspects of business management are well within our control, others are...

The Federal Reserve (Fed) often uses the Jackson Hole Symposium to announce tweaks in policy. Other central bank leaders are also worth watching as investors try to perceive where rates will be in the coming months. In this piece, we...

Attorneys say that if both you and your ex-spouse feel like you came out of your divorce thinking you gave up a lot, your settlement was probably fair. Maybe, but often your settlement’s results appear only after you live with...

Volatility has returned right on queue as U.S. equity markets continue to pull back from overbought levels. The recent jump in interest rates has proven to be too much too fast for stocks to absorb, especially for the heavyweight and...

It's easy to see how inflation affects your daily life. Gas prices are higher. Electric bills are steeper. Wallets are thinner. But what inflation does to your investments isn't always as obvious. Let's say your money is earning 4% and...

It’s different this time. The four (or five) most dangerous words in investing. We’ll take the risk and use those words here as we break down the recent decision by credit rating agency Fitch to downgrade U.S. government...

Small business owners seeking to purchase or renovate commercial real estate may want to consider the U.S. Small Business Administration’s (SBA) 504 Loan Program. This program provides long-term, fixed-rate financing for small...

Earnings season is mostly behind us with about 85% of S&P 500 companies having reported second quarter results. The high level results aren’t particularly impressive, but if we peel back the onion, the numbers are encouraging....

The economy is doing better than expected, and the markets are responding accordingly. In this piece, we discuss some of the factors that cause us to think the Federal Reserve (Fed) hiked for the last time in this cycle as inflation...

While the future seems brighter than ever for women entrepreneurs, a myriad of financial challenges continue to cast shadows over their journey. The increasing presence and contributions of women-owned businesses to the American...

The first half of the year probably didn’t go the way many fixed income investors had hoped, particularly after the historically awful year last year. It wasn’t a horrible start—more in line with recent...

In recent years, the world has seen a growing interest in electric vehicles (EVs), in part driven by the prospect of tax incentives and credits. In the United States, federal tax credit policies for EVs continue to evolve, making the...

Earnings season is upon us as some banks and a small handful of other blue chip companies have already reported results for their quarters ending June 30. The results on the surface probably won’t offer much to write home about...

There are strategies out there that could save you thousands of dollars in taxes, but you probably won't ever hear about them unless you work with an experienced professional.The Deferred Sales Trust is one of those. It isn't well...

As the world becomes increasingly interconnected, more and more investors are considering adding international investments to their long-term asset allocation plan.Here are five significant reasons why investors should consider...

The long dormant capital markets have recently begun showing signs of interest from institutional investors and deal makers anxious to bring companies to market. While activity remains muted at best, expectations are focused on 2024,...

Over the last 15 years, investment-grade bonds have modestly outperformed Treasuries, making them an attractive option for investors seeking stable returns in their fixed-income portfolios.But how many investors can articulate the...

On June 7th, the heavy smoke from more than 400 Canadian wildfires was responsible for the air quality in New York City to be deemed the absolute worst in the world, as smoke was covering much of the eastern United States. In fact,...

We know it’s old news at this point, but on June 8, 2023, the S&P 500 entered a new bull market. After such a strong rally off the October lows, this young bull probably needs a breather. A look at the charts suggests this market...

Despite relatively low mortgage rates and dreams of bidding wars, multiple offers and all-cash closings above asking-price, would-be-home-purchasers should be cautious about putting too much money into real estate. While some might...

As the economy is likely downshifting, investors should take heed that the Federal Reserve’s (Fed) current stance is eerily similar to early 2007.  During that time, the Fed held a tightening bias since they believed the...

According to the Federal Emergency Management Agency (FEMA), just one inch of water can result in up to $25,000 in damage.Did you know that even if you don’t live in an area considered to be at high risk for flooding, your home...

While the house of your dreams is being built, you should insure the structure and its contents. If you don't, you'll be exposed to unnecessary risks like fire or adverse weather that could damage or destroy your partially completed...

The Federal Reserve (Fed) meets this week where it is largely expected to not raise short term interest rates for the first time in 15 months. However, Fed messaging has been all over the place in recent weeks. While some Fed...

Scammers are one of the biggest unseen threats out there, and they are especially dangerous to the most vulnerable—the elderly population. In fact, more than $1.7 billion was lost in 2021 among the sixty-plus age group, a 74...

Stocks have had a nice run, but at higher prices, the bar for further gains gets higher. We have recently made the case in this publication that there are a lot of reasons to expect the market to go higher between now and year end. But...

The mega-cap technology companies have powered the broad market higher this year. In fact, the 8.1% gain in the S&P 500 year to date has been driven entirely by six mega-cap stocks: Apple (AAPL), Microsoft (MSFT), NVIDIA (NVDA), Meta...

As I pulled over the other day to let a fire truck pass, I had an interesting thought – firefighters and financial professionals actually have quite a bit in common.It also made me think: How many firefighters are there in the...

Economists like to remind us there is no such thing as a free lunch. In investment parlance, that just means all investments carry risk—even cash. And the big risk with cash is reinvestment risk. That is, while short-term rates...

What is a generation-skipping trust? By definition, a generation-skipping trust is any trust having beneficiaries who belong to two or more generations below the grantor (i.e., "skip" persons). More specifically, a generation-skipping...

First quarter earnings season is nearly complete, and it has caused us to regret titling our earnings preview commentary on April 10, “Malaise Continues.” While the “better than feared” label fit the past couple...

What will you look for as you approach your "golden" years? Sunshine and the beach at your feet, or colder climates with your favorite cross-country skiing course outside your door? An affordable condo on the golf course with room for...

Much has been written lately about the threats facing the reserve currency status enjoyed by the U.S. dollar. “De-dollarization” headlines appear on a near-daily basis, suggesting the dollar’s reign is in looming...

Domicile is an important concept in determining one's residency status for tax purposes. Simply put, a domicile is a person's permanent home and the place to which they intend to return whenever they are away. The failure to abandon...

“Sell in May and go away” is probably the most widely cited stock market cliché in history. Every year a barrage of Wall Street commentaries and stories in the financial press floods in about this popular, but overused...

As a business owner, you may have heard about the recent failures of Silicon Valley Bank and Signature Bank. These two events highlight the importance of diversifying your cash holdings and exploring bank alternatives for operating...

Investors use various analogies to describe the importance of small businesses in the domestic economy. Some refer to the small business sector as the backbone or the lifeblood of the economy.  At this current stage of the cycle,...

Real estate investing and development is a complex and often risky endeavor. Investors and developers must be able to understand and embrace risk in order to be successful in this field. However, it is not always easy to judge risk...

The commercial real estate (CRE) market has recently captured the spotlight after being flagged as the next potential shoe to drop following last month’s banking turmoil. While rising rates have weighed on financing costs and the...

Baby Boomers — those born between 1946 and 1964 — hold about $20 trillion in wealth.1 Over the next few decades, many Boomers may transfer this wealth to their Gen X, millennial, and Gen Z children, perhaps incurring a...

First quarter earnings season kicks off this week with some big banks reporting toward the end of the week. In some ways this quarter’s earnings season will probably be déjà vu all over again—earnings declines and...

What is a standby trust?A standby trust is a separate legal entity that you create to own property for you (like a house, boat, or mutual fund shares). It is a tool you can use to give your trustee (the person you name to run the...

Financial markets and the Federal Reserve are reading from two different playbooks. Who is right? The markets are pricing in several rate cuts by the end of this year, while the Federal Reserve communicated more rate hikes with an...

Most types of financial accounts allow you to designate a beneficiary, from checking and savings accounts to life insurance policies, 401(k)s, IRAs, pensions, and trusts. But when was the last time you looked at your beneficiary...

A lot has changed in the past few weeks, both in terms of expectations for interest rates and lost confidence in the health of the banking system as a result of the sharp rise in interest rates that has led to some things...

Land a great new job? Awesome. Now is the perfect time to think about your 401(k) and retirement plan, whether you had one before or not. Saving for retirement is important at all ages, so don’t let this opportunity fall to...

The Federal Reserve (Fed) has a history of raising short-term interest rates until something “breaks.” Considering the Fed has raised rates from a near-zero level to 4.75% (upper bound) over the course of only one year, it...

What are the tax consequences of business formation, in general? When starting a business, you must consider a number of factors. One very important factor is taxation. Although business tax planning is a complicated area, the first...

Last week did not play out how we anticipated. Coming into the week, it was all about Federal Reserve (Fed) Chair Jerome Powell’s congressional testimony and the February jobs report. Instead, we got a shockingly fast collapse of...

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances, include:If you have income from working in retirement.If...

Most types of financial accounts allow you to designate a beneficiary, from checking and savings accounts to life insurance policies, 401(k)s, IRAs, pensions, and trusts. But when was the last time you looked at your beneficiary...

Suggesting an economy makes “no landing” makes no sense. Analogies eventually break down, especially this one. Economic activity does not stop like an airplane eventually does, but rather the economy will settle into a...

Investing in U.S. stocks and bonds is a popular way for individuals and institutions to grow their wealth and generate income. However, it is important to consider the impact of taxes on these investments before and after making them....

While concerns about the debt ceiling have been increasing, markets, businesses, and the economy are likely to see only minimal impact until we are days, or maybe a few weeks, from the “x date,” the date on which the...

Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged...

According to the National Association of Realtors (NAR) 2022 trend report, 19 percent of recent homebuyers were single women, in contrast to 9 percent of single male homebuyers. Why are so many more women buying homes of their...

Markets have adjusted to several changes this year. The pace at which inflation has cooled is slowing. The market has started to believe the Federal Reserve’s (Fed) “higher for longer” message. The bar for earnings...

As investors seek to insulate their portfolio from rising inflation and the bumpy stock market, many are turning to Series I savings bonds (I bonds). The current interest rate is 6.89% for I bonds purchased November 1, 2022 through...

Soft landing or no soft landing, that is the question, with all due respect to William Shakespeare. But while this may be the most commonly asked question these days, it may not be the most important or the toughest. That honor goes to...

An offshore trust (sometimes called a foreign trust) is a trust that is established in a country other than the United States. Most people set up an offshore trust to try to protect their assets against present or future creditors....

Investors got more excited about international investing late last year. Some of that was chasing better returns, as developed international equities solidly beat the U.S. over the last three months of 2022. Some was the increased...

The national debt gets all the headlines, but what about corporate debt?

The script has been flipped in 2023. Last year’s underperformers have turned into outperformers this year, driving the S&P 500 Index up over 5% this month. The pace and composition of the rally have left many investors skeptical...

Even before your children can count, they already know something about money: it's what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children...

The latest episode of the debate between stock market bulls and bears has gotten more interesting. For every valid point from one side, there’s an equally compelling argument on the other side. Perhaps the best reason for the...

People say things like, “When I retire, I am going to be happy,” or “When I don’t have to work anymore, I will be happy.” The truth is, if you don’t think you can be happy until you retire, you...

Fourth quarter earnings season is underway and probably won’t bring much good news. Lackluster global growth, ongoing profit margin pressures from inflation, and negative currency impacts are likely to translate into a...

Whether you're a current business owner or a budding entrepreneur burning with the next great idea, one of the most important steps you can take on your road to success is creating a business plan.Why? A well-thought-out and...

We believe accountability and modesty are among the keys to success in this business. In striving for those qualities, LPL Research has a tradition of starting off a new year with a lessons learned commentary. We got some things wrong...

We work our entire lives and, in the process, we want to make sure that we have planned accordingly for when it is time to retire. Researching the different options out there it can seem overwhelming, trying to figure out which one...

The following content is prepared by LPL Research--2022 was a dizzying year as markets and the global economy continued to find itself out of balance due to the still present aftereffects of the COVID-19 pandemic and the policy...

The vast majority of Americans need long-term care. According to the U.S. Department of Health and Human Services, 70% of people over age 65 may need some long-term care during their lives.1 Unfortunately, planning for long-term care...

The couple had made every mistake you could: retired too early, spent too much, took on too much house and too much debt. “This is killing me,” Jill told their new advisor (me), as she burst into tears.Jack and Jill left...

The Federal Reserve (Fed) wrapped up its last Federal Open Market Committee (FOMC) meeting of the year last week, where it hiked short-term interest rates for the seventh time in as many meetings, taking the fed funds rate to 4.5%...

Philanthropy today is different than it was in the past. It was once common for donors to distribute their wealth through smaller grants to numerous organizations. Over time, best practices for charitable giving have evolved, and...

Despite the S&P 500 Index starting December with five consecutive days of losses, we think December is down but not out. December often starts slow but historically has been a strong month. There are also some potentially supportive...

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached.That's where financial planning...

Economic and corporate data support the initial strong reads on holiday retail sales despite the macro headwinds, reinforcing the idea that today’s consumer is in a better position than usual at this point in the business cycle....

How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of work, gotten the kids out of school and looked forward to it from the moment you made the final...

The popularity of 401(k) plans today is because they offer certain tax advantages to employers and employees. For employers to qualify to have 401(k) plans, they must meet specified fiduciary responsibilities. Managing these tasks is...

Recent inflation data has tempered expectations for future Federal Reserve tightening, including a potential peak in the terminal rate near 5.0% in May or June of 2023. While the market has welcomed this news, history suggests the path...

This holiday season, consider combining investment gains with social good via an approach called Impact Investing. This can include a focus on Environmental, Social and Governance investing (ESG), or Socially Responsible Investing (SRI)...

The growth vs. value debate has been pretty one-sided in 2022, with value outperforming growth for a sustained period for the first time in almost 15 years. However, the debate is heating up as investors begin to consider whether the...

Most couples still make decisions together when they give money to charity – but it’s becoming less common...The Big IdeaWhile most U.S. couples make charitable giving decisions together, the share of joint decision-makers...

Midterm elections are upon us, with Election Day on Tuesday. Republicans are strongly favored to win the House, and the Senate is roughly a tossup. We believe either outcome would be market-friendly, although the bigger market driver...

State-mandated retirement plans result from legislation requiring employers to provide their employees with retirement savings opportunities. Businesses can comply with these laws by enrolling their employees into a state-sponsored...

In unpredictable economic times, many donors may be wary of making large donations of cash, even to charities they would otherwise like to support. Nonprofits are therefore increasingly encouraging donors to make gifts of non-liquid...

With a series of important economic indicators suggesting the economy is declining and inflation is finally decelerating, albeit very slowly, markets are beginning to factor in that the Fed may soon transition to a less aggressive...

First, a recession has an important technical definition that’s different than what many people think. Earlier this year when Gross Domestic Product (GDP) growth was negative, many were under the false impression that two consecutive quarte

There are two fundamental ways that you can profit from owning bonds: from the interest that bonds pay, and from any increase in the bond's price. Many people who invest in bonds because they want a steady stream of income are...

After dropping the benchmark federal funds rate to a rock-bottom range of 0%–0.25% early in the pandemic, the Federal Open Market Committee has begun raising the rate toward more typical historical levels in response to high...

The LPL Research Strategic and Tactical Asset Allocation Committee is increasing its recommended interest rate exposure in its tactical allocation from underweight to neutral. Now that interest rates have moved substantially higher, we...

Inflationary dynamics continue to surprise to the upside, and markets now expect the Fed to pursue one of its most aggressive rate hiking campaign in years. U.S. Treasury yields continue to move higher as well. We think we’ve...

On May 4th, the Federal Reserve raised interest rates by 50 basis points and scaled back other pandemic-era economic supports, as it stepped-up its fight against the highest inflation we’ve seen in 40 years.“Inflation is...

Bonds may not be as glamorous as stocks or commodities, but they are a significant component of most investment portfolios. Bonds are traded in huge volumes every day, but their full usefulness is often underappreciated and...

Federal Reserve Chairman Jay Powell reiterated his warning that getting inflation under control will require some pain. Powell is likely making these warnings based on the arcane, clunky relationship between inflation and unemployment....

The difficult 2022 for stocks may not get much easier because as we now wait for better news on the inflation front, we have to contend with a seasonally weak month of September. While we got some welcome news in Friday’s jobs...

For many, autumn is the best time of year. The return of cool breezes, comforting foods, and pumpkins can be invigorating. It’s also a bookmark of sorts, especially for your finances—a perfect time to take stock of your...

Financial planning is unique for each person; no two financial plans look the same because everyone's life and personal goals are different. Regardless of what your goals are, financial planning can help you work towards achieving them...

A 401(k) in-plan Roth conversion (also called an "in-plan Roth rollover") allows you to transfer the non-Roth portion of your 401(k) account into a designated Roth account within the same plan. The amount you convert is subject to...

If the thought of reviewing your finances with the help of a financial professional strikes more fear into your heart than giving a public speech, you are not alone—two in every three Americans report regularly feeling stressed...

The financial professional and financial planning firm you pick to manage your assets and advise you on key financial decisions can affect your retirement and other major financial goals more, maybe, than even you. So it’s...

Investors cheered the two better-than-expected inflation reports last week, pushing the S&P 500 to 16% above its June 16 low and only 11% below its all-time high. After this rebound, the key question investors are asking is whether...

QuestionI made after-tax contributions to my 401(k). When I retire, can I roll that money into a Roth IRA tax-free?AnswerYes.After-tax funds can be segregated from other funds in the account and transferred directly to a Roth IRA. In...

Peaks and valleys of the market probably give you fits about your investments in retirement savings accounts. Nobody can tell when Wall Street’s ups will peak and its lows bottom out, but you can protect yourself with patience...

The market pundits remain intensely focused on the question of whether the U.S. economy is in or about to enter recession, so we thought a piece on what a recession might mean for the stock market would be of interest. While...

Qualified cash or deferred arrangements (CODAs) permitted under Section 401(k) of the Internal Revenue Code, commonly referred to as "401(k) plans," have become one of the most popular types of employer-sponsored retirement plans.How...

Stocks have been unable to make up much ground since the June 16 lows, with a bear market rally amounting to only around a 4.3% gain in the S&P 500 Index since then (as of July 1). After the more than 6% rally the week of June 24 and...

For the past year, supply-related problems contributed more to inflation than demand-related imbalances, but that may be changing soon. There are at least three factors that could change the course of inflation. First, the improvement...

Money is always an emotional subject, but often when our emotions get involved with our investments we will make wrong decisions. And that can be a costly mistake.Keeping emotions and investing separate seems almost impossible for many...

Tax aware investing focuses on optimizing your returns by reducing your tax liability as much as possible. In theory, this investment strategy has the potential to help you earn more money on your investments, but you need to be aware...

If you own a business and want to diversify your assets by investing in stocks, today’s online brokerages make trading fairly easy. However, stock investing is risky, especially in a volatile market. Here are four key...

Whether to invest a large amount all at once or over a short period of time (lump-sum investing), or to invest gradually over a longer period of time (periodic investing) is an investment strategy decision you'll have to face if you're...

Stocks have been unable to make up much ground since the June 16 lows, with a bear market rally amounting to only around a 4.3% gain in the S&P 500 Index since then (as of July 1). After the more than 6% rally the week of June 24 and...

2022 has been rough all-around for the American consumer. Not only are we battling decades-high inflation, but investors’ portfolios are off to one of the worst starts to a year in history as we near the halfway point. Our...

The bear market that started on June 13 has left the S&P 500 Index 23.5% below its January 3 high. After the initial positive reaction to the Federal Reserve’s first 0.75% rate hike since 1994 and tough talk on inflation,...

In generalPerhaps you are self-employed or own a small business. Or, you may be directly involved in running a corporation or a tax-exempt organization. In any of these cases, you generally have the option of establishing a retirement...

A recent survey revealed that four out of every 10 Americans don't believe they'll ever be able to afford to retire.1 But this pervasive belief may be too pessimistic.Even if your retirement account balances are behind schedule, there...

The New York State Senate passed the NY State Secure Choice Retirement Savings Plan legislation in June 2021, taking effect immediately. In short, the New York State's Secure Choice Savings plan is a self-sufficient retirement savings...

This year has been tough for investors, not just because stocks have fallen but also because bonds have not helped mitigate those losses as they have historically done. Below we discuss the outlook for diversified portfolios of stocks...

If you’re retired, there’s good news in that you’ll probably live longer and perhaps better than your parents and grandparents did. The bad news: You’ll live a longer and perhaps more expensive life, too.You...

Many pundits are issuing recession warnings and saying the economy is heading for a hard landing. Amid the cacophony of voices, we think the economy is slowing just like central bankers want but not shrinking. Further, we argue that a...

At the risk of sounding cliché, making the case for stocks to stage a second half rally back to the prior highs requires investors to see through some heavy cloud cover. If you prefer another market cliché, it’s times...

Core bond investors have experienced the worst start to the year ever. However tough this year has been so far though (and it has been tough), the potential for future returns has improved meaningfully, in our view. Starting yields...

An economist explains how the Federal Reserve withdraws stimulus from the economy