This Month with Taylor Financial Group: October: Market Update, Beneficiary and Estate Planning Month, COVID-19 update, all this and more in the monthly newsletter!
Posted on October 13, 2021
CURRENT STATE OF THE MARKET (NEW)
Weekly Market Commentary 10.11.2021
Unemployment Falls to 4.8%; U.S. Trade Deficit Hits Record
Published by The Carson Group, LLC
For the second consecutive month, the U.S. job market created far fewer jobs than expected. September’s report showed only 194,000 jobs were created, missing expectations by nearly 300,000. A deeper look at the data shows the report wasn’t as bad as indicated by the overall number…Read More
OCTOBER IS BENEFICIARY AND ESTATE PLANNING MONTH (NEW)
A Widow’s Worst Nightmare
Article Provided by Taylor Financial Group, LLC
When someone dies without a will, the law of the state they died in determines how assets will be dispersed. Distribution formulas vary according to state law, but they are usually some variation of the following…Read More
10 Basic Questions of Estate Planning
Article Provided by Taylor Financial Group, LLC
Estate planning is complex and because it involves facing your own mortality, it can be a difficult subject to address. While you most likely have a will, this simple document may not be sufficient to manage your estate and efficiently pass on assets to your heirs. Even if you have an estate plan that you’re confident in, it’s a good idea to review that plan in light of changes resulting from the Tax Cuts and Jobs Act of 2017….Read More
What Issues Should I Consider When Reviewing My Estate Planning Documents?
Checklist Provided by Taylor Financial Group, LLC
Estate planning is a critical aspect of the financial planning process. To help guide your document review, we have created this checklist. It covers key considerations regarding the most common estate planning documents, including, Wills, Living Trusts, Irrevocable Trusts, Powers of Attorney, and Living Wills…View Checklist
MEDICARE OPEN ENROLLMENT (NEW)
Medicare Open Enrollment – October 15th – December 7th
If you turned 65 in 2021, you are probably thinking about enrolling in Medicare (if you haven’t already). If you haven’t started Social Security yet, now’s the time to apply for Medicare. Medicare has an open enrollment period each year from October 15th to December 7th. Your coverage will begin on January 1 (as long as the plan gets your request by December 7th).
Determining when you must enroll in Medicare can be complicated. Depending on your situation, you may be automatically enrolled or you may have to proactively enroll. If you must follow the Initial Enrollment Period rules, there is the added complication of determining when coverage starts. We recommend using a consultant when enrolling in Medicare…Read More
UPCOMING WEBINAR (NEW)
Make the Right Medicare Plan Decision for 2022
Thursday, November 4th at 4:30 pm EST
Medicare Annual Enrollment Period (AEP) starts October 15th. It’s your only chance to change plans for 2022, so making the right decision is crucial.
Here is what Nancy Schwartz, Medicare Coach, will address:
THE PROPOSED BILL INCLUDES TAX INCREASE FOR HIGH EARNERS (ICYMI)
Proposed Bill Includes Tax Increases for High Earners, Retirement Account Changes
Taylor Financial Group, LLC Announcement
The Democrats on the House Ways and Means Committee released a draft of their proposed tax plan, which includes changes to corporate, personal and other taxes, as well as retirement plans – though Social Security would be untouched. The proposals are part of a $3.5 trillion domestic investment plan, with many of the tax and retirement account changes designed to help pay for that plan. And though the changes at this point are nothing more than proposals, it’s still worth breaking down what they would mean for Americans. The short version: Mostly good news for the ultra-high-net-worth, and some bad news for married couples…Read More
Becoming hyper-focused on only one aspect of a problem is pretty much never a good approach. A racecar driver who only focuses on speed and ignores strategy won’t win races, at least not many of them. A carpenter who only hammers in nails won’t build strong structures.
Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner We’ve all asked ourselves whether it’s too early to retire (usually after a particularly challenging commute or dealing with a difficult client). You may have even gone so far as to take a sneak peek at your account statements …
By Debra Taylor, CPA/PFS, JD, CDFA™ Dear Friends, For investors, it may feel like déjà vu all over again as inﬂation and the Fed dominate market headlines on a day-to-day basis. After all, the numerous market swings last year were driven by ever-changing expectations around the Fed – …