Blog

Pop Quiz! - Tax Planning Basics

David L. Russell

Tuesday, January 26, 2021

Pop Quiz!—Tax Planning Basics Q: What’s the difference between a tax credit and a tax deduction? A: A tax credit reduces your tax dollar for dollar—that is, a $1,000 tax credit actually saves you $1,000 in taxes. By...

What Retirement Plans Are Available?

David L. Russell

Wednesday, January 20, 2021

What Retirement Plans Are Available? When securing your financial future, saving for retirement usually is a no-brainer. But between an IRA, Roth IRA, 401(k), 457(b), SEP IRA, and the other retirement vehicles, how can you know which...

The Importance of Financial Wellness

David L. Russell

Thursday, December 31, 2020

Financial wellness, like physical wellness, isn’t something you should ignore. Instead, it's a critical concept for anyone who wants to be knowledgeable and confident about their finances, and in fact, financial wellness is so...

The Elusive Buy-Sell Strategy of Perfect Timing

David L. Russell

Thursday, December 31, 2020

Buying low or selling high is a prudent strategy for most investors, an effort to maximize returns. But buying lowest or selling highest is an elusive strategy, one that is difficult to execute and that may lead to lower returns and...

How the Winter Solstice Can Impact Your Budget

David L. Russell

Sunday, December 20, 2020

Last year, the average American spent nearly $1,000 per person on holiday gifts, up from about $885 per person in 2018.1 Though the COVID-19 pandemic continues to weigh on the retail sector (and many Americans' bank accounts), some...

End of Year (EOY) Deadlines Checklist

David L. Russell

Wednesday, December 16, 2020

2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything,...

More than most years, it’s hard to look ahead to the next year, to 2021, without looking back at 2020. A global pandemic, a massive economic collapse, a bear market, a surprisingly sharp reversal, a hotly contested election...

Ready to Retire? How to Know for Sure

David L. Russell

Wednesday, December 2, 2020

Retirement is an exciting time for many, and the reward for years of hard work. While there is no set age for retirement, it is important to be prepared before you make the leap, so that you enjoy your retirement and financial...

As the end of the year approaches, it's time to consider strategies that could help you reduce your tax bill. But most tax tips, suggestions, and strategies are of little practical help without a good understanding of your current tax...

Carolyn Russell of Russell Wealth Management joined her daughter Rachael Russell on the Xtreme Hike to benefit the Cystic Fibrosis Foundation in Vail, Colorado on September 19, 2020. It was a 20 mile hike. The Russell family has three...

When you first considered investing, it probably seemed like a good idea to focus heavily on what worked best for you from the beginning. If stocks from a particular company brought you high yields, why not double up on your original...

It is only natural that investors would want to find some way to sit out bear markets and get back just in time for the next bull run. The belief that you can foresee the direction of the stock market is a seductive one. Some investors...

The holiday season is just around the corner and many charitable organizations are in desperate need of donations to help provide the vital services needed in the community. You are most often inundated with a number of charitable...

Many millennial households are on their way to building substantial wealth. They are saving 20% or more of their paychecks, investing in 401(k) accounts, and keeping their debt levels low. But others, even those with good educations...

In recent years, the cost of higher education has risen well ahead of inflation. At some private colleges and universities, the net cost for one year’s full-time education, including tuition, fees, and room and board, tops $40...

The more money that you can save when you are working, the easier it should be for you to retire and enjoy your golden years. Unfortunately, Social Security may no longer provide a sufficient income to live on during retirement. To...

Members of Generation X, those born between 1965 and 1980, largely grew up before the internet and cell phones.1 This generation prides itself on self-reliance and entrepreneurship, boasting membership as diverse as Jeff Bezos, Serena...

Have you ever wondered how much life insurance is “enough”? One general rule of thumb says that you should buy an amount equal to five to seven times your annual income. Sure, it may be a reasonable guideline, but this...

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...

As the earliest baby boomers begin to enter retirement, the various income guarantees and other living benefits offered through variable annuities (VAs) are gaining in importance. Yet before you rush to add a VA to your retirement...

Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs...

September is National Life Insurance Awareness month. And while most of us likely recognize that life insurance provides us peace of mind and security, there may be a few things you don’t know. Life Insurance is Not Just for the...

Should You Buy Your Partner’s Book of Business When They Retire?

David L. Russell

Wednesday, August 26, 2020

You have spent years building your business with your partner, and now, they are getting ready to leave the firm. But that doesn't have to mean that their clients have to leave the firm. Instead, you may want to buy your partner's...

How to Work With a Financial Professional

David L. Russell

Wednesday, August 19, 2020

A flurry of new investment products, the emergence of global investing, the shift from company-funded pension plans to employee-driven retirement plans (like 401(k) plans), and uncertainty about Social Security have all contributed to...

Retiring Business Owners - Plan for Succession

David L. Russell

Wednesday, August 12, 2020

If you’re a small business owner, you’ve invested a great deal of time and effort into building your company. With day-to-day demands, it may be difficult to imagine your eventual transition into retirement. Yet, if you...

Getting Started: Establishing a Financial Safety Net

David L. Russell

Wednesday, August 5, 2020

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...

The Federal Reserve (Fed) completed its latest two-day policy meeting Wednesday, July 29, and the primary message coming from the world’s most important central bank was a continued commitment to supporting the economy as long as...

Steven and Pamela Jackson, both in their late twenties, have been married for five years. Steven is a customer service supervisor for a newspaper distribution company and Pamela works as a receptionist at a large bank. During the...

Leading economic indicators continued to rebound in June, albeit at a slightly slower pace than in May. Yesterday, The Conference Board released its June report detailing the latest reading for its Leading Economic Index (LEI), a...

You know you want to enjoy your retirement, but getting to that point can feel difficult. Worried that you're not saving enough? Trying to get your spending under control? These problems are common for many people who are trying to...

LPL Financial Research is looking ahead for new ways to face current challenges and prepare for better times. Use our Midyear Outlook 2020 to chart a path to eventual economic and market recovery. Plus, learn how stocks may predict the...

Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully. When you hit a certain age of your life, you...

At a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses while at the same time looking after the needs...

It’s certainly been a wild ride for stocks in 2020. Barely past the halfway point, the year has already brought the worst pandemic to hit the US in over 100 years, an unprecedented government-induced recession as much of the...

What is a Collateralized Loan Obligation (CLO)? Collateralized loan obligations (CLO) are portfolios of leveraged loans, a type of below-investment grade loan usually taken out by more heavily indebted companies. Each CLO is divided...

529 plans can be a great way to save for college, but they're not the only way. When you're investing for a major goal like education, it makes sense to be familiar with all of your options. Mutual funds Mutual funds are an option to...

Because you've worked hard to create a secure and comfortable lifestyle for your family and loved ones, you'll want to ensure that you have a sound financial plan that includes trust and estate planning. With some forethought, you may...

Next Hike We See May Be 2023

David L. Russell

Thursday, June 11, 2020

The Federal Reserve (Fed) completed its third scheduled policy meeting of the year Wednesday, June 10, and continued to signal strong support for the economy, committing to keeping rates near zero until it is confident of a recovery...

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the government has funded a number of initiatives to help small businesses. As you navigate this difficult time, you may want to look into the following...

Some individuals believe that return on investment shouldn’t be the only criterion for how they invest their money. For them, the social impact of investing is just as important – perhaps more important. The history of...