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Given the number of cons, seeking alternative methods to transfer a home to beneficiaries efficiently is suggested. If probate avoidance is a goal, a revocable trust or a transfer on death deed should be considered.
As you prepare for retirement, whether that’s in 25 years or two months, it’s important to keep your eye on what’s important. Develop strong habits (but not too strong!) early on for optionality that works in your favor.
Automation isn’t just for short-term needs. Many retirement plans allow you to automatically increase your retirement savings by 1% each calendar year. This small adjustment can often go unnoticed, but before long, you will have significantly increased your retirement account without lifting a finger!
Bedel Financial has organized a fun and informative scavenger hunt celebrating Women's History Month. This challenging activity will send participants to various buildings and sites across downtown Indianapolis in search of monuments, paintings, statues, and more, highlighting some of Indiana's most influential women.
In late December of 2022, Congress passed, and President Biden signed the $1.7 trillion omnibus spending bill. One part of the bill is the SECURE 2.0 Act, which expands on the original SECURE Act of 2019 by enhancing many features related to investors.
Any health diagnosis is typically unexpected and can turn our world upside down. Understanding the financial impact can alleviate anxiety and allow you to focus your energy on the days ahead.
The decision on how to structure your business can be an arduous process. If this process becomes too cumbersome, consider speaking with your financial advisor to get their input and loop in an attorney when needed.
When it comes to finances, there is more than meets the eye. If you catch yourself green with envy over someone else’s apparent financial status, take a step back and take stock of your successes.
To successfully transition wealth to the next generation, it takes open communication between G2 and G3, agreed-upon family financial values, and perspective on where it all began.
Money does not buy happiness, but I believe that it can buy peace of mind. One way your money can do so is through an emergency fund. Having that box checked gave me permission to live a little.
The PSLF program hasn’t had the best reputation, but the recent changes should make it more user-friendly and accessible to the people it was designed to help.
When Harry met Sally, they bought a wonderful home for $50,000. They loved their home, neighborhood, and the fond memories created there. However, when Harry passed away, Sally decided it was time to move. Now, Sally is left wondering what the tax consequences might be.
Retirement is a numbers game. Know your numbers and turn in your retirement notice with confidence. If you don’t feel comfortable running the numbers yourself, hire a financial planner to do the work for you.
When it comes to your financial future, trial and error can be expensive. Your best bet is to seek out a financial planner who can answer your questions and help you think about the questions you don’t know to ask.
Creating a thorough inventory of financial items and documents will take some time, but just as businesses have succession plans in the event leaders cannot serve, families must also take a similar approach.
Dreaming of retiring in your 30’s or 40’s but not sure that could be your reality? The FIRE movement (Financially Independent Retire Early) is increasing in popularity, but there are definite pros and cons to the movement. Be sure you’ve critically assessed your financial situation, and that your financial plan is structured to provide you the means for early retirement. We have the details…
Long-term care reduction options can prove costly. Why are premiums increasing? What does each benefit option mean?
There is no right or wrong way to manage personal finances as a couple. There are several budgeting approaches to consider. Be open and honest about your status and hash out a plan together.
Only you will know if and when it's the right time to hire a financial professional. There's an advisor out there for everyone, whether you're looking for a one-time financial plan or a long-term, comprehensive relationship.
There is always fluidity with tax proposals. However, it is best to have a plan in place for whatever uncertainty may lie ahead. Review your options with your financial and tax advisors.
Do not put your financial plan on the shelf and carry-on as usual. It's essential that you engage a qualified wealth advisor to help develop your financial plan.
It’s easy for wasteful spending to go undetected, especially if you’ve developed any of these bad habits. You work hard for your paycheck, so make sure you’re spending it in the right places. We cover some of the easiest places to spend more money than you need to. Read on and then celebrate Financial Planning Month by reviewing your budget for wasted money.
High school graduations are just around the corner and in the past year you’ve likely spent a lot of time helping your child determine their field of study as well as the right college.
Pensions are quickly becoming a thing of the past, but if you still have one it’s important to understand your payout options once you retire. We explore the pros and cons of both options so you can make an informed decision.
Simon Pagenaud might have taken this year’s checkered flag at the Indy 500, but you can still take the flag for your finances. With the support of a team and flexibility for those unplanned things that can throw a monkey wrench in your plans, you could find yourself steering your finances into the winner’s circle!
Heart disease, cancer, arthritis, and diabetes are all examples of chronic illnesses. One out of every two Americans has some type of a chronic condition. While this can be a physical and mental challenge, it can also have a financial impact.
It might not seem like training for the Mini-Marathon and planning for your financial future have anything in common. But they have more similarities than you might think. Both require a detailed plan and input from experts that can help you get a leg up on the competition.
For some, the 4th quarter of 2018 might have seemed like a tough storm to weather when it came to the stock market. It can be difficult to batten down the hatches and ride out a financial storm, but with proper planning you can help to ensure your financial home withstands any bad weather that might come its way. We have eight tips to help you survive a financial storm.
This Valentine’s Day, switch it up and give the gift of financial security. Read our tips for the best Valentine’s Day gift.
There are a plethora of tools that can help you streamline your finances – from automatic transfers to bill paying services to auto escalation for retirement accounts. Taking advantage of this technology can go a long way in helping you meet the financial goals you’ve defined, setting you up for continued success in the future.
Who’s your financial role model? It makes sense to turn to experts for advice and guidance when it comes to things like investments, retirement planning, and tax strategies. But what many might not realize is that each of us has someone who shaped our financial literacy and perception of money at an earlier stage in life – be it good or bad. Kate shares three money lessons she learned from her financial role model – her Dad – and demonstrates the importance of playing that role in a child’s life, shaping their future perception of how to handle financial decisions.
Investment lessons learned during a trek up Mount Kilimanjaro?? It might sound crazy, but…Follow along as Bill discusses the lessons he learned during his climb up Mount Kilimanjaro and discover how they likely apply to your investment portfolio.
Do you have a vision for how you will spend your retirement? If you have a spouse or significant other, does it match theirs?
If you are 65 years old, you have a 70% chance of needing long-term care. Can you afford $90,000 per year? If not, you may want to include LTC insurance in your financial plan. Or, you can take the chance of being in the lucky 30%!
It’s winter in Indiana! Hit a pothole hard enough and you might end up with a pricey bill for the repair. Or, what if your furnace dies when ...
Everyone knows an annual physical is recommended for most adults. Seeing your doctor on a regular basis helps identify potential health problems before they become serious. Your investment portfolio needs an annual checkup too!
There are multiple reasons to do your financial planning with your children and grandchildren in mind. Maximizing the transfer amount by minimizing taxes is the first reason that generally comes to ...
Everyone wants a great future! Then why don’t people plan? Many do nothing and leave their future well-being purely to chance.
According to the Bureau of Labor Statistics, over 250,000 professionals call themselves financial planners or advisors. When looking for advice, how do you determine who is qualified to provide you the personalized plan that can achieve financial independence?
If you are over age 60, you probably spent a few thousand dollars or less for your wedding, including all the trimmings.
Your investment portfolio must reflect what your money needs to do for you. If it doesn’t, you may be taking too much risk with your investments or, on the other hand, you may be missing out on important growth.