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Category: Year-End Financial To-Do

23 posts categorized as "Year-End Financial To-Do"

Year-End Financial To-Do: 2020 is Over, Get Ready for 2021

Dec 31, 2020

Now that we’re literally on the cusp of the dawn of a new year, here are a handful of reminders to put the wraps on our year-end blog series. We hope you have found these useful and encourage you to take note and take action on the items that are pertinent to your financial situation.

RMDs Are Back in 2021
The one-year suspension of required minimum distributions (RMDs) ends today.

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Year-End Financial To-Do: Review Your Estate Plan

Dec 29, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

So, you’ve made it through Christmas and the year of COVID-19. We’re almost to New Years and hopefully better times. That said, life’s responsibilities remain, and it’s a good idea to review your estate plan should something happen to you or a loved one.

First, make sure you have a plan in place! It’s estimated that over 50% of adult Americans do not even have a plan in place.

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Year-End Financial To-Do: Review Coronavirus-Related Distribution Conditions Before It’s Too Late

Dec 18, 2020

By Theresa Fry, Senior Vice President and Manager, IRA’s, Retirement  & Education Planning

A key feature of the CARES Act was improving access to retirement account assets for those who suffered adverse financial consequences because of the coronavirus COVID-19 – access that otherwise would not have been available. As a result, in 2020 coronavirus-related distributions were introduced.

Coronavirus-related distributions are available to you if:

  • You,

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Year-End Financial To-Do: Review 529 Plans and Education Expenses

Dec 15, 2020

By Debbie Placke, Vice President and Manager, Financial Planning Strategies and Marketing


As 2020 comes to an end, the coronavirus pandemic has proven devastating both in health and finances for many Americans. Countless individuals are looking forward to 2021 with the hope that it will bring with it more peace and stability. Now is the ideal time to review aspects of your finances that are not always front and center.

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Year-End Financial To-Do: Decide Whether to Take or Defer Gains and Deductions

Dec 10, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

As a vexing 2020 comes to an end, it’s a good time to review your tax situation for opportunities to pay less taxes or pay taxes at a lower rate. There has been a significant amount of volatility in the markets this year, so consider reviewing your portfolio, other investments and your projected income to see where you may find yourself on the tax bracket spectrum.

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Year-End Financial To-Do: Review How Recent Retirement Plan Legislation Might Provide New Opportunities

Dec 8, 2020

By Edward “Ed” V. O’Neal, Senior Vice President and Manager, Retirement Plans

I’m not sure anyone would disagree that the past 12 months have been stressful and a whirlwind, but they’ve also been eventful. This has been particularly true with all the recent regulatory changes impacting retirement plan accounts. In fact, the last 12 months have brought some of the most significant changes to retirement plan law in more than a decade.

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Year-End Financial To-Do: Making Annual Gifts to Family and Unique Charitable Giving Opportunities for 2020

Dec 3, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Many love the feeling of a satisfying gift to a loved one. For those that may face a potential federal or state estate tax, making annual gifts to loved ones can feel even better because it may keep possible tax dollars away from the government. Under federal law, every person can gift up to $15,000 per person per year.

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Year-End Financial To-Do: Evaluate the Tax Loss Harvesting Strategy

Nov 30, 2020

By Chris Whiting, CFP®, Executive Vice President, Director of Sales and Marketing

With the market’s volatility during 2020, you may have some positions that are currently valued below what you paid – a situation known as an “unrealized loss.” A good practice to evaluate before year end is to check to see if you have positions such as these that may be sold to offset gains you’ve taken in other securities,

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Year-End Financial To-Do: Review and Rebalance Your Portfolio in this Post-Election Environment

Nov 24, 2020

By Bruce Buerkle, CFA, Senior Vice President, Manager Securities Research Support

As we close in on the final weeks of 2020, we are faced with many challenges that will still be with us as we turn the calendar. We continue to navigate through the coronavirus pandemic and the vast economic problems resulting from measures taken to keep us safe. The markets have been thrown numerous curveballs this year and have been quite volatile.

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Year-End Financial To-Do: Develop Your Long-Term Care Plan

Nov 17, 2020

By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance

November is Long-term Care Awareness Month
Long-term care needs will vary from person to person, but according to HHS’s Administration on Aging, someone turning 65 today is 70% likely to need some type of long-term care in their remaining years.  While a little less than one-third of today’s 65-year-olds may never need long-term care support,

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