Here are some tips to help investors safeguard personal information when it comes to working with a financial advisor.
What you need to know about new IRS rules for your financial plan
Understanding long-term capital gains taxes when you sell investments
The concept of your domicile is very different from that of your residency Domicile is an important concept in determining…
Reducing your tax liability can literally save you thousands of dollars Tax season can be a stressful time for many…
When working with a Registered Investment Advisor (RIA), investors may have heard the term “custodial relationship.” This refers to a…
Data Privacy and Your Financial Planner Updated January 13, 2023: Data privacy week…
Once you have provided for your own personal expenses and retirement, it may be time to consider how your money…
Introduction After a rough year in the market, it’s rare an investor didn’t experience losses. How you treat those losses…
What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that…
Market downturns, like the one through the first half of 2022, could be a good time to adjust your fund…
Legislation that could benefit people with individual retirement accounts (IRAs) and workplace retirement plans is currently moving through Congress. The…
Homeowners who live in areas affected by hurricanes know that the damage incurred by such storms can be significant. In…
“Money makes money. And the money that money makes, makes money.” Since the beginning of the year, economists and…
The CHIPs and Science Act of 2022, signed into law on August 9, is a bipartisan legislation package that provides…
Did you inherit an IRA? What you need to know about new IRS rules for your financial plan If you…
The IRS has released the 2023 key tax numbers for health savings accounts (HSAs) and high-deductible health plans (HDHPs). The…
A cost-benefit analysis could help determine whether it would be beneficial to pay taxes on some of your IRA assets…
The Health of Social Security: Some Good News and Some Bad News With approximately 94% of American workers covered by…
4 questions to ask if you’re thinking about retiring to Punta Gorda Is Punta Gorda a good place to retire?…
Paying the college Tuition payments made directly to a college aren’t considered taxable gifts, no matter how large the payment….
The Fed Makes the Biggest Rate Hike in 28 Years Implications for investors and markets after the largest increase since…
Could the Price of Oil Hit $250 This Summer? If it does, think higher inflation, lower economic growth and global…
The standard definition of a bear market is when major U.S. stock indices, such as the S&P 500, drop by…
Federal Student Loan Repayment Postponed for Sixth Time On April 6, the U.S. Department of Education announced a record sixth…
Investors are increasingly applying non-financial factors such as environmental concerns, social justice, and governance practices (or ESG) as part of…
According to the Internal Revenue Service (IRS), tax scams tend to increase during tax season and/or times of crisis.1 Now that…
Before Russia stunned the world by invading Ukraine, it was widely believed that the economic ties formed through globalization would…
The headline U.S. unemployment rate fell from 6.7% at the end of December 2020 to 3.9% in December 2021, marking…
After dropping the benchmark federal funds rate to a rock-bottom range of 0%–0.25% early in the pandemic, the Federal Open…
Making a last-minute contribution to an IRA may help you reduce your 2021 tax bill. If you qualify, your traditional…
We know that no matter how calm you are, no matter how long term an investor you are, no matter…
What is the Fed Taper? An economist explains how the Federal Reserve withdraws stimulus from the economy Tapering refers to…
Ballast Advisors is a fee-based financial planning firm. Our financial advisors serving the Twin Cities and Southwestern Florida can help you reach…
A popular tool, the 2022 Key Numbers document is a comprehensive list of tax bracket and deductions information to assist…
You exercise to benefit from your sweat equity in the future, right? Waking up early in the dark mornings of…
Here are some things to consider as you weigh potential tax moves between now and the end of the year….
5 Reasons to Consult a Financial Planner on New Tax Legislation The new tax…
One variable that is hard to plan for in retirement is taxes. There are steps you…
Do you understand how inflation will impact your overall financial plan?…
Charitable donations allow you to give and take—you give money or property to a qualified charity and then take an…
1 in 4 Millennials are “not sure” how their retirement savings are invested. How do you stack up? More Personal…
The first half of 2021 is behind us. As life emerges from the pandemic to a “new normal,” a mid-year…
In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according…
These simple steps might save you a great deal of money and heartache We all make mistakes, and through them,…
Though all economists expect inflation numbers to rise in the near term, there are different views on the potential long-term…
By Paul Parnell “Have you enjoyed your money?” This is a question I often ask my clients. Too often I…
The Markets (first quarter through March 31, 2021) As we closed out 2020, the overwhelming sentiment entering January was that…
The areas might surprise you – and are likely to see prices continue to rise Housing has been on a…
Ballast Advisors was recently featured in St. Croix Valley Magazine’s April/May 2021 issue on our comprehensive financial planning services.
Make sure you protect against disqualifying an individual for services The most effective way to provide a great life for…
9 Motivational Quotes for Women Investors According to a study from McKinsey & Company by 2030, American women are expected…
As you plan your estate, it is important to consider the tax implications. This can range from planning for the…
An Investment Policy Statement is your guardrail to keep you on your path to retirement. When markets near high records,…
Learn some interesting facts about Valentine’s Day spending with this infographic. Source: WalletHub DISCLOSURE: Some material contained on our website…
Is this the new Occupy Wall Street movement with a massive sling shot? Wall Street bets against companies all the…
It’s a new year (thank goodness) and the perfect time to renew healthy habits, including those in your financial life….
The $900 billion emergency relief package represents a bipartisan effort to assist individuals and businesses during the ongoing coronavirus pandemic…
Even if you don’t itemize deductions on your federal income tax return, you can receive a $300 charitable deduction for…
Information provided by www.socialsecurity.gov There are many things a woman should know about Social Security. Here are five of the …
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for…
If there was one word for 2020, it very well might be “uncertainty” — rarely a positive noun in the…
Reviewing your benefit choices to maximize what your employer offers Open enrollment for employee benefits kicks off on November 1st….
Potential tax deferral under CARES Act: • Withholding of employer share of Social Security tax not required from March…
On August 18, 2020, the S&P 500 set a record high for the first time since COVID-19 ushered in a…
IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is…
The IRS provided COVID-19 guidance for health Flexible Spending Arrangements and section 125 cafeteria plans related to high-deductible health plans…
Retirees who took RMDs in 2020 have until August 31, 2020, to roll the money back into a qualified account….
If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan…
The Shape of Economic Recovery Most economists believe that GDP will turn upward in the third quarter, but it will…
Tax deadline for most individuals: • Wednesday, July 15, 2020 The due date for federal income tax returns and payments…
8th Annual First Tee Golf Event is August 7th If you are interested in helping a great cause, join us…
I’m about to get married. Should I adjust the asset allocation in my 401(k) to take my spouse’s investments into account? That…
Getting married is exciting, but it brings many challenges. One such challenge that you and your spouse will have to…
Making sense of these titles and other tips on choosing a financial professional Professionals at Ballast Advisors, LLC delineate differences between…
The FTC has received over 20,000 COVID-19 related complaints since January 1, 2020. Source: Federal Trade Commission, April 2020 Fraudsters…
This is the question many individuals and families are asking in today’s uncertainty. Aside from the obvious concerns for the…
Recently Congress passed both the SECURE Act and the CARES Act into law. Although these Acts are comprehensive in aggregate, Ballast…
Recently Congress passed both the SECURE Act and the CARES Act into law. Although these Acts are comprehensive in aggregate, Ballast…
If you are losing sleep over volatility driven by a cascade of disheartening news, it may help to remember that…
A recent update on the Business Continuity Plan for Ballast Advisors in response to COVID-19.
Helpful tips and strategies for handling market volatility.
As of February 26, 2020, the death toll from COVID-19 — the official name of the coronavirus first reported in…
If you pick up an unwanted robocall, hang up right away. Avoid answering “yes” or “no” questions, providing personal information,…
It’s a new year, a new decade, and the perfect time to renew healthy habits, including those in your financial…
Q&A with writer Kate Racculia The gig economy accounts for more than one third (36 percent) of U.S. workers —…
Ballast Financial Professionals share tips for your personal finances this holiday season. (originally published November 2018) Between holiday gifts, parties and meals…
The slump in U.S. manufacturing is being driven by a variety of factors, including a weakening global economy, the strong…
Where can you get more information? Determining what coverage you have now and comparing it to other Medicare plans can…
September is Life Insurance Awareness Month, a good time to evaluate your life insurance needs and review your life insurance…
For the first time in three years, interest rates on federal student loans will decrease for the 2019-2020 academic year….
Eagle Valley Golf Course in partnership with The First Tee of the Twin Cities at Eagle Valley will host the…
Is it smarter to pay off your mortgage or invest your extra cash? Owning a home outright is a…
Just like caring for and cleaning your house, regular maintenance on your personal finances will save you loads of time…
*There is no assurance that working with a financial professional will improve investment results. Common financial goals Saving…
Making a last-minute contribution to an IRA may help you reduce your 2018 tax bill. If you qualify,…
Massive computer hacks and data breaches are now common occurrences — an unfortunate consequence of living in a digital world….
(March 5, 2019 — Woodbury, MN) For over 30 years Kanne CPA, LLC has been providing superior accounting services for…
Q & A with parent and Twin-Cities-based financial advisor Steven Schmidt on planning for college Curious how a financial…
The U.S. Department of Education has named February Financial Aid Awareness Month. For many families, saving for college is a primary financial…
Financial Aid 101 Many parents pay for college with a combination of current income, savings, and financial aid. By learning…
