Demystifying Deathbed Taxes: Essential Strategies for Effective Estate Planning
Navigating the complexities of estate planning can often feel like charting through uncharted waters, especially when it comes to handling…
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Charitable Giving: Enhancing Wealth with Purpose and Impact
Charitable giving is more than an act of kindness; it is a cornerstone of comprehensive wealth management. For individuals and…
Your Guide to Home Buying and Homeownership
Buying a home is one of the most significant financial decisions you’ll ever make. Whether you’re a first-time homebuyer or…
Protecting Your Wealth: The Importance of Data Security
As you approach retirement, safeguarding your financial security takes on new importance in today’s digital world. Just as you’ve diligently…
A Snowbirds Guide to Managing Multiple Residences
Living the snowbird lifestyle can be an exciting and rewarding experience. As you navigate the waters of financial planning, it’s…
2023 Year-End Tax Tips
Here are some things to consider as you weigh potential tax moves between now and the end of the year….
Roth IRA Conversions: Finalizing Your Plans Before Year-End
Hello there! As we bid adieu to this year, it’s a golden opportunity for savvy investors and retirement planners to…
Most Medicare Costs Are Increasing in 2024
Premiums, deductibles, and coinsurance amounts for Original Medicare generally change every year. Here’s a look at some of the costs…
2023 Market Update 3rd Quarter
Dive into our latest blog for a better understanding of the ever-shifting market sentiment in Ballast Advisor’s third-quarter update. Bullish…
Plan Your Way Through End-of-Year Expenses
As the leaves turn golden and the air grows crisp, we can’t help but look forward to heartwarming holidays, joyous…
Claim the Home Energy Audit Tax Credit: IRS Guidance Explained
The IRS has announced guidance for the home energy audit tax credit. When considering making energy-saving home improvements, it may…
7 Tips to Navigate Healthcare Over 65
As the world of health insurance evolves, the Annual Enrollment Period can be overwhelming and confusing. For those nearing age…
What’s Happening in the World of Higher Education?
2023 survey revealed a notable shift in public opinion over the past decade about the value of a college degree:…
Why Did Retirement Confidence Falter in 2023?
In its annual Retirement Confidence Survey of current workers and retirees, the Employee Benefit Research Institute found that workers’ confidence…
2024 Key Numbers for Health Savings Accounts
The IRS recently released the 2024 contribution limits for health savings accounts (HSAs), as well as the 2024 minimum deductible…
2nd Quarter Market Update
We hope this 2nd Quarter Market Update finds you well. As we reach the end of the second quarter of…
Staff Updates At St Paul Office
We have some exciting news to share with you. Ms. Stevie Gerrells, FPQP® has been promoted to a new position…
Important Notice about Woodbury Office Access
Please note that there is an upcoming construction project scheduled to take place near our Woodbury Office from July 17th…
Five Things That Actually Get Better With Age
Yes, there are good things about being old, such as increased happiness, less stress, better marriages and deeper friendships. You…
Transformative Tech: Will AI Upend the American Workforce?
A chatbot with uncanny human-like writing abilities has become the poster child for artificial intelligence (AI) since it was released…
Navigating the Current Mortgage Interest Rate Environment
The home mortgage is often the biggest transaction of a person’s life. In today’s dynamic economic landscape, mortgage interest rates…
Mothers and Money: How Three Generations of Women Approach Financial Planning
Financial planning is a vital aspect of life. Often, the financial lessons and advice passed down from generation to generation…
Succession and Retirement Planning for Entrepreneurs
Business Owners Must Stay Ahead of Daily Events and Keep the End in Mind Building a business is kind of…
Tax Consequences for Not Abandoning Domicle
The concept of your domicile is very different from that of your residency Domicile is an important concept in determining…
7 Things You Can Do to Trim Your 2023 Tax Bill
Reducing your tax liability can literally save you thousands of dollars Tax season can be a stressful time for many…
Understanding Custodial Relationships Amidst the Silicon Valley Bank Collapse
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
Data Privacy and Your Financial Planner Updated January 13, 2023: Data privacy week…
The Pros and Cons of Charitable Giving Strategies
Once you have provided for your own personal expenses and retirement, it may be time to consider how your money…
Is Tax Loss Harvesting Worth It?
Introduction After a rough year in the market, it’s rare an investor didn’t experience losses. How you treat those losses…
Checklists for Year-End Tax Planning
What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that…
How to Minimize Taxes During Market Downturns
Market downturns, like the one through the first half of 2022, could be a good time to adjust your fund…
Retirement Legislation Awaits Further Action
Legislation that could benefit people with individual retirement accounts (IRAs) and workplace retirement plans is currently moving through Congress. The…
Hurricane Emergency Planning Resources
Homeowners who live in areas affected by hurricanes know that the damage incurred by such storms can be significant. In…
Don’t Get Rid of Dividend-Paying Stocks Just Yet
“Money makes money. And the money that money makes, makes money.” Since the beginning of the year, economists and…
CHIPs and Science Act Aims to Preserve U.S. Technology Edge
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
Did you inherit an IRA? What you need to know about new IRS rules for your financial plan If you…
IRS Releases 2023 Key Numbers for Health Savings Accounts
The IRS has released the 2023 key tax numbers for health savings accounts (HSAs) and high-deductible health plans (HDHPs). The…
Now Might Be a Good Time for a Roth Conversion
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
The Health of Social Security: Some Good News and Some Bad News With approximately 94% of American workers covered by…
4 Questions If You’re Thinking About Retiring to Punta Gorda
4 questions to ask if you’re thinking about retiring to Punta Gorda Is Punta Gorda a good place to retire?…
How Grandparents Can Help Grandchildren with College Costs
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
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?
Could the Price of Oil Hit $250 This Summer? If it does, think higher inflation, lower economic growth and global…
What Should You Do as Markets Flirt with Bears?
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
Federal Student Loan Repayment Postponed for Sixth Time On April 6, the U.S. Department of Education announced a record sixth…
Resources for Applying Eco-Friendly Practices in Your Finances
Investors are increasingly applying non-financial factors such as environmental concerns, social justice, and governance practices (or ESG) as part of…
Watch Out for These Common Tax Scams
According to the Internal Revenue Service (IRS), tax scams tend to increase during tax season and/or times of crisis.1 Now that…
Is the Russia-Ukraine War a Threat to the Global Economy?
Before Russia stunned the world by invading Ukraine, it was widely believed that the economic ties formed through globalization would…
Help Wanted: Why Can’t Businesses Find Enough Workers?
The headline U.S. unemployment rate fell from 6.7% at the end of December 2020 to 3.9% in December 2021, marking…
Managing Bond Risks When Interest Rates Rise
After dropping the benchmark federal funds rate to a rock-bottom range of 0%–0.25% early in the pandemic, the Federal Open…
There’s Still Time to Contribute to an IRA for 2021
Making a last-minute contribution to an IRA may help you reduce your 2021 tax bill. If you qualify, your traditional…
Insights on Recent Market Volatility
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?
What is the Fed Taper? An economist explains how the Federal Reserve withdraws stimulus from the economy Tapering refers to…
Snowball or Avalanche? Choosing the best debt repayment strategy
Ballast Advisors is a fee-based financial planning firm. Our financial advisors serving the Twin Cities and Southwestern Florida can help you reach…
2022 Key Numbers
A popular tool, the 2022 Key Numbers document is a comprehensive list of tax bracket and deductions information to assist…
Plan Your Finances as You Would Your Exercise
You exercise to benefit from your sweat equity in the future, right? Waking up early in the dark mornings of…
2021 Year-End Tax Tips
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
5 Reasons to Consult a Financial Planner on New Tax Legislation The new tax…
What to Do If (When) Your Taxes Start Going Up
One variable that is hard to plan for in retirement is taxes. There are steps you…
Inflation is Not a Hidden Tax – It’s a Very Real Tax
Do you understand how inflation will impact your overall financial plan?…
Tips for Documenting Your Charitable Gifts
Charitable donations allow you to give and take—you give money or property to a qualified charity and then take an…
Financial Planning for Millenials
1 in 4 Millennials are “not sure” how their retirement savings are invested. How do you stack up? More Personal…
Mid-Year Is a Good Time for a Financial Checkup
The first half of 2021 is behind us. As life emerges from the pandemic to a “new normal,” a mid-year…
INFOGRAPHIC: 5 Facts about Retirement Savings
In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according…
Five Financial Mistakes You Should Avoid
These simple steps might save you a great deal of money and heartache We all make mistakes, and through them,…
Rising Inflation: Where Will It Go from Here?
Though all economists expect inflation numbers to rise in the near term, there are different views on the potential long-term…
“Have you enjoyed your money?” And other financial planning questions you should ask yourself in 2021
By Paul Parnell “Have you enjoyed your money?” This is a question I often ask my clients. Too often I…
Quarterly Market Review: January-March 2021
The Markets (first quarter through March 31, 2021) As we closed out 2020, the overwhelming sentiment entering January was that…
Where Millennials are Buying Homes
The areas might surprise you – and are likely to see prices continue to rise Housing has been on a…
As Seen in St Croix Valley Magazine
Ballast Advisors was recently featured in St. Croix Valley Magazine’s April/May 2021 issue on our comprehensive financial planning services.
Special Needs Require Special Planning
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
9 Motivational Quotes for Women Investors According to a study from McKinsey & Company by 2030, American women are expected…
Advanced Estate Planning Concepts for Women
As you plan your estate, it is important to consider the tax implications. This can range from planning for the…
Now is a Fantastic Time to Review Your IPS
An Investment Policy Statement is your guardrail to keep you on your path to retirement. When markets near high records,…
Valentine’s Day By The Numbers
Learn some interesting facts about Valentine’s Day spending with this infographic. Source: WalletHub DISCLOSURE: Some material contained on our website…
GameStop and a Modern-Day David vs. Goliath
Is this the new Occupy Wall Street movement with a massive sling shot? Wall Street bets against companies all the…
10 Tips To Help You Save More in 2021
It’s a new year (thank goodness) and the perfect time to renew healthy habits, including those in your financial life….
Consolidated Appropriations Act Provides Relief to Individuals and Businesses
The $900 billion emergency relief package represents a bipartisan effort to assist individuals and businesses during the ongoing coronavirus pandemic…
Year-End Charitable Giving
Even if you don’t itemize deductions on your federal income tax return, you can receive a $300 charitable deduction for…
5 Things Every Woman Should Know About Social Security
Information provided by www.socialsecurity.gov There are many things a woman should know about Social Security. Here are five of the …
IRA and Retirement Plan Limits for 2021
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for…
How Do Presidential Elections Impact The Stock Market?
If there was one word for 2020, it very well might be “uncertainty” — rarely a positive noun in the…
Open Enrollment Season is Around the Corner
Reviewing your benefit choices to maximize what your employer offers Open enrollment for employee benefits kicks off on November 1st….
Temporary Payroll Tax Deferral: What You Need to Know
Potential tax deferral under CARES Act: • Withholding of employer share of Social Security tax not required from March…
The Bull Is Back… Will It Keep Charging?
On August 18, 2020, the S&P 500 set a record high for the first time since COVID-19 ushered in a…
IRA and Retirement Plan Limits for 2020
IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is…
IRS Outlines Changes to Health-Care Spending Rules Under CARES Act
The IRS provided COVID-19 guidance for health Flexible Spending Arrangements and section 125 cafeteria plans related to high-deductible health plans…
IRS Clarifies COVID-19 Relief Measures for Retirement Savers
Retirees who took RMDs in 2020 have until August 31, 2020, to roll the money back into a qualified account….
Changing Jobs? Know Your 401(k) Options
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
The Shape of Economic Recovery Most economists believe that GDP will turn upward in the third quarter, but it will…
July 15 Due Date Approaches for Federal Income Tax Returns and Payments
Tax deadline for most individuals: • Wednesday, July 15, 2020 The due date for federal income tax returns and payments…
Ballast Advisors Sponsors First Tee Fundraiser
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 my 401(k) asset allocation?
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…
Merging Your Money When You Marry
Getting married is exciting, but it brings many challenges. One such challenge that you and your spouse will have to…
Financial Planner vs Financial Advisor?
Making sense of these titles and other tips on choosing a financial professional Professionals at Ballast Advisors, LLC delineate differences between…
Watch Out for Coronavirus Scams
The FTC has received over 20,000 COVID-19 related complaints since January 1, 2020. Source: Federal Trade Commission, April 2020 Fraudsters…
What does the economic impact of the novel coronavirus (COVID-19) mean for your financial plan?
This is the question many individuals and families are asking in today’s uncertainty. Aside from the obvious concerns for the…
What You Need to Know About the SECURE Act
Recently Congress passed both the SECURE Act and the CARES Act into law. Although these Acts are comprehensive in aggregate, Ballast…
What You Need to Know: CARES ACT
Recently Congress passed both the SECURE Act and the CARES Act into law. Although these Acts are comprehensive in aggregate, Ballast…