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What To Expect From Team SKG

What To Expect From Team SKG

Taking the crucial step of developing a financial plan is a significant investment in your future financial well-being. It’s never too late to start, no matter how far along you are in your career. Work with the SKG team, alleviate any stress and let us become your personal CFO, so together we can help you take control of your financial future today!


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Strengthen Your Financial Fitness in 2024

Strengthen Your Financial Fitness in 2024

We all lead busy lives. As you’ve spent your time climbing the corporate ladder you might have put some things in place but haven’t reviewed in a long time. It’s easier to navigate economic challenges, build your...

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Mastering College Savings: Making the Most of 529 Deduction State Incentives

Mastering College Savings: Making the Most of 529 Deduction State Incentives

If you’re looking for opportunities to grow your child’s college savings, the 529 plan, and the tax deduction it provides, might be right for you. This deduction is one way to raise funds for your child’s tuition, books, and other qualified education expenses. It’s the ultimate solution to ease the burden of paying for college. 

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Convert Your Roth

Convert Your Roth

Converting your traditional IRA to a Roth IRA can be a financial power move. While traditional IRAs defer taxes until retirement, Roth IRAs let you pay taxes upfront, ensuring tax-free withdrawals on both contributions and earnings during retirement.

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<a name="_heading=h.rnppj7xwdzfy" class="mce-item-anchor"></a>Key Documents in an Estate Plan

Key Documents in an Estate Plan

Are your estate plan documents in order? In estate planning, it’s important ensure proper management and distribution of your assets. In the event of death, you want your beneficiaries to be worry-free about their financial needs.

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<a name="_heading=h.n4sa7zmw7724" class="mce-item-anchor"></a>Year-End Estate Planning Considerations and Charitable Intentions

Year-End Estate Planning Considerations and Charitable Intentions

As we get closer to the end of the year, here are some important to-dos to consider regarding your estate planning and charitable gifting intentions.

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Using Roth to Maximize Your Estate

In financial planning, a Roth conversion is a powerful strategy. It offers the opportunity to pay taxes upfront and reap the benefits of tax-free growth for the rest of your lives. This approach becomes particularly valuable in estate planning, providing a lasting financial legacy for future generations.

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About Target Date Funds (TDF) in 2024

Target-Date Funds (TDFs) were introduced in the early 1990s and they have grown in popularity ever since. In recent years, their appeal has surged even more, driven partly by the auto-enrollment legislation of the Pension Protection...

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7 Tips For The Ideal Travel Experience

Finding a balance between the joy of exploration and uncertainty of travel can be difficult, especially without adequate preparation. Whether you're a budget-savvy backpacker or enjoy the luxury of resort travel, check out these 7 tips to elevate your travel experience.

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Options for Business Succession Planning

Whether it is now or in the future, 100% of business owners will leave their business at some point. Regardless of this fact, very few business owners actually take the time to develop a succession plan. If you are a business owner, it is important to have a plan in place to get the most value for your business.

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Protecting Prosperity: Key Considerations In Financial Planning For The Wealthy

There is an incredible misperception when it comes to financial planning and the affluent. While the wealthy certainly know they need “investments” and “strategies” there is often a perception, right or wrong, that they don’t need careful planning Financial planning for high-net-worth individuals and families can add an incredible layer of optimization that can have a meaningful impact on the end result.

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Medicare IRMAA: Lowering Your Healthcare Expenses

Dubbed a “silent killer” of retirement savings, Medicare's Income-Related Monthly Adjustment Amount (IRMAA) can have a major effect on your healthcare expenses. Your Medicare Part B premiums are based on your Modified Adjusted Gross Income (MAGI) from two years prior.

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Using Retirement Plans For Tax Deduction Before The Deadline

Are you a small business owner or independent contractor looking for last-minute tax deduction opportunities? It’s still
possible to explore ways to reduce taxable income using retirement plans.

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Term vs. Perm Life Insurance

Everyone knows they need life insurance, but what kind? For most people the choice can be broken down into two main policy categories — Term Life Insurance and Permanent Life Insurance.

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What to Know About a 401(k) Rollover

When changing employers, it is important to consider what to do with your 401(k). Although the process itself is simple, it is important to know special tax considerations and any potential penalties and fees. Are you aware of your options and what the most effective strategy is for your personal situation? Here are three main considerations:

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5 Tips to Teach Your Kids About Money

We help our kids learn how to walk, talk, read, write, and even how to swim. So, why don’t we teach them about money?

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Guide to Achieving Your Financial Goals

A new year is upon us and plenty of us are hoping for a much different year than the one prior. One thing that most likely remains the same though are our goals for the new year. Many of us have New Years resolutions – if your goals are financially related, here is a helpful guide to getting you on the right track.

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Should I Work With a Financial Planner?

Financial advisors assist individuals with achieving their financial goals. But what does this mean? A financial advisor’s role is to understand what your priorities and where you stand relative to those goals today – whether you are looking to build a plan to prepare for retirement, receive investment insight, build wealth for the long term, or simply budget better. They then build a roadmap for you to achieve those goals and provide ongoing support. Here is what to expect from working with a financial planner.

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2023 Holiday Spending Guide 

It’s back! Our annual Holiday Spending Guide with updated classics and some new tips to help with your budget. Celebrating the holiday season, while keeping your finances intact is a tough balancing act. Hopefully, these tips will go a long way to help save you money during this time of year.

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Business Continuity Planning

Make sure that your business survives if you do not.

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Demystifying Annuities: The Single Premium Index Annuity

The annuity landscape is one of the most complicated areas of personal financial planning. With regard to buying an annuity contract, it can be as complex and varied as purchasing a car. For example, you can get a very basic, simplistic vehicle – which perhaps will cost you somewhere around $20,000 or $25,000 – or you could get something very exotic which could cost hundreds of thousands of dollars. Buying an annuity has many different variables to consider.

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5 Questions to Ask Your Financial Advisor

When it comes to your financial situation, utilizing the services of a professional is invaluable.  Advisors assist with navigating major life decisions and developing a plan to help you achieve your financial goals. Deciding on the best person to fill these shoes, however, can be overwhelming. Here are important questions to consider asking a financial advisor:

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Laid Off or Switching Jobs? Do this with your 401(k)

If you are laid off from your job or transitioning to a new employer, we recommend one simple tool – opening up an IRA. Each time you leave an employer, you can determine if it makes sense to roll your funds over into an IRA.

There are three primary reasons to consider this:

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Avoid These Common Retiree Mistakes

Retirement is an exciting period for many people who are eager to say goodbye to long days at the office and hello to long days at the beach. However, entering retirement also means saying goodbye to a steady income stream. It is important that new retirees have a plan in place and avoid these common mistakes.

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From Deductions to Credits: Your Ultimate Tax-Saving Guide for 2024

The IRS opened the tax season officially on January 31st. Being financially responsible can be overwhelming if you don't have an efficient system to help you navigate through.

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Spousal Social Security Benefits: Things to Know

Social Security is a complex topic. Many people don’t realize that they have rights and options afforded to them as a spouse of a worker who is eligible for social security themselves. If you’re currently or previously married, this is a great opportunity to learn a bit more about maximizing your future social security benefits.

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6 Steps to Consider if You're Nearing Retirement

The closer you get to retirement, the more concern you probably have regarding your portfolio. If you find that your portfolio is underperforming your expectations, consider taking these steps to help you get on track!

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Is a Roth 401(k) for You?

When considering retirement savings methods, the most common option people consider is their employer-sponsored 401(k).  Although not as often utilized, a Roth 401(k) is another beneficial way to plan for retirement. Unlike the traditional 401(k) that funds an investment account with pre-tax dollars, this employer-sponsored account allows income to be invested after tax. Here are highlights of this vehicle if the Roth 401(k) is a route you are considering.

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Merging Finances as a Couple

Merging finances as a couple can be an exciting, but challenging time. Taking this next step with your partner is one that requires open communication and it is imperative for both parties to agree on financial habits. Before moving forward, consider these steps to help you navigate your financial wellness.  

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Financial Skills Teens Need to Have

When growing up, many people do not learn the basics of financial education. This can cause them to make poor financial decisions in early adulthood that can lead to crippling debt amongst other problems. Parents should make sure their teens know about these financial skills to ensure they are able to make smart decisions while they are taking care of themselves.

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Investing in Your Child's Education

Education is important to many people. After all, education provides more opportunities, regardless of whether you go to college, learn independently, or study a trade. Parents often plan to support their children at least part of the way through their adult education, but far too few people know that these options are available for investing in their child’s future.

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Group Life Insurance vs. Private Life Insurance

Selecting the right life insurance policy entails a nuanced evaluation of your requirements. Understanding your family's financial needs and awareness of your outstanding debts is vital for making an informed choice.

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Determining Your Risk Profile Pt .2

In our first blog, Determining Your Risk Profile, we’ve focused on your personal risk profile as it relates to your investment strategies, but it’s important to understand that your profile can be affected by other factors in your life.

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Potential Debt-Repayment Strategies

Debt is an unfortunate part of many people’s lives. Whether it be from student loans, mortgages, credit cards, or something else, debt can cause many people to get into financial situations that they need to dig their way out of. Luckily, there are many strategies you can use to tackle large or small debt, and each of them have their own merits.

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Setting Boundaries as a Leader

As a leader, it can be tempting to overwork yourself for the good of the team. After all, many people rely on you to help them fix their problems, so saying no is not always an option. However, far too many leaders work late nights and weekends, and it can be even more difficult to avoid this when you are stuck working from home. Still, it is important to find ways to separate work from home, so follow these tips to help you keep a hold on your life.

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It's Best to Invest Now

Investing is a topic many people push off until they are well-established in their lives. People in their 20s may assume that since they have 40+ years until they retire, they can invest when they’re a bit older. However, it is never too early to invest in your future, and waiting just a few years can have a significant impact on your return.

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Top 4 Ways to Take Control of Your Finances

Taking the first step toward control over your finances is a big move, but it can pay off well in the future. Financial health can play a role in many areas of your life, from day-to-day quality of living to your retirement plans. Getting started with an active approach to finance is not that difficult, so let’s look at four ways you can get started today.

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Stock Investing Reminders

When it comes to investing, the first thing many people think of is the stock market. Stocks are a high-risk, high-reward option. As such, they can be really beneficial, but they can also cause people to lose a significant amount of money. Before investing in stocks, keep in mind the following points.

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Challenges of Investing

Investing is practically a necessity if you hope to retire or live a more comfortable life in the future. Although you can get by on savings when done right, investing provides an opportunity to increase your wealth without making too many sacrifices today. However, investing does come with some challenges, which should not be overlooked. To ensure you are prepared for the difficulties of investing, take a close look at each one of these points and do what you can to mitigate their risks.

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