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Financial Elder Abuse Epidemic

Financial Elder Abuse Epidemic

Financial elder abuse involves family members, caregivers, or professionals that illegally exploit an older individual for their monetary assets and property for their financial gain. It is estimated that elder financial abuse costs older Americans upwards of $36 billion. According to the National Council On Aging, 1 in 10 Americans aged 60+ have experienced some form of abuse, but only 1 in 14 cases are estimated to be reported to authorities.

Time to go “Mega” With Your Backdoor Roth Conversions?

Time to go “Mega” With Your Backdoor Roth Conversions?

For many people utilizing a Roth IRA to help save for retirement, they enjoy the benefits of tax-free growth and tax-free withdrawals after the age of 59 ½. An additional advantage of the Roth IRA, in contrast to a Traditional IRA, is that you are not required to take minimum withdrawals at age 72, enabling the account to continue to grow tax-free.

What I Did on My Sabbatical

What I Did on My Sabbatical

In 2019, HIGHLAND instituted the sabbatical benefit for each employee to take a month off and detach from work every seven years. I was due to take the first sabbatical in 2020, but due to COVID19, I postponed it to 2021. From February 20th to March 20th, I took a one-month sabbatical from work. My wife and I rented a place on the beach on the west coast of Florida.

American Rescue Plan Highlights

American Rescue Plan Highlights

With President Biden signing the American Rescue Plan legislation into law last week, here is a high-level look at some of the bill's main provisions. There are many nuances to each of the major points highlighted, and this article only scratches the surface. As always, it is wise to consult with your financial advisor and tax professional to determine what you qualify for depending on your specific situation.

Does China Deserve a Dedicated Spot in Your Portfolio?

Does China Deserve a Dedicated Spot in Your Portfolio?

As world economies continue to grow and evolve, it is becoming increasingly evident that China is playing a larger role in that growth. Some projections have China's GDP reaching $64 trillion by 2030, up from $14 trillion in 2019. By almost any measure, the Chinese economy is experiencing expansion that will likely continue in the decade to come. Still, it also has unique headwinds that it will need to overcome as well.

RSUs: How to Reduce Associated Taxes

RSUs: How to Reduce Associated Taxes

Restricted Stock Units (RSUs) are a form of stock-based compensation that can potentially provide a windfall but may come with a sizable tax bill. RSUs have two important dates, the Grant Date and Vesting Date(s). The Grant Date is when you are awarded the RSUs. The Vesting Date(s) is when you are transferred ownership of the shares and recognize the market value as ordinary income on your tax return.

Why it is Not Advisable to use 401(k) Loans to Pay Student Loan Debt

Why it is Not Advisable to use 401(k) Loans to Pay Student Loan Debt

Federal student loans are efficient forms of debt because the interest is tax-deductible, and the interest rates are relatively low compared to other forms of debt like credit cards. In addition, student loans are designed as an investment in yourself and provide the ability to earn more through your human capital in the future.

How Do Elections Impact Your Portfolio?

How Do Elections Impact Your Portfolio?

With the election results in Georgia, President Biden will have a majority in both the House and Senate. Half the country may be excited about this, and about half the country may be in a panic. As an investment advisory firm, we want you to understand the facts and make decisions in your best interest. Far too often, we see people make short-term decisions based on a perception of something rather than a prudent judgment based on facts.

Tips for Getting the Best Deal When Leasing a Car

Tips for Getting the Best Deal When Leasing a Car

With the start of the new year, those who have auto leases coming due will be contemplating which new set of wheels to drive off the lot. While enjoying a new vehicle is the fun part, knowing whether you got a good deal on your lease is often less so. However, just by arming yourself with some basic knowledge of how automobile leasing works, you can significantly improve your odds of not signing an unfavorable contract.