Representative Lauren Underwood from Illinois and Senator Tammy Baldwin of Wisconsin have reintroduced the Women's Retirement Protection Act of 2023. This critical legislation protects women's retirement savings after a divorce.
3 Reasons Every High Net-Worth Family Should Fund a Health Savings Account
Health Savings Accounts (HSAs) are not only a savvy investment option but also offer numerous benefits, especially for high-net-worth families. An HSA is a tax-advantaged savings account designed for individuals with high-deductible health plans (HDHPs) to help cover out-of-pocket medical expenses. While the utility of HSAs is universal, they hold advantages for high-net-worth families and have steadily grown in popularity since their inception.
How Money Can Buy Happiness (Part 2)
Earlier this year, I explained two principles you can follow to obtain the most happiness from your spending https://www.highlandplanning.com/learning-center-1/how-money-can-buy-happiness-part-1. In today’s article, I will cover three more concepts that can help bring more joy in your life with your spending. Below are the five principles outlined in the book Happy Money.
What I Did on My Sabbatical
We only have 24 hours daily to do all life's necessities like work, sleep, and personal care. According to a 2022 US Bureau of Labor Statistics (BLS) survey, an average day has about 5 hours of leisure time. I'm unsure what the BLS counts towards 'leisure,' but I think it may be overstated. Nonetheless, the takeaway is our time is limited.
A Look Back at The First Half of 2023
The S&P 500 index rose 16.9% on a total return basis over the first half of of 2023. If you factor in July, the index is up over 20%. After a challenging year for investors in 2022, when the index lost almost 20%, it’s hard to complain about this year’s progress. With the S&P nearly doubling the long-term average annual return in 2023, it’s easy to say the market is healthy and all companies are doing well, right?
4 Fundamentals of Financial Planning Success… and to Becoming a Better Pool Player
The Pass-Through Entity Tax
The "Tax Cuts and Jobs Act" (TCJA) of 2017 brought a significant shift in the taxation landscape for individuals and businesses. One of the changes was the $10,000 cap on deductions for state and local taxes (SALT). This limit impacted the tax strategy of many high-tax states, pushing them to find ways to mitigate the impact of this cap on their taxpayers.
