[email protected] Financial To-Do #2: The Parent-Adult Child Money Chat

Thinking about young adults as they think about their careers, manage cash flow, decisions on spending and savings, Cornerstone would like to offer insight and tools to help you help them create the conditions for a promising financial future. We often hear from clients in the planning process, “Wish we had started earlier.” Regardless of […]

A Retirement Wealth Gap Adds a New Indignity to Old Age

Many middle-class Americans are financially unprepared for retirement—and that is leading to an array of social tensions This is an interesting article, and a potential “need-to-know” for those planning to move when they retire. According to this Wall Street Journal article, an unexpected problem could surface when you move from your pre-retirement “work” home into […]

Social Security Recipients Get 2.8% Cost of Living Boost in 2019

By Dave Winkler The Social Security Administration announced a 2.8% cost of living adjustment (COLA) that will benefit 63 million recipients starting January 20191. This adjustment marks the second consecutive year of COLA growth of two percent or greater. In 2017, the increase was 2.0%2. In 2015 and 2016, COLA increases were 0.0% and 0.3%, […]

7 Myths About Retirement

By Cornerstone Wealth Management Before it is too late, let’s clear up some important misconceptions. While some retirement clichés have been around for decades, others have recently joined their ranks. Let’s explore seven popular retirement myths. “When I’m retired, I won’t need to invest anymore.” Many see retirement as an end of a journey, a […]

Is the right time to Roth it?

For some, the recent tax reforms indicate, yes. For others, not so fast. By Cornerstone Wealth Management Can federal income tax rates get lower than they are today? Given the national debt and the outlook for Social Security and Medicare, it is hard to imagine that rates go much lower. In fact, it is more […]

IRA vs. 401(k)

Comparing two popular retirement account types. By Cornerstone Wealth Management When you think about retirement accounts, it is likely that at least one of these two account types come to mind: the IRA and the 401(k). Each are common and relatively easy ways to save for retirement. Each have unique and common features and benefits. […]

When Is Social Security Income Taxable?

To find out if this tax applies to you, look closely at two factors. Provided by Cornerstone Wealth Management Your Social Security income could be taxed. That may seem unfair or unfathomable. Regardless of how you feel about it, it is a possibility. Since 1984, Social Security recipients have had to contend with this possibility. […]

Is Your Company’s 401(k) Plan as Good as It Could Be?

Two recent court rulings may make you want to double-check. How often do retirement plan sponsors check up on 401(k)s? Not as often as they should, perhaps. Employers should be especially vigilant these days. Every plan sponsor should know about two recent court rulings. One came from the Supreme Court in 2015; another, from the […]