Blog

Attention Parents and Grandparents of College-Bound Students: FAFSA Gets an Overhaul

JAMES V. LUPICA, MBA

Tuesday, August 1, 2023

Changes are coming to the complicated form that students must submit to qualify for college financial aid, known as the Free Application for Federal Student Aid (FAFSA). The Department of Education is calling it the “most...

The 6 Biggest Mistakes DIY Investors Make and How to Avoid Them

JAMES V. LUPICA, MBA

Tuesday, July 25, 2023

IntroductionOver the last several months, I have met with quite a few self-proclaimed do-it-yourself (DIY) investors who, after struggling with the markets in 2022, approached me asking for a second opinion. Interestingly, almost every...

How the SECURE 2.0 Act Changed 529 Plans

JAMES V. LUPICA, MBA

Tuesday, July 11, 2023

Changes to 529 plans in the SECURE 2.0 ActThe SECURE Act was initially passed by Congress at the end of 2019 and was intended to improve retirement savings opportunities. It was a big deal at the time and the most significant piece of...

Health Savings Accounts: Pros, Cons, and Retirement Considerations

JAMES V. LUPICA, MBA

Thursday, July 6, 2023

What if your child needs braces? The cost may be as much as $6,000 for metal braces—more modern versions can run as much as $13,000. Your health insurance may cover only a portion of the cost. If you're well past the braces stage...

Top 7 Most Common Estate Strategy Mistakes (and How to Avoid Them)

JAMES V. LUPICA, MBA

Thursday, June 22, 2023

Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to...

Navigating the Costs of Senior Care: Tips for Preparing for Long-Term Care

JAMES V. LUPICA, MBA

Wednesday, June 14, 2023

Senior care costs can be overwhelming, particularly when long-term care is required due to illness or medical conditions. With the number of seniors in the U.S. expected to rise exponentially by 2030, it's crucial to be prepared for...

Living Trusts: Understanding the Basics and Key Considerations

JAMES V. LUPICA, MBA

Thursday, May 25, 2023

Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes.One popular tool that can be used in estate strategies is...

Trying to Time a Recession?

JAMES V. LUPICA, MBA

Thursday, May 11, 2023

Economies move in cycles – always have, always willThe Federal Reserve has been steadily increasing interest rates in an attempt to slow the rate of inflation. Its efforts are yielding some results, although inflation remains...

What Factors Have the Greatest Impact on Your Credit Score?

JAMES V. LUPICA, MBA

Friday, April 28, 2023

Fun fact: You probably have dozens of credit scores out there, and each one might be a different number.You’re probably familiar with a credit score, why it’s essential, and what it’s used for, but do you know how...

Important Financial Considerations to Make When Remarrying Later in Life

JAMES V. LUPICA, MBA

Monday, April 17, 2023

Discussing personal finances is important for any couple preparing for marriage. However, this topic can be more complicated for those who remarry later in life.If you’re remarrying later in life, one of your goals should be to...

Top Considerations to Help Adult Children Be Better Prepared As You Age

JAMES V. LUPICA, MBA

Wednesday, April 12, 2023

As we get older, it’s important that our adult children are prepared to manage any aging-related situations that may arise. This includes everything from having to make medical and financial decisions to determining assisted...

Tips for Raising Financially Literate Children

JAMES V. LUPICA, MBA

Monday, March 20, 2023

Every parent wants the best for their children and strives to prepare them to lead a happy, healthy, and successful life. But, despite understanding the importance of financial responsibility, only 28 percent of parents speak to their...

Transitioning to Medicare from Private Health Insurance Plans

JAMES V. LUPICA, MBA

Monday, March 6, 2023

Transitioning from Private Health Insurance Plans to MedicareAs you approach retirement age, you may be anticipating transitioning from your private insurance to Medicare, which is a federal health insurance program that provides...

Where You Can Put Excess Cash

JAMES V. LUPICA, MBA

Wednesday, February 15, 2023

According to the Investment Company Institute, near the end of 2022, there was more than $4.7 trillion in cash sitting in U.S. money market funds.1,2While cash can play a role in a diversified portfolio, historically, cash has not kept...

Technology Guide for Seniors

JAMES V. LUPICA, MBA

Wednesday, February 8, 2023

By 2040, the U.S. Census Bureau estimates that 80 million people in the U.S. will be age 65 or older.1 Most of these senior adults will either want to—or need to—"age in place," living in their homes securely, independently...

What Is the Sequence-of-Return Risk and How Can Retirees Mitigate Its Effects?

JAMES V. LUPICA, MBA

Monday, January 23, 2023

With the possibility of a recession looming, it's natural for those nearing or in retirement to have concerns over their long-term strategies. After decades of accumulating a portfolio, the last thing retirees want is for a market...

Lifetime Estate & Gift Tax Exemption Updates for 2023

JAMES V. LUPICA, MBA

Wednesday, January 4, 2023

In October 2022, the Internal Revenue Service (IRS) announced tax changes for 2023 — changes primarily driven, in part, by the current inflationary environment. For affluent couples or individuals interested in transferring...

The Challenge of Raising Non-Materialistic Kids

JAMES V. LUPICA, MBA

Monday, December 12, 2022

In today’s social media-obsessed world full of popular “influencers” targeting teens, pre-teens, and even younger groups, instilling values in your children and grandchildren about what really matters in life is more...

Contribution Limit Increases for 2023: Just What We Wanted to Hear

SAMUEL LUPICA

Monday, December 5, 2022

In late October, the IRS announced that it is increasing contribution limits to retirement savings accounts in 2023. The changes, like many you are seeing, are a direct result of months of high inflation and financial uncertainty, some...

Year-End Financial Strategies

JAMES V. LUPICA, MBA

Monday, November 28, 2022

The year is almost over, and it has certainly been a bumpy one for the financial markets and our economy. As financial professionals, we work with families to design investment strategies that help them pursue their goals for education...

Charitable Giving Strategies for 2022

JAMES V. LUPICA, MBA

Monday, November 14, 2022

Key points:Over the past five years, affluent Americans increased their donations to charity by 48%.1Understand various strategies to help you maximize the impact of your charitable donations and your income tax savings.To qualify for...

How Does the Inflation Reduction Act Impact Healthcare? A Guide During Open Enrollment Season

JAMES V. LUPICA, MBA

Tuesday, November 1, 2022

Key points:One of the biggest components of the Inflation Reduction Act is the changes to healthcare costs and coverage. The Inflation Reduction Act requires all pharmaceutical companies to rebate Medicare participants for the...

The Pros & Cons of ESG Investing

JAMES V. LUPICA, MBA

Monday, October 24, 2022

If you haven’t heard much about ESG investing, you will. ESG has gone from a niche investment philosophy to a mainstream investment tenant. At the same time, it has gained the attention of corporations, politicians, regulators,...

It's Cybersecurity Awareness Month: 7 Steps to Protect Yourself

JAMES V. LUPICA, MBA

Wednesday, October 12, 2022

Over 50% of consumers have fallen victim to a cybercrime, with a third of those attacks taking place in the past year alone. So there are 263 million American consumers. 131.5 million have been hit by cybercrime, with 44 million...

Will Your Social Security Check Be Taxed?

JAMES V. LUPICA, MBA

Tuesday, October 11, 2022

Most people are used to having a percentage of their paycheck withheld for Social Security. The withholding rate in 2022 stands at 6.2% for individuals and another 6.2% for their employers, for a total of 12.4% per person.1 But...

3 Tax Exemptions You Don’t Want to Miss

SAMUEL LUPICA

Thursday, July 21, 2022

While investments and savings are core to your financial plan, ensuring your estate plan is tax-optimized means keeping more of the wealth you are building. Currently, it’s a relatively favorable environment for estate taxes, but...

Watching Your Portfolio Isn’t Much Fun Right Now

JAMES V. LUPICA, MBA

Wednesday, July 20, 2022

For many investors, it’s been a tough year. The combination of high inflation and poor investment performance has left us feeling a sense of loss and hopelessness. While day-to-day may be difficult to watch; investing is a long...

Some rules are meant to be broken - like the one about not wearing white after Labor Day. Others should remain sacrosanct, such as the rules of good credit. Those are kind of rules that can make life easier and happier when you follow...

Planning Medicare for Women

SAMUEL LUPICA

Saturday, June 6, 2020

If you're like most people, you know what a headache it is to pay for health care. Even if you have private insurance through an employer, there are all sorts of things to worry about: premiums, deductibles, whether your insurance will...

Cybersecurity for Seniors

JAMES V. LUPICA, MBA

Saturday, May 23, 2020

When it comes to educating our families about cybersecurity, most people think about teaching their children. But from a financial standpoint, it's just as important to teach your parents and/or grandparents. After all, the last thing...

At times I get asked, "Sam, what gift would you recommend I get my daughter or son?" As a parent and financial advisor, I can't help but relate that question to my life. Aside from love, what's the most meaningful gift I could give my...

Can You Hear Me Now

SAMUEL LUPICA

Saturday, March 28, 2020

March was International Listening Awareness Month. In honor of that, I wanted to share some of my favorite anonymous quotations on listening. History repeats itself because no one listens the first time. Conversations: A vocal...

Empowering Women in March

JAMES V. LUPICA, MBA

Tuesday, March 17, 2020

Happy St. Patrick's Day! As you know, St. Patrick's Day can mean many things to many different people. At its heart, the day is to honor the death of Saint Patrick, one of the most important figures in Irish history. More recently,...

As the month of February rolls around, a lot of us automatically think of Valentine's Day. But I imagine you might like to read about something different this year, so I looked for famous people born during February. The most obvious...

Mahatma Gandhi once said, "If we could change ourselves, the tendencies in the world would also change. As a man changes his own nature, so does the attitude of the world change towards him. We need not wait to see what others do." In...

As we start the beginning of the year, I am reminded of one of my favorite quotes: "Every man should be born again on the first day of January. Start with a fresh page. Take up one hole more in the buckle if necessary, or let down,...

Except for people in the tropics, the winter months have always been hard on the human race. Even in the 21st century, winter can feel more like a wasteland than a wonderland. The cold temperatures cause car engines to freeze and...

Happy December! With the holiday season upon us, I expect most people are preoccupied with visions of dancing sugar plums and Christmas stockings. I know I certainly am! But if you find a bit of quiet time during all the rush, I'd...

Most people do whatever they can to protect their possessions from being stolen. We put locks on our doors, install security systems, or buy a dog. Increasingly, people are also starting to wise-up to the dangers of identity theft and...

Have you ever wanted to own a business? Think about it. You have to admit it's a tempting thought. Your business could be anything - an office, a shop, a studio, a store. You could run it from your home, or over the Internet, or in the...

One of the seemingly easier tasks involved in the purchase of life insurance is naming the beneficiary. An agent with pen in hand asks the applicant, "Who will get the cash?" The applicant looks at his/her spouse and without a thought...

The lack of Critical Illness Insurance is a serious gap in your coverage. While it may not be pleasant to think about, the truth is that many of us will be affected by a major illness or condition at some point in our lives, such as a...

Let me start off by saying, we all know that one of the most important parts of being a parent is making sure that your child is well provided for. A large part of providing for your child is making sure that they get a good education....

A famous general, who later became our President, once told us "Plans are worthless, but planning is everything." Much the same can be said for financial plans. Bookstores have stacks of self help financial planning books bearing...

January: " I've spent all my money during the holidays." February: " I have no time to make an appointment because the month is too short." March: " It's too cold and too rainy." April: " I'm preoccupied with income taxes." May: " The...

Welcome to the Dog Days of Summer, traditionally the hottest and muggiest part of the season! For most of us, August is the month that fills in the gap on the calendar between Independence Day and Labor Day. It's traditionally the time...

Did you know that summer is for dreamers? It's true! Some of the greatest and grandest dreamers in history were either born in or saw their greatest successes come in summer, and their stories continue to amaze and inspire even today....

Understanding family attitudes towards money may improve financial decisions and reduce financial stress. Understanding family attitudes towards money may improve financial decisions and reduce financial stress. People inherit more...

Technology is a life changer. GPS has improved interpersonal relations by eliminating arguments about asking for directions. Apps for car services, food delivery, video streaming, news media, and social media have changed the way we...

“There’s no place like home.”1Conjuring an image of ‘home’ was a lot easier for Dorothy than it is for people who are on the cusp of retirement. After all, isn’t retirement supposed to be a new start? Aren’t retirees supposed to wave...

It’s almost time to don green and gold. That’s right, March 17 is upon us. There’s more to the holiday, however, than eating corned beef and cabbage and celebrating the Irish. For instance, St. Patrick is the patron saint of Ireland,...

Here’s a number most people would like to see on an annual statement: 21.6 percent. That was the annual return for the Standard & Poor (S&P) 500 Index during 2017. In general, U.S. stock indices did quite well last year – and the year...

If you’re looking for a gift that will express your love better than chocolates or a bouquet of flowers, don’t fret. Trendhunter.com has some innovative and unconventional suggestions:• Literary love tattoos. Perhaps, you’d like Rainer...

Here’s a riddle for you: Some people are reluctant to start me, unless I’m automatic. I’m frequently exhausted when I don’t roll over. I’m sometimes left behind. Retirees devour me. What am I? Answer: A retirement savings plan.New jobs...

Most Americans know Martin Luther King, Jr. was a Baptist minister and the leader of the Civil Rights Movement in the United States until he was assassinated in 1968. Test your knowledge with this quiz about Dr. King.1. Before...

Fifteen years ago, a Health Services Research report described the challenges ahead for the United States as the Baby Boom generation aged into retirement. Four issues were paramount: 1) improving payment and insurance systems for...

The last bear market in bonds began in the middle of the last century and lasted for about 31 years. Some investors who bought bonds in 1950 locked in relatively low rates of return for a very long time. On January 1, 1950, 10-year U.S...

New years bring new adventures, and 2018 is no different. To paraphrase Ed Sullivan: 2018 could be a really big year. Here are a few of the events we can look forward to:• Men’s World Cup in Russia. CBS’s power rankings put Brazil at...

“The holidays are often seen as a time of joy: ruddy cheeks, festive parties, and twinkling laughter, all wrapped in a warm, tinsel-framed glow. It’s the most wonderful time of the year! It may be the ‘season to be jolly,’ but not...

There is a simple and unsettling reality in the United States. Most Americans are not financially prepared for retirement. There is a simple and unsettling reality in the United States. Most Americans are not financially prepared for...

Thanksgiving is the mother of all family dinners. It’s a celebration of our great nation and the many blessings that occur when people unite together in the spirit of communication. As you’re gathered around the table this year, here’s...

All too often, we assume the men and women who fought for our country can take care of themselves. Unfortunately, that isn’t always the case. There are some important ways ordinary Americans can help those who are returning from battle...

Retirement and Social Security are inextricably linked. Not only did Social Security help establish the official U.S. retirement age at 65, it also provides a significant portion of today’s retirees’ incomes. Retirement and Social...

Halloween is almost upon us! Whether you’re wearing a costume, decorating your yard/house, or handing out treats, you won’t be alone. More than 179 million Americans are expected to participate in 2017’s Halloween festivities – and...

Smartphones are incredibly handy. That may be why about three of every four Americans own them.1 On average, smartphone users spend almost three hours a day – 86 hours every month – using their phones. They send texts and email,...

How times change! In 1940, half of Americans finished their education in eighth grade. College degrees were relatively rare. Just 6 percent of men and 4 percent of women had one.1During the past 80 years, college has become far more...

Labor Day is about a lot more than the end of summer and the start of a new school year. The holiday, which celebrates American workers, became a federal holiday in 1894 and was created to recognize the contributions and achievements...

In a 2002 interview with Mike Wallace, former First Lady Nancy Reagan said she often reread the love letters written by her husband, former President Ronald Reagan. The letters, which had sustained and enriched their relationship,...

While some may be concerned about the iconic American meat that arrives in a rectangular 12-ounce tin (and is inexplicably popular in certain island states and American territories), more should be wary of its namesake – the spam that...

The idea of Artificial Intelligence (AI) may bring to mind movies like Terminator, Wall-E, and Transcendence, but the reality of AI is expected to help people find answers to some significant issues. For example, a PwC survey found:1 •...

On July 4, 1776, the American colonies claimed independence from Britain. This declaration eventually led to the formation of the United States. As we celebrate the birth of our great nation, test your knowledge with this brief quiz.1...

The bull market in U.S. stocks has been charging ahead for more than eight years.1 While that’s young in people years, it’s ancient in bull market terms. Since World War II, the longest bull market in U.S. stocks lasted for almost...

You’re probably familiar with ‘20 Questions.’ It’s a classic long-distance-car-trip game that encourages creativity and deductive reasoning. On this Father’s Day, try playing a version that can help you learn a lot more about your...

Wouldn’t it be something if you could plump up your retirement savings as easily as you can put on a few pounds eating fast food? Here’s one way to do it: Open a health savings account (HSA). It offers a triple tax advantage and you...

Memorial Day is a day of remembrance for those who have given their lives in the service of our country. See what you know about Memorial Day by answering a few questions from an AARP quiz.1 1. Memorial Day was created to honor...

Changing diapers, arranging play dates, driving car pools, calming squabbling siblings, attending musicals and sporting events, chaperoning proms, coaching teams, helping with college applications…moms have a lot of responsibilities....

We are all, inexorably, marching toward old age. By 2030, 72 million Americans will be age 65 or older.1 The good news is longevity has been improving, and people are remaining healthy and vibrant at older ages. The bad news is...

Some people may name a medical device or implant, such as a hearing aid, an artificial joint, or a pacemaker. Others may say they couldn't live without their electric bikes, GPS devices, tablets, or food processors. A surprisingly...

It’s tax season! Every year, around this time, the Internal Revenue Service (IRS) publishes its dirty dozen – a list of scams criminals use to try and ferret out personal information and/or steal money.1 For example, if you received an...

It has been said everyone in America is Irish on St. Patrick’s Day. Whether you have Irish ancestry or merely enjoy a good celebration, test your knowledge of the old country by taking this quiz. 1. What is Gaeltacht?1a. A region of...

More than one-half of working Americans know little or nothing about Medicare costs.1 Not knowing can be expensive. On average, people who haven’t yet retired estimate they’ll spend approximately $50,000 on health care after retirement...

The celebration of Valentine’s Day is attributed to Geoffrey Chaucer who wrote a poem about love and St. Valentine in the 1300s. Although this poem did not mention chocolate, the tasty treats have since become a Valentine’s Day...

How many times did you login to a digital account today? It probably was more than once. Some people access digital sites via computer or tablet, but many others rely on their phones. Deloitte recently reported the essentials of life...

In 1964, Dr. Martin Luther King, Jr. received the Nobel Peace Prize. He accepted the award and took the opportunity to articulate his hope the civil rights movement would be successful, as well as his hope for all mankind:1 “…I must...

In 1964, Dr. Martin Luther King, Jr. received the Nobel Peace Prize. He accepted the award and took the opportunity to articulate his hope the civil rights movement would be successful, as well as his hope for all mankind:1 “…I must...

In 1964, Dr. Martin Luther King, Jr. received the Nobel Peace Prize. He accepted the award and took the opportunity to articulate his hope the civil rights movement would be successful, as well as his hope for all mankind:1 “…I must...

…And, it may have some thorns. There’s something you should know about retirement. It’s not as easy as everyone makes it seem. Remember what life was like when you tied the knot? How about once you had children? Or, when you accepted a...

Holiday Greeting - The Way You Eat in 2017 What can we expect in the New Year? If international food consultancy Baum + Whiteman is correct, we may find ourselves embracing new food trends including:1 • Restaurants without seats. We...

Retirement IncomeHere’s a million dollar question: How will you transform your savings into income that will last throughout your retirement?1There are probably as many answers to that question as there are retirees. However, all...

We hope your holidays will be filled with family, friends, merry-making, and good cheer. One way to ensure a happy holiday season is to stay safe online. Here are a few tips that may help. 1. When using public Wi-Fi at a hotel, coffee...

For about 35 years, investors have enjoyed a bull market in bonds. At the start of 1982, the interest rate on 10-year U.S. Treasury bonds was 14.2 percent. By November 1, 2016, interest rates had fallen to 1.8 percent.1 Since bond...

Thanksgiving is America’s second favorite holiday,1 and it offers something for everyone. You can enjoy family togetherness, feasting, football, school plays, parades, gratitude, and, of course, shopping. If you’re a traditionalist,...