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# The Welch Group

Wealth Management & Financial Planning

## Sitemaps

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## Posts

- [Blog](https://welchgroup.com/blog/)
- [Declare Your Financial Independence Today](https://welchgroup.com/declare-your-financial-independence-today/) - On July 4, 1776, a small band of colonial leaders declared independence from the Kingdom of Great Britain. The American Revolution changed the course of world history forever and launched a nation that no other has since rivaled. In the spirit of the heroes of the American Revolution, would you consider declaring your own revolution…your
- [Beware of Concentrated Stock Positions](https://welchgroup.com/beware-of-concentrated-stock-positions/) - Investors sometimes end up with concentrated stock positions, or too much of one stock in their portfolio, which can be risky. Even though this stock may have the potential for high returns, it can also result in significant losses for the investor. It is essential to be aware of the dangers and learn how to
- [Discovering Purpose and Identity in Retirement](https://welchgroup.com/discovering-purpose-and-identity-in-retirement/) - By The Welch Group Retirement offers more than days spent on a beach or a golf course. It’s an opportunity to redefine your purpose, prioritize your health, and rediscover your identity. After years of hard work, it’s your time to embark on a new adventure of self-discovery that brings fulfillment and joy to every aspect
- [Student Loan Forbearance Ending](https://welchgroup.com/student-loan-forbearance-ending/) - For the past 39 months, student loan borrowers enjoyed a grace period where no principal payments on their loans were required, and interest was not accruing. Unfortunately for these borrowers, this grace period is coming to an end. As of September 2023, student loan borrowers will no longer be granted a grace period where principal
- [Social Security COLA 2026: What Retirees Should Know](https://welchgroup.com/social-security-cola-2026-what-retirees-should-know/) - As 2025 draws to a close, many retirees and Social Security beneficiaries are looking ahead to the anticipated Cost of Living Adjustment (COLA) for 2026. Current projections suggest that the Social Security Administration is likely to announce a COLA increase of approximately 2.6% to 2.7%. Each year, the Social Security Administration calculates the COLA using
- [Getting Ahead of Cognitive Decline: Legal Steps](https://welchgroup.com/getting-ahead-of-cognitive-decline-legal-steps/) - Cognitive decline, particularly from Alzheimer’s disease, is a growing concern for millions. According to the 2025 Alzheimer’s Association annual report, approximately 7.2 million Americans currently live with Alzheimer’s, a number projected to rise sharply over the next 20 years as the population ages. While this progressive disease affects memory and cognitive function, it also creates
- [Getting Ahead of Cognitive Decline: Financial Steps](https://welchgroup.com/getting-ahead-of-cognitive-decline-financial-steps/) - Cognitive decline has become a devastating reality for millions of Americans. This progressive condition, which largely impacts those over the age of 65, not only diminishes memory but can also create complex legal and financial challenges. Without preparation, these pressures can be overwhelming for individuals and their families alike. While legal planning helps establish authority
- [Retirement Ready: Shaping Your Investment Mindset](https://welchgroup.com/retirement-ready-shaping-your-investment-mindset/) - Retirement marks a new chapter both in your life and your financial planning. Without a regular paycheck coming in, how you manage your investments becomes critical. Making mistakes during this stage of life can have lasting consequences, but having the right mindset and strategies in place can help you protect your financial future, generate a
- [Two Trends That Could Put Your Retirement at Risk](https://welchgroup.com/two-trends-that-could-put-your-retirement-at-risk/) - Retirement is supposed to be a time to enjoy what you've worked so hard to build, but this dream is slipping out of reach for many Americans. Two alarming trends are converging – rising debt levels and insufficient retirement savings – creating serious obstacles for future retirees. Here’s what’s happening and what you can do
- [Create a Game Plan to Navigate the 2025 Financial Markets](https://welchgroup.com/creating-a-game-plan-to-navigate-the-2025-financial-markets/) - As we enter 2025, navigating the financial markets calls for careful planning. Over the last two years, we have seen exceptional stock market returns, exceeding 20% annually. While this has sparked a sense of optimism, it is important to remember that history paints a different picture. Instead of chasing recent performance, consider focusing on the
- [5 Key Areas to Focus on for Your 2025 Financial Goals](https://welchgroup.com/5-key-areas-to-focus-on-for-your-2025-financial-goals/) - For me, the beginning of a new year always feels like a fresh start. It’s a chance to reflect on the past year – what you’ve accomplished and what you didn’t – and set meaningful goals for the year ahead. As we dive into 2025, consider these five areas as you create your goals: 1.
- [401(k) Contribution Limit Changes: What's New in 2025](https://welchgroup.com/401k-contribution-limit-changes-whats-new-in-2025/) - Whether retirement is decades away or fast approaching, making the most of the time you have to save is key. As you plan your savings and prepare for your financial future, staying up-to-date on changing contribution limits and tax rules can help you make informed decisions about your retirement savings strategy. Each year, the IRS
- [How Much Should I Contribute to My 401(k)?](https://welchgroup.com/how-much-should-i-contribute-to-my-401k/) - An employer-sponsored 401(k) is one of the most effective tools for building retirement savings, offering tax advantages and, in many cases, employer-matched contributions. Many people recognize the importance of contributing to these accounts if they are available, but one common question we get asked is: “How much should I contribute?” The truth is, there is
- [How to Lower Your Escrow Payment if It Has Increased](https://welchgroup.com/how-to-lower-your-escrow-payment-if-it-has-increased/) - If you’ve noticed an increase in your escrow payment, you’re not alone – many homeowners are experiencing this. Understanding why your escrow payment has increased and knowing how to address it can help you manage your monthly mortgage expenses more effectively. Why Did Your Escrow Payment Increase? Your escrow payments are used to cover property
- [Job Transition Checklist: Key Financial Considerations](https://welchgroup.com/job-transition-checklist-key-financial-considerations/) - Facing a job transition, whether planned or unexpected, can feel overwhelming, especially when it comes to managing your finances. Being prepared with a clear strategy can help you navigate the uncertainties and reduce stress along the way. To help, we’ve created a practical checklist that highlights key steps to consider as you plan for a
- [Navigating Uncertainty with a Long-Term Investment Strategy](https://welchgroup.com/navigating-uncertainty-with-a-long-term-investment-strategy/) - In today’s world, uncertainty has become the norm. With significant political shifts and major economic changes, it’s easy to see why investors often find themselves on an emotional rollercoaster. The market fluctuations can provoke reactions ranging from elation to anxiety. Because fear and emotional responses frequently drive short-term decisions, volatility can strongly tempt investors to
- [How You Can Take Advantage of Volatile Markets](https://welchgroup.com/how-you-can-take-advantage-of-volatile-markets/) - Market fluctuations can make even the most confident investors feel uneasy. When headlines focus on uncertainty, inflation, or declining numbers, it’s normal to feel anxious about your portfolio. However, market volatility doesn’t have to be a setback—it can be a strategic opportunity. So, what’s the secret? How can investors stay calm and even optimistic when
- [Coachella and the Risks of Buy Now, Pay Later](https://welchgroup.com/coachella-and-the-risks-of-buy-now-pay-later/) - Coachella, an annual music and arts festival, might be known for music, fashion, and memorable performances, but this year, it also made headlines for how thousands of attendees paid to get in. As concertgoers flocked to the California desert, many weren’t just spending on tickets, they were financing them. Approximately 60% of attendees used Buy
- [Investing Like Warren Buffett: Timeless Habits for Growth](https://welchgroup.com/investing-like-warren-buffett-timeless-habits-for-growth/) - As Warren Buffett prepares to step down as CEO of Berkshire Hathaway, his decades-long track record is being studied with renewed admiration. While Buffett is regarded as one of the greatest investors in history, the foundation of his success wasn’t magic – it was method. Fortunately, that method was built on habits and principles that
- [How to Evaluate a Job Offer: Beyond Salary](https://welchgroup.com/how-to-evaluate-a-job-offer-beyond-salary/) - If you’ve recently graduated and are stepping into the job market, congratulations! It’s an exciting time, but also one that calls for thoughtful decision-making, especially when it comes to evaluating job offers. I’ll never forget receiving the packet of information from my first job offer and feeling overwhelmed, especially since this was my first time
- [5 Tools to Help Parents Manage Child-Related Expenses](https://welchgroup.com/5-tools-to-help-parents-manage-child-related-expenses/) - Raising children is one of life’s most meaningful experiences—but it’s also one of the most financially demanding. Between daily essentials like food, clothing, and housing, and longer-term expenses like school supplies, extracurriculars, travel, and college savings, the cost of parenting can add up quickly. Many parents understandably want to provide the very best for their
- [Roth IRAs for Teens: A Smart Start with Powerful Potential](https://welchgroup.com/roth-iras-for-teens-a-smart-start-with-powerful-potential/) - Saving for retirement isn’t usually top of mind for teenagers, but starting early with the right tools can make a world of difference down the road. One of the most effective ways for teens to build long-term wealth is through a Roth IRA. With tax-free growth and tax-free withdrawals in retirement, a Roth IRA offers
- [A Beginner’s Guide to Organizing Your Estate](https://welchgroup.com/a-beginners-guide-to-organizing-your-estate/) - One of the greatest gifts you can leave your loved ones is a well-organized estate. When someone passes away without clear plans in place, it can create unnecessary stress, confusion, and delays during an already difficult time. Taking proactive steps today can help ensure your wishes are honored and that your family is supported when
- [Saving for Your Child’s Future: Expanded Options in 2025](https://welchgroup.com/saving-for-your-childs-future-expanded-options-in-2025/) - If you are a parent, you likely dream of giving your child a strong financial start, whether that means paying for college, helping with a first home, boosting their retirement savings, or simply providing extra funds for life’s adventures. The good news? There are many ways to achieve that. However, as with any financial decision,
- [Your Playbook: What Football Can Teach About Money](https://welchgroup.com/your-financial-playbook-what-football-can-teach-about-money/) - As the 2025 football season kicks off, there’s more overlap between the gridiron and sound money management than you might think. Just like a winning team, a strong financial plan requires strategy, discipline, and the right balance of offense and defense. Here are four lessons from the field that can help you move the ball
- [AI-Powered Scams Are on the Rise: How to Stay Protected](https://welchgroup.com/ai-powered-scams-are-on-the-rise-how-to-stay-protected/) - October is Cybersecurity Awareness Month, making it an ideal time to revisit how you protect your personal and financial information online. Today’s digital scams are becoming increasingly sophisticated, with cybercriminals now using artificial intelligence (AI) to create convincing messages that appear legitimate. Many of these scams often involve text messages, emails, and even phone calls
- [Key Reminders for Medicare Open Enrollment 2025](https://welchgroup.com/medicare-open-enrollment-2025-what-to-know-before-you-review-your-coverage/) - Medicare’s Open Enrollment Period takes place from October 15 through December 7. During this time, current Medicare enrollees have the opportunity to review, compare, and make changes to their coverage. This is a crucial window for retirees and those approaching age 65 to ensure their coverage continues to meet their evolving healthcare needs and financial
- [“6-7” Year-End Financial Planning Tips for 2025](https://welchgroup.com/6-7-year-end-financial-planning-tips-for-2025/) - If you’re a parent like me, or a grandparent, you’ve probably heard your kids or grandkids running around the house shouting “6-7!” multiple times a day and at any opportunity that presents itself. I’ve asked people of all ages what it means, and, after a few confusing explanations, I’ve finally accepted two things: I’m officially
- [Financial Lessons from College Football’s Coaching Carousel](https://welchgroup.com/financial-lessons-from-college-footballs-coaching-carousel/) - Every December, the college football world turns into controlled chaos. Rumors fly, coaches jump from one program to another, surprise hires appear out of nowhere, and fanbases refresh social media like it’s an Olympic sport. Whether it’s a rising coordinator landing a big job, a high-profile coach holding a press conference to deny rumors, or
- [12 Year-End Financial Planning Tips: Part 1](https://welchgroup.com/12-year-end-financial-planning-tips-part-1/) - We all know the beloved Christmas carol “The Twelve Days of Christmas,” with its partridge in a pear tree and ever-escalating gifts. This year, let’s borrow the spirit of the song and turn it into something even more valuable: a practical 12-point financial checklist for year-end. In Part 1 of this series, we’ll focus on
- [12 Year-End Financial Planning Tips: Part 2](https://welchgroup.com/12-year-end-financial-planning-tips-part-2/) - In “The Twelve Days of Christmas,” the list keeps growing, much like the financial to-dos that pile up at the end of the year. This year-end financial checklist is designed to turn that growing list into a clear, actionable plan. In Part 1, we shared the first 6 tips to help you stay focused, avoid
- [New Year Financial Reset: A Checklist for the Season Ahead](https://welchgroup.com/new-year-financial-reset-a-checklist-for-the-season-ahead/) - In college football, the end of the season brings a familiar routine: coaches review film, evaluate the roster, make adjustments, and quickly begin preparing for what’s next. The past season, good or bad, becomes a learning tool, not a destination. The start of a new year can serve a similar purpose in your financial life.
- [401(k) Catch-Up Contribution Changes in 2026: What to Know](https://welchgroup.com/401k-catch-up-contribution-changes-in-2026-what-to-know/) - Catch-up contributions can give you a chance to boost your retirement savings, especially if earlier years were focused on family needs, career growth, or major expenses like a mortgage. As of January 1, 2026, 401(k) catch-up contributions for people age 50 and older may work a bit differently than they have in the past. Financial
- [Habits to Help You Build a Better Relationship With Money](https://welchgroup.com/practical-habits-to-help-you-build-a-better-relationship-with-money/) - Valentine’s Day may have come and gone, but it left me thinking about another influential relationship that can shape both your daily life and your future: your relationship with money. For many people, it’s complicated. Money can bring stress, guilt, or even the urge to avoid checking in at all, especially when life is busy
- [Spring Real Estate Market: Your Guide to Buying and Selling](https://welchgroup.com/spring-real-estate-market-your-guide-to-buying-and-selling/) - Spring is the peak season for the residential real estate market. As the weather warms, curb appeal improves, more homes become available, and families aim to relocate before the new school year begins. Buyers motivated by early-year goals or those who receive tax refunds and bonuses often dive into the market during this season as
- [Two Financial Lessons Inspired by Lou Holtz](https://welchgroup.com/two-financial-lessons-inspired-by-lou-holtz/) - The sports world recently said goodbye to coaching legend Lou Holtz, who passed away on March 4th, 2026. His passing has led many to reflect on the lasting impact he made. Holtz was known not only for his success on the field but also for the wisdom he imparted that stayed with people long after
- [What to Know About 401(k) Hardship Withdrawals](https://welchgroup.com/what-to-know-about-401k-hardship-withdrawals/) - A report from Vanguard in 2026 highlights that a record 6% of 401(k) participants withdrew funds from their accounts for financial hardships in 2025. This marks a steady increase from 4.8% in 2024 and 3.6% in 2023. While having access to these funds can serve as an important safety net, withdrawals should generally be considered
- [Borrowing From Your Future: 401k Loans](https://welchgroup.com/borrowing-from-your-future-401k-loans/) - A 401(k) loan can appear to be an easy way to access cash when needed. Unlike a traditional loan, you are borrowing from your own retirement account, and the interest you pay goes back into that account. While this may sound attractive initially, it's essential to fully understand the regulatory landscape and the specific details
- [Protecting Your Personal Information This Summer](https://welchgroup.com/protecting-your-personal-information-this-summer/) - As summer approaches, you might be preparing for vacations, camps, home improvement projects, weddings, graduations, or more time with family. While these activities make the season special, they can also create more opportunities for scammers to catch people off guard. The increase in busyness, along with heightened travel plans and purchases, can make this time
- [Don’t Fill Up on Chips: A Lesson on Opportunity Cost](https://welchgroup.com/dont-fill-up-on-chips-a-lesson-on-opportunity-cost-in-personal-finance/) - Have you ever found yourself at a Mexican restaurant, diving into a basket of chips and salsa before your meal even arrives? While these complimentary snacks are delicious and easy to indulge in, they often leave you feeling hardly hungry enough for your actual meal. This familiar experience offers a crucial lesson in personal finance:
- [Caring for Aging Loved Ones: Your Guide to Early Preparation](https://welchgroup.com/caring-for-aging-loved-ones-the-importance-of-early-preparation/) - Caring for aging parents or family members is a journey often defined by deep affection and significant responsibility. Many people at this stage of life tend to react to situations as they come up, often finding themselves in a rush to collect important documents during a medical crisis. However, a better approach to navigating this
- [Caring for Aging Loved Ones: Navigating Healthcare Options](https://welchgroup.com/caring-for-aging-loved-ones-navigating-healthcare-options/) - Caring for an aging family member can be one of the most rewarding yet challenging experiences. As their care needs shift from occasional assistance to more intensive support, it is essential for caregivers to understand the healthcare landscape. This guide aims to help you make informed decisions and ensure that your loved ones receive the
- [Caring for Aging Loved Ones: Prevent Financial Exploitation](https://welchgroup.com/caring-for-aging-loved-ones-preventing-financial-exploitation/) - As our loved ones age, the responsibilities of caregiving often extend beyond healthcare and daily support. One crucial yet often overlooked aspect of caregiving is financial protection. With a rise in financial exploitation targeting older adults, it's essential for families to be informed and proactive. Understanding Financial Exploitation Financial exploitation occurs when a scammer, whether
- [What to Expect From a Financial Fiduciary](https://welchgroup.com/what-to-expect-from-a-financial-fiduciary/) - Learn what to expect from a financial fiduciary, including their commitment to your best interests, clear communication, and tailored financial strategies.
- [College Planning Checklist: Financial Steps for Parents](https://welchgroup.com/college-planning-checklist-financial-steps-for-parents/) - As the thrill of high school graduation fades, the countdown to college move-in day begins. While your soon-to-be college student busily selects dorm decor and registers for classes, parents have a crucial task at hand: finalizing finances. To help create a smooth transition and avoid last-minute stress or unnecessary fees, here are four essential financial
- [What Investors Should Know About IPOs: SpaceX and Beyond](https://welchgroup.com/beyond-the-spacex-hype-what-investors-should-know-about-ipos/) - The excitement is palpable as investors wait eagerly for the upcoming SpaceX initial public offering (IPO). Given SpaceX’s prominence in the aerospace industry and its pioneering advancements in space exploration, many are considering jumping in. While the allure of a SpaceX IPO, or any high-profile company’s, is strong, it's important for investors to approach such
- [How to Reduce Financial Stress and Take Control of Your Money](https://welchgroup.com/how-to-reduce-financial-stress-and-take-control-of-your-money/) - Financial stress is rarely just about the balance in your bank account. It can affect your sleep, your relationships, your health, and your ability to make clear decisions. When money feels uncertain, it can quickly become overwhelming. The good news is that reducing financial stress doesn’t always require earning more money. Often, it starts with
- [Rising Gas Prices: Practical Ways to Budget and Adjust](https://welchgroup.com/rising-gas-prices-practical-ways-to-budget-and-adjust/) - For most families, few things affect daily life as noticeably as gas prices. Recently, gas prices in the Birmingham area have seen a significant jump, with Alabama’s average exceeding $3.40 per gallon, and the national average surpassing $3.70. These spikes are often driven by global factors beyond our control, such as recent volatility in Middle
- [Why I Became A Financial Advisor](https://welchgroup.com/why-i-became-a-financial-advisor-3/) - Like many people, I have not always had a clear vision of where my career would ultimately lead. I grew up in a family of medical providers, so for a long time, I assumed I would follow a similar path. However, that expectation quickly faded when I realized two things: I don’t particularly handle blood
- [Sweethearts & Spending: A Financial Checklist for Couples](https://welchgroup.com/sweethearts-spending-a-financial-checklist-for-couples/) - Valentine’s Day is a moment to appreciate love and your relationships. While money isn’t the most romantic topic, it is one of the most practical ones because it affects so many of the decisions you make together. This simple financial checklist is designed to help married couples create clarity, work together, reduce surprises, and avoid
- [What to Do With Your 2025 Tax Refund: A Practical Guide](https://welchgroup.com/what-to-do-with-your-2025-tax-refund-practical-guide/) - Why 2025 Tax Refunds May Be Higher If you’re filing your 2025 tax return in early 2026, you may notice your refund looks larger than expected. One reason may be the One Big Beautiful Bill Act (OBBBA), signed into law in July of 2025. This legislation made several Tax Cuts and Jobs Act (TCJA) elements
- [Santa Is Coming… to Markets: What Is the Santa Claus Rally?](https://welchgroup.com/santa-is-coming-to-markets-what-is-the-santa-claus-rally/) - If you’ve followed investment-related media around the holidays, you’ve probably heard a familiar phenomenon: the “Santa Claus rally.” It’s a short, seasonal stretch when stocks often rise. While no market pattern is guaranteed, the Santa rally has shown up often enough historically that investors pay close attention. But what actually drives this trend, and how
- [50-Year Mortgages: Opportunity or Trap?](https://welchgroup.com/50-year-mortgages-opportunity-or-trap/) - Recent press releases have sparked a debate in the financial community regarding proposals for a new 50-year home mortgage option. Supporters argue that the longer term could expand access to homeownership by lowering monthly payments, especially for younger buyers facing high housing costs. However, critics caution that it might lead to borrowers being trapped in
- [The 4th Quarter Playbook: Strategies for Investors in 2025](https://welchgroup.com/the-4th-quarter-playbook-strategies-for-investors-in-2025/) - As we enter the final quarter of 2025, investors face a critical window to review and adjust their portfolios. With the fourth quarter often bringing heightened market volatility, strategic moves can help manage risks and prepare for the year ahead. This playbook outlines steps to help navigate the challenges of portfolio management in Q4 and
- [Tax Relief for Seniors: A New Deduction Available](https://welchgroup.com/tax-relief-for-seniors-a-new-deduction-available/) - On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, introducing provisions that offer financial relief for many senior citizens. The legislation includes an increase to the standard deduction for all taxpayers, as well as a new $6,000 deduction specifically for Americans aged 65 and older. While it falls short
- [Money Market Mutual Funds: Benefits and Risks to Know](https://welchgroup.com/money-market-mutual-funds-benefits-and-risks-to-know/) - With higher interest rates, inflation concerns, and market volatility, many investors are turning to money market mutual funds (MMFs) as a reliable investment option. These funds, which typically invest in short-term, high-quality securities like Treasury bills, certificates of deposit, and commercial paper, are designed to offer a compelling blend of safety, liquidity, and competitive short-term
- [How Recent Graduates Can Build a Strong Résumé](https://welchgroup.com/how-college-graduates-can-create-an-eye-catching-resume/) - Still job hunting after graduation? You’re not alone. Stepping into the professional world with limited experience can be intimidating, especially in a cooling job market influenced by factors like the recent loss of 350,000 federal jobs due to DOGE-related reductions. Since founding The Welch Group over forty years ago, I’ve reviewed hundreds of résumés, interviewed
- [Managing Money After College: 5 Financial Tips For Graduates](https://welchgroup.com/managing-money-after-college-5-financal-tips-for-graduates/) - Graduating from college marks a significant milestone, not just academically, but also financially. For the first time, you may be earning a steady paycheck, making your own spending decisions, and taking full responsibility for bills, debt, and savings. This transition toward financial independence can be both exciting and overwhelming. That's why it's crucial to develop
- [How to Teach Your Kids About Money This Summer](https://welchgroup.com/how-to-teach-your-kids-about-money-this-summer/) - Financial literacy is one of the most important life skills we can teach our children. Understanding how to earn, save, and manage money helps establish a foundation for responsible habits, independence, and confidence as they grow. While money lessons are crucial throughout the year, summer presents a unique opportunity: school is out, routines are more
- [Tariffs and Market Volatility: What Investors Need to Know](https://welchgroup.com/tariffs-and-market-volatility-what-investors-need-to-know/) - If you've been following the news lately, you've likely heard much about tariffs and market volatility. You may be concerned about how these recent changes could affect your investment portfolio. Let's break down what’s happening and how it may impact you: Why Are Tariffs Used? While tariffs may seem like a straightforward economic tool, their
- [Teaching Kids About Finances and Investing: A Parent’s Guide](https://welchgroup.com/teaching-kids-about-finances-and-investing-in-2025-a-parents-guide/) - In a world where financial literacy is increasingly essential, teaching children about finances from a young age can help set them up for a more secure future. This guide explores practical ways to introduce your children to investing and other basic financial principles, using modern, digital tools designed specifically for young learners. Introduce Financial Basics
- [Understanding Stock Market Movements](https://welchgroup.com/understanding-stock-market-movements/) - The stock market can be confusing, especially when prices seem out of sync with economic reality. Markets may even surge during tough economic times or plunge when everything appears stable. So, what’s really going on? To make sense of this dynamic, it’s important to recognize what markets are actually pricing. Markets Price The Future, Not
- [Why Saving Early Could Be the Key to Building Wealth](https://welchgroup.com/why-saving-early-could-be-the-key-to-building-wealth/) - Everyone dreams of achieving financial security, whether that means retiring comfortably, buying your dream home, or simply having peace of mind. But how do you get there? The journey to building wealth can often feel overwhelming, especially since there’s no one-size-fits-all approach. However, there is one factor that plays a bigger role than most people
- [How to Navigate Financial Media Strategically](https://welchgroup.com/how-to-navigate-financial-media-strategically/) - In today’s world, navigating the endless stream of financial news and advice can feel overwhelming. How do you cut through all the noise to find genuinely helpful information? By learning how to approach financial media strategically, you can filter out the distractions and focus on insights that truly matter. Here are some tips to help
- [Open Enrollment Is Here - Should You Consider An HSA?](https://welchgroup.com/open-enrollment-is-here-should-you-consider-an-hsa/) - It's open enrollment season, and as you review your health insurance options, you might see the term "Health Savings Account" or HSA. These accounts are tax-advantaged savings tools designed to help people with high-deductible health plans (HDHPs) manage their healthcare costs more effectively. Are you wondering if an HSA could work for you? Let’s take
- [5 Steps to Help Protect Your Personal Information](https://welchgroup.com/5-steps-to-help-protect-your-personal-information/) - In a world where so much of our personal information is online, keeping it safe is more important than ever. Imagine finding out someone has used your credit or even opened new accounts in your name—that’s what identity fraud can look like, and it can lead to stress and financial losses. The good news? A
- [Managing Cash Flow in Retirement](https://welchgroup.com/managing-cash-flow-in-retirement/) - Retirement is an exciting chapter in life, but managing your money during this time can feel a bit daunting, especially when it comes to larger expenses like vacations, buying a car, or renovating your home. Unlike when you were working, your income in retirement may be fixed, and pulling from your savings or investments can
- [Is a Second Home Right for You? Key Factors to Evaluate](https://welchgroup.com/is-a-second-home-right-for-you-key-factors-to-evaluate/) - Buying a second home can be exciting and feel like a dream come true, but with today’s rising home prices and ongoing upkeep costs, it’s essential to take a step back and evaluate the full picture before diving in. Here are a few key things to consider before making this major decision: Financial Factors Property
- [Major Medicare Changes for 2025: What You Need to Know](https://welchgroup.com/major-medicare-changes-for-2025-what-you-need-to-know/) - With open enrollment for Medicare starting on October 15th, it's crucial to review the changes coming to Medicare plans in 2025. These changes are significant, marking the most substantial updates since Part D plans were first introduced in 2006. Whether you're on a Medicare Part D or Medicare Advantage plan, it's essential to understand these
- [Prepare to Save: Amazon's 2024 Prime Big Deal Days](https://welchgroup.com/your-guide-to-shopping-amazons-prime-big-deal-days-2024/) - Amazon kicks off the holiday shopping season with Prime Big Deal Days on October 8th and 9th – one of the biggest shopping events of the year. With exclusive deals for Prime members, it’s a great time to save big on the items you’ve been eyeing. But with so many deals, how do you make
- [Avoid These Common Cash Management Mistakes](https://welchgroup.com/avoid-these-common-cash-management-mistakes/) - With short-term interest rates still at the highest levels in the past 15 years, managing your cash wisely is more important than ever. Essentially, good cash management involves finding a balance between having enough liquidity for your cash flow needs and generating a reasonable return on your cash. As you fine-tune your cash management strategy,
- [Tackling Your Finances: Insights From the Football Field](https://welchgroup.com/tackling-your-finances-insights-from-the-football-field/) - Football season is back, and fans are gearing up for tailgates, debating big plays, and celebrating wins. But beyond the excitement of touchdowns and tackles, there are striking similarities between the strategies used on the football field and the principles of personal finance. The Game Plan: Assessing Your Position and Setting Goals Just like football
- [Balancing Finances, Purpose, and Legacy in Retirement](https://welchgroup.com/retiring-on-good-terms-balancing-finances-purpose-and-legacy/) - For many, retirement is about freedom – having the time and, hopefully, the monetary resources you need to enjoy life on your own terms. Unfortunately, we too often focus solely on the financial side and overlook many of the other important aspects of retirement. Below are a few tips to help you retire on good
- [Rising Market Concentration: What It Means For You](https://welchgroup.com/the-rise-of-market-concentration-what-it-means-for-you/) - You might have noticed that a few big-name U.S. companies are making up a significant portion of major market indexes. This has sparked concerns among investors about what’s known as “concentration risk.” This trend is particularly evident in the S&P 500 Index, where the top ten companies now account for about 38% of the index’s
- [Conquering Debt: The Avalanche Method](https://welchgroup.com/conquering-debt-the-avalanche-method/) - If paying off your debt feels like an uphill battle, you’re not alone. The process can be overwhelming, but it doesn’t have to be. The key is finding a strategy that works for you, such as the Avalanche Method. Let’s take a closer look at this debt payment strategy to see if it may be
- [Understanding The AT&T Data Breach: Key Steps to Take](https://welchgroup.com/understanding-the-att-data-breach-key-steps-to-take/) - You may have heard about the recent AT&T data breach, which has raised significant concerns regarding customer privacy and data security. This unauthorized access to call and text records has affected virtually all of AT&T’s 100+ million customers. This widespread incident highlights the importance of staying vigilant. Here's a breakdown of what happened and actions
- [Trusts Explained: Revocable vs. Irrevocable](https://welchgroup.com/trusts-explained-revocable-vs-irrevocable/) - Creating a trust is a powerful way to help manage and protect your assets. Both irrevocable and revocable trusts offer distinct benefits. Let's explore how each type works and the differences between the two. Before we get into the details, it is crucial to understand the key terms associated with trusts in general: Grantor: The
- [Becoming a Superstar Employee: Lights On, Lights Off](https://welchgroup.com/lights-on-lights-off-the-key-to-becoming-a-superstar-employee/) - For graduates entering the real world with their first job, wouldn't it be great to know how you can become a superstar to your employer? In my book, 50 Rules of Success, I discuss six habits of superstar employees. While all the rules work together to set you up as a superstar employee, I believe
- [Trusts: A Key Tool For Protecting Your Legacy](https://welchgroup.com/trusts-a-key-tool-for-protecting-your-legacy/) - While there are different ways to transfer assets to the next generation, trusts provide unique advantages that can significantly enhance estate planning strategies. They can offer tax efficiency, protection for beneficiaries, special provisions for those with special needs, and a level of privacy not available with other estate planning tools. For these reasons, many Americans
- [Conquering Credit Card Debt: The Snowball Technique](https://welchgroup.com/conquering-credit-card-debt-the-snowball-technique/) - Debt can feel overwhelming, but the right strategy can help you manage and eliminate it. Each strategy has unique advantages and can be tailored to fit your financial situation. One popular method for paying off debt is the Snowball Technique. Let’s take a closer look: The Snowball Technique The Snowball Technique focuses on paying off
- [The Tax Implications of Selling Your Home](https://welchgroup.com/understanding-the-tax-implications-of-selling-your-home/) - With home prices rising significantly over the past several years, many homeowners are unsure about the tax implications of selling their homes. Fortunately, the Internal Revenue Service (IRS) offers exclusions that can greatly reduce or eliminate the capital gains tax on the sale of your primary residence. Here are the details: Exclusion Amount: One of
- [Understanding Real vs. Nominal Rates of Return](https://welchgroup.com/understanding-real-vs-nominal-rates-of-return/) - Investing can be complex, especially when financial terminology is introduced. One of the key concepts to grasp is the difference between real and nominal rates of return. Understanding this distinction can help investors preserve and grow their wealth effectively over time. What are Nominal and Real Rates of Return? The nominal rate of return is
- [Beware of 'Spaving': Learn How to Save Without Overspending](https://welchgroup.com/beware-of-spaving-learn-how-to-save-without-overspending/) - "Spaving," a blend of "spending" and "saving," is a marketing tactic that often lures consumers into buying more than they need. This strategy appears in promotions like "buy one, get one free," free shipping offers, and bulk purchase discounts. While these deals can provide genuine savings, they frequently lead to unnecessary spending and financial waste.
- [Financial Planning For Your Seventies and Beyond](https://welchgroup.com/financial-planning-for-your-seventies-and-beyond/) - Financial planning in your 70s takes on a new dimension, primarily balancing the need to maintain your lifestyle with the realities of aging. The following addresses the common challenges faced during this stage of life and strategies to help navigate them effectively. Manage Portfolio Risks One of the primary challenges people face in their 70s
- [Financial Planning For Your Sixties](https://welchgroup.com/financial-planning-for-your-sixties/) - In your 60s, the window for planning and preparing for a comfortable retirement is getting shorter. While many people intend to keep working during their 60s and beyond, developing a retirement mindset is important to help protect your finances from being vulnerable to a catastrophic setback. There are a few financial considerations to remember as
- [A Guide to 529 Plans and Alabama's Special Promotion](https://welchgroup.com/a-guide-to-529-plans-and-alabamas-special-promotion/) - On Wednesday, May 29th, the nation celebrated 529 Day, a day dedicated to raising awareness and understanding of 529 plans, a vital tool for education savings. Let’s dive in to learn more about what 529 plans are, their benefits, and an exciting promotion for Alabama residents. What is a 529 Plan? A 529 plan is
- [Financial Planning For Your Fifties](https://welchgroup.com/financial-planning-for-your-fifties/) - With retirement on the horizon for most, your 50s are a pivotal time in your financial journey. Discover how you can prepare for retirement in your fifties.
- [Financial Planning For Your Forties](https://welchgroup.com/financial-planning-for-your-40s/) - Proper financial planning and building wealth in your 40s is crucial for your retirement and long-term financial health. Find out more.
- [Strategic Charitable Giving: Maximize Impact & Tax Benefits](https://welchgroup.com/strategic-charitable-giving-maximize-impact-and-tax-benefits/) - Learn how donating to charities can enhance your financial planning. Explore the benefits of different strategies.
- [What You Need to Know About The AT&T Data Leak](https://welchgroup.com/what-you-need-to-know-about-the-att-data-leak/) - An AT&T security breach has potentially left 73 million users vulnerable to cyberattacks, identity theft, or credit fraud. Here’s what you need to know.
- [The Corporate Transparency Act and Its Impact on LLCs](https://welchgroup.com/the-corporate-transparency-act-and-its-imact-on-llcs/) - The Corporate Transparency Act is changing the way LLCs act in a big way. If you own an LLC, you should be on top of these changes. Find out more!
- [Navigating the Housing Market in 2024](https://welchgroup.com/navigating-the-housing-market-in-2024/) - Dive into the complexities of the 2024 housing market. Explore how rising prices, high interest rates, and personal circumstances can affect your decision to buy a home.
- [Is a Stock Market Correction Looming?](https://welchgroup.com/is-a-stock-market-correction-looming/) - Explore the dynamics of the current stock market environment. Learn more about the importance of portfolio rebalancing, securing short-term cash flow needs, and avoiding impulsive decisions.
- [4 Key Factors to Keep in Mind When Buying a New House](https://welchgroup.com/4-key-factors-to-keep-in-mind-when-buying-a-new-house/) - Uncover key financial insights for purchasing a house this spring including budgeting for a down payment and the importance of credit health & emergency funds.
- [4 Ways to Help Improve Your Credit Score](https://welchgroup.com/4-ways-to-help-improve-your-credit-score/) - Discover ways to help improve your credit score. From fixing errors to smart debt management, learn how to enhance your financial health.
- [Financial Planning in Your Thirties](https://welchgroup.com/financial-planning-in-your-thirties/) - Discover how to set achievable financial goals by 30, start saving for retirement early, and make wise investments. Tailored advice for 30-year-olds.
- [Financial Planning in Your Twenties](https://welchgroup.com/financial-planning-in-your-twenties/) - Navigate your 20s with confidence! Get professional tips on financial planning, smart budgeting, and career strategies to secure your future success.
- [Protect Yourself: Approach Co-signing With Caution](https://welchgroup.com/protect-yourself-approach-co-signing-with-caution/) - Co-signing a loan for a family member or a friend can be a kind-hearted gesture, but it involves substantial risks that should not be ignored. Whether it's for a child's car loan, a student loan, or a friend's business venture, it's important to understand all the possible drawbacks before agreeing to co-sign. To avoid any
- [Navigating The Recent Jobs Report Update](https://welchgroup.com/navigating-the-recent-jobs-report-update/) - Learn what to expect from a financial fiduciary, including their commitment to your best interests, clear communication, and tailored financial strategies.
- [Buy Now, Pay Later: What Consumers Need to Know](https://welchgroup.com/buy-now-pay-later-what-consumers-need-to-know/) - “Buy Now, Pay Later” options have recently resurfaced, but is their popularity warranted or is there more to the story than meets the eye? Find out more!
- [Recent Changes in Federal Law and Old 401(k)s](https://welchgroup.com/recent-changes-in-federal-law-and-old-401ks/) - A recent change in federal law is likely to significantly impact individuals with smaller 401(k) retirement plans left behind at their previous employers. Although the new law is intended to be beneficial, it is essential to note that there may be potential negative consequences that the public should be aware of. The History The landscape
- [Navigating Tax Hikes: A Strategy for High-Income Earners](https://welchgroup.com/navigating-recent-tax-hikes-a-strategy-for-high-income-earners/) - Emphasize the importance of taking immediate action for goal attainment with The Welch Group.
- [A Guide to Setting FAST Goals for 2024](https://welchgroup.com/a-guide-to-setting-fast-goals-for-2024/) - Maximize the benefits from your Alabama tax rebate! Discover eligibility, smart ways to use your $150, and when you will get it. Learn more.
- [New Year, New Resolutions: Setting Financial Goals for 2024](https://welchgroup.com/new-year-new-resolutions-setting-financial-goals-for-2024/) - As 2023 comes to a close, it is important to review our financial goals and create a plan for success in 2024. The economic and financial markets underwent significant changes throughout the past year, so let’s get a head start for 2024 by considering the following financial resolutions: Live Beneath Your Means / Build an
- [6 Things I'm Teaching My Kids About Money](https://welchgroup.com/6-things-im-teaching-my-kids-about-money/) - Maximize the benefits from your Alabama tax rebate! Discover eligibility, smart ways to use your $150, and when you will get it. Learn more.
- [3 Common Financial Habits of Wealthy Families](https://welchgroup.com/3-common-financial-habits-of-wealthy-families/) - As a financial advisor, I often work with successful families who have achieved great wealth through different paths. However, there are some common financial habits that many of these families demonstrate, which seem to have helped them build a foundation for their success. Savings & Investing Take Priority One of the most common and significant
- [Alabama's $150 Tax Rebate 2023](https://welchgroup.com/alabamas-150-tax-rebate-2023-easing-the-stress-of-holiday-debt/) - The State of Alabama, through our state legislators, has passed legislation that provides a one-time tax rebate of $150.
- [Beware: Artificial Intelligence Used to Enhance Scams](https://welchgroup.com/beware-artificial-intelligence-used-to-enhance-scams/) - In a world dominated by technological advancements, the increased use of artificial intelligence (AI) has not only transformed our daily lives but has also ushered in a new wave of sophisticated threats. The use of AI in scams presents an unprecedented danger to individuals everywhere. As AI continues to advance, so do the deceptive schemes
- [Managing Your Holiday Expenses](https://welchgroup.com/managing-your-holiday-expenses/) - With the holidays just around the corner, it’s easy to get carried away by the excitement of the season and overspend. While this may bring short-term joy, overspending can lead to financial difficulties in the future, especially if you’re relying on credit cards. With credit card interest rates exceeding 20% and inflation continuing to be
- [2024 Tax Bracket and Contribution Limit Updates ](https://welchgroup.com/2024-tax-bracket-and-contribution-limit-updates/) - The Federal tax brackets are adjusted for inflation by the IRS each year. These adjustments are made to avoid putting taxpayers in higher tax brackets due to changes in the cost of living. Looking ahead to 2024, the adjustments will be less significant than those made in 2023. However, taxpayers will still experience a relatively
- [The Basics of Long-Term Care Insurance](https://welchgroup.com/the-basics-of-long-term-care-insurance/) - Understanding Long-Term Care Insurance (LTCI) Long-term care insurance (LTCI) is an insurance policy that specifically covers expenses related to long-term care services for individuals who face difficulties in carrying out routine activities due to aging, illness, or injury. Unlike health insurance, Medicare, or Medicaid, LTCI caters to services such as in-home assistance, full-time care, and
- [Are Women Less Confident About Finances Than Men?](https://welchgroup.com/are-women-less-confident-about-finances-than-men/) - According to a recent study conducted by Northwestern Mutual, women belonging to the Gen X age group are significantly less confident about their finances than men in the same age group. Gen X includes people born between 1960 and 1980, which means they are now between the ages of 43 and 58 and are soon
- [Jefferson County Extends Property Tax Freeze Exemption](https://welchgroup.com/jefferson-county-extends-property-tax-freeze-exemption/) - Jefferson County has announced an unprecedented extension to claim the property tax freeze exemption. The exemption freeze period will be valid for 2022 or 2023, depending on which tax year benefits the taxpayer the most. Put simply, this means your property tax value will be frozen at the lowest value when comparing 2022 and 2023 values. This
- [Investing Around Geopolitical Events](https://welchgroup.com/investing-around-geopolitics/) - It is likely that you will experience one or more major world events at some point in your life, such as pandemics or political conflicts. Such events can significantly alter the lives of people across the globe and the environment we live in. Financial security is among the many concerns people often face during these
- [Navigating Your Health Insurance Options](https://welchgroup.com/navigating-your-health-insurance-options/) - Individual Enrollment Opens on November 1st It’s that time of year again when you need to start thinking about securing your health insurance coverage for the upcoming year. The enrollment period for individual health insurance began on November 1st. This is a great opportunity to ensure you have the right coverage to protect your health
- [The Basics of Disability Insurance: Part 3](https://welchgroup.com/the-basics-of-disability-insurance-part-3/) - How Much Is Needed? There are a few steps you can take to understand how much disability coverage is needed for your given situation. While not exhaustive, this list can be a helpful starting point: Assess your income: Start by calculating your current monthly or annual income. Consider all sources of income, including salaries, wages,
- [It's Medicare Open Enrollment Time!](https://welchgroup.com/its-medicare-open-enrollment-time/) - As we near the end of the year, seniors in the United States need to focus on open enrollment for Medicare coverage. The open enrollment period for Medicare runs from October 15th to December 7th every year, and this is your chance to make changes to your Medicare coverage for the upcoming year. In this
- [Age 65? You May Qualify for State Property Tax Exemption!](https://welchgroup.com/age-65-you-may-qualify-for-state-property-tax-exemption/) - I recently received a question from a lady who was curious about whether her 87-year-old mother-in-law qualifies for a property tax exemption. Regrettably, this means her mother-in-law missed the chance to potentially save hundreds or even thousands of dollars over the past twenty-two years. According to information available on the State of Alabama’s website, “If
- [The Basics of Disability Insurance: Part 1](https://welchgroup.com/the-basics-of-disability-insurance-part-1/) - Disability insurance is a vital component of financial planning and risk management, but it's often misunderstood and overlooked. While Social Security disability benefits provide a form of disability insurance, it's essential to understand that there are many types of personally owned disability insurance available. Consider this: the Social Security Administration estimates that one in four
- [How to Protect Your Home Construction Project](https://welchgroup.com/how-to-protect-your-home-construction-project/) - In the past year, there has been a lot of discussion about the rising costs of in-home construction. This has made homeowners realize the importance of reviewing and potentially updating their homeowner’s insurance to ensure they have sufficient coverage. However, there is another tool that is equally significant but less talked about for those looking
- [Life Insurance: Group Term vs. Private Term](https://welchgroup.com/life-insurance-group-term-vs-private-term/) - Most people understand why life insurance is important to their finances – it shifts the financial risk of premature death from the policyholder to the insurance company. However, many people do not understand the types of policies and the protection they provide. So, let’s break it down by looking at two common types: group term
- [The Basics of Life Insurance: Part 2](https://welchgroup.com/the-basics-of-life-insurance-part-2/) - How Much do I Need? Determining the right amount of life insurance coverage can be a daunting task, as there are varying opinions on how much coverage is needed. Some professionals suggest 8x your annual income, while others recommend 12x, or even 20x. The maximum coverage life insurance companies usually offer is around 25x your
- [Are You On Track For Retirement?](https://welchgroup.com/are-you-on-track-for-retirement-2/) - Fidelity Investments has created a set of guidelines to help individuals benchmark their savings progress at different ages throughout their careers. Although the guidelines are broad and individual circumstances may differ, they provide useful markers for tracking one’s savings goals over time. The guidelines are based on your current annual income and are as follows:
- [To Retire or Not... That is the Question](https://welchgroup.com/to-retire-or-not/) - F&G Annuities & Life, Inc. surveyed more than 2,000 pre-retirees and retirees to understand their perception of retirement. Surprisingly, the survey revealed that over 50% of participants decided to postpone retirement or planned to ‘un-retire.’ Many may assume that the primary reason for this is the need for financial support to fund the retirement lifestyle.
- [The Basics of Life Insurance: Part 1](https://welchgroup.com/life-insurance-part-1-the-basics/) - Life insurance is an important piece of financial planning basics, particularly for those who are working towards financial security and independence. Whether you are not quite sure what life insurance is, or you are just curious and want to learn more, the topics below may help you better understand life insurance and how it can
- [Home Equity Lines of Credit: Do's and Don'ts](https://welchgroup.com/home-equity-lines-of-credit-dos-and-donts/) - The Federal Reserve Bank of New York recently published the 2nd quarter Household Debt and Credit Report. For the fifth straight quarter, the report shows an increase in the use of Home Equity Lines of Credit (HELOC). The rise in usage could be the result of consumers feeling more pressure from high inflation and already
- [Taylor Swift and the Time Value of Money](https://welchgroup.com/taylor-swift-and-the-time-value-of-money/) - Taylor Swift’s Eras Concert Tour is taking the country by storm, with hundreds of thousands of concertgoers paying an average of $1,300 to see the renowned music superstar perform. While it’s natural that people are eager to indulge in experiences like concerts and travel after the pandemic, it's important for consumers to remember that spending
- [Helping Adult Children Achieve Independence](https://welchgroup.com/assisting-adult-children-in-achieving-independence/) - According to a recent study conducted by Experian, a national credit reporting agency, 70% of millennial and Gen Z (ages 18-42) participants reported receiving financial support from their parents. Times are undoubtedly tough financially due to higher food, gas, rent, and housing costs. Still, it may be time for parents to use some tough love
- [The Importance of Wills: A Lesson From Aretha Franklin](https://welchgroup.com/the-importance-of-wills-a-lesson-from-aretha-franklins-mistake/) - Aretha Franklin, known as the Queen of Soul, left behind a musical legacy and an important lesson in estate planning. Even after five years of her passing in 2018 due to pancreatic cancer, her children are still settling matters regarding her estate, estimated to be worth $10 million. The reason for the delay was that
- [Estate Planning: When To Include Children](https://welchgroup.com/estate-planning-when-to-include-children/) - Developing a detailed estate plan is a vital component of the financial planning process. Although children are not always consulted during the execution of estate plans, there are some circumstances where they should be involved, or at the very least, informed of the details. Below are a few of these instances: Children Given Responsibilities: When
- [Why I Became A Financial Advisor](https://welchgroup.com/why-i-became-a-financial-advisor-2/) - By Kimberly Reynolds Sometimes life can lead us down unexpected paths. For example, we may set out to pursue a particular career, but through chance or divine intervention, we are presented with a different opportunity. For me, it was important to choose a career that aligned with my passion for serving others and making a
- [Achieving A Comfortable Retirement - Part 2](https://welchgroup.com/achieving-a-comfortable-retirement-2/) - Previously, we discussed the psychological difficulties that retirees may encounter as they strive for a comfortable retirement. We will now concentrate on the challenges of creating and managing a portfolio and the measures that retirees can take to overcome these challenges. Portfolio Positioning When planning for retirement, investors should adjust their portfolio strategy from a
- [Achieving A Comfortable Retirement - Part 1](https://welchgroup.com/achieving-a-comfortable-retirement/) - Planning for retirement can be an overwhelming task, with numerous challenges to overcome. Generally, these challenges fall into two categories: psychological and portfolio management/construction. Over the next few weeks, I will offer guidance on these categories aimed at those who are nearing retirement or already retired. Let's begin by addressing the psychological hurdles: Replacing a
- [How Much Money Do You Need To Be Wealthy?](https://welchgroup.com/how-much-money-do-you-need-to-be-wealthy/) - Charles Schwab & Company recently released its 2023 Modern Wealth Survey, polling a cross-section of Americans and asking the average net worth needed to be among the ranks of the rich. The result was $2.2 million. Almost half of respondents said they feel wealthy today, with an average net worth of only $560,000. Surprising to
- [Inventorying Your Home Could Save You Thousands](https://welchgroup.com/inventorying-your-home-could-save-you-thousands/) - Have you ever thought about what would happen if you lost everything in your home? A few years back, a friend experienced a devastating electrical fire that destroyed their home and all their belongings. Everything was lost, from furniture and china to electronics and family photos. Would any of us be able to recall everything
- [Overlook This Insurance and Risk Financial Ruin](https://welchgroup.com/overlook-this-insurance-and-risk-financial-ruin/) - As summer approaches, it's important to think about the potential risks associated with water sports and other recreational activities. While we previously discussed the importance of homeowners insurance, it's also crucial to remember the value of watercraft insurance. Many people overlook this type of coverage, but it can be essential in protecting your finances in
- [Avoid the Rising Threat of Mail Fraud](https://welchgroup.com/avoid-the-rising-threat-of-mail-fraud/) - Although cyber security issues and digital crime rates are rising, traditional mail fraud is also experiencing a surge. While it used to be limited to specific regions, mail fraud is now becoming more common across northern Alabama, especially in Birmingham. If you become a victim of mail fraud, recovering your losses can be difficult and
- [What I Wish I Had Known About Money When I Was Younger](https://welchgroup.com/what-i-wish-i-had-known-about-money-when-i-was-younger/) - By The Welch Group Having a good understanding of personal finance is crucial to experiencing financial freedom and success. The sad truth is that financial literacy is not typically taught in schools or families, leaving individuals responsible for learning about and implementing sound financial habits throughout their lives, from their first post-college job to retirement.
- [Time to Review Your Homeowner’s Insurance](https://welchgroup.com/time-to-review-your-homeowners-insurance-2/) - In recent years, the expenses related to home construction have significantly increased due to various factors such as the post-Covid stimulus demand and low interest rates. While this may not concern homeowners who are not intending to enhance, expand, or build a new home, individuals with insufficient homeowner's insurance policies are at risk of being
- [Significant Changes in Home Mortgage Lending](https://welchgroup.com/significant-changes-in-home-mortgage-lending/) - Are you aware of the recent changes to mortgage fees by the Federal Housing Finance Agency (FHFA)? Effective May 1st, new rules by the FHFA have adjusted fees to favor lower-income and credit-score individuals, while higher-income and credit-score individuals may experience higher fees. The FHFA oversees both Fannie Mae and Freddie Mac, the two organizations
- [The Banking Crisis: What It Means for You](https://welchgroup.com/the-banking-crisis-what-it-means-for-you/) - You have probably heard rumblings about the ongoing banking crisis across America. Silicon Valley Bank was the first domino to fall on March 10th of this year. Two days later, Signature Bank of New York was closed. Then on May 1st, First Republic Bank of San Francisco was taken over by JPMorgan Chase Bank. Bad
- [Is Now a Good Time to Invest in Stocks?](https://welchgroup.com/is-now-a-good-time-to-invest-in-stocks/) - Last year the stock market was down over 18%. So far this year, stocks are up about 8%, but we face potential headwinds of a recession. Is now a good time to invest? To best answer this question requires a quick review of the stock market's history. In the short term, the stock market can
- [Guarding Against a Weakening US Dollar](https://welchgroup.com/guarding-against-a-weakening-us-dollar/) - Following the Bretton Woods agreement post World War II, and the agreement between the United States and Saudi Arabia in the 1970s to trade oil in US dollars, the US dollar stood alone as the preeminent global currency for almost 80 years. While the United States continues to enjoy this status, concerns are increasing around
- [The Social Security Decision Tree](https://welchgroup.com/the-social-security-decision-tree/) - Social Security Retirement Income has evolved into the foundation of retirement planning for most workers, representing most of the retirement income, on average, for older Americans. Remember that Social Security Retirement Income is subject to cost-of-living increases, making it a very valuable income source for your retirement. This means making the right decision about when
- [There Is Still Time for a 2022 IRA Tax Break](https://welchgroup.com/there-is-still-time-for-a-2022-ira-tax-break/) - Time is fast running out, but you may still be able to score a tax break for 2022 with an Traditional IRA contribution. Here’s what you need to know: For 2022, your maximum contribution limit is $6,000; plus an additional $1,000 if you were age 50 or older in 2022. Eligible couples could save $3,500
- [Beware of the <br> “Risk-Free" Rate!](https://welchgroup.com/beware-of-the-risk-free-rate/) - The recent rise in “risk-free” short-term interest rates has many people reconsidering the risk vs. reward dynamic relative to the stock market. While the increase in yields is welcomed relief compared to the historically low interest rates of the past 15 years, it is important for investors not to lose sight of the primary purpose
- [Retired? Avoid the Cardinal Sin of Investing](https://welchgroup.com/retired-avoid-the-cardinal-sin-of-investing/) - Designing an investment portfolio can be a complex process at any age. It requires consideration of various variables such as risk tolerance, time horizon, and financial goals; however, there is one rule that always holds true for investors: **Rule** Never put yourself in a position where you MUST sell assets when they are down to
- [Strategies To Help Foil Scammers](https://welchgroup.com/strategies-to-foil-scammers/) - One of my tennis buddies relayed a story where hackers had stolen virtually all his private information necessary to open accounts in his name. They proceeded to open bank accounts and credit card accounts across the country. It was a widespread scam attempt. Fortunately, he caught it before losing any money. Scammers constantly evolve tactics
- [Why Banks Fail & How to Protect Your Savings](https://welchgroup.com/why-banks-fail-how-to-protect-your-savings/) - By The Welch Group Banks play a vital role in the economy, providing individuals and businesses with access to cash, credit, and other financial services. Despite their importance, however, banks can fail. And when they do, the effects often cause panic in the wider economic environment. This past week, two major players in the banking
- [Is Your Money at Your Bank Safe?](https://welchgroup.com/is-your-money-at-your-bank-safe/) - Recently, the Silicon Valley Bank (SVB) failed without much warning in a matter of days leaving many bank depositors across the country wondering if their deposits were safe. The good news is that SVB was a member of the Federal Deposit Insurance Corporation (FDIC), which means that deposits of up to $250,000 are protected. However,
- [Over 65? Things to Watch for This Tax Season](https://welchgroup.com/over-65-things-to-watch-for-this-tax-season/) - Filing your taxes can be daunting, but it can also be an opportunity to save money if you know where to look. If you are 65 years old or older, it's important to focus on certain tax areas that can help you reduce your future income tax liability and Medicare expenses. Here are some tax
- [Understanding How to Manage Your Cash Better](https://welchgroup.com/manage-your-cash-better/) - For years, monitoring your cash and cash equivalent accounts was not worth your time as they yielded close to 0% interest. However, the conversation around cash has changed drastically since 2022, and it now pays to understand the difference between checking, savings/money market accounts (MMA), and money market mutual funds (MMF). A few easy adjustments
- [Want to Take the Stress Out of Planning Your Financial Future?](https://welchgroup.com/want-to-take-the-stress-out-of-planning-your-financial-future/) - If you stop to think about the most important things in your life, it’s likely that family, health, and having a sense of purpose rise to the top of your list. Naturally, money is also an important factor that adds to our quality of life—and it’s not to be overlooked. Financial stability can provide the
- [Emergency Savings: “A Receding Tide Lowers All Boats”](https://welchgroup.com/emergency-savings-a-receding-tide-lowers-all-boats/) - Just one year ago, research from the Federal Reserve indicated that a record 68% of households had the cash to cover an emergency expense of $400. Fast forward to today, and a new study by Suze Orman suggests that statistic has reversed…2/3’s of households could not cover an unexpected $400 expense. What gives? Inflation and
- [Did You Miss This $6,935 Tax Credit Opportunity?](https://welchgroup.com/did-you-miss-this-6935-tax-credit-opportunity/) - It is estimated that millions of taxpayers will miss out on the Earned Income Tax Credit (EICT) in 2022, worth up to $6,935. Over 30 million workers in 2022 are eligible for the tax credit worth over $60 billion. Estimates indicate that up to 20% of eligible taxpayers are not aware of this tax credit.
- [Changes to 529 Educational Savings Plans](https://welchgroup.com/changes-to-529-educational-savings-plans/) - In a previous article, we discussed Alabama’s CollegCounts 529 Fund and how the recently passed Secure Act 2.0 offers greater flexibility to account owners in allocating education funds. Let’s now focus on a recent change that allows a portion of unused 529 account assets to be rolled over to a Roth IRA for account beneficiaries.
- [Significant Changes to 529 Educational Savings Plans](https://welchgroup.com/significant-changes-to-529-educational-savings-plans/) - One of the primary concerns for most, after saving for retirement, is education planning. Well, great news! The recently passed Secure Act 2.0 gives savers greater flexibility regarding how they allocate funds accumulated in 529 plans. We’ll review updates to Alabama’s CollegeCounts 529 Fund this week and follow up next week on increased options related
- [Understanding Secure Act 2.0](https://welchgroup.com/understanding-secure-act-2-0/) - Three years ago, the original Secure Act moved the Required Minimum Distribution (RMD) age from qualified pre-tax retirement accounts such as IRAs, 401(k)’s, 403(b)’s, etc., from age 70.5 to age 72. The Secure Act 2.0 passed Congress at the end of 2022 and has made further changes related to pre-tax retirement accounts, qualified charitable distributions
- [Your Guide to Social Security and How it Fits in Your Plan](https://welchgroup.com/your-guide-to-social-security-and-how-it-fits-in-your-custom-plan/) - How much Social Security will I get when I retire? That’s something we would all want to know. Learn more about Social Security’s role in your overall retirement plan.
- [Is It Time to Evaluate Your Advisor?](https://welchgroup.com/is-it-time-to-evaluate-your-advisor/) - Last year was a challenging year for investors, to say the least. The overall stock was on the cusp of a bear market, declining close to 18%. Unfortunately, the bond market did not do much better and was down almost 13%. Good financial management demands that you periodically review and monitor both your portfolio performance
- [Need a Quick Loan at a Competitive Rate?](https://welchgroup.com/need-a-quick-loan-at-a-competitive-rate/) - Access to lending on short notice can be a valuable asset. When we need to borrow money, we often think of traditional lending from a bank. However, one quick source of funds at competitive rates is a margin loan against your investment portfolio. With a margin loan, you put up your personal investment account as
- [A 2023 Investment Outlook](https://welchgroup.com/a-2023-investment-outlook/) - In 2022, the market suffered a hangover after almost 12 years of fiscal and monetary accommodation on the backend of the financial crisis of 2008-09 and Covid-19 in 2020. What brought the party to its end was the emergence of inflation and the Federal Reserve’s response to it via increased short-term interest rates and quantitative
- [Investment Lessons Learned from 2022](https://welchgroup.com/investment-lessons-learned-from-2022/) - With the S&P 500 currently down over 19% and the US Aggregate Bond Index down over 12%, the desire for many investors to move on from 2022 is understandable. But before we do, it's essential to learn lessons from this year's market to avoid repeating the same mistakes in the future. It reminds me of
- [All I Want for Christmas is… to be a Millionaire!](https://welchgroup.com/all-i-want-for-christmas-is-to-be-a-millionaire/) - The dream of becoming a millionaire… Is this just a pipe dream or is it possible? The short answer: it is absolutely possible to become a millionaire. One of the best Christmas presents you can give yourself, and your family is the decision to become a millionaire and start on the steps towards that goal.
- [Why I Became a Financial Advisor](https://welchgroup.com/why-i-became-a-financial-advisor/) - Michael was inspired to become a financial advisor by his father’s example of hard work and customer service. Here’s his story.
- [Great News for Savers in 2023](https://welchgroup.com/great-news-for-savers-in-2023/) - With the end of the holiday season right around the corner, we start looking ahead to a new year and new financial opportunities that can help impact our goals. Now is a great time to begin planning for 2023 and the perfect opportunity for you to save more in tax-deductible retirement plans. For weekly insights,
- [Charitable Giving with Confidence](https://welchgroup.com/charitable-giving-with-confidence/) - One of the best things about being a financial advisor is working with amazingly generous people. Their generosity is displayed in many ways, from the giving of time, expertise, and money. Unfortunately, there are still many who are hesitant to give due to a lack of information about the charities themselves. If you are feeling
- [New Tax Break for Alabamians Over 65](https://welchgroup.com/new-tax-break-for-alabamians-over-65/) - A new tax law signed by Governor Kay Ivey in April of 2022 takes effect on January 1, 2023. The law offers a state income tax exemption of up to $6,000 per individual for distributions made from qualified retirement accounts, such as IRAs and employer-sponsored 401(k) plans, if the taxpayer is age 65 or older.
- [A Better Alabama Through the Gift of Education](https://welchgroup.com/a-better-alabama-through-the-gift-of-education/) - The Number of Failing Schools in Alabama is Rising…How You Can Help a Child Get a Better Education and Not Cost You a Penny? For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the Money Tuesday segment. The updated list of failing schools in Alabama is out, and it
- [Avoid the Double-Dip Minefield of Retirement Savings](https://welchgroup.com/avoid-the-double-dip-minefield-of-retirement-savings/) - In a recent survey from Allianz Life, 54% of adults have reduced or stopped their retirement savings. What’s more disturbing is that the research indicated that 43% are dipping into retirement savings to help pay bills and live a certain lifestyle. This can cause a ‘double-dip’ minefield for retirement savings. First, the stock market is
- [5 Reasons Why Healthcare Professionals Should Not Delay Retirement Planning](https://welchgroup.com/5-reasons-why-healthcare-professionals-should-not-delay-retirement-planning/) - As a healthcare professional, you are trained to help others. But don’t forget to take care of yourself and your finances. Here’s why.
- [Be Prepared for 2023 Tax Changes](https://welchgroup.com/be-prepared-for-2023-tax-changes/) - While inflation continues to be a thorn in the side of consumers, recent tax adjustments by the Internal Revenue Service (IRS) to prevent what the Tax Foundation calls “bracket creep” will provide welcomed relief in 2023. According to the Foundation, bracket creep is defined as a “push into higher tax brackets or a reduction in
- [Eliminate Private Mortgage Insurance (PMI)](https://welchgroup.com/eliminate-private-mortgage-insurance-pmi/) - With inflation putting pressure on consumers, steps to relieve the strain and save money are at a premium. Well, good news! Due to the rapid increase in home values over the last few years, many homeowners now have an opportunity to improve their cash flow by eliminating their Private Mortgage Insurance (PMI). With PMI costing
- [Holding Some Cash? Where to Invest it Now](https://welchgroup.com/holding-some-cash-where-to-invest-it-now/) - It is no secret that the stock market and bond market have both taken big hits this year. The Federal Reserve is on a tear with raising interest rates in an effort to tamp down inflation. So far this year, the Fed has raised rates 5 times, but inflation continues to persist. Last week’s Consumer
- [The Time for Medicare Review is Now](https://welchgroup.com/the-time-for-medicare-review-is-now/) - Are you currently on Medicare or planning to enroll in Medicare this year? Now is the time to act because the open enrollment period is LIVE. It’s always a good rule of thumb to review your current plan to ensure you are on the best plan for your specific health and financial situation. Plus, making
- [3 Ways to Minimize Capital Gains Taxes](https://welchgroup.com/3-ways-to-minimize-capital-gains-taxes/) - You can never fully avoid taxes, but there are some strategies to minimize your capital gains taxes. Learn more here!
- [Understanding IRA to Roth IRA Conversions](https://welchgroup.com/understanding-ira-to-roth-ira-conversions/) - In last week’s article, 4th Quarter investment success, we discussed several ways to position your portfolio for year-end planning. We reviewed strategies that included rebalancing between/within asset classes, tax loss harvesting, and the IRA to Roth IRA Conversion. We’ll now go into additional detail with IRA to Roth IRA conversions, as it is an underutilized
- [4th Qtr. Investment Strategies to Consider](https://welchgroup.com/4th-qtr-investment-strategies-to-consider/) - The broader capital markets struggled through the first three quarters of the year, but despite all the volatility, there are some tactical moves that can help you take advantage of this environment. Depending on your current investment strategy, here are a few potential moves that you can review for 4th quarter success. For weekly insights,
- [Compounding Returns](https://welchgroup.com/compounding-returns/) - Albert Einstein once said, “Compounding interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it”. There is a magic to investing that many people never learn. Unfortunately, this usually results in mediocre financial success at best. In fact, about 97% of all workers never accumulate enough money
- [3 Savings Tips for Young Professionals](https://welchgroup.com/3-savings-tips-for-young-professionals/) - Whether you’re a recent college graduate in your first career job or you have been working for several years, a lot of people are finding it difficult to save for the future. Real-world inflation is making it difficult at the gas pump and grocery store, but less-than-stellar money skills can be the main culprit in
- [Common Investment Mistakes: Avoid the Big “3”](https://welchgroup.com/common-investment-mistakes-avoid-the-big-3/) - While poor investment outcomes can result from a variety of reasons, there are a few common mistakes. The good news is that these mistakes can be avoided with a small amount of planning and discipline. See below the mistakes that I refer to as the “Big 3”: For weekly insights, follow The Welch Group every
- [What You Need to Know About Student Loan Forgiveness](https://welchgroup.com/what-you-need-to-know-about-student-loan-forgiveness/) - By The Welch Group Americans owe more than $1.75 trillion in student loans. Monthly payments for these loans can be overwhelming for many households, and the loans can be amortized for up to 30 years. Borrowers often take advantage of forbearance or deferment plans, which only end up accruing more interest on the loan and
- [Inflation vs. Recession](https://welchgroup.com/inflation-vs-recession/) - What is worse: Inflation or Recession? Many have posed this question to me over the past several months, so I thought it constructive to review their respective attributes and provide context to the challenge facing the U.S. Central Bank/Federal Reserve. First, it is essential to understand that the Federal Reserve has a dual mandate of
- [Money Management: Valuable Lessons for Kids of all Ages](https://welchgroup.com/money-management-valuable-lessons-for-kids-of-all-ages/) - Last week, we discussed how young to start teaching your children the value of a dollar and how to manage it. Now, let's focus on tips to help teach money management skills to the Young Adults in your life. For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the
- [School is in Session! How about a Lesson in Finances?](https://welchgroup.com/school-is-in-session-how-about-a-lesson-in-finances/) - School started this past week for most students. One question I often get is, “When should I begin to teach my children about money?” Every child is different and matures at a different rate. Some mature very quickly, while others more slowly. Here are some basic guidelines, but you will ultimately decide when your child
- [Using Your Home Equity Line of Credit (HELOC)](https://welchgroup.com/using-your-home-equity-line-of-credit-heloc/) - With home equity values at all-time highs and inflation straining the budgets of everyday Americans, it can be tempting for homeowners to utilize the increase in their home’s value over the past few years in the form of a home equity line of credit (HELOC). While the HELOC can be a great source of financial
- [5 Mistakes That Can Have a Ripple Effect in Retirement](https://welchgroup.com/5-mistakes-that-can-have-a-ripple-effect-in-retirement/) - Retirement is just around the corner. Here are 5 mistakes people make early in retirement that can affect you down the line.
- [Social Security Expectations for 2023](https://welchgroup.com/social-security-expectations-for-2023/) - Inflation is at a 40-year high and interest rates keep increasing. However, there is a silver lining in these uncertain times, especially for Social Security Beneficiaries: the potential for a substantial cost of living adjustment in 2023. As of now, projections for the adjustment are as high as 10%, but this may change based on
- [How Would you Feel about 9.62% Guaranteed Interest?](https://welchgroup.com/how-would-you-feel-about-9-62-guaranteed-interest/) - The annual inflation rate accelerated to 9.1% in June, the highest rate we have seen since 1981 when Jimmy Carter rolled out the ‘WIN’ buttons (Whip Inflation Now). This is the worst inflation in over 40 years! Inflation is hard to miss. A tank of gas is approaching $100 and prices of just about everything
- [Why You Should Consider Sending Your RMDs Straight to a Charity](https://welchgroup.com/why-you-should-consider-sending-your-rmds-straight-to-a-charity/) - By The Welch Group We at The Welch Group prioritize giving back to our communities and living generously. If you can relate, you’re as like-minded as our clients. You know that the world goes far beyond just you and your family and you want to leave your mark on it, making a difference when and
- [Did Your Credit Score Just Go Up?](https://welchgroup.com/did-your-credit-score-just-go-up/) - Nearly 60% of bills that are in collection and show up on credit reports are medical-related. As of July 1, the three major credit bureaus made changes in their reporting system that could potentially boost your credit score. Experian, Equifax, and TransUnion stopped reporting medical debt that went to collections and was ultimately paid off.
- [Are We in a Recession? Are you at Risk?](https://welchgroup.com/are-we-in-a-recession-are-you-at-risk/) - The National Bureau of Economic Research (NBER) currently defines a recession as “a significant decline in economic activity across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, etc.” Historically they defined a recession as simply “two consecutive quarters of decline in real Gross Domestic Product
- [Changed Jobs? What Are Your 401(k) Options?](https://welchgroup.com/changed-jobs-what-are-your-401k-options/) - Each year, millions of Americans retire or change jobs. In fact, due to the tight labor market in 2022, Americans have more leverage than in the past with approximately 65% of workers currently looking for alternative opportunities. Regardless of the reason for your employment transition, do not forget about your old employer-sponsored 401(k)’s. According to
- [Declare July 5th as YOUR Financial Independence Day!](https://welchgroup.com/declare-july-5th-as-your-financial-independence-day/) - Yesterday we celebrated the 4th of July (Independence Day) as a nation. It is a great time to remember the sacrifices Americans made to free themselves from British rule and set America on a course to become the greatest nation on earth. For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox
- [Rising Interest Rates: Your Best Financial Moves Now](https://welchgroup.com/rising-interest-rates-your-best-financial-moves-now/) - So far this year, the Federal Reserve has raised interest rates three times for a total of 1.75%. The Fed is widely expected to raise rates as much as 0.75% in their July meeting plus more rate hikes are likely throughout the year. Why? They are trying to avoid runaway inflation by tamping down the
- [Making Sense of Your 401(k) Options](https://welchgroup.com/making-sense-of-your-401k-options/) - For most participating in a company 401(k) plan, it can be difficult to confidently create a portfolio that aligns with one’s financial goals and objectives. The challenges vary from the confusion around expenses to the limited menu of stock and bond mutual fund options; not to mention the illusion of diversification. So how do you
- [2022: The Perfect Storm for Emotional Investment Mistakes](https://welchgroup.com/2022-the-perfect-storm-for-emotional-investment-mistakes/) - Investors with broader stock and bond market index exposure are experiencing unusual amounts of pain in 2022. As of today, the indexes are down approximately 16% and 15% respectively. While the correction in the broader stock market after a 12-year bull run is not surprising, the poor bond market performance is. Investors are accustomed to
- [How to Transfer Wealth to the Next Generation](https://welchgroup.com/how-to-transfer-wealth-to-the-next-generation/) - By The Welch Group One of the goals we have as parents is to leave a lasting legacy for the next generation. Common ways we do this are through our family recipes, heirlooms, and words of wisdom, but another important way is by protecting assets. But how can you ensure you’re leaving the most you Want to pass on your wealth to the next generation? Here’s how to do it the right way.
- [Continuing Education and Student Aid](https://welchgroup.com/continuing-education-and-student-aid/) - Whether you’re the parent of a high-school student who is beginning their college application process or considering going back to school as an adult, the Federal Application for Student Aid (FAFSA) is the first, and one of the most important steps in the process of continuing your education. With the FAFSA deadline for the 2021-2022
- [Going on Vacation? Tips to Protect Your Home](https://welchgroup.com/going-on-vacation-tips-to-protect-your-home/) - As Mayor for the City of Mountain Brook, I get calls and notices when we have the occasional home burglary. And as an owner of a financial advisory company, I see the monetary and emotional toll a home burglary has on the victim. As summer rolls in and we head into the vacation season, here
- [Retirement Planning Checkup:  Don't Overlook These Items](https://welchgroup.com/retirement-planning-checkup-dont-overlook-these-items/) - While focusing most of our time and effort on the intricate details of financial planning, it’s also important not to overlook the big picture: financial planning concepts that are vital for long-term success. Below are some big picture items I find lacking in retirement plans. Follow The Welch Group every Tuesday morning on WBRC Fox
- [How to Recession-Proof Your Portfolio](https://welchgroup.com/how-to-recession-proof-your-portfolio/) - A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. Well, we just had our first negative GDP quarter, and there is much speculation that our next quarter will also be negative…a recession. The stock market has
- [Why a Premarital Agreement Matters](https://welchgroup.com/why-a-premarital-agreement-matters/) - In recent weeks, we have covered topics including Financial Survivorship Basics for Couples and Financial Planning When You Find Love, Again. Today, we will discuss why it is important to consider a premarital agreement. If you are planning to get married, you need to consider the advisability of a premarital (prenup) agreement. This is true
- [Does Renting Make Sense in Today's Market?](https://welchgroup.com/when-renting-makes-sense/) - Last week we discussed principles to abide by when thinking of purchasing a home. First, a quick review of the key points: Establish a cash reserve for unforeseen expenses. Prioritize your savings. DO NOT exceed 28% of gross income AFTER SAVINGS on your mortgage payment. This week, I want to discuss why renting may be
- [Are You Planning to Purchase a Home?](https://welchgroup.com/planning-for-a-home-purchase/) - In the late Fall of 2021, the 30-year fixed-rate mortgage at below 3% offered cheap financing for borrowers looking to purchase, or refinance, a home. However, while the cheap financing seemed like a blessing, the acceleration in home prices was the devil in disguise. Fast forward just a few months, and we see 30-year fixed-rate
- [Helping Disadvantaged Students Just Got Easier!](https://welchgroup.com/helping-disadvantaged-students-just-got-easier/) - The Alabama Accountability Act has been helping disadvantaged young students receive a better education since 2013. Thousands of kids have benefited from this act, and now positive changes are being made to further help students get the education they deserve. The Alabama Accountability Act (AAA) – Here is what is new: Under prior law, AAA
- [Why I Became a Financial Planner](https://welchgroup.com/why-i-became-a-financial-planner/) - By Marshall Clay JD, CFP® How does one choose a career path? For many, the decision involves the excitement of future opportunities, benefits, or flexibility—but for me it was simple: I wanted a career where I could merge my passion for finance with my legal and military experience to have a significant impact on people’s Money isn’t everything, but how you manage it matters. Read about how Marshall Clay helps people with their finances and impacts their lives.
- [Love Again After 50, Don't Make These Mistakes](https://welchgroup.com/love-again-after-50-dont-make-these-mistakes/) - A few weeks ago, we discussed conversations you should have with your spouse when you 'marry again', particularly after age fifty. It included discussions about who should pay what expenses and particularly decisions about who would provide and pay for long-term care. In addition to these conversations, here is a checklist for couples entering into
- [One Way to Combat Inflation? Make More Money](https://welchgroup.com/one-way-to-combat-inflation-make-more-money/) - Over the past several weeks, we have seen financial media flood televisions and the internet with ways people can save/limit consumption to combat the adverse effects of inflation. While this is certainly a worthwhile exercise to make an immediate impact, I want to offer longer-term advice to help people maintain their quality of life and
- [Avoiding Online Phishing Scams](https://welchgroup.com/avoiding-online-phishing-scams/) - Online hacking/phishing scams are becoming more prevalent by the day. In addition to the volume of these scams, the hackers themselves are becoming more brazen and sophisticated in their methods, which requires a heightened sense of alert. Everyone should have their guard up, especially the elderly and those who are not experienced with technology. Follow
- [Financial Planning When You Find Love, Again](https://welchgroup.com/financial-planning-when-you-find-love-again/) - Second marriages can be complicated, especially if children from a previous marriage are involved. Open discussions about financial matters followed by agreed-upon decisions and actions will go a long way in improving the relationship. For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the Money Tuesday segment. If you
- [Subscription Services: Budget Breaker?](https://welchgroup.com/subscription-services-budget-breaker/) - Many factors in our lives have changed since the COVID-19 pandemic began. One of the most significant factors involves convenience in ordering groceries, exercising, or watching television/movies. It is no secret that the pandemic has accelerated the move towards subscription services, making everyday things, like cable T.V., almost obsolete. For weekly insights, follow The Welch
- [Combat Inflation by Owning Assets](https://welchgroup.com/combat-inflation-by-owning-assets/) - Inflation is at the forefront of everyone’s mind as the most recent year-over-year Consumer Price Index (CPI) reading for December came in at 7.1%. The inflation reading was the highest in almost 40 years and is particularly concerning considering the most recent average hourly earnings data showing an increase of only 4.7%. For weekly insights,
- [How to Speed Up Your Income Tax Refund](https://welchgroup.com/how-to-speed-up-your-income-tax-refund/) - The IRS has announced that, due to the COVID-19 pandemic, they will not begin processing income tax returns until January 24th. So if you are expecting a refund, you will want to start the return process as soon as possible. As of December 2021, they had 6 million unprocessed individual income tax returns for 2020.
- [S.M.A.R.T. Goals to Help Shape your New Year's Resolutions](https://welchgroup.com/s-m-a-r-t-goals-to-help-shape-your-new-years-resolutions/) - The changing of the year is often a time when folks think of making their New Years Resolutions (or other positive changes in their lives). Most often those changes usually involve fitness or money. Unfortunately, most people are not great at keeping up with their resolutions throughout the year. For weekly insights, follow The Welch
- [What’s The Deal With Bitcoin?](https://welchgroup.com/whats-the-deal-with-bitcoin/) - The momentous upward move in the price of Bitcoin in late 2020 and early 2021 caused many people to take notice of the cryptocurrency world for the first time. While it is natural for people to be interested in or curious about this new cryptocurrency, it is surprising that people rushed to allocate capital in
- [The Perfect Christmas Gift for a Young Grandchild](https://welchgroup.com/the-perfect-christmas-gift-for-a-young-grandchild/) - Christmas is always a magical time of year for youngsters. They have thoughts of Santa, reindeer, toys, and elves dancing in their heads. So what comes to mind if you are a grandparent thinking of the perfect gift for a grandchild? I would like to suggest the best gift any child can receive…the gift of
- [Financial Survivorship Basics for Couples](https://welchgroup.com/financial-survivorship-basics-for-couples/) - There is a saying: "The only guarantees in life are death and taxes!" While the timing of taxes is well known, death often happens without warning and can put a real financial burden on one's family, especially spouse. Therefore, married couples need to take certain financial measures to ensure an unexpected death does not result
- ['Tis the Season for Tax Efficient Giving](https://welchgroup.com/tis-the-season-for-tax-efficient-giving/) - “It is in giving that we receive,” as the saying goes. Thankfully, charitable giving is alive and well in our country. “Why America Gives” by Classy is a recent study that indicates 84% of donors plan to give at levels equal to or higher than charitable gifts made in 2020. I suspect it helps that
- [What To Do During An Uncertain Stock Market](https://welchgroup.com/what-to-do-during-an-uncertain-stock-market/) - Russia’s invasion of Ukraine has exacerbated an already jittery stock market. It wasn’t too long ago when the Dow peaked at 36,799.65 on Jan 4th, 2022, and has since fallen more than 8%. Likewise, the S&P peaked at 4,796.56 and has fallen more than 10% during that same time. Commentary on Russia’s invasion has run
- [What Should You Do About the Russia–Ukraine Crisis and Market Volatility?](https://welchgroup.com/what-should-you-do-about-the-russia-ukraine-crisis-and-market-volatility/) - By The Welch Group The events of the last few weeks in Ukraine have been stressful and upsetting to many of us. The buildup of Russian forces along the border, rising tensions, and the ensuing attack have caused worldwide shockwaves. People across the globe are understandably concerned and anxious. What’s more, the events have caused
- [Could a Cup of Coffee Cost You $1 Million Dollars?](https://welchgroup.com/could-a-cup-of-coffee-cost-you-1-million-dollars/) - Why is it so hard for Americans to be financially independent? Statistically, less than 3% of Americans ever achieve financial independence, much less financial abundance. For decades, Financial advisors at my firm and I have worked with individuals and families to achieve their financial goals. Over the years, we have noticed certain trends for success.
- [The Great Resignation & Your 401(k)](https://welchgroup.com/the-great-resignation-your-401k/) - There have been many changes since the Covid-19 pandemic began. One of the most significant changes has been the job market, specifically the increase in job resignations and remote positions. In what is now being called The Great Resignation, more people quit their job in November 2021 than in any time in recent history. For
- [What's a Personal Representative of an Estate?](https://welchgroup.com/whats-a-personal-representative-of-an-estate/) - We have had many questions about the role of a Personal Representative (PR) when performing a Last Will and Testament. A PR is appointed to execute and administer a deceased person's Last Will and Testament and assumes a legal fiduciary duty to the estate's beneficiaries, meaning they must act in the beneficiaries' best interests. For
- [Is the 2022 Stock Market Predictable?](https://welchgroup.com/is-the-2022-stock-market-predictable/) - Coming off a record stock market rise in 2021 and then seeing the stock market reach a new high on the first day of 2022, what should you expect for this year? For 2021, the stock market, measured by the S&P 500, gained 27% while the DOW gained 19% (excluding dividends). These are great returns,
- [Financing a Home is Easier than Ever!](https://welchgroup.com/financing-a-home-is-easier-than-ever/) - There is nothing more satisfying than making an investment for your future. One of the most important investments you will make in your life is when you buy a house. When purchasing a home, loans rates are typically less expensive if the home is financed under a conventional loan with mortgage brokerage companies like Fannie
- [Are Series I Savings Bonds Worth It?](https://welchgroup.com/are-series-i-savings-bonds-worth-it/) - One of the biggest concerns currently surrounding markets is inflation and how to defend against it. The search for yield is intense! The Consumer Price Index on all items shows inflation increasing 6% year-over-year, not to mention checking/savings accounts, and most sovereign bonds yield below 2%. One tool that can be effective for your savings
- [PRESS Ahead to Retirement](https://welchgroup.com/press-ahead-to-retirement/) - We are often reminded of the importance of saving for retirement, but why do so many people let the opportunity slip through the cracks? My experience is that, for many people, current lifestyles tend to soak up all the income. The desire is there, but the free cash flow is not. There is a fresh
- [How Credit Scores Are Calculated and Why It Matters](https://welchgroup.com/how-credit-scores-are-calculated-and-why-it-matters/) - Did you know your credit score can be thought of as your credit “report card?” The most recent Square One Financial Foundations blog discussed the In’s and Out’s of Credit and the importance of establishing and maintaining a good credit history, but how do you know if you’re making the grade? Credit scores are calculated
- [Should I Be Scared of the Stock Market?](https://welchgroup.com/should-i-be-scared-of-the-stock-market/) - The frights of Halloween are behind us, but the stock market can still look very scary! YESTERDAY the Dow flirted with an all-time high milestone of 36,000, before ending the day at 35,913. The Dow has elevated drastically throughout history. As a contributor on WBRC Fox 6 for over twenty years, the same question surfaces
- [Financial Exploitation: Protecting the Elderly](https://welchgroup.com/financial-exploitation-protecting-the-elderly/) - As Oscar Wilde once said, “With age comes wisdom.” While that may be true to a degree, it is no secret the unfortunate byproduct of advancing age is the deterioration of one’s physical and mental abilities. While diminishing capacity is obvious in some people, it is more subtle in others, leaving them unprotected and vulnerable
- [What is the Greatest Gift? A Better Education!](https://welchgroup.com/what-is-the-greatest-gift-a-better-education/) - If you could give a child the gift of a great education at no cost to you, would you do it? If your answer is, “Of course I would!” then you need to learn more about the Alabama Accountability Act (AAA). The Alabama Accountability Act (AAA) AAA allows you to redirect a portion of your
- [Navigating Uncertain Markets](https://welchgroup.com/navigating-uncertain-markets/) - The uncertainty in the current market environment gives us many things to think about, and it can be challenging to make sound financial judgments. With the continuous drumbeat of concern over political disputes, Federal Reserve monetary/interest rate policy, inflation, and Covid-19, it can be difficult to know how best to allocate ones’ capital. In times
- [Save Cash with this Tax Strategy](https://welchgroup.com/save-cash-with-this-tax-strategy/) - A lot of people make donations to their favorite charity or religious organization. And in most cases, the individual writes a check and, hopefully, takes a charitable tax deduction when it is tax-filing time. An often-forgotten tax strategy is the Qualified Charitable Deduction (QCD). The QCD is a different take on securing a tax benefit
- [FEMA Continues Reimbursement for COVID-19 Related Funeral Expenses](https://welchgroup.com/fema-continues-reimbursement-for-covid-19-related-funeral-expenses/) - For the first time in over 100 years, the State of Alabama had more deaths than births for the calendar year 2020. The unofficial numbers are 57,641 births and 64,714 deaths, of which 7,182 deaths were attributed to COVID. In total, nearly 14,000 Alabamians have died by COVID. COVID deaths have devastated many families in
- [AL Property Tax Exemption: Do You Qualify?](https://welchgroup.com/al-property-tax-exemption-do-you-qualify/) - The housing market has gone through the roof over the past year. Home sales in hot markets often sell within the first day for prices well above the asking price. Guess what is next? Higher property taxes! Many people over the age of sixty-five don’t realize or forget that they are likely eligible for an exemption
- [Borrow on a 30-Year Mortgage and Invest the Difference?](https://welchgroup.com/borrow-on-a-30-year-mortgage-and-invest-the-difference/) - On the popular social media site, Tik Tok, a recently circulated video has gained a lot of notice. Its premise is that a smart financial move is to take out a 30-year mortgage on your home instead of a 15-year mortgage and invest the difference. The video distinguishes between a 15- year mortgage and a
- [Time To Review Your Homeowner's Insurance](https://welchgroup.com/time-to-review-your-homeowners-insurance/) - The catastrophic damage in Louisiana and throughout the Northeast caused by Hurricane Ida is an important reminder of the value of homeowners insurance. According to the Insurance Information Institute, 2019 reported that 5.1% of insured homes had a homeowner's claim. 97% of those claims were attributed to property damage, and 3% were losses from liability
- [The Eviction Moratorium Ends](https://welchgroup.com/the-eviction-moratorium-ends/) - The eviction moratorium was established early in the Covid-19 pandemic to provide relief for those struggling to pay rent due to the impact of Covid related health and financial issues. The initial moratorium technically expired on July 31, 2021, but the Centers for Disease Control (CDC) attempted to extend it without the proper legal authority
- [The In's and Out's of Credit](https://welchgroup.com/the-ins-and-outs-of-credit/) - In recent SquareOne Financial Foundations blogs, we reviewed topics focused on saving for emergencies and retirement, but now let’s shift gears and dig into one of the most critical yet most misunderstood components of your financial life—credit. What is credit anyway? Simply put, credit is one’s capacity to borrow money or gain access to goods
- [The Million Dollar 401(k) Plan](https://welchgroup.com/the-million-dollar-401k-plan/) - Fidelity Investments recently completed a review of their 401(k) and IRA account holders and found that the number of accounts crossing above the $1 million value mark compared to 2020 rose by 74%...over 750,000 account holders. Can you use your 401(k) plan to become a millionaire? The answer is Yes, and to help you get
- [Umbrella Liability Insurance - How Much is Enough?](https://welchgroup.com/umbrella-liability-insurance-how-much-is-enough-2/) - It was a blue-sky Colorado day as my clients were driving to the airport after a week of snow skiing when they hit a patch of ice, causing their car to veer into the oncoming lane. Fortunately, my clients and their children had buckled their seatbelts…unfortunately, the two ladies in the oncoming vehicle had not.
- [How Much Wealth Do I Need?](https://welchgroup.com/how-much-wealth-do-i-need/) - COVID has caused Americans to rethink what it takes to be considered 'wealthy.' Charles Schwab and Company recently completed its annual Modern Wealth Survey of 1,000 Americans. Their findings concluded that one needs $1.9 million in personal net worth to be considered wealthy. That number is down from the pre-COVID definition of wealthy at $2.6
- [The Why & How of Credit Freezes](https://welchgroup.com/the-why-how-of-credit-freezes/) - One of the primary ways people fall victim to financial fraud is from someone stealing their personal data and secretly opening credit in their name. The best safeguard against this is by placing a permanent credit freeze with the three primary credit bureaus TransUnion, Experian, and Equifax. In order to open new credit, a review
- [Conventional Home Loans Getting Cheaper](https://welchgroup.com/conventional-home-loans-getting-cheaper/) - In December of 2020, Fannie Mae and Freddie Mac, the two largest government-controlled mortgage companies, which purchase half of all mortgages in the US, applied an additional 0.5% fee to all of their conventional loan purchases. The fee, intended to reduce Covid-19 and the housing market risks, added approximately $1,400 in costs to an average
- [Saving for Retirement Without a 401(k)](https://welchgroup.com/saving-for-retirement-without-a-401k/) - Our last SquareOne blog covered retirement savings for individuals with defined contribution retirement plans through their employer – the 401(k) with the Employer Match. However, suppose you are one of the 36% of private industry workers whose employer does not offer a defined contribution plan. In that case, you may be looking for options on
- [Winning The Retirement Game](https://welchgroup.com/winning-the-retirement-game/) - Could delaying Social Security be the key to winning the retirement game? For many couples, the answer is a definite "Yes." For most pre-retirees, the full SS retirement age is sixty-six (and a few months). That is the age when you can receive your full benefits based on your work history. However, you can begin
- [Wealth Creation Made Easy: Part II](https://welchgroup.com/wealth-creation-made-easy-part-ii/) - Last week's article, Wealth Creation Made Easy, discussed a few time-tested rules to help you achieve significant wealth. The article highlighted three areas - that should you have consistent success in achieving, will provide you with a framework in creating wealth. Let's take a deeper dive and discuss a few additional thoughts to make following
- [Wealth Creation Made Easy](https://welchgroup.com/wealth-creation-made-easy/) - What does it mean to be wealthy? While there is no right or wrong answer, a recent 2021 survey conducted by Charles Schwab suggests Americans believe $1.9 million in net worth qualifies as wealthy. While most consider accumulating this kind of wealth a herculean task, only reserved for a select few, the truth is anyone
- [Winning the Psychology of Retirement](https://welchgroup.com/winning-the-psychology-of-retirement/) - PIMCO is a leader in fixed income markets with more than $2 trillion of assets under management. They recently completed a study involving 750 wealthy investors who were either near retirement or already retired. The research focused on the changing psychology of retirees versus the 'numbers'…how much money you need to retire and how much
- [Ask the Right Questions of Your Financial Advisor](https://welchgroup.com/ask-the-right-questions-of-your-financial-advisor-2/) - If you want to achieve financial freedom by retirement age or earlier, you are going to have to invest a lot of money. To invest successfully, you will need to spend the time learning how to invest or hand over at least a portion of the responsibility to a professional investment advisor. Choosing an advisor
- [Make the Most of your 401(k) with the Employer Match](https://welchgroup.com/make-the-most-of-your-401k-with-the-employer-match/) - In our previous SquareOne blog, we discussed the power of the time value of money. Now that we understand the benefits of compound interest, we want to look at ways to kickstart your retirement savings goals. Approximately 64% of all private industry workers have access to a defined contribution retirement plan, such as a 401(k)
- [Make Retirement as Good as Advertised](https://welchgroup.com/make-retirement-as-good-as-advertised/) - The conversation surrounding the transition to retirement is often limited to its financial aspects. While finances are certainly a big part of the retirement equation, other non-financial considerations should not be neglected. For most, a job is more than just a means to a financial end, but something providing purpose and a sense of belonging
- [Make Better Use Of Your Cash](https://welchgroup.com/make-better-use-of-your-cash/) - One of the biggest frustrations for savers over the past year is the reduction in the amount of interest they are receiving in checking and savings accounts. While this is not a tremendous problem in and of itself, the recent concerns surrounding inflation exacerbate the problem when potential losses of purchasing power add to the
- [Combining A Roth IRA With An Emergency Fund](https://welchgroup.com/combining-a-roth-ira-with-an-emergency-fund/) - The basic building blocks for successful personal finances are creating an adequate emergency fund and consistently saving for retirement. In this week’s article, we look at a rule that allows investing in a Roth IRA account and use it as a part of your emergency funds if needed. As a refresher, you can learn more
- [Is Your "Safe" Money Safe?](https://welchgroup.com/is-your-safe-money-safe/) - Recently a company based out of California that promotes buying gold suggested that banks no longer provide FDIC insurance for your savings and deposits. This misinformation has lead to a lot of angst for depositors, so I thought it was a good time to discuss your 'safe' money. For the broad general public, there are three
- [Improving Decision Making](https://welchgroup.com/improving-decision-making/) - Making sound decisions can be difficult, particularly during the kind of uncertainty our country and economy are currently experiencing. Whether you are making investment decisions or leading a family, business, non-profit, etc., the decisions you make in these roles have short, near, and long-term ramifications for many. While most of our daily decisions are made
- [Let's Talk About Time Value of Money](https://welchgroup.com/lets-talk-about-time-value-of-money/) - So far in our SquareOne Financial Foundations blog, we have discovered the importance of saving for emergencies and the different options to earn better interest rates on emergency savings funds. Before we jump into saving for retirement and paying off debt, let's take a moment to examine one of the most important lessons you can
- [Summer Vacation Success](https://welchgroup.com/summer-vacation-success/) - With the COVID vaccination rate rising, more and more people are planning a long-overdue summer vacation. Of course, you deserve to have fun this summer but don't throw financial caution to the wind. Here are some tips to help keep your finances on track this summer: Skip payment options. You may have received notice from
- [Taking Advantage of the Roth IRA/401k](https://welchgroup.com/taking-advantage-of-the-roth-ira-401k/) - The Roth IRA/Roth 401k is one of the best ways to accumulate and preserve wealth, but perhaps the least understood. A Roth, funded by after-tax contributions, has many appealing attributes, including tax-free growth and tax/penalty-free withdrawals if over the age of 59½, and the withdrawals are at least five years after your first contribution to
- [Summer Job Success](https://welchgroup.com/summer-job-success/) - Applying for your first job this summer? Follow these tips to prepare for your first job and learn steps to take to make the summer a success.
- [Low Mortgage Rates: Love Them Or Hate Them](https://welchgroup.com/low-mortgage-rates-love-them-or-hate-them/) - According to a leading measure of U.S. residential real estate prices, the S&P CoreLogic Case-Shiller Home Price Index, home prices rose 11.2% year over year in January. With a limited supply of new homes on the market, increased demand from ultra-low interest rates, and stay-at-home dynamics due to Covid-19, the conditions are perfect for higher
- [Where To Keep An Emergency Fund](https://welchgroup.com/where-to-keep-an-emergency-fund/) - Our last SquareOne blog discussed the minimum amounts of emergency funds to be saved based on your unique situation. We also established some guidelines for how much cash you should set aside for unexpected life events that can significantly impact your financial well-being. This week, we’ll discuss the types of accounts you can use to
- [Two Surprises From The American Rescue Plan](https://welchgroup.com/two-surprises-from-the-american-rescue-plan/) - By now, if you are eligible, you have likely received your $1,400 stimulus check as promised under the $1.9 trillion America Rescue Plan (ARP). For additional information on the ARP, review last week’s article CLICK HERE. If you have not received your check, visit www.IRS.gov, or follow the direct link to GetMyPayment. With the ARP,
- [Three Stimulus Check Questions](https://welchgroup.com/my-stimulus-check-three-questions/) - Stimulus checks began going out on March 17th as part of the $1.9 trillion American Rescue Plan Act of 2021. Here is a summary of what you might expect to receive: $1,400 per individual. $1,400 stimulus payment for Joint filers with AGI under $150,000; single filers under $75,000. Joint-filer phaseout = $160,000; single-filer phaseout =
- [Don't Sleep On Deflation](https://welchgroup.com/dont-sleep-on-deflation/) - With a promising vaccination answer to the Covid-19 pandemic in sight, economic activity is on the rise, and trillions of dollars in fiscal stimulus are coming to aid the recovery effort. There is certainly reason for optimism about the near-term future of the economy. However, the economy's seemingly good news is not necessarily good news
- [Avoid The Financial Curse of Comparison](https://welchgroup.com/avoid-the-financial-curse-of-comparison/) - Why do we feel the need to compare ourselves to others? The obvious answer is that we feel it provides us a “benchmark” to formulate future choices and behaviors. But why do we allow others to drive our actions? Why not establish our own internal benchmarks and be content with our ability or inability to
- [Secret Roth IRA Strategy](https://welchgroup.com/secret-roth-ira-strategy/) - The taxman keeps coming… A couple of years ago, congress stealthily changed the law for most owners of retirement plans. Under the old law, if you left your IRA to a person, generally, they were allowed to withdraw the money 'slowly' over their life expectancy (popularly called a Stretch IRA). For most people, this meant
- [How Much Should Be In My Emergency Fund?](https://welchgroup.com/how-much-should-be-in-my-emergency-fund/) - In our last SquareOne blog, What’s The Deal With Emergency Funds? we discussed what an emergency fund is and what it is not, but you might be wondering how much cash you should have set aside. If you crack open a personal finance textbook, the most common answer you will see is “three to six months
- [New PPP Loans Focus on Smallest Business Owners](https://welchgroup.com/new-ppp-loans-focus-on-smallest-business-owners/) - According to the Wall Street Journal, the federal government will offer a revised PPP (Paycheck Protection Program) loan program tailored specifically to small business owners with less than 20 employees. The goal is to focus on access to PPP loans for small companies, including minority-owned businesses and businesses within underserved communities that may not have
- [Financial Fraud: Could It Happen To You?](https://welchgroup.com/financial-fraud-could-it-happen-to-you/) - Financial Fraud is rampant and sophisticated. In the past six months, I know of five cases close to home where people were almost victims of financial fraud. An overview of some of the types of financial fraud shows just how sophisticated and widespread the attacks are. Some cases involve a scammer hacking into a person's email.
- [What’s The Deal With Emergency Funds?](https://welchgroup.com/whats-the-deal-with-emergency-funds/) - If you spend any amount of time researching personal finance, you probably hear a lot of talk about the importance of an emergency fund. You may have even read the recent article Is Your Safety Net Sufficient? from our partner, Marshall Clay, about the importance of a safety net. According to GoBankingRates, you might be
- [Financial Contingency Planning for Retirees](https://welchgroup.com/financial-contingency-planning-for-retirees/) - Learn how to create a contingency plan as part of your financial planning for retirement. Contact The Welch Group to create a plan for your future.
- [Supercharge Your 401k for 2021](https://welchgroup.com/supercharge-your-401k-for-2021/) - Background In March of 2020, COVID-19 became a wide-spread news story that sent the stock market down by more than 30% in what most investors thought was the beginning of a disastrous year. But it managed not only to rebound but set new highs. As we begin 2021, the stock market continues to set new
- [Avoid These Three Retirement Mistakes](https://welchgroup.com/avoid-these-three-retirement-mistakes/) - Planning for retirement is challenging enough without making a big mistake. It takes a lot of money for most people if they want to maintain a retirement lifestyle like what they had while they were working. Here are three common assumptions many people make that are often incorrect and can be devastating to your retirement plans:
- [Do You Have A Will?](https://welchgroup.com/do-you-have-a-will/) - Forty-six-year-old Tony Hsieh was the CEO of Zappos, the popular online shoe and clothing company that became famous for its 'no-shipping costs' service strategy.
- [Is Your Safety Net Sufficient?](https://welchgroup.com/is-your-safety-net-sufficient/) - An unfortunate reality today is the staggering amount of people living paycheck to paycheck without a proper emergency cash reserve, or safety net, to get them through times of financial instability. A recent CNBC article stated that since the Covid-19 pandemic began, approximately 63% of Americans live paycheck to paycheck, and approximately 80% of Americans
- [Investing: A Game of Probabilities](https://welchgroup.com/investing-a-game-of-probabilities/) - One of the hardest things for many to understand about investing is the fact there are no certainties. Investing is a probabilities game, and we must continuously attempt to allocate capital in a way that gives us the highest probability of success over the short, near, and long term. There are various techniques used to
- [Navigating the Stock Market: 2026 Mid-Year Review](https://welchgroup.com/navigating-the-stock-market-2026-mid-year-review/) - As we reach the midpoint of 2026, the stock market paints a compelling picture of both resilience and volatility. As of June 24, the S&P 500 has posted a gain of approximately 8-9%. However, this impressive figure masks some underlying turbulence, particularly a notable correction in late March, which saw the index drop by 7%
- [The Christmas Gift](https://welchgroup.com/the-christmas-gift-december-25-2011/) - Today, Christians throughout the world celebrate the birth of Jesus Christ and His promise of everlasting life for those who choose to follow His word. Too often we get caught up in the busyness of the holiday season and miss its true meaning. Each of us is fortunate to live in this great country where we experience | Archive
- [Five Questions For Big Goals In 2021](https://welchgroup.com/five-questions-for-big-goals-in-2021/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services. | Archive
- [Tis the Season of Giving](https://welchgroup.com/tis-the-season-of-giving/) - No doubt about it, December has everyone in the giving mood. People are busy buying and exchanging gifts, acknowledging friendships and the love of family members. Giving can also be smart tax planning while providing much needed support for those less fortunate in our community. Here’s a summary of the most popular ways people give and get
- [“Year-End Tax Planning- Trump Style”](https://welchgroup.com/year-end-tax-planning-trump-style/) - The surprise election of Donald Trump has turned year-end income tax planning on its ear. Virtually everyone assumed that Hillary would win the election and she promised higher taxes on the highest income earners while trimming deductions. With Trump, the focus is on lower taxes in 2017 and this opens tax strategies you should consider
- [I Can Predict Your Financial Future](https://welchgroup.com/i-can-predict-your-financial-future/) - After thirty-something years working with people and their finances, I have developed an uncanny ability to predict their financial future…usually after as little as a five-minute visit. I can even do it if I’ve never met you. Here are my predictions for your success in 2019: I predict… that if you set financial goals for
- [4th Quarter Investment Mindset: Focus on Tax](https://welchgroup.com/4th-quarter-investment-mindset-focus-on-tax/) - As we enter the 4th quarter of 2020, uncertainty remains in capital markets related to Covid-19, elections, etc. While much attention is often paid to financial issues outside our control, investors should focus their energy on tax efficiency areas, which are within their control. Additionally, with potential tax increases/changes resulting from the November elections, emphasis
- [It's November 3rd; Who Wins?](https://welchgroup.com/its-november-3rd-who-wins/) - This presidential election could very well be a flashback to the 2000 presidential election of Bush versus Gore. Does anybody remember the ‘hanging chads’? Bush was declared the early winner, but the Democrats contested the race, which was finally declared in Bush’s favor by the U.S. Supreme Court on December 12, 2000. With an unprecedented
- [What Do You Keep in Your Safe Deposit Box?](https://welchgroup.com/what-do-you-keep-in-your-safe-deposit-box/) - In a world of electronic recordkeeping and legal digital signatures, bank safe deposit boxes are a bit old-school. However, they still exist, and many people still depend on them for the safekeeping of a variety of items important to them. There are some items people often keep, but should not, in their safe deposit box
- [Investing: A Game of Probabilities](https://welchgroup.com/investing-a-game-of-probabilities-2/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services.
- [Combining A Roth IRA With An Emergency Fund](https://welchgroup.com/combining-a-roth-ira-with-an-emergency-fund-2/) - One of the most prominent mistakes families and individuals make is not having an adequate emergency fund. It is also important that workers save for their retirement in their employer’s 401k, an IRA, or Roth IRA. Stewart joined the Money Tuesday segment to discuss a strategy that would benefit both. Please Note: No portion of
- [The Why and How For Credit Freezes](https://welchgroup.com/the-why-and-how-for-credit-freezes/) - One of the primary ways people fall victim to financial fraud is from someone stealing their personal data and secretly opening credit in their name. One of the best safeguards against identity theft issues is using a credit freeze with the three primary credit bureaus. Stewart joined Money Tuesday to talk about the benefits of
- [Eviction Moratorium Ends](https://welchgroup.com/eviction-moratorium-ends/) - With the recent Supreme Court decision to end the eviction moratorium, there are a lot of questions for renters and landlords. Marshall joins Money Tuesday to discuss rental assistance options that are available now. The following video presentation by The Welch Group, LLC (“Welch”) is intended for general information purposes only. No portion of the
- [Year End Tax Planning Checklist- 12/9/07](https://welchgroup.com/year-end-tax-planning-checklist-12-9-07/) - Year End Tax Planning Checklist- 12/9/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/9/07 Year End Tax Planning Checklist 12/9/07 “Year-End Tax Planning Checklist” 12/9/07 With 3 weeks remaining in 2007, now is the time to take one final look to see how you can cut your income tax bill.
- [What is Financial Planning? 11/4/07](https://welchgroup.com/what-is-financial-planning-11-4-07/) - What is Financial Planning? 11/4/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 11/4/07 What is Financial Planning? 11/4/07 “What Is Financial Planning?” 11/04/07 Over the past thirty-plus years the business of financial planning has matured into a mainstream profession. Today there are more than 56,000 professionals who hold the Certified
- [Tis the Season to be Frugal -11/25/07](https://welchgroup.com/tis-the-season-to-be-frugal-11-25-07/) - Tis the Season to be Frugal -11/25/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 11/25/07 PASTE TITLE HERE 11/25/07 ‘Tis the Season to be Frugal' 11/25/07 Thanksgiving marks the beginning of the holiday spending season. To make sure you don't overspend this year and end up starting out next
- [Tis the Season of Giving- 12/23/07](https://welchgroup.com/tis-the-season-of-giving-12-23-07/) - Tis the Season of Giving- 12/23/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/23/07 Tis the Season of Giving 12/23/07 “Tis the Season of Giving” 12/23/07 No doubt about it, December has everyone in the giving mood. People are busy buying and exchanging gifts, acknowledging friendships and the love of
- [The Hidden Tax You May Owe -11/18/07](https://welchgroup.com/the-hidden-tax-you-may-owe-11-18-07/) - The Hidden Tax You May Owe -11/18/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 11/18/07 The Hidden Tax You May Owe 11/18/07 “The Hidden Tax You May Owe” 11/18/07 As many as twenty-five million middle income Americans are likely to feel the pain of a hidden tax in 2007. The
- [The Heart of Christmas on a Shoestring Budget 12/17/06](https://welchgroup.com/the-heart-of-christmas-on-a-shoestring-budget-12-17-06/) - The Heart of Christmas on a Shoestring Budget 12/17/06 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/17/06 The Heart of Christmas on a Shoestring Budget 12/17/06 “The Heart of Christmas on a Shoestring Budget” 12/17/06 With only a few days left until Christmas, you're probably busy with last minute shopping.
- [The Christmas Gift 12/24/06](https://welchgroup.com/the-christmas-gift-12-24-06/) - The Christmas Gift 12/24/06 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/24/06 The Christmas Gift 12/24/06 “The Christmas Gift” 12/24/06 Tomorrow is one of the most important days of the year for people of the Christian faith as we celebrate the birth of Jesus Christ and His ultimate gift of
- [Real Estate's Silver Lining- 12/16/07](https://welchgroup.com/real-estates-silver-lining-12-16-07/) - Real Estate's Silver Lining- 12/16/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/16/07 Real Estate's Silver Lining 12/16/07 “Real Estate's Silver Lining” 12/16/07 Open any major publication or tune into any national news program and you'll be bombarded with negative stories about the real estate housing market in America. There's
- [Medicare Part D Drug Plans Deadline Looms -12/2/07](https://welchgroup.com/medicare-part-d-drug-plans-deadline-looms-12-2-07/) - Medicare Part D Drug Plans Deadline Looms -12/2/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/2/07 Medicare Part D Drug Plans Deadline Looms 12/2/07 “Medicare Part D Drug Plans Deadline Looms” 12/2/07 Once again it is the open enrollment period for the 2008 Medicare Part D Drug Plans. If
- [Make 2007 Your Best Year Ever 12/31/06](https://welchgroup.com/make-2007-your-best-year-ever-12-31-06/) - Make 2007 Your Best Year Ever 12/31/06 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/31/06 Make 2007 Your Best Year Ever 12/31/06 “Make 2007 Your Best Year Ever!” 12/31/06 Last week, I extolled the value of listing the successes of the past year as well as taking time to count
- [Keeping This Year's New Year's Resolutions- 12/30/07](https://welchgroup.com/keeping-this-years-new-years-resolutions-12-30-07/) - Keeping This Year's New Year's Resolutions- 12/30/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/30/07 Keeping This Year's New Year's Resolutions 12/30/07 “Keeping This Year's New Year's Resolutions” 12/30/07 How many of you have made a New Year's resolution only to break it within a few weeks or months? I
- [Drop Dead Deadlines 12/10/2006](https://welchgroup.com/drop-dead-deadlines-12-10-2006/) - Drop Dead Deadlines 12/10/2006 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC Drop Dead Deadlines 12/10/2006 Drop Dead Deadlines 12/10/2006 “Drop Dead Deadlines” 12/10/06 Whether you plan to establish a retirement plan, grab some last minute tax deductions or make gifts to charities, you'll want to make sure to meet the
- [Choosing the Right Financial Planner for Your Needs 11/17/07](https://welchgroup.com/choosing-the-right-financial-planner-for-your-needs-11-17-07/) - Choosing the Right Financial Planner for Your Needs 11/17/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 11/17/07 Choosing the Right Financial Planner for Your Needs 11/17/07 "Choosing the Right Financial Planner for Your Needs" 11/11/07 In last week's column I reviewed the six steps in the financial planning
- [Some Holiday Giving and Receiving 12/3/2006](https://welchgroup.com/some-holiday-giving-and-receiving-12-3-2006/) - Some Holiday Giving and Receiving 12/3/2006 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 12/3/2006 Some Holiday Giving and Receiving 12/3/2006 “Some Holiday Giving & Receiving” 12/3/06 The opening weekend of the holiday season was a smashing success for retailers indicating that consumers are in the mood to open their
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- [A New Strategy for Roth IRAs 11/26/06](https://welchgroup.com/a-new-strategy-for-roth-iras-11-26-06/) - A New Strategy for Roth IRAs 11/26/06 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC A New Strategy for Roth IRAs 11/26/06 A New Strategy for Roth IRAs 11/26/06 “A New Strategy for Roth IRAs” 11/26/06 In this final installment of my series on IRAs, I'll discuss the various rules
- [Investing For The Ages Part II of III: 40's and 50's](https://welchgroup.com/investing-for-the-ages-part-ii-of-iii-40s-and-50s/) - Setting a retirement savings goal can be paramount to ensuring you have enough when you reach retirement. Follow these tips in your 40s and 50s to be financially prepared.
- [Better Assumptions = Better Outcomes](https://welchgroup.com/better-assumptions-better-outcomes/) - When planning for your financial future, assumptions are one of the most critical factors in the process. Learn how to set expecations and prepare for positive outcomes.
- [Low-Interest Loans To Family Members - What To Know](https://welchgroup.com/low-interest-loans-to-family-members-what-to-know/) - One family wealth transfer strategy is that of making low interest loans to family members. Like many financial circumstances, these loans were impacted by the Covid-19 pandemic.
- [Why Not Loan Money to Family & Friends?](https://welchgroup.com/why-not-loan-money-to-family-friends/) - If you have money or people suspect you have money, you will eventually have someone ask you for a loan. Most likely, that person will be someone you both know well and care about. Emotionally you may have a strong desire to help, but should you? After forty-something years of watching this scenario play out
- [Lessons Learned from Your Tax Return](https://welchgroup.com/lessons-learned-from-your-tax-return/) - The annual tax return ritual is not something people look forward to. In fact, I would argue that unless you anticipate a tax refund, there are very few people who enjoy the process. It can be time-consuming, expensive, and financially painful if you owe the government large amounts of money. While I share in this
- [Understanding Bitcoin](https://welchgroup.com/understanding-bitcoin/) - In the first article of a two-part series, What's The Deal With Bitcoin, we reviewed the definition and history of money, the traits humans look for in searching for sound money, and why Bitcoin came into existence. In this article, we discuss the technical aspects of Bitcoin, arguments for and against it, and how to
- [PRESS Ahead To Retirement](https://welchgroup.com/press-ahead-to-retirement-2/) - We are often reminded of the importance of saving for retirement, but why do so many people let the opportunity slip through the cracks? Stewart joined Money Tuesday to discuss a fresh approach that can get the job done while not making any sacrifices to your current cash flow! IMPORTANT DISCLOSURE INFORMATION The following video
- [Holiday Spending Strategies](https://welchgroup.com/holiday-spending-strategies/) - Stewart Welch joins WBRC Fox 6 Money Tuesday to chat about his three rules for successful spending strategies during the holiday season. Making a list, shopping early, and staying within your budget are key components. IMPORTANT DISCLOSURE INFORMATION The following video presentation by The Welch Group, LLC (“Welch”) is intended for general information purposes only.
- [Should I Be Scared of the Stock Market?](https://welchgroup.com/should-i-be-scared-of-the-stock-market-2/) - YESTERDAY the Dow flirted with an all-time high milestone of 36,000, before ending the day at 35,913. It has elevated drastically throughout history, but not without corrections along the way. In this time of an elevated market, what should you be considering? Stewart joined Money Tuesday to review four points in successfully managing the market.
- [Protecting the Elderly from Financial Exploitation](https://welchgroup.com/protecting-the-elderly-from-financial-exploitation/) - Financial exploitation of the elderly is on the rise in our communities. According to the National Council on Aging, approximately five million elderly men and women are abused each year, with financial losses of more than $35 billion. Marshall Clay joined WBRC Fox 6 Money Tuesday to share some important planning tips to help prevent
- [What's the Greatest Gift? A Better Education.](https://welchgroup.com/whats-the-greatest-gift-a-better-education/) - If you could give a child the gift of a great education at no cost to you, would you do it? If your answer is, “Of course I would!” then you need to learn more about the Alabama Accountability Act (AAA) and the Scholarship Granting Organizations that can help make this happen. Stewart joined Money
- [Choose Your College Major Wisely](https://welchgroup.com/choose-your-college-major-wisely/) - As students head back to college, many will be choosing their major. When I attended college decades ago, I gave very little thought to my major course of study. In fact, I was more guided by which was the easiest path to victory (a college diploma)! For me, that ended up being a marketing major
- [Navigating Uncertain Markets](https://welchgroup.com/navigating-uncertain-markets-2/) - The current uncertainty in the market environment gives us many things to think about, and it can be challenging to make sound financial judgments. It's important to set emotion aside and review some investing fundamentals. Marshall joins Money Tuesday to offer his thoughts on how to handle the current environment. IMPORTANT DISCLOSURE INFORMATION The following
- [Save Cash with this Tax Strategy](https://welchgroup.com/save-cash-with-this-tax-strategy-2/) - A lot of people make donations to their favorite charity or religious organization. And in most cases, the individual writes a check and, hopefully, takes a charitable tax deduction when it is tax-filing time. Stewart joined Money Tuesday to talk about an often forgotten tax strategy, the Qualified Charitable Deduction (QCD), that can be used
- [AL Property Tax Exemption: Do You Qualify?](https://welchgroup.com/al-property-tax-exemption-do-you-qualify-2/) - Many people over the age of sixty-five don’t realize or forget that they are likely eligible for an exemption from payment of the State of Alabama’s portion of their property tax. Stewart joined WBRC Fox 6 Money Tuesday to talk about property tax exemptions and eligibility. IMPORTANT DISCLOSURE INFORMATION The following video presentation by The
- [Borrow on a 30-Year Mortgage and Invest the Difference?](https://welchgroup.com/borrow-on-a-30-year-mortgage-and-invest-the-difference-2/) - According to a recent Tik Tok video, a smart financial move is to take out a 30-year mortgage on your home instead of a 15-year mortgage and invest the difference. Is this a good investment strategy? Stewart joined Money Tuesday to discuss. IMPORTANT DISCLOSURE INFORMATION The following video presentation by The Welch Group, LLC (“Welch”)
- [Time for a Homeowner's Insurance Review](https://welchgroup.com/time-for-a-homeowners-insurance-review/) - The catastrophic damage in Louisiana and through the Northeast caused by Hurricane Ida is an important reminder of the value of homeowners insurance. Marshall joined Money Tuesday to provide valuable insight on the importance of reviewing your homeowner's policy to ensure it's up to date and the best coverage is in place. IMPORTANT DISCLOSURE INFORMATION
- [50 Rules of Success: Succeed By ‘Failing Forward’ Fast!](https://welchgroup.com/50-rules-of-success-succeed-by-failing-forward-fast/) - What follows is the continuation of success habits that will become part of a book I’m writing, “50 Rules of Success”. A lot of people never achieve a significant level of success in their lives because they are afraid of failing. They don’t go out for the cheerleading squad or football team; they don’t go
- [Savings Bonds: Know These 5 Things](https://welchgroup.com/savings-bonds-know-these-5-things/) - I received a request last week: “I would like to see something concerning U.S. Savings Bonds on your segment. We have many that we can cash. What is the best way to avoid taxes?” One of our Associate Advisors, Reagan White, prepared this overview: Savings Bonds have been around since the tail-end of The Great
- [My Child Just Graduated from College…Now What?](https://welchgroup.com/my-child-just-graduated-from-collegenow-what/) - It is certainly a proud moment in a parent’s life when their child graduates from college. And proud you should be. Research indicates that college graduates earn in excess of $1 million more over their careers than non-graduates. And while we tend to think of this as the ‘next phase’ of a child’s life…getting a
- [Tips for Pre-Marriage Financial Counseling](https://welchgroup.com/tips-for-pre-marriage-financial-counseling/) - Last week I discussed ways to reduce the financial strain in the event of a divorce. It occurred to me that a better strategy is to head off a future divorce by starting out a marriage on a sound financial footing. So if you or someone you know will be getting married in the near future, help
- [5 Golden Rules of Money](https://welchgroup.com/5-golden-rules-of-money/) - Here we discuss the 5 golden rules of money management. Read our tips on everything from saving to spending to investing and more!
- [The Million Dollar 401(k) Plan](https://welchgroup.com/the-million-dollar-401k-plan-2/) - According to a recent Fidelity Investments review of their 401(k) and IRA account holders, they found that the number of accounts crossing above the $1 million value mark compared to 2020 rose by 74%. Can you use your 401(k) plan to become a millionaire? Stewart joins Money Tuesday to talk about six strategies to help
- [Umbrella Life Insurance - How Much is Enough?](https://welchgroup.com/umbrella-life-insurance-how-much-is-enough/) - Should an umbrella liability insurance policy be a part of your risk management collection? Most often, the answer is yes. The question remains, how much coverage is needed? Stewart joins Money Tuesday to discuss. IMPORTANT DISCLOSURE INFORMATION The following video presentation by The Welch Group, LLC (“Welch”) is intended for general information purposes only. No
- [How Much Wealth Do You Need?](https://welchgroup.com/how-much-wealth-do-you-need/) - COVID has caused Americans to rethink what it takes to be considered ‘wealthy.’ Charles Schwab recently completed its annual Modern Wealth Survey of 1,000 Americans, and the finding could be surprising. Stewart joined Money Tuesday to talk about factors that drove expectations, and a few thoughts on how to view your wealth needs. IMPORTANT DISCLOSURE
- [Winning the Credit Score Game](https://welchgroup.com/winning-the-credit-score-game-2/) - Wells Fargo recently announced it would no longer offer personal lines of credit. Instead, customers with account balances will be required to begin a payoff schedule. The typical open line-of-credit might be for as little as $3,000 or as much as $100,000. These accounts were used for such things as home improvements or loan consolidations.
- [Winning The Credit Score Game](https://welchgroup.com/winning-the-credit-score-game/) - Wells Fargo recently announced it would no longer offer personal lines of credit. Instead, customers with account balances will be required to begin a payoff schedule. For these customers, in addition to the inconvenience of paying off and closing their line-of-credit, their FICO credit score could also be negatively impacted. Stewart joined Money Tuesday to talk credit,
- [Wealth Creation Made Easy: Part II](https://welchgroup.com/wealth-creation-made-easy-part-ii-2/) - In last week's Money Tuesday segment, Marshall discussed a few time-tested rules to help you achieve wealth. He highlighted three areas that could provide you with a successful framework for creating wealth. He takes a deeper dive this week with additional thoughts to help you find success in achieving your goals. Please Note: No portion
- [Wealth Creation Made Easy](https://welchgroup.com/wealth-creation-made-easy-2/) - What does it mean to be wealthy? While there is no right or wrong answer, a recent 2021 survey conducted by Charles Schwab suggests Americans believe $1.9 million in net worth qualifies as wealthy. Wealth can be a lot of things to different people. Marshall joined the Money Tuesday segment to share a few time-tested rules that
- [Winning the Psychology of Retirement](https://welchgroup.com/winning-the-psychology-of-retirement-2/) - PIMCO, a leader in fixed income markets recently completed a study of investors in or near retirement that focused on the psychology of retirement withdrawals - how much one needs versus how much one can afford. Stewart joined Money Tuesday to discuss how the results can provide valuable insight for retirees. Please Note: No portion
- [Ask the Right Questions of Your Financial Advisor](https://welchgroup.com/ask-the-right-questions-of-your-financial-advisor/) - To achieve financial freedom by retirement age or earlier, you need to have a solid financial plan. To invest successfully, you should spend the time learning how to invest yourself or hand over at least a portion of the responsibility to a professional financial advisor. Stewart Welch III joins WBRC FOX6 News to talk about
- [Making Retirement as Good as Advertised](https://welchgroup.com/making-retirement-as-good-as-advertised/) - The conversation surrounding retirement is often centered around its financial aspects. While finances are certainly a big part of the retirement equation, other non-financial considerations like expectations should be considered as well. Marshall joined WBRC Money Tuesday to offer a few tips to ease the transition and hopefully make it more rewarding. Please Note: No
- [Make Better Use of Your Cash](https://welchgroup.com/make-better-use-of-your-cash-2/) - The reduction in interest paid in checking and savings accounts has created some frustration for consumers. The recent concerns surrounding inflation exacerbate the problem when potential losses of purchasing power add to the equation. What should you be doing to get the best value out of your cash? Marshall joins the Money Tuesday segment with
- [Is Your "Safe" Money Safe?](https://welchgroup.com/is-your-safe-money-safe-2/) - A recent suggestion by a precious metals trader regarding the FDIC's ability to insure financial accounts created quite a buzz. The misinformation created angst for many depositors, and led to the question - where is your "safe" money? Please Note: No portion of the video content should be construed by a client or prospective client
- [Improving Decision Making](https://welchgroup.com/improving-decision-making-2/) - Making sound decisions can be difficult, and whether it's investment-related or leading a family, the decisions you make in these roles have short, near, and long-term ramifications. Marshall joined the Money Tuesday segment to offer a few ideas on how to gain confidence when making significant decisions. Please Note: No portion of the video content
- [Summer Vacation Success](https://welchgroup.com/summer-vacation-success-2/) - With vaccination efforts in full motion, long-due summer vacations are on everyone's mind. Before you book, make sure not to throw financial caution to the wind. Stewart joined WBRC for some tips to help keep you on track this summer. Please Note: No portion of the video content should be construed by a client or
- [Understanding The Roth IRA/401k](https://welchgroup.com/understanding-the-roth-ira-401k/) - Still trying to understand the benefits of the Roth IRA/401k? Marshall joined this week's Money Tuesday segment to break down the benefits and different ways to contribute to the Roth. You can learn more about Roth IRAs in this week's article. Please Note: No portion of the video content should be construed by a client
- [Tips For Summer Job Success](https://welchgroup.com/tips-for-summer-job-success/) - Summer is fast approaching, and high schools and colleges will soon adjourn. If you have not already found your summer job, now is the time to get started. You want it to be a good experience for you, and you want it to be a good experience for your employer. Stewart joined the WBRC Fox
- [Low Mortgage Rates: Love or Hate Them](https://welchgroup.com/low-mortgage-rates-love-or-hate-them/) - According to a leading measure of U.S. residential real estate prices, home prices rose 11.2% year over year in January. With a limited supply of new homes on the market, increased demand from ultra-low interest rates, and stay-at-home dynamics due to Covid-19, the conditions are perfect for higher home prices. Marshall joined this week's Money
- [American Rescue Plan Surprises](https://welchgroup.com/american-rescue-plan-surprises/) - With the $1,400 stimulus check for eligible individuals, the $1.9 trillion America Rescue Plan (ARP) also offered a few tax surprises. Stewart joined the Money Tuesday segment to discuss how the additions could affect you. Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee
- [Three Stimulus Check Questions](https://welchgroup.com/three-stimulus-check-questions/) - Stimulus checks began going out on March 17th as part of the $1.9 trillion American Rescue Plan Act of 2021. Here is a summary of what you might expect to receive: $1,400 per individual. $1,400 stimulus payment for Joint filers with AGI under $150,000; single filers under $75,000. Joint-filer phaseout = $160,000; single-filer phaseout = $80,000.
- [Defending Against Deflation](https://welchgroup.com/defending-against-deflation/) - With a promising vaccination answer to the Covid-19 pandemic in sight, economic activity is on the rise, and trillions of dollars in fiscal stimulus are coming to aid the recovery effort. There is certainly reason for optimism about the near-term future of the economy. However, the economy’s seemingly good news is not necessarily good news
- [Avoid The Financial Curse Of Comparison](https://welchgroup.com/avoid-the-financial-curse-of-comparison-2/) - Why do we feel the need to compare ourselves to others? The obvious answer is that we feel it provides us a “benchmark” to formulate future choices and behaviors. But why do we allow others to drive our actions? Why not establish our own internal benchmarks and be content with our ability or inability to
- [Learn A New Roth IRA Strategy](https://welchgroup.com/learn-a-new-roth-ira-strategy/) - A couple of years ago, congress stealthily changed the tax law for most owners of retirement plans. Under the old law, if you left your IRA to a person, generally, they were allowed to withdraw the money ‘slowly’ over their life expectancy (popularly called a Stretch IRA). Now, in most cases, the new law requires
- [New PPP Loans Focus On Smallest Business Owners](https://welchgroup.com/new-ppp-loans-focus-on-smallest-business-owners-2/) - It's reported the federal government will offer a revised PPP (Paycheck Protection Program) loan program tailored specifically to small business owners with less than 20 employees. The goal is to focus on access to PPP loans for small companies, including minority-owned businesses and businesses within underserved communities that may not have had traditional banking relationships.
- [Financial Fraud - Could It Happen To You?](https://welchgroup.com/financial-fraud-could-it-happen-to-you-2/) - Financial Fraud is rampant and sophisticated. Stewart joined Money Tuesday to discuss some of the types of financial fraud and just how sophisticated and widespread the attacks are. They all have common traits - urgency, distress, secrecy, and demographics. Know the signs. Please Note: No portion of the video content should be construed by a
- [Financial Contingency Planning For Retirees](https://welchgroup.com/financial-contingency-planning-for-retirees-2/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services.
- [Supercharging Your 401k in 2021](https://welchgroup.com/supercharging-your-401k-in-2021/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services.
- [Three Retirement Mistakes To Avoid](https://welchgroup.com/three-retirement-mistakes-to-avoid/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services.
- [Do You Have A Will?](https://welchgroup.com/do-you-have-a-will-2/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services.
- [Is Your Safety Net Sufficient?](https://welchgroup.com/is-your-safety-net-sufficient-2/) - Please Note: No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results or satisfaction if The Welch Group is engaged, or continues to be engaged, to provide investment advisory services.
- [Answer These Five Questions For Big 2021 Goals](https://welchgroup.com/answer-these-five-questions-for-big-2021-goals/) - 2020 will soon be behind us. WHEW! It has been a year no one will forget, and I think everyone is looking forward to 2021 with a lot of hope and positive expectations. If you want to take control of your results and make 2021 your best year ever, now is the time to focus
- [COVID Stimulus Part 2](https://welchgroup.com/covid-stimulus-part-2/) - Earlier this year, Congress passed a $2 trillion stimulus package to provide financial relief to individuals and small businesses due to the economic impact of COVID-19. Over the weekend, a second $900 billion package was approved in a non-partisan fashion in the house and senate. Here are some of the key components: $600 direct checks
- [Tis The Season For Giving...A Better Education!](https://welchgroup.com/tis-the-season-for-giving-a-better-education/) - Because of COVID, online sales are skyrocketing compared to last year, and I hope everyone will focus on shopping locally online. Local merchants need our help. While everyone is in the mood for giving, I think we could all agree that one of the greatest gifts a person can receive is the gift of the
- [Best Money Strategy For Holiday Spending](https://welchgroup.com/best-money-strategy-for-holiday-spending/) - Black Friday has come and gone. How did you do? With so much misery caused by the pandemic this year, folks are looking to spread some good cheer, and I expect holiday gift spending to hit records. According to Adobe analytics, weekend shopping surged almost 22% to a record $9 Billion this year. Cyber Monday
- [Revive Plus Grant Relief Program For Small Businesses](https://welchgroup.com/revive-plus-grant-relief-program-for-small-businesses/) - On November 18, Governor Kay Ivey announced a $200 million COVID-19 relief grant program, called Revive Plus. The program allows Alabama-based businesses with fifty or fewer employees, Alabama-based non-profits, and Alabama-based faith-based organizations to apply for grants up to $20,000 to reimburse business interruption expenses. This grant program is in addition to any previous state
- [What's In Your Wallet?](https://welchgroup.com/whats-in-your-wallet-2/) - We previously covered what not to keep in your bank safe deposit box. With the holidays upon us, and shopping at a yearly high, the potential for losing a wallet or purse increases. There are several items you should consider to not keep in your wallet or purse, which if lost or stolen could become
- [Better Health Equals Better Finances](https://welchgroup.com/better-health-equals-better-finances/) - One of the major lessons learned from the Covid-19 crisis is how vulnerable we are as Americans due to our poor underlying health. According to the Organization of Economic Cooperation and Development (OECD), America ranks near the bottom in terms of life expectancy among advanced/industrialized nations and near the top in terms of obesity rates,
- [Did You Get Your $1,200 Stimulus Check?](https://welchgroup.com/did-you-get-your-1200-stimulus-check/) - In March of this year, Congress passed the CARES Act as part of a COVID-19 stimulus package of Economic Impact Payments that included $1,200 checks to eligible Americans plus $500 checks for eligible children. A couple with two children could receive up to $3,400. Not everyone was eligible for payments as phaseouts begin at $75,000
- [Financial Help For Friends and Family](https://welchgroup.com/financial-help-for-friends-and-family/) - Providing financial assistance can be tricky, particularly when it involves close friends and family members. While the instinct to offer financial help for those we care about is admirable, it should be met with caution as it can often lead to bad outcomes. If a family member or friend is seeking financial assistance, below are
- [Medicare - What You Must Do Right Now](https://welchgroup.com/medicare-what-you-must-do-right-now/) - If you are on Medicare, it’s that time of the year again! Now is the time to review your current plan and compare the options available to ensure you are on the best plan for your situation. You could potentially save thousands of dollars. There is a deadline for making changes for 2021, so don’t
- [Thinking of Retiring? Consider the Emotional Aspects](https://welchgroup.com/thinking-of-retiring-consider-the-emotional-aspects/) - The average retirement age in the United States is sixty, and the average life expectancy is age seventy-nine. Note that to get the ‘average’ life expectancy, you include many who will live well beyond that age, with more and more people living to centenarian status. It goes without saying that you must carefully calculate that
- [Understanding Deferment and Forbearance Relief](https://welchgroup.com/understanding-deferment-and-forbearance-relief/) - Due to the Covid-19 pandemic, and the unprecedented economic damage it inflicted, many lenders created deferment and forbearance relief programs to assist borrowers in their time of need. While this was welcomed relief for the unemployed and those suffering from severe reductions in income, consumers participating in these programs should understand what is expected of
- [November Elections And The Stock Market](https://welchgroup.com/november-elections-and-the-stock-market/) - With the presidential elections less than two months away, we hear a lot about how the results are likely to affect the stock market. Some believe a Biden win will sink the stock market due to his commitment to higher individual and corporate income tax rates and more regulations. Others believe a Trump win cause
- [Mortgage Rates: Time To Revisit](https://welchgroup.com/mortgage-rates-time-to-revisit/) - COVID has permeated our lives to such a degree that it is easy to miss significant opportunities that are right in front of you. Currently, one of the biggest opportunities is historically low mortgage interest rates. In March of this year, 30-year mortgage rates dropped to an all-time low of 3.25%. The 15-year fixed-rate was
- [Bonds: What Are They Good For?](https://welchgroup.com/bonds-what-are-they-good-for/) - With bonds yields currently at historic lows, I am reminded of the 1970's hit song "War" by Edwin Starr, where he asked, "War, what is it good for?" and his reply, "Absolutely nothing!" As difficult as it is to appreciate bonds, let me attempt to make the case that bonds, even with a seemingly bleak
- [Are Annuities A Good Investment?](https://welchgroup.com/are-annuities-a-good-investment/) - A few decades ago, I was in the life insurance business, so I had an opportunity to see how they make the sausage. Annuities are products sold by sales representatives through life insurance companies. The product is often complicated and laden with both up-front and ongoing commissions, fees, and expenses. Annuities come in many varieties:
- [Investing for the Ages Part III of III: 60's & 70's and Beyond](https://welchgroup.com/investing-for-the-ages-part-iii-of-iii-60s-70s-and-beyond/) - In this three-part series, I've discussed how to adjust your investment strategy depending on whether you are just getting started in your twenties and thirties or have made steady progress towards saving for retirement in your forties and fifties. Investing for the Ages: 20's & 30's Investing for the Ages: 40's & 50's If you
- [Investing for the Ages Part I of III: 20's & 30's](https://welchgroup.com/investing-for-the-ages-part-i-of-iii-20s-30s/) - Even under COVID…no, especially under COVID, people need to be focused on their long-term financial future. If you're in your twenties or thirties and want to create financial independence, you'll need to begin an investment program. Here are the key actions you should take now: Don't wait, invest now. Many people postpone investing because
- [Medicare – What You Must Do Right Now](https://welchgroup.com/medicare-what-you-must-do-right-now-2/) - If you are on Medicare, it is that time of the year again! It is time to review plans to ensure you are on the best plan and making changes could save you thousands of dollars. My partner, Kimberly Reynolds, MS, CFP® gives tips on how to research and find the best plan for you
- [6 Habits of Superstar Employees](https://welchgroup.com/6-habits-of-superstar-employees/) - In last week’s column, I discussed the “7 Keys to a Killer Job Interview”. Once you’ve got that new job, here are the six habits for becoming a super star employee: “Lights on…lights off”. Do you remember the movie, ‘The Karate Kid’? One of the most memorable scenes was when master martial artist, Mr. Miyagi,
- [Don’t Be a Slave to Debt!](https://welchgroup.com/dont-be-a-slave-to-debt/) - As humans, we instinctively pay close attention to things that excite us and ignore those that bore us. As investors, we must fight this instinct with every fiber of our being as the boring topics are often the most important to long term financial success. While most financial news is centered around the day-to-day movements
- [6 Habits of Superstar Employees](https://welchgroup.com/6-habits-of-superstar-employees-2/) - This weeks column focuses on the 6 habits every employee should develop to become a superstar employee. Discover how to become your bosses go-to person here.
- [5 Goals for 2019 That Will Change Your Life](https://welchgroup.com/5-goals-for-2019-that-will-change-your-life/) - How good do you feel about what you’ve accomplished over the past twelve months? How about the past 5 years? A lot of people find themselves caught in the cycle of living day-by-day only to wake up a year or more later with not a lot to show for it. If that’s you, start with
- [Financial Checklist for the New Year](https://welchgroup.com/financial-checklist-for-the-new-year/) - The New Year always gives us a sense of new beginnings and an opportunity to create positive results for ourselves, family, friends and community. It’s the perfect time to reset the course of our financial lives. Here’s a checklist of things you should consider: ⃝ Traditional or Roth IRA contribution for 2018. If you’re eligible to
- [Roth or Traditional IRA: Which is Best?](https://welchgroup.com/roth-or-traditional-ira-which-is-best/) - Last week our discussion centered on your Financial Checklist for the New Year and included making both your 2018 and 2019 contributions to either a Traditional IRA or Roth IRA as soon as you’re able…hopefully this month. If you’re ready to make that investment or at least set up a monthly auto-investment plan for one
- [Will Your Children Have Your Family Values?](https://welchgroup.com/will-your-children-have-your-family-values/) - In my latest book, “J.K. Lasser’s New Rules for Estate, Retirement & Tax Planning- 6th Edition” (published January 2019), I discuss a strategy for passing along your family values to your children. If you have young children, I know you feel your first responsibility is to provide for their basic support including food, shelter, clothing
- [7 Reasons to Downsize Your Home Before Retirement](https://welchgroup.com/7-reasons-to-downsize-your-home-before-retirement/) - Many parents have a lot of emotional attachment to the home where they raised their children. There are so many memories associated with virtually every room in the home, the yard, the neighborhood. But the home that was big enough for your family is likely much larger relative to your needs in retirement. What has
- [Are You an Empty Nester?  Do this!](https://welchgroup.com/are-you-an-empty-nester-do-this/) - I get it. Raising kids is not only hard, it’s very expensive! According to the U.S. Department of Agriculture, the average cost of raising a child for a middle-income family is $233,610…not including college! This comes out to about $14,000 per year per child. It’s no wonder that the average savings account balance across American
- [5 Reasons Not to Retire](https://welchgroup.com/5-reasons-not-to-retire/) - Much of my professional time is spent either strategizing with clients about their retirement or writing about this topic. It seems engrained in our brains to ‘work towards’ our retirement. Most people target retiring around age sixty-five with a few thinking earlier and some later. Some, but very few, have no intention of retiring. These
- [5 Tips for Getting Your Dream Summer Job](https://welchgroup.com/5-tips-for-getting-your-dream-summer-job/) - The weather is mixed…some cool days, some hot days, but make no mistake, Summer is just around the corner. Unless you have the luxury of taking the summer off, now is the time to line up a great summer job. Here are my best tips for landing your dream summer job: Decide what type of
- [Retirement Healthcare Expenses: Are You Ready?](https://welchgroup.com/retirement-healthcare-expenses-are-you-ready/) - Insurance Companies Exiting the LTC business Genworth, a major writer of long-term care insurance (LTC), recently announced they’d no longer offer LTC insurance through brokers and, instead, would only offer coverage ‘direct-to-consumer’. This is an effort to cut the enormous expenses of commissions paid to brokers and reflects declining demand for LTC products. Demand has
- [Need a Simple Money Management System? Consider the 50-30-20 Strategy](https://welchgroup.com/need-a-simple-money-management-system-consider-the-50-30-20-strategy/) - For most of us, money management was not taught in school…or at home. In fact, for most of us we learn about managing money through the school of hard knocks…trial and error. And boy, those errors can be difficult to overcome. There are many different money management strategies to choose from, some of which can
- [Setting Priorities as a Young Couple](https://welchgroup.com/setting-priorities-as-a-young-couple/) - For young couples, it is often hard for them to make sense of the various financial challenges they face and to set priorities. While each person is different, below are my Top 5 Priorities for Young Couples! Improve Emergency Cash Situation A typical rule of thumb is to take your monthly income and multiply that
- [New Rule: Pay Off Your Home Mortgage!](https://welchgroup.com/new-rule-pay-off-your-home-mortgage/) - For as long as I can remember, having a home mortgage was considered ‘good’ debt. The reason was that you were borrowing money to buy something that’s expected to increase in value…AND you received a tax deduction for your interest payments! What’s changed? In 2017, 32 million taxpayers were eligible for the mortgage interest deduction.
- [401k In-Service Withdrawal: Good Idea or Bad?](https://welchgroup.com/401k-in-service-withdrawal-good-idea-or-bad/) - I recently ran into a situation where an employee withdrew money from their 401k in order to buy a home that he had been renting. Certainly, owning a home is part of the American dream, but is it a good idea to use your retirement savings? In this case, he took an ‘in-service withdrawal’ instead
- [3 Steps to Getting a Higher Interest Rate](https://welchgroup.com/3-steps-to-getting-a-higher-interest-rate/) - In late 2007, right before the banking meltdown that ushered in the Great Recession of 2008, we were easily earning north of 4% on money market accounts. As the recession unfolded, and with much help from the Federal Reserve, interest rates plummeted to near zero percent…actually zero percent in many cases. Some ten years later
- [Is Your Mindset Right for Stock Market Volatility?](https://welchgroup.com/is-your-mindset-right-for-stock-market-volatility/) - The are many ways I measure my success as a wealth manager, but one of the most important ways is how many nervous calls I receive from clients when financial market volatility increases. If I’m doing my job well my clients achieve a certain mindset and comfort level, allowing them to navigate extreme periods of
- [What If I Live to Age 100?](https://welchgroup.com/what-if-i-live-to-age-100/) - Just for fun, let’s begin with a bit of history. Five thousand years ago, life expectancy was 18 years. By the 1900s, life expectancy had risen to age 47. Today, it’s age 79 and continues to rise. What’s more shocking is that demographers predict children born in 2000 will, on average, live to age 100
- [Mortgage Interest Rates Plunge](https://welchgroup.com/mortgage-interest-rates-plunge/) - According to BankRate.com, home mortgage rates dropped to their lowest level in 17 months. The 30-year mortgage is at 4.04% and a 15-year mortgage is at 3.41%. Rates on 30-year jumbo loans also fell to 4.10%. This is great news if you’re considering buying a home and should serve as a reminder to check your
- [Financial Protection for Your Elderly Parent](https://welchgroup.com/financial-protection-for-your-elderly-parent/) - This story opens with a 103-year-old parent who was sold two new HVAC units for his home costing $24,000. These were top-of-the-line units where competitive units would have cost $14,000. When his 70-year-old son found out, he was furious and felt the company had taken advantage of him. The son had tried to protect his
- [Secrets to A Perfect Credit Score](https://welchgroup.com/secrets-to-a-perfect-credit-score/) - My long-time assistant, Roxie, is the master of managing her credit score. This began as a game to her and she wondered if she could ‘manage’ her way to a perfect ‘850’ score. Her Discover card provides (for free) her score each month so she began experimenting with changes to how she handled her finances
- [To Move or Remodel](https://welchgroup.com/to-move-or-remodel/) - At its foundation, my job as a wealth manager is to help clients effectively allocate their hard-earned capital. While there are many important decisions along those lines, the decision to remodel an existing home, or move to a new home, is one of the biggest as it can prove costly if not well thought-out. When
- [New Strategies for Your IRA](https://welchgroup.com/new-strategies-for-your-ira/) - Last week I discussed how Congress is potentially stealing hundreds of thousands of dollars from your IRA by enacting the SECURE Act which eliminates the long-held ‘Stretch IRA’ by forcing non-spousal IRA beneficiaries to withdraw all funds within 10 years. In my example, a 10-year-old inheritor of a grandparent’s IRA, under current ‘Stretch’ rules, could
- [Best Strategy for Claiming Social Security Retirement Income](https://welchgroup.com/best-strategy-for-claiming-social-security-retirement-income/) - A recent study indicates that the typical family loses an average of $111,000 due to poor choices of when to begin taking Social Security retirement benefits. With Social Security retirement payments making up an average of one-third the average retirees’ income, making the right decision is vital to your financial well-being. Let’s start with the
- [The New Parent Financial Checklist!](https://welchgroup.com/the-new-parent-financial-checklist/) - Becoming a parent is an exhilarating experience, but also comes with a great deal of responsibility! On August 2, 2019, my wife and I welcomed our second child, Jones Carson Clay, to the world, and we feel very blessed. Between helping my wife with various tasks, including diaper changes, feedings, cleaning clothes, etc., my financial
- [Child Headed To College?  Think About This!](https://welchgroup.com/child-headed-to-college-think-about-this/) - Sending your child off to college is…well, a huge deal! They are beginning the next phase of their life as they transition from adolescence to young adulthood. As parents, we often hold onto that image of our young child and fail to think of them in adult terms. Doing so can cause us to miss
- [Retirement May Be Hazardous to Your Health](https://welchgroup.com/retirement-may-be-hazardous-to-your-health/) - I was with a retired physician friend not long ago and inquired, “How’s retirement life going?” His response was, “Stewart, never quit a high-paying job you love!” he was bored and having trouble filling the void left by a forty-plus year fulfilling career. For the past thirty-plus years, I’ve worked with hundreds of people helping
- [Mortgage Rates Plunge…Opportunity?](https://welchgroup.com/mortgage-rates-plungeopportunity/) - As fears of a recession grow due primarily to trade-war concerns, home mortgage rates have followed the 10-year treasury rates down…to their lowest levels in three years. Here’s a quick review of current rates (source: Freddie Mac 9/5/19): 30-year conventional mortgage: 3.49% 15-year conventional mortgage: 3.00% What’s even more surprising is that non-conventional ‘jumbo’ mortgage
- [My Long-Term Care Premiums just increased 60% …what should I do?](https://welchgroup.com/my-long-term-care-premiums-just-increased-60-what-should-i-do/) - Policyholders are getting notifications from Genworth and other Long-Term Care providers that their insurance premiums will be increasing by as much as 60%. These are not new policies; these are policies that have been in force for more than a decade. The question is often, “What am I to do?” First, let’s understand what got
- [Adjust Your Thinking About Retirement!](https://welchgroup.com/adjust-your-thinking-about-retirement/) - My partner, Stewart Welch, wrote an article recently about how retirement can be hazardous to your health, and how people should develop what he calls a “4th Quarter Plan.” For most, developing this plan can be difficult as it is hard even to know where to begin. My team deals with hundreds of client families
- [Retirees: Avoid These 3 Common Mistakes](https://welchgroup.com/retirees-avoid-these-3-common-mistakes/) - There is something very comforting about receiving paychecks. What I’ve observed is that many workers are less concerned with the ups and downs of the stock and bond markets as long as they have the security of a steady paycheck. All of that changes once they retire. No more paycheck and the thought of a
- [CD's Can Be Risky!](https://welchgroup.com/cds-can-be-risky/) - Everybody knows bank CD's are safe, right? Not so fast… In today’s financial environment, CD's face some unexpected risks that you should consider before automatically renewing your CD when it matures. An internet search of current rates from two of our largest banks (Birmingham, AL) for a 1-year CD revealed rates of 0.10% (APR). Investing
- [Fourth Quarter Financial Planning Series: INVESTING](https://welchgroup.com/fourth-quarter-financial-planning-series-investing/) - As we head towards 2019 year-end, what are the most important financial planning tips and tasks for you to consider to ‘finish well’ and set yourself up for a successful new year? In this series, we’ll tackle areas such as: Investing Cutting taxes Cutting insurance costs Completing an estate plan review INVESTING Grab the match.
- [Pension Buyouts Are Back!  What To Do?](https://welchgroup.com/pension-buyouts-are-back-what-to-do/) - With interest rates trending lower in 2019, many companies are once again looking to offload pension liabilities by offering lump-sum pension payouts to employees and former employees. If you, or someone you know, are being given the option to take a lump-sum pension, it can be one of the most important financial decisions of your
- [Fourth Quarter Financial Planning Series: REDUCING TAXES](https://welchgroup.com/fourth-quarter-financial-planning-series-reducing-taxes/) - In part one of this series ‘Investments,’ I discussed investment to-dos between now and yearend. Today, I’d like to cover some tax-related strategies that can save you money or avoid tax penalties. File on time. Ok, this is not exactly a 2019 year-end strategy but a reminder of the importance of filing by April 15,
- [Fourth Quarter Financial Planning Series: ESTATE PLANNING](https://welchgroup.com/fourth-quarter-financial-planning-series-estate-planning/) - So far, in this series, we’ve covered Investments, Taxes, and Insurance. Now let’s look at estate planning with an emphasis on digital assets. Most people understand the importance of having a basic estate plan in place. Unfortunately, at least one-third of American adults don’t have one. The reasons vary, but the most dominant is procrastination.
- [Fourth Quarter Financial Planning Series: Create More Income](https://welchgroup.com/fourth-quarter-financial-planning-series-create-more-income/) - So far in this series, we’ve covered Investments, Taxes, Insurance, and estate planning. For this final section, I’d like to include ideas for supplementing cash flow. With Thanksgiving behind us, it’s hard not to turn your attention to the Christmas holiday season and all its demands, including the need for more cash flow to buy
- [Debt Management for the Holidays](https://welchgroup.com/debt-management-for-the-holidays/) - New research shows that, for the first time, Americans collectively owe four trillion dollars of consumer debt, excluding home mortgages. That’s such a significant number; it can be meaningless for the average reader, so let’s zoom in a bit. In 1950, the inflation-adjusted median household income was about $30,000, with only about $500 in consumer
- [How to Establish Financial “Grit” in 2020!](https://welchgroup.com/how-to-establish-financial-grit-in-2020/) - What does it take for humans to accomplish goals of great significance? The answer to this question was recently addressed in a 10-year study conducted by The United States Military Academy at West Point, and the results may surprise you. While the study found that cognitive and physical abilities aid in the accomplishment of great
- [Fourth Quarter Financial Planning Series: Don’t Be A Victim of Holiday Fraud!](https://welchgroup.com/fourth-quarter-financial-planning-series-dont-be-a-victim-of-holiday-fraud/) - With the holiday season in full swing, as evidenced by stores full of shoppers and lots of traffic, it’s also important to remember that this is prime time for fraudsters. In the crowded business of this season, it’s easy to let your guard down. Recent research by LIMRA indicates that 36% of those responding to
- [2020: Your 3 Most Important Goals](https://welchgroup.com/2020-your-3-most-important-goals/) - It’s a new year and a new opportunity to hit the reset button on goals for the most important aspects of your life. Your first question might be, “Does setting goals really matter?” As a seasoned politician (Mayor of Mtn. Brook), my answer would be, “It depends…” Most people go through life, never set any
- [Parental Guide:  Maxing the Value of a College Education](https://welchgroup.com/parental-guide-maxing-the-value-of-a-college-education/) - Warren Buffet has a saying, “Price is what you pay, value is what you get! As high school graduates and their parents deliberate over where/whether to attend college next year, this axiom should be at the forefront of their minds. While it is widely known that the costs of college skyrocketed over the past twenty
- [Tax Season Scams on the Rise](https://welchgroup.com/tax-season-scams-on-the-rise/) - April 15th seems far away, but scammers are working overtime to beat you to the tax filing deadline so they can steal your money. One of the new reported trends involves ransomware attacks on tax preparers. They force tax preparers to pay a fee to ‘release’ their files then use the stolen client information to
- [It’s Time to Check Your Social Security Record](https://welchgroup.com/its-time-to-check-your-social-security-record/) - When I ask someone, “What is the single largest asset you own?”, what do you think the most common response is? If you said, “My house,” you’d be correct even though that’s not the right answer for many families. Philip Wilson, in his excellent book, “Maximize Your Social Security,” states that your decision when to
- [Your Emergency Cash Reserve](https://welchgroup.com/your-emergency-cash-reserve/) - Why You Need It One of the few certainties in life is uncertainty itself. When it comes to your personal finances, it is critical to build and maintain a ready cash reserve that can be used to address the inevitable, unexpected expenses that all of us encounter. Who can predict the timing of significant family
- [Do You Need a Trust in Your Will?](https://welchgroup.com/do-you-need-a-trust-in-your-will/) - The good news is you have a will that outlines what happens to your stuff at your death. One question that people often overlook is, "Do I need a trust" for a portion or all my assets? Most wills don't include trusts and leave assets outright to a spouse or children. But in many cases,
- [Are You Missing This Tax-Saving Opportunity?](https://welchgroup.com/are-you-missing-this-tax-saving-opportunity/) - I received a question from a lady regarding her 87-year-old mother-in-law asking if she qualified for a property tax exemption? OUCH! Her mother-in-law has missed the opportunity to save perhaps hundreds or thousands of dollars over the past twenty-two years. Here's an excerpt taken directly from the State of Alabama web site: I AM OVER
- [Think Small To Save Big!](https://welchgroup.com/think-small-to-save-big/) - Under intense pressure, it’s easy to find yourself paralyzed and unable to complete even the simplest of tasks! The mind is a powerful tool and can be either your best friend or your worst enemy. As we grow old, our ability to deal with pressure improves, but life has a way of humbling and forcing
- [Congress Provides Aid to Small Business Owners](https://welchgroup.com/congress-provides-aid-to-small-business-owners/) - The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed by Congress and signed by President Trump on March 27 and is the most significant economic aid package of our lifetime…amounting to over $2 trillion. It provides a variety of financial relief to individuals, small business owners, and large corporations. $350 billion is
- [Best Strategy For The CARES Act Stimulus Check](https://welchgroup.com/best-strategy-for-the-cares-act-stimulus-check/) - The CARES Act passed by Congress and signed by President Trump provides for up to $1,200 stimulus checks to be paid to millions of Americans. Here's a quick breakdown of who will receive how much money: This is a one-time payment. The calculation for eligibility is based on your 2019 earnings or 2018 earnings if
- [Can The Recent Pandemic Make You Smarter Financially?](https://welchgroup.com/can-the-recent-pandemic-make-you-smarter-financially/) - For some people, nothing short of a worldwide pandemic will cause them to take stock of their personal finances. For decades the financial community has preached the importance of having three to six months of cash reserves for the unexpected. Yet research suggests that 40% of households don't have $400 in the bank for emergencies. COVID-19
- [Does COVID-19 Have You Financially Paralyzed?](https://welchgroup.com/does-covid-19-have-you-financially-paralyzed/) - When will the shelter in place policies end? When will the economy reopen? When the economy does reopen, what will the business environment look like? How will this affect my job prospects moving forward? How will this affect my investment portfolio and long-term retirement plans? The questions above are a few facing us right now,
- [COVID-19 Creates New Financial Options](https://welchgroup.com/covid-19-creates-new-financial-options/) - Mostly COVID-19 has wreaked havoc on all of us but if you are the type of person always looking for the silver lining, here are three new financial options available to you: Required Minimum Distributions (RMDs) In response to COVID-19, congress passed a provision under the CARES Act that suspends the requirement that people age
- [What Success Looks Like Under COVID-19](https://welchgroup.com/what-success-looks-like-under-covid-19/) - Even as we reopen our businesses across the state and country, COVID-19 continues to spread and wreak havoc on our lives and our economy. Restarting the economy is critical, but we must do it in the safest way possible, or we risk a resurgence of the virus that again threatens our hospital systems and, perhaps,
- [Lending Standards Are Tightening](https://welchgroup.com/lending-standards-are-tightening/) - One bright spot for consumers in this uncertain economic environment is the recent drop in borrowing costs, particularly in home mortgages and home equity lines of credit (HELOCs). While the opportunity to borrow at lower rates is welcomed, it comes with the catch of higher borrowing standards! In fact, JPMorgan Chase, one the country's largest
- [COVID Affects Required Minimum Distributions For 2020](https://welchgroup.com/covid-affects-required-minimum-distributions-for-2020/) - COVID has affected many areas of our lives, including our finances. In normal times, if you are age 72 or older, you’d be required to take a Required Minimum Distribution (RMD) from your IRA or other retirement accounts. Because of COVID, under the CARES Act, that requirement is waived for 2020. What this means for
- [A Smart Retirement Strategy Conversation](https://welchgroup.com/a-smart-retirement-strategy-conversation/) - A long-time friend who recently retired at age sixty-five emailed me for my thoughts about a retirement strategy he was considering. He plans to live off the interest, dividends, and savings and postpone taking Social Security until age seventy. By doing so, his Social Security benefit will grow to the maximum (an additional 32% over
- [Is Emotion Affecting Your Investment Decisions?](https://welchgroup.com/is-emotion-affecting-your-investment-decisions/) - We are all likely familiar with the term "emotional roller-coaster," and the term is fitting in describing the last several months as we continue to deal with Covid-19 and its second-order effects on culture, family dynamics, and the economy. As humans, emotions aide and enhance our lives in so many ways, but allowing emotions to
- [Let Time Horizon Drive Your Risk](https://welchgroup.com/let-time-horizon-drive-your-risk/) - After months of extreme market volatility due to Covid-19, the stock market finds itself within 10% of all-time highs. While this is a welcome relief for investors, considering market prices in late March, concerns remain with the ongoing economic recovery, Federal Reserve policy, the upcoming presidential election, etc. If you were caught off guard by
- [IRS Expands Eligibility of Special Rules for 401(k) Withdrawals & Loans](https://welchgroup.com/irs-expands-eligibility-of-special-rules-for-401-k-withdrawals-loans/) - In this new world of COVID-19, many things are changing at a lightening pace. Most recently is updated guidance from the IRS regarding retirement accounts for people affected by COVID-19: 401(k) Withdrawals Old Rule: 401k (and IRA) withdrawals before age 59 ½ resulted in a 10% federal penalty; 20% income tax withholding was mandatory; all
- [Are You Prepared for Retirement?  Not Until You Do These 3 Things](https://welchgroup.com/are-you-prepared-for-retirement-not-until-you-do-these-3-things/) - A lot of people seem to drift into retirement, and the COVID pandemic certainly hasn’t helped. If you want to retire with confidence, make sure you know these three things: Know your numbers. You need to have a good handle on your retirement income. Start with the numbers you know best like Social Security and
- [Education: A Key Component Of Success](https://welchgroup.com/education-a-key-component-of-success/) - Across America, we still struggle with failing schools, particularly in urban and impoverished areas. One way to help that won’t cost you anything but a moment of your time is voluntarily diverting a portion of your State of Alabama income taxes to Scholarship for Kids, or similar Scholarship Granting Organization (SGO) offered under the Alabama
- [Tax Stimulus Plan- What it Means to You - February 17, 2008](https://welchgroup.com/tax-stimulus-plan-what-it-means-to-you-february-17-2008/) - Tax Stimulus Plan- What it Means to You - February 17, 2008 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC February 17, 2008 Tax Stimulus Plan- What it Means to You February 17, 2008 The big news story this past week was President Bush's signing of the economic stimulus bill. In a
- [Employer Stock in Qualified Plan Creates Tax Benefits 10/21/07](https://welchgroup.com/employer-stock-in-qualified-plan-creates-tax-benefits-10-21-07/) - Employer Stock in Qualified Plan Creates Tax Benefits 10/21/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 10/21/07 Employer Stock in Qualified Plan Creates Tax Benefits 10/21/07 “Employer Stock in Qualified Plan Creates Tax Benefits” 10/21/07 Literally tens of millions of employees own stock in their company retirement plan. This is
- [When Should You Begin Taking Social Security Benefits? - February 3, 2008](https://welchgroup.com/when-should-you-begin-taking-social-security-benefits-february-3-2008/) - When Should You Begin Taking Social Security Benefits?- February 3, 2008 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC February 3, 2008 When Should You Begin Taking Social Security Benefits? February 3, 2008 As a financial advisor who works with a large number of retirees and pre-retirees, I am often asked whether
- [Want Free Financial Advice?  Dont Miss the May 20th Alabama Money Expo!](https://welchgroup.com/want-free-financial-advice-dont-miss-the-may-20th-alabama-money-expo/) - Most people could benefit from financial advice but, in many cases, they simply don’t know where to go to get sound advice and they don’t want to find themselves in the middle of a sales pitch. Look no further than the 2017 Alabama Money Expo being held on Saturday, May 20, at UAB Hill Student
- [Want Free Financial Advice?  Don’t Miss the March 3rd Alabama Money Expo!](https://welchgroup.com/want-free-financial-advice-dont-miss-the-march-3rd-alabama-money-expo/) - Most people could benefit from financial advice but, in many cases, they simply don’t know where to go to get sound advice and they don’t want to find themselves in the middle of a sales pitch. Look no further than the 2018 Alabama Money Expo presented by the Regions Institute for Financial Education on Saturday,
- [Stewart Welch III - Financial Decisions Without Heirs on Fox 6](https://welchgroup.com/stewart-welch-iii-financial-decisions-without-heirs-on-fox-6/)
- [Personal Umbrella Insurance-Bullet Proofing Your Assets 5/20/07](https://welchgroup.com/personal-umbrella-insurance-bullet-proofing-your-assets-5-20-07/) - Personal Umbrella Insurance-Bullet Proofing Your Assets 5/20/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 5/20/07 Personal Umbrella Insurance-Bullet Proofing Your Assets 5/20/07 “Personal Umbrella Insurance- Bullet Proofing Your Assets” 5/20/07 Over the past few weeks, I have discussed the importance of having adequate homeowner's and auto insurance. However, even the
- [New Restrictions on Reverse Mortgages and the Effect on Senior Citizens](https://welchgroup.com/new-restrictions-on-reverse-mortgages-and-the-effect-on-senior-citizens/) - The Department of Housing and Urban Development (HUD) has announced its intentions to change the requirements for its reverse mortgage program -- specifically, to raise premiums and tighten up the limits on loans. But such a change could have tremendous ramifications for senior citizens, and there’s not much time to plan; the proposed revisions to
- [Need Free Financial Advice?  Don’t Miss the March 5th Alabama Money Expo!](https://welchgroup.com/need-free-financial-advice-dont-miss-the-march-5th-alabama-money-expo/) - Most people could benefit from financial advice but, in many cases, they simply don’t know where to go to get sound advice and they don’t want to find themselves in the middle of a sales pitch. Look no further than the free 2016 Alabama Money Expo being held on Saturday, March 5th at Carver High
- [Long Term Care Insurance-The Anti-Nursing Home Solution, Part II 6/3/07](https://welchgroup.com/long-term-care-insurance-the-anti-nursing-home-solution-part-ii-6-3-07/) - Long Term Care Insurance-The Anti-Nursing Home Solution, Part II 6/3/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 6/3/07 Long Term Care Insurance-The Anti-Nursing Home Solution, Part II 6/3/07 “Long Term Care Insurance- The Anti-Nursing Home Solution, Part II” 6/3/07 Last week, we began our discussion of long-term care insurance as
- [Long Term Care Insurance-The Anti-Nursing Home Solution, Part I 5/27/07](https://welchgroup.com/long-term-care-insurance-the-anti-nursing-home-solution-part-i-5-27-07/) - Long Term Care Insurance-The Anti-Nursing Home Solution, Part I 5/27/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 5/27/07 Long Term Care Insurance-The Anti-Nursing Home Solution, Part I 5/27/07 “Long-Term Care Insurance- The Anti-Nursing Home Solution- Part I” 5/27/07 Many of the 80 million Baby Boomers heading toward retirement now see
- [I’m Mad as Heck….and Here’s What I’m Going to Do About It!](https://welchgroup.com/im-mad-as-heck-and-heres-what-im-going-to-do-about-it/) - I’m mad. Met Life recently announced a 58% increase in premiums on my long-term care insurance. 58%! Genworth Financial, John Hancock and other companies have had similar premium increases while other companies have simply quit writing these policies altogether. These types of policies typically give the insurance company the right to raise premiums, not on an individual policyholder,
- [Homeowners Insurance-Getting the Right Coverage at the Right Price 5/6/07](https://welchgroup.com/homeowners-insurance-getting-the-right-coverage-at-the-right-price-5-6-07/) - Homeowners Insurance-Getting the Right Coverage at the Right Price 5/6/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 5/6/07 Homeowners Insurance-Getting the Right Coverage at the Right Price 5/6/07 “Homeowners Insurance- Getting the Right Coverage at the Right Price” 5/6/07 As part of our continuing series on core financial planning, this
- [Free Financial Advice?  Don’t Miss the 2015 Alabama Money Expo Event on March 7th!](https://welchgroup.com/free-financial-advice-dont-miss-the-2015-alabama-money-expo-event-on-march-7th/) - Most people could benefit from financial advice but, in many cases, they simply don’t know where to go to get sound advice and they don’t want to find themselves in the middle of a sales pitch. Look no further than the free 2015 Alabama Money Expo being held on Saturday, March 7th at Carver High
- [Fractional Interest Exotic Real Estate- Your Next Vacation Home? 7/1/07](https://welchgroup.com/fractional-interest-exotic-real-estate-your-next-vacation-home-7-1-07/) - Fractional Interest Exotic Real Estate- Your Next Vacation Home? 7/1/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 7/1/07 Fractional Interest Exotic Real Estate- Your Next Vacation Home? 7/1/07 “Fractional Interest Exotic Real Estate- Your Next Vacation Home?” 7/1/07 Have you ever dreamed of owning a luxury home on an exotic
- [Fourth Quarter Financial Planning Series: REDUCING INSURANCE COSTS](https://welchgroup.com/fourth-quarter-financial-planning-series-reducing-insurance-costs/) - So far, in this series, we’ve covered Investments and Taxes. Now let’s explore four ways to cut the costs of commonly owned insurance: Homeowners and Auto Insurance- No doubt, we need this coverage, and we need it in adequate amounts. The trick to slashing premiums 20% or more is through judicial use of deductibles. Often,
- [Congressional Decision-Time…and the Economy Hangs in the Balance](https://welchgroup.com/congressional-decision-timeand-the-economy-hangs-in-the-balance/) - Both the Republicans and moderate Democrats are currently re-thinking whether the Bush tax cuts should be allowed to expire at the end of this year or vote to extend them at least until the recession is over. If Congress does nothing, here’s an overview of some of the more onerous changes: All income tax rates
- [Are Charitable Gift Annuities a Good Idea? - April 19, 2015](https://welchgroup.com/are-charitable-gift-annuities-a-good-idea-april-19-2015/) - Reader Question: I have seen many advertisements for Charitable Gift Annuities, and I have always passed over them, partly as "too good to be true." My husband received information from an organization and the numbers interested him. The annual payout for someone who is age 70 to 74 is 5.8%. For ages 80 through 84,
- [COVID-19: Two Documents You Must Have](https://welchgroup.com/covid-19-two-documents-you-must-have/) - COVID-19 continues to be a significant disruption in our lives and continues to wreak havoc upon our economy. Current unemployment numbers are approaching 22%. To put this in perspective, look at both recent history and more ancient history: In February of this year, we were in the midst of one of the strongest economies and
- [50 Rules of Success: Learn When to Say ‘Yes’ and When to Say ‘No’](https://welchgroup.com/50-rules-of-success-learn-when-to-say-yes-and-when-to-say-no/) - What follows is the continuation of success habits that will become part of a book I’m writing, “50 Rules of Success”. Everybody starts with the same amount of time. To accelerate your success, it’s imperative that you become proficient at managing your time in a way that gets you your best results. As you become
- [Mortgage Rates: Near All-Time Lows](https://welchgroup.com/mortgage-rates-near-all-time-lows/) - If you’ve had a mortgage on your home for a while, no doubt you’ve refinanced at least once. All the craziness that is going on in the financial markets has created yet another opportunity. Last week, mortgage rates dropped to an all-time low of 3.29% for a 30-year loan. Rates are down a bit this
- [Financial Lessons from the Coronavirus!](https://welchgroup.com/financial-lessons-from-the-coronavirus/) - Over the past few weeks, the global impact of the coronavirus on health and economics has taken center stage. Investors all over the world are concerned about the unusual downside market volatility as uncertainty surrounding the virus continues. When it comes to financial markets, many investors focus only on the upside potential of markets and
- [How to Save Taxes and Cut Expenses on My Vacation Home?](https://welchgroup.com/how-to-save-taxes-and-cut-expenses-on-my-vacation-home/) - Question: My wife and I are 76 years old and have owned a vacation property for over forty years which has appreciated from $30,000 to $250,000. There may be benefits to leaving it to our two children but I would like to stop the upkeep and preside over the sale myself. The children will eventually get the
- [Four Strategies for Paying for College](https://welchgroup.com/four-strategies-for-paying-for-college/) - Reader Question: My husband and I need some advice regarding paying college tuition for our last two children and the expected engagement and wedding of our oldest daughter. Here are some of the specifics. We have five children, three have graduated from college and one of our two daughters is married. We have student loans that we
- [Best Place for My Cash Right Now](https://welchgroup.com/best-place-for-my-cash-right-now/) - Reader question: I would like to ask your advice about what you recommend I do with some cash I have been holding onto. I have $150,000 in the bank in a money market bank account. I have a good bit in two separate 401k's - one about $220,000 and the other $250,000, with about $350,000
- [Health Savings Accounts-More Powerful than an IRA 8/12/07](https://welchgroup.com/health-savings-accounts-more-powerful-than-an-ira-8-12-07/) - Health Savings Accounts-More Powerful than an IRA 8/12/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 8/12/07 Health Savings Accounts-More Powerful than an IRA 8/12/07 “Health Savings Accounts- More Powerful than an IRA” 8/12/07 Everyone knows that healthcare costs continue to soar with no end in sight. Many people blame the
- [Family Gifts Can Be Taxing](https://welchgroup.com/family-gifts-can-be-taxing/) - A friend once called me with concern over a gift his parents made to his sister. His parents had given her $150,000 worth of stock to purchase a home. She then sold the stock and bought the home. The parents didn’t see anything wrong with this. After all, it is their money and they
- [The Hidden Costs in Your 401-k](https://welchgroup.com/the-hidden-costs-in-your-401-k/) - How many of you would guess that over the lifetime of your 401k plan hidden fees could cost you more than $150,000? That’s the conclusion Demos, a non-partisan policy research and advocacy organization, came to in a recent research paper. The vast majority of employees participating in 401k plans across America have no idea about the
- [Unexpected Liability](https://welchgroup.com/unexpected-liability/) - Reader Question: In order to avoid probate and to make certain that my child gets my home; I’ve added his name to my deed. My question is about liability if he were to be involved in a lawsuit. Could my home be at risk? I also own a property that my son now rents from
- [9 Secrets of Achieving Financial Freedom- Part IV](https://welchgroup.com/9-secrets-of-achieving-financial-freedom-part-iv/) - Over the past several weeks, I’ve been discussing the 9 Secrets to Achieving Financial Freedom and how these secrets can be applied to achieving success in any area of your life. So far I’ve discussed the Secret of Decision; Total Commitment; Clarity; and Decisive Action. You’ve got to decide what you want in life; make a total
- [Prince Died without a Will…and You?](https://welchgroup.com/prince-died-without-a-willand-you/) - Legendary musician, Prince, recently died suddenly at age 57. Prince had a reputation as a meticulous businessman and had accumulated an estate worth $300 million. It’s inconceivable that he would never take the time to draw a last will and testament, but that’s exactly what happened. My best guess is that as a result, his
- [Wealth Creation- Part 3: Invest Like a Millionaire](https://welchgroup.com/wealth-creation-part-3-invest-like-a-millionaire/) - To achieve higher levels of wealth you’ll need to start by learning three basic things: Learn to love saving. A wise lady once told me ‘Sleep on it before you buy it!’ Much of what we spend money on adds very little value to our lives in the long term. It’s simply ‘impulse’ buying. Your
- [A Glimpse into the Future of Healthcare](https://welchgroup.com/a-glimpse-into-the-future-of-healthcare/) - As the healthcare reform debate rages in town halls across the country, Washington politicians and Americans are taking sides in one of the most important decisions of our generation. There appears to be consensus that some level of reform is needed but there is a passionate difference of opinion whether the new plan should include
- [10 Tips for Jump-Starting Your Finances for 2016](https://welchgroup.com/10-tips-for-jump-starting-your-finances-for-2016/) - Yep, the holidays are a busy time of year full of distractions that can easily draw you away from your financial game plan. You do have one, right? Here is a basket of tips from my colleagues at Rhinosure to give you a head start on your finances for 2016. There’s even an opportunity for
- [100 Rules of Success: Advice for New Employees (and Old)](https://welchgroup.com/100-rules-of-success-advice-for-new-employees-and-old/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. RULE: Lights On; Lights Off Do you remember the movie, ‘The Karate Kid’? One of the most memorable scenes was when master martial artist, Mr. Miyagi, agrees to train Daniel in the art of
- [Is Now the Time to Buy Beach House?](https://welchgroup.com/is-now-the-time-to-buy-beach-house/) - Reader Question: My home is paid for except for a $40,000 home equity line of credit. We are considering taking out a mortgage on our home to take advantage of the 2.5% interest rates and using the proceeds to buy a beach condo. Is this something you would recommend for an investment? T.G. Answer: Beach
- [Unintended Consequences](https://welchgroup.com/unintended-consequences/) - You may have heard of the ‘Butterfly Effect’…a butterfly flaps his wings here in America and sets off a tornado in Japan…or so the saying goes. It’s a metaphor used to explain how small changes can create large unintended results. The greed and mismanagement that dominated the executive offices of America’s largest banks over the
- [When an IRA Should Be Held in a Trust](https://welchgroup.com/when-an-ira-should-be-held-in-a-trust/) - In doing an estate planning review for a client recently, the subject came up of whether their three children should inherit his substantial IRA outright versus going to them in a trust. This is actually a pretty sophisticated question since trusts for IRAs are fairly rare. For context, let’s review the nature and characteristics of
- [Pac-Man Ate My PACT Plan!](https://welchgroup.com/pac-man-ate-my-pact-plan/) - Pac-Man was a wildly popular video game different from the shooter advance games kids play with even the help of overwatch boosting, in this pac-man game the friendly little sponge ball suddenly turns into a set of sharp teeth chomping away and destroying every thing in its path. It kind of reminds me of the Alabama
- [Holiday Giving without Breaking the Bank!](https://welchgroup.com/holiday-giving-without-breaking-the-bank/) - It’s easy to spend a small fortune giving gifts over the upcoming holidays even if you find great deals on sale. Last week, I challenged our readers to share their best low-cost gift giving ideas: Bake and Freeze. My mom always made biscuits at least 2-3 times per week. Several years ago she made the
- [Obamacare and Your Financial Future](https://welchgroup.com/obamacare-and-your-financial-future/) - Obamacare will, I believe, be recorded in history as the most sweeping social program of our time. How will it impact you and your finances and what adjustments should you be begin making now to prepare for your financial future? For sake of discussion, I’ll skip past the disastrous roll-out of the healthcare.gov web site even
- [Charity Swindlers- Don’t You Be a Victim!](https://welchgroup.com/charity-swindlers-dont-you-be-a-victim/) - CNN’s Anderson Cooper 360 television program recently aired an investigative report on charities that take in millions and pay out pennies to the intended beneficiaries. So where do the millions end up? Unfortunately the bulk of the money is going to the organizers and, in many cases, to the actual fund raisers…those annoying people who
- [Decision Time for Alabama PACT Contract Holders](https://welchgroup.com/decision-time-for-alabama-pact-contract-holders/) - It’s official. The State of Alabama officially reneged on its promise to college-bound students this week when the judge approved a class-action lawsuit settlement that allowed the state to forever ‘freeze’ future tuition payments based on 2010 tuition fees. One Birmingham News reader, Susan, wrote me in disgust saying that she purchased the five-year payment contract for
- [Six Best Strategies for Your Income Tax Refund](https://welchgroup.com/six-best-strategies-for-your-income-tax-refund/) - For 2017, the average tax refund is expected to be $2,763. For a lot of people, this is the most amount of money they’ll have at one time during the whole year. Unfortunately, most folks squander the money and a month after receiving it, they couldn’t tell you what they did with their refund. Thoughtful
- [Helping Charities While Reducing Taxes- Part II](https://welchgroup.com/helping-charities-while-reducing-taxes-part-ii/) - Last week, I discussed a strategy for making charitable gifts by using the beneficiary designation under your retirement account instead of a specific bequest under your will and thereby potentially saving hundreds or thousands of dollars in taxes owed by your heirs. Today, I’ll review the various ways to give to charities before the end of
- [The Retirement Mindset Is Not So Easy](https://welchgroup.com/the-retirement-mindset-is-not-so-easy/) - Making the transition from working to retirement is often not as easy as it might seem especially when it comes to managing financial assets. A reader recently, rather astutely, addressed this issue with these comments: “One of the interesting shifts that occur as we get older has to do with enjoying the present and focusing
- [Special Posting - "The Secret to Success-Magic Formula"](https://welchgroup.com/special-posting-the-secret-to-success-magic-formula/) - What if there was a magic formula that would guarantee you could become, have or achieve anything you truly desired? Think for a moment…if you possessed such a magic formula, what would you choose to accomplish? In the financial arena, what would you buy? Where would you live? What would your home be like? Would you travel…and to where? What kind
- [Be Careful When making Personal Loans 6/17/07](https://welchgroup.com/be-careful-when-making-personal-loans-6-17-07/) - Be Careful When making Personal Loans 6/17/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 6/17/07 Be Careful When making Personal Loans 6/17/07 “Be Careful When Making Personal Loans” 6/17/07 Having been a financial advisor for over thirty years, I've seen just about every imaginable financial twist and turn. Requests for
- [7 Habits of Highly Successful Businesses](https://welchgroup.com/7-habits-of-highly-successful-businesses/) - Historically, only about thirty percent of new businesses survive during the first ten years of operation. Throw in the worst economic disaster since the Great Depression, and if you are a business owner, you want to model the habits of the most successful businesses. Buying a franchise at franchisesfor.sale is often an option considered by people
- [Be Your Own Boss? Plan for Success!-Part I](https://welchgroup.com/be-your-own-boss-plan-for-success-part-i/) - As plastic surgery marketing, 10% and job prospects for those seeking employment remain stilted, more and more people are considering pursuit of the dream of owning their own business so they can control their own financial destiny. Many great success stories were born out of adverse situations. For example, Julie Trade of Scottsdale, Arizona was
- [Health Insurance and Your Retirement](https://welchgroup.com/health-insurance-and-your-retirement/) - Perhaps the greatest issue facing retirees is paying for healthcare services. Research suggests that out-of-pocket expenses for healthcare cost retirees an average of $215,000. This is not an insignificant sum considering the average retiree has saved less than $50,000. Knowing this emphasizes the importance of developing a well thought out retirement healthcare strategy. If you are like most
- [Advice for the June Bride - Part II](https://welchgroup.com/advice-for-the-june-bride-part-ii/) - In last week's column, I discussed how establishing a sound financial footing will also provide a strong foundation for a great marriage. That's especially important because more than 75% of marriage difficulties have some roots in financial problems. When couples share common financial goals and work as a team to reach those goals, the
- [You’re a Smoker? Would You Rather Be a Millionaire?](https://welchgroup.com/youre-a-smoker-would-you-rather-be-a-millionaire/) - I’m actually impressed by how many fewer people smoke today than a couple of decades ago. Maybe the federal mandate requiring large-size warnings with all cigarette ads really did make a difference. For those of you who still smoke, particularly younger folks, you’ll want to avoid New York City. They just raised the price of
- [Income Options for Retirees](https://welchgroup.com/income-options-for-retirees/) - I recently received a letter from a Birmingham News reader signed, “A Frustrated Retiree”. In the letter he describes his frustration with the CD rates currently being offered by the banks and wants to know when rates will rise and what should he do with his money now in order to get more income. There
- [Hop on the Bus for Free Financial Advice](https://welchgroup.com/hop-on-the-bus-for-free-financial-advice-march-7-2010/) - Last week I discussed the importance of being prepared for the unexpected, specifically for incapacity. Another threat looming large is the dismal economy we currently face where layoffs continue to plague workers across the country. If you have money in the bank and a secure job, consider yourself lucky. Most Americans have little or no savings
- [Hop on the Bus for Free Financial Advice](https://welchgroup.com/hop-on-the-bus-for-free-financial-advice/) - Last week I discussed the importance of being prepared for the unexpected, specifically for incapacity. Another threat looming large is the dismal economy we currently face where layoffs continue to plague workers across the country. If you have money in the bank and a secure job, consider yourself lucky. Most Americans have little or no savings
- [The Art of Divorce - Part II](https://welchgroup.com/the-art-of-divorce-part-ii/) - Last week we began a discussion about the cost of divorce; what type of assets are subject to division; and the use of mediation versus the traditional divorce process where both sides choose an attorney and square off and fight it out… often resulting in higher attorney fees and significant emotional stress. The rules for
- [Buying a New Car-How to Get a Great Deal](https://welchgroup.com/buying-a-new-car-how-to-get-a-great-deal/) - Thinking of buying a new car but dreading negotiating with the salesperson? In this first of a 3-part series, I'll give you the step-by-step process for getting the best deal on your next new car purchase. Step 1. Review your credit history. Assuming you plan on financing your purchase, your first step
- [Winning the Credit Score Board Game](https://welchgroup.com/winning-the-credit-score-board-game/) - How much does your credit score really matter? I’ve heard everything from, “It doesn’t matter at all” to “It’s one of the most important parts of my finances!” Your credit score matters a great deal. If you have a poor credit score, you’ll likely find yourself unable to get credit at all except for possibly a
- [Your Best Car Deal Ever](https://welchgroup.com/your-best-car-deal-ever/) - Over the past two weeks, I have discussed how to get the best deal whether you are buying a new car or leasing a car. One question I am constantly asked is, “Is it smarter to purchase a car or lease one?” There is a financial answer as well as an emotional answer to
- [Protecting Your Property](https://welchgroup.com/protecting-your-property/) - Hurricane Katrina caused hundreds of millions of dollars of personal property damage throughout Louisiana, Mississippi and Alabama. In New Orleans, the water surge placed some homes 12 feet under water. Unfortunately, it can take a natural disaster to make you stop and think about how you should prepare to protect yourself in case you
- [Don't Become a Victim of Identity Theft](https://welchgroup.com/dont-become-a-victim-of-identity-theft/) - Within the past six months two clients have become victims of identity theft. Thieves have become particularly adept at cybercrime…using the internet to steal your money. In one case our client received an internet message complete with perfect bank logo and a message indicating there had been some possible illegal activity in his account. The
- [Does a Non-Deductible IRA Make Sense?](https://welchgroup.com/does-a-non-deductible-ira-make-sense/) - This is the last week before the April 15th deadline for contributing to an IRA account for calendar year 2007. Last week, I discussed how to choose between a deductible Traditional IRA and a Roth IRA. If you missed the article, go to www.welchgroup.com and click on ‘In The News', then click on ‘Stewart's Weekly
- [Dumping Your Timeshare](https://welchgroup.com/dumping-your-timeshare/) - Reader Question: My mother decided that she does not want to pay the $2500 maintenance fee on her resort timeshare. She told me she gets letters and phone calls and she does not care. She does not care if she forfeits the points because she never uses them. She told me she paid $1000 to
- [The Perfect Economy for Intra-Family Loans](https://welchgroup.com/the-perfect-economy-for-intra-family-loans/) - While everybody is bemoaning this terrible economy, it has created some outstanding opportunities. One excellent opportunity is in the area of intra-family loans. Federal law requires that loans of more than $10,000 between family members must carry a minimum interest rate known as the ‘applicable federal rate’ (AFR). This rate is re-set and published each month (Google ‘Applicable
- [Support our Veterans!](https://welchgroup.com/support-our-veterans/) - When you live every day in a free society, there is a tendency to take those freedoms for granted. The truth is that the freedoms we enjoy have come at a great cost and sacrifice by the legions of men and women who serve, and have served, in our armed forces. As a financial advisor,
- [Give Your IRA Away Tax Free - and Other Year-End Tax Strategies](https://welchgroup.com/give-your-ira-away-tax-free-and-other-year-end-tax-strategies/) - Reader Question: For Opções Binárias em Portugal, I was able to give a portion of my yearly IRA distribution directly to an approved charity (my church) tax free. I have been unable to determine if this type of distribution will be allowed for 2013 tax year. Please advise and thanks. D.D. Answer: First of all, this is a great idea
- [Thank You, Dad.](https://welchgroup.com/thank-you-dad/) - Recently, my father passed away one week shy of his 99th birthday. Right up until his short hospital stay, he was living on his own, keeping his own yard, driving and coming into the office every day. As I reflect on my best friend, I realize just how lucky I was to have him for
- [Identity Theft Tool Kit](https://welchgroup.com/identity-theft-tool-kit/) - Identity theft is more than a hassle. It can take a monumental amount of time to straighten out; at least temporarily devastate your personal finances; and create extreme emotional stress. Your best defense is a good offense so my recommendation is for you to establish your own ‘first alert’ system by doing the following: Order
- [The Good, the Bad, and the Ugly- The American Jobs Program](https://welchgroup.com/the-good-the-bad-and-the-ugly-the-american-jobs-program/) - President Obama unveiled his $447 billion jobs program about the same time Bank of America announced they would cut 30,000 jobs. It’s starting to feel like America is caught in a spaghetti western like The Good, the Bad and the Ugly where you can’t seem to catch a break. Likewise, President Obama’s plan contains a mixture
- [Become a Banker, Save the World](https://welchgroup.com/become-a-banker-save-the-world/) - “Become a Banker, Save the World” - Feburary 20, 2011 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC Feburary 20, 2011 How would you like to become a banker and help save the world? It used to be that we thought of bank CEO’s as pretty smart people. But after the financial
- [Who Should Be Your Executor?](https://welchgroup.com/who-should-be-your-executor/) - We were recently involved in helping clients work through the estate settlement for their father. The estate was sizable, but the diversity of assets was both small and not complex…investment accounts, home, personal property. The father’s will provided straight-forward instructions so you’d assume this would be an easy task. It wasn’t. Over the past forty-plus
- [Facebook IPO- Deal or No Deal?](https://welchgroup.com/facebook-ipo-deal-or-no-deal/) - The largest initial public offering (IPO) in history for an Internet company will occur this Friday when Facebook will offer approximately 330 million shares at an estimated $28-$35 per share. This represents about 16% of the company. The numbers suggest that Facebook is valuing itself at nearly $100 billion and will make chief executive officer, Mark
- [SECURE Act- President Signs New Retirement Tax Law](https://welchgroup.com/secure-act-president-signs-new-retirement-tax-law/) - President Trump signed into law the ‘Setting Every Community Up for Retirement Enhancement’ (SECURE) Act, which became effective January 1, 2020. This bipartisan bill offers some useful features along with some very bad changes for both the wealthy and average earners. The Good News Under prior law, you were required to begin taking Required Minimum
- [Retirement Planning’s ‘Stealth’ Risks](https://welchgroup.com/retirement-plannings-stealth-risks/) - In retirement planning people often fail to take into account what I call stealth risks, or risks that pop up out of nowhere. Learn how to plan for them.
- [Medicare – What You Must Do Right Now](https://welchgroup.com/medicare-what-you-must-do-right-now-4/) - If you are on Medicare, it is that time of the year again. We review plans to ensure you’re on the right track to save thousands of dollars.
- [Alabama Property Tax Exemption - Do You Qualify?](https://welchgroup.com/alabama-property-tax-exemption-do-you-qualify/) - It can be tough to discern whether or not you qualify for property tax exemption in Alabama. We examine exemption guidelines here.
- [Wealth Creation- Part 2: 5 Stages of Wealth](https://welchgroup.com/wealth-creation-part-2-5-stages-of-wealth/) - In my column last week, I discussed how to get started investing with as little as $1 a month. This week, let’s look at the five Stages of Wealth and determine how much you must accumulate to become financially independent. In my upcoming book, “The Fundamentals of Wealth Creation” (publish date: 2017), I discuss the
- [Money Quiz Revisited](https://welchgroup.com/money-quiz-revisited/) - Last week my column titled, The Money Quiz, created a bit of controversy particularly surrounding my formula for determining if you are ‘on track’ net worth wise, to becoming financially free by retirement. Here’s what I said under point number six in the quiz: Is your net worth on track? In order to become financially
- [Tips for Jump-Starting Your Finances for 2016- Part II](https://welchgroup.com/tips-for-jump-starting-your-finances-for-2016-part-ii/) - In my column two weeks ago, my colleagues provided 10 tips for jump-starting your finances for this year. In this week’s column, readers have offered their own favorite ideas: For one month, I put all of my change in a jar. For the month of December, I collected $46.16. Linda M. My comment: Congratulations, Linda!
- [The Downside of P.O.D.’s](https://welchgroup.com/the-downside-of-p-o-d-s/) - Last week I fielded a question from a reader about the perils of contingent beneficiary designations. This week I received a phone call from a prominent estate planning attorney recommending I discuss the pros and cons of using ‘Payable-on-Death’ (POD) agreements which are being used more and more by brokerage firms and banks. These agreements
- [Children and Money: How Young is Too Young?](https://welchgroup.com/children-and-money-how-young-is-too-young/) - A long-time friend of mine asked me my thoughts about how much financial support he should provide for his college-bound daughter. To her credit and on her own initiative, she took course work to become a licensed massage therapist, enabling her to earn a good living. In his case, he is in a financial position
- [Is Your Business Worth Anything?](https://welchgroup.com/is-your-business-worth-anything/) - The fatal flaw of most small businesses is a lack of financial preparation. Here we discuss how to analyze your businesses worth to jump start your financial future.
- [What To Do About Life Insurance](https://welchgroup.com/what-to-do-about-life-insurance/) - The conversation about life insurance is complex and dependent upon your current situation. Read our advice on purchasing life insurance for every stage of life.
- [7 Keys to a Killer Job Interview](https://welchgroup.com/7-keys-to-a-killer-job-interview/) - A successful job interview can be the beginning of a healthy and established financial future.Find our 7 tips for a killer job interview here.
- [100 Rules of Success: Giving Back and Never Giving Up](https://welchgroup.com/100-rules-of-success-giving-back-and-never-giving-up/) - Hear our thoughts on the Law of Reciprocity and how giving back can earn you something in return and read our tips on never giving up in the face of adversity.
- [Your Best Strategy for Investing in CDs](https://welchgroup.com/your-best-strategy-for-investing-in-cds/) - For most people, investing in stocks and bonds makes the most sense. Discover why investing in CD's instead may be your best option.
- [Is Your Stock Broker in Trouble with the Law?](https://welchgroup.com/is-your-stock-broker-in-trouble-with-the-law/) - If you notice a lot of trading of your mutual funds, it could mean that your stock broker is in legal trouble. Discover the early warning signs here.
- [100 Rules of Success: Power Up Your Bucket List](https://welchgroup.com/100-rules-of-success-power-up-your-bucket-list/) - Whether personal, financial or somewhere in between, you should set goals for yourself. Discover the benefits of creating a bucket list here.
- [Getting Out of Debt Fast](https://welchgroup.com/getting-out-of-debt-fast/) - Today, the average debt per household is $137,000 while average income is less than half that. We discuss the proper steps to getting out of debt fast here.
- [$125 for 5 Minutes of Your Time?](https://welchgroup.com/125-for-5-minutes-of-your-time/) - In 2017 hackers stole personal data for more than 147 million people from Equifax. Nearly ½ of all Americans were affected by the breach. As part of the settlement with the Federal Trade Commission, everyone whose data was stolen can get ten years of credit monitoring or up to $125.The payout could be as much
- [Is Congress Stealing a Chunk of Your IRA?](https://welchgroup.com/is-congress-stealing-a-chunk-of-your-ira/) - The backbone of every family’s retirement planning is, well, their qualified retirement plan, whether it be a 401k, IRA, Roth, or similar plan. We’ve been told we need to invest in a qualified plan because: Often you receive a matching employer contribution. You put in $200 per pay period, and they match it with $100
- [Year-End Tax Saving Strategies - Part II](https://welchgroup.com/year-end-tax-saving-strategies-part-ii/) - In last week’s column, I began with a list of strategies to help you save money on this year’s tax return. Here is the rest of my list of the best ideas: Get a State Income Tax Credit and Give a Scholarship. You may be aware of the benefits under the Alabama Accountability Act but
- [The Good, Bad and the Ugly of Fed Rate Hike](https://welchgroup.com/the-good-bad-and-the-ugly-of-fed-rate-hike/) - It’s been almost ten years since the Federal Reserve has raised interest rates. As the Fed cut rates in the aftermath of the Great Recession, retirees have suffered through historically low interest rates on savings instruments such as CDs, money market accounts and savings accounts. What does this one-quarter percent rate hike mean for investors
- [Your Goals for 2016?](https://welchgroup.com/your-goals-for-2016/) - Take a moment to reflect on this past year. What are some accomplishments that make you feel particularly happy? Are there areas that you feel you could have done much better if you’d given them more focus? Michelangelo famously said, “The greater danger for most of us lies not in setting our aim too high
- [Secrets of the Alabama 529 College Funding Plan](https://welchgroup.com/secrets-of-the-alabama-529-college-funding-plan/) - It’s been a while since I’ve written a column espousing the advantages of using a college 529 plan to help fund a college education. Recently I had a reader contest where I asked readers to submit their best money saving ideas to jump-start 2016. One reader, Linda W., focused on this topic and it was
- [Is a Roth a Good 401k Option?](https://welchgroup.com/is-a-roth-a-good-401k-option/) - Companies with 401k plans are increasingly offering employees a Roth investment option in addition to the regular (tax deductible) 401k. With the Roth option, you don’t receive an income tax deduction and your money grows tax deferred just like your regular 401k investment. However, at retirement, withdrawals from a Roth are tax free, whereas regular
- [Last Minute Tax Moves for 2015](https://welchgroup.com/last-minute-tax-moves-for-2015/) - While the door has closed on many tax moves for 2015, several opportunities are still available for the savvy planner. Individuals Traditional IRA- You can contribute up to $5,500 to a Traditional IRA (and so can a non-working spouse!). If you were age 50 or older last year, you can add an additional ‘catch-up’ contribution
- [Why Contingent Beneficiaries Matter](https://welchgroup.com/why-contingent-beneficiaries-matter/) - Reader Question: I have named two family members as beneficiaries in equal shares on my portfolio. I was advised to also name contingent beneficiaries. Will you explain what a contingent beneficiary is and what might happen if none are named? Also, I have named a different family member as POD on my savings accounts. Should
- [Shopping CD Rates Can Mean BIG Bucks](https://welchgroup.com/shopping-cd-rates-can-mean-big-bucks/) - Reader Question: According to information on www.BankRate.com, investors can earn higher interest rates on their savings and money markets by banking on-line than they can earn at local banks. For example, Synchrony Bank pays 1.25% on a one-year CD. Is there any risk in doing this? G.H. Answer: No, just be certain your bank is
- [Wealth Creation- Part I: How to Invest as little as $100](https://welchgroup.com/wealth-creation-part-i-how-to-invest-as-little-as-100/) - Think of someone you know who is rich. How did they get there? Well, one day they had a hundred dollars and decided not to spend it, but to invest it instead! Over the decades I have spoken to hundreds of people who simply feel lost regarding how and where to invest. They don’t know
- [Wealth Creation Pt 4: Be Your Own Boss](https://welchgroup.com/wealth-creation-pt-4-be-your-own-boss/) - More and more people are considering pursuit of the dream of owning their own business so they can control their own financial destiny. It also happens to be the number one path to wealth creation. One advice, to secure everything you have, you must attend some proper seminars on WindWard Private Wealth Management. Unfortunately, the
- [Anatomy of a Goal: I’ll Lose 15 Pounds in 30 Days!](https://welchgroup.com/anatomy-of-a-goal-ill-lose-15-pounds-in-30-days/) - We all hear successful people speak of the importance of having goals but most people either don’t have goals or the goals they do have are vague, not written down or not followed. So I thought it would be fun and instructive for you to follow me and one of my goals. I want to
- [Social Security Drop-Dead Deadline Fast Approaching](https://welchgroup.com/social-security-drop-dead-deadline-fast-approaching/) - I was shocked that, what seemed like in the middle of the night, members of both parties in Congress passed legislation soon ending two of the best Social Security claiming strategies. The first is called ‘File and Suspend’. As an example, let’s assume a married couple, both age sixty-six (full retirement age for Social Security)
- [Healthcare Planning for Retirement- The New Paradigm](https://welchgroup.com/healthcare-planning-for-retirement-the-new-paradigm/) - A decade or so ago, there wasn’t a lot of discussion about how healthcare costs could ruin a perfectly good retirement planning strategy. What has changed is the massive numbers of Baby Boomers headed for the retirement exits along with steeply rising healthcare costs. In today’s world, projected healthcare costs during retirement deserves to be
- [5 Strategies for an Outstanding Retirement](https://welchgroup.com/5-strategies-for-an-outstanding-retirement/) - You’ll likely spend approximately one-third of your life living out your retirement years so you want it to be a great experience. Having no money or little income is not my idea of a pleasant experience. Here are five strategies to help boost your retirement income: Trifecta Investing Strategy. If you fall into the twenty,
- [Student Loan Repayment Strategies](https://welchgroup.com/student-loan-repayment-strategies/) - Soon, thousands of college students across America will be graduating and seeking employment. Soon afterwards, the government will come knocking on their doors asking them to begin making payments on their student loan debt. As most people are well aware, the job market for graduates remains tight with many graduates having to settle for lower
- [Get That Job!  7 Strategies to Boost Your Odds](https://welchgroup.com/get-that-job-7-strategies-to-boost-your-odds-may-15-2016/) - Hundreds of thousands of students will soon graduate from high schools and colleges across the nation and will seek either summer or full-time jobs. It’s no secret that the job market continues to be very tight, especially for first-time job seekers. In many cases, you’ll have only one shot at making a great impression. Here
- [Six Habits of Superstar Employees](https://welchgroup.com/six-habits-of-superstar-employees/) - In last week’s column, I discussed seven tips for having a winning job interview. Once you’ve got that new job, here are the six habits for becoming a super star employee: “Lights on…lights off”. Before I started my first job, my father gave me this advice, “How you conduct yourself in the first six months
- [Smart Moves for College Graduates- Part I](https://welchgroup.com/smart-moves-for-college-graduates-part-i/) - As I reflect back on my college years I mainly remember how much fun it was and then once I entered the ‘real world’ feeling a bit shocked at the reality of it all. There is definitely a feeling of leaving one world and entering another completely different one. I also remember receiving very little
- [Smart Moves for College Graduates- Part II](https://welchgroup.com/smart-moves-for-college-graduates-part-ii/) - Last week, I outlined six smart moves including the concept of avoiding ‘bad debt’. If you missed it, visit ‘Stewart’s Commentary’ under the Resource Center at Welchgroup.com. Here are the remaining six smart moves: Avoid bad debt around owning a car. I once had someone tell me, “I thought you always had a car payment!”
- [Making College Pay](https://welchgroup.com/making-college-pay/) - I often hear people say, “You go to college to get an education.” I’d say a more accurate statement is, “You go to college to prepare you to get a (good) job!” Too many parents and students miss the subtle yet profound difference in these two statements. Let’s think about this for a moment. Does
- [I’m Retiring, Now What?](https://welchgroup.com/im-retiring-now-what/) - Reader Question: I have about $280,000 in a 401k and plan on retiring in August of this year. I will need to use some of this money to supplement my retirement. What would you suggest I roll it into? Answer: Let’s discuss three options: Leave your retirement money with your soon-to-be ex-employer. Some people choose
- [Considering a Divorce? Consider Your Options](https://welchgroup.com/considering-a-divorce-consider-your-options/) - The statistical needle hasn’t moved much over the past few decades. The divorce rate in America continues to hover around 50%. I wish this were not the case and I would strongly urge any couple to attempt any and all means to resolve their conflict through other means. Of all the divorces I’ve witnessed, most
- [5 Keys to a Successful Retirement](https://welchgroup.com/5-keys-to-a-successful-retirement/)
- [5 Money Tips for College Students](https://welchgroup.com/5-money-tips-for-college-students/) - Soon thousands of young adults will head to college, many for the first time. As parents, what is it that you hope they’ll learn from the college experience? Looking back on my own experience, I realize that I was shipped off with very little guidance and received virtually no guidance along the way. I guess
- [Best Moves to Avoid Identity Theft](https://welchgroup.com/best-moves-to-avoid-identity-theft/) - AL.com recently reported on the arrest of a two-man Detroit theft ring who were in possession of 177 stolen identities. Identity theft continues to be a growing multi-billion-dollar problem. I feel like the wildebeest crossing the crocodile infested Mara River. I’m only protected by the law of large numbers. What are your best moves to
- [Ways to Avoid Identity Theft](https://welchgroup.com/ways-to-avoid-identity-theft/)
- [2 Things Young Adults Must Do](https://welchgroup.com/2-things-young-adults-must-do/) - Parents, for most of you, these two “must-dos” for your young adult children probably never crossed your mind. A child becomes a “legal” adult in Alabama at age nineteen. Other states vary from age eighteen to twenty-one. Once a child crosses that legal threshold of child to adult, they need to: Sign an Advanced Directive
- [Must-dos For Young Adults](https://welchgroup.com/must-dos-for-young-adults/)
- [Compound Interest: Your Best Friend or Your Worst Enemy](https://welchgroup.com/compound-interest-your-best-friend-or-your-worst-enemy/) - Albert Einstein said, “Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t, pays it”. I agree with his statement but also believe most people don’t really understand the magic of compounding. About six months after starting my first post college graduation job, I started saving money from
- [Taxes Going up 8%?](https://welchgroup.com/taxes-going-up-8/) - The honeymoon had to end. For years online retailers have had a strategic advantage over brick and mortar stores by avoiding state income taxes on sales. My partner, Michael Wagner, CPA®, has the inside story on why that’s about to change. Stewart: Michael, explain to our readers how the Alabama sales taxes has worked for
- [Compound Interest](https://welchgroup.com/compound-interest/)
- [Online Purchases Tax](https://welchgroup.com/online-purchases-tax/)
- [5 Strategies for Downsizing Your Home](https://welchgroup.com/5-strategies-for-downsizing-your-home/) - As eighty million Baby Boomers move into retirement, many will find that their retirement savings when combined with Social Security will fall significantly short of providing for their retirement income needs. If this is you or someone you know, what are the best financial moves to help solve the problem? Certainly one of the best
- [Downsizing Your Home](https://welchgroup.com/downsizing-your-home/)
- [“Don’t Wait, Invest NOW!”](https://welchgroup.com/dont-wait-invest-now/)
- [“Does Owning Bonds Make Sense?”](https://welchgroup.com/does-owning-bonds-make-sense/) - Since the Great Recession in 2008- 2009, stocks have risen about 160%, widely out-performing bonds. In reaction to the Great Recession, the Federal Reserve reduced interest rates to near zero with the goal of re-starting a falling economy. As a result, bond interest rates have hovered near decades-long lows for the last five-plus years. Today,
- [Owning Bonds](https://welchgroup.com/owning-bonds/)
- [How Much Can You Save?](https://welchgroup.com/how-much-can-you-save/) - I’m often amazed at how much people inadvertently overpay for their insurance. In a way, it’s not too surprising since most insurance is complicated and figuring out how to get appropriate coverage at a fair price can be like solving the Rubik’s Cube puzzle. But if you get it right, you can save literally thousands
- [Saving on Insurance](https://welchgroup.com/saving-on-insurance/)
- [“Is It Time to Sell Stocks?”](https://welchgroup.com/is-it-time-to-sell-stocks/)
- [“What the Wells Fargo Debacle Means for You”](https://welchgroup.com/what-the-wells-fargo-debacle-means-for-you/) - It’s unfathomable that I’d be writing an article on how to protect yourself from your own bank. Recently Wells Fargo made headlines for being fined $185 million because over 5,000 employees opened millions of fraudulent bank accounts without the consent of their customers. In addition, these employees opened over 500,000 credit card accounts without customer
- [“Medicare – What You Must Do Right Now”](https://welchgroup.com/medicare-what-you-must-do-right-now-3/) - If you are on Medicare, you are facing a quickly approaching deadline and making changes could save you thousands of dollars. My partner, Kimberly Reynolds, MS, CFP® gives tips on how to research and find the best plan for you in 2017. Stewart: What is the deadline to make changes for 2017? Kimberly: Medicare open
- [Wells Fargo Controversy and You](https://welchgroup.com/wells-fargo-controversy-and-you/)
- [“Clinton Versus Trump: Who’s Best for Your Wallet?“](https://welchgroup.com/clinton-versus-trump-whos-best-for-your-wallet/) - This is certainly the craziest presidential election that I’ve ever witnessed. While the http://www.remotedba.com/consulting-services/ is typically only one consideration for database consulting, it is often an important one. I asked two associates Brett Norris and Foster Hyde, CFP®, CFA to scour each candidate’s website and compare their proposed changes in tax policy. Higher Income Earners
- [Presidential Candidates and Your Money](https://welchgroup.com/presidential-candidates-and-your-money/)
- [“Make This Your Best Thanksgiving”](https://welchgroup.com/make-this-your-best-thanksgiving/) - As Thanksgiving Day quickly approaches, it’s my observation that most people’s lives become more frantic and hectic. Whether it’s travel plans or planning the Thanksgiving Day meal, people have more to do and less time to do it. If you want to make this the best Thanksgiving ever, consider these four tips: Write down your
- [Thanksgiving Day Tips](https://welchgroup.com/thanksgiving-day-tips/)
- [“All I Want for Christmas is…”](https://welchgroup.com/all-i-want-for-christmas-is/) - Perhaps the best gift you could give yourself for Christmas is no new debt. Next to Alabama and Auburn football, the holiday season is one of the most exciting times of the year and each of us has a tendency to go a bit overboard with gift-giving and spending. As a result, too many people
- [“Obamacare: What Happens Now?”](https://welchgroup.com/obamacare-what-happens-now/) - Wow! This has been the craziest presidential election of our lifetime…maybe of all time. With Donald Trump staging an unprecedented upset victory over Hillary Clinton, what is the future of Obamacare? One of the cornerstones of the Trump campaign was a pledge to dismantle Obamacare which has experienced eye-popping escalation of premiums as well as
- [The Future of Healthcare](https://welchgroup.com/the-future-of-healthcare/)
- [“Make Money Like Trump”](https://welchgroup.com/make-money-like-trump/) - Fear, fear, fear. Yes, there is a lot of fear since the presidential election. The morning after the election I ran into a long-term acquaintance who told me, “This weekend, I’m placing my home on the market and I’m moving to Canada!” Of course, I thought he was joking. He wasn’t. This is a person
- [No Debt for Christmas](https://welchgroup.com/no-debt-for-christmas/)
- [Make Money Like Trump](https://welchgroup.com/make-money-like-trump-2/)
- [“Co-Signing a Loan?  Beware!”](https://welchgroup.com/co-signing-a-loan-beware/) - I can think of lots of reasons you might want to help out a family member or friend by co-signing on a loan for their behalf. For a child, it might be a car loan, bank loan, credit card application, student loan or home mortgage. For a friend, it might be a loan to consolidate
- [Co-Signing on a Loan](https://welchgroup.com/co-signing-on-a-loan/)
- [“What Your Doctor Won’t Tell You”](https://welchgroup.com/what-your-doctor-wont-tell-you/) - Reader Question: My husband and I both had living wills witnessed and signed by friends in 1994. Are these still acceptable (our friends have moved from the address shown on the forms) or should we re-do them with new witnesses? C.H. Answer: These documents may be fine but I’d strongly recommend that you update them
- [Healthcare Directives](https://welchgroup.com/healthcare-directives/)
- [“I Can Predict Your Financial Future”](https://welchgroup.com/i-can-predict-your-financial-future-2/) - After thirty-something years working with people and their finances, I have developed an ability to predict their financial future…usually after as little as a five-minute visit. I can even do it if I’ve never met you. Here are my predictions for your success in 2017: I predict… that if you create financial goals for 2017,
- [Year-end Tax Planning: Trump Style](https://welchgroup.com/year-end-tax-planning-trump-style-2/)
- [“The Greatest Gifts Really Are Free”](https://welchgroup.com/the-greatest-gifts-really-are-free/) - Friendship, love, a caring smile…are among the greatest free gifts we can give. What is truly rare is being able to give the gift of a better education to a young child who desperately wants the best education possible. And while it does cost money, it cost you nothing. Here to explain is my partner,
- [“Avoid This Costly IRA Rollover Mistake”](https://welchgroup.com/avoid-this-costly-ira-rollover-mistake/) - There are many reasons in the course of our lives that we might consider doing a retirement account rollover. And while we tend to think this is a routine matter, if done incorrectly, there can be huge negative financial implications. There are two ways to rollover a retirement account: Direct rollover. Whether it’s a 401k,
- [Predicting Your Financial Future](https://welchgroup.com/predicting-your-financial-future/)
- [“Smart Strategies for Your IRA- Part I”](https://welchgroup.com/smart-strategies-for-your-ira-part-i/) - When most people think of their IRA account, they think of it as part of a nest egg for their retirement but they don’t give a lot of thought regarding strategies for maximizing the effectiveness of their IRA. For example, many retirees postpone tapping their IRA until they are required to do so at age
- [“Smart Strategies for Your IRA- Part II”](https://welchgroup.com/smart-strategies-for-your-ira-part-ii/) - Last week, I began this two-part series with three smart strategies for your IRA. To review those strategies, visit the Resource Center at www.WelchGroup.com and click on ‘Stewart’s Commentary’. Strategy #4: Split out multiple beneficiaries. Typically, a parent will name multiple beneficiaries such as children and grandchildren. Left unchanged, each of the beneficiaries must use
- [IRA Strategies](https://welchgroup.com/ira-strategies/)
- [Smart Strategies for Your IRA](https://welchgroup.com/smart-strategies-for-your-ira/)
- [“College Funding: Avoiding the Kiddie Tax”](https://welchgroup.com/college-funding-avoiding-the-kiddie-tax/) - Reader Question: Our daughter who turned 19 in January will start her sophomore year of college in August. Last year we used $5,000 from HER mutual fund and were hit with a $1,000 tax bill. We want to avoid that this year, can you give us advice on the best way to pay college expenses
- ["Thinking About Getting Married?  Let’s Talk Money!"](https://welchgroup.com/thinking-about-getting-married-lets-talk-money/) - The following is an excerpt from my soon-to-be-released “Couples Guide to Personal Finances”. After thirty-plus years advising hundreds of couples, it has become evident that when couples have problems, invariably, disagreement about finances is in the mix. Therefore, if you can solve the money equation, you can go a long way towards creating and keeping
- [College Funding](https://welchgroup.com/college-funding/)
- [“Debt: Life’s Biggest Roadblock to Success”](https://welchgroup.com/debt-lifes-biggest-roadblock-to-success/) - When counseling couples who have financial problems, too much and inappropriate debt is almost always part of the root cause. Too much debt will make it very difficult for you to achieve financial independence. While it’s impractical to avoid debt completely, you should be able to maintain appropriate control of your debt. Years ago, a
- [Financial Advice for Couples](https://welchgroup.com/financial-advice-for-couples/)
- [“Dealing with Debt: Part III”](https://welchgroup.com/dealing-with-debt-part-iii/) - Last week, I made the case that inappropriate debt was perhaps the single greatest roadblock to financial success and financial freedom for most people. The topic was the misuse of credit cards along with solutions for dealing with credit card problems. This week I’ll continue the debt discussion with three additional common debt traps. Debt
- [The Debt Rule](https://welchgroup.com/the-debt-rule/)
- [“Smart Moves for Handling Debt”](https://welchgroup.com/smart-moves-for-handling-debt/) - In a perfect world, you’d be debt free. If you must borrow money for purchases, stay within following guidelines. These guidelines will allow you to meet your obligations and still leave you money for investments, charitable giving, vacations and other expenses. Debt Guideline #1: Your Total Debt Payment. Your total debt payments, including your mortgage
- [Dealing With Debt](https://welchgroup.com/dealing-with-debt/)
- [“A New Tax-Deferred Savings Plan”](https://welchgroup.com/a-new-tax-deferred-savings-plan/) - By now, most folks are familiar with the advantages of saving for college through a 529 college savings plan. The State of Alabama passed similar legislation that allows people to save and invest on behalf of people with disabilities. It’s called the ‘Achieving a Better Life Experience Act’ with the nick-name ‘ABLE’ accounts. Here are
- [Smart Moves for Handling Debt](https://welchgroup.com/smart-moves-for-handling-debt-2/)
- ["Choosing a Financial Planner"](https://welchgroup.com/choosing-a-financial-planner/) - Financial planning can be helpful for everyone, regardless of their income or their experience handling their money. Deciding on which planner to hire is a key decision, akin to finding a physician or attorney. Since you don’t want to make this decision more than once, you should make your choice very carefully. Here are the
- [New Tax-Deferred Savings Plan](https://welchgroup.com/new-tax-deferred-savings-plan/)
- [“What to Do with Your Term Life Insurance?”](https://welchgroup.com/what-to-do-with-your-term-life-insurance/) - Term life insurance is purchased by the billions every year to solve a myriad of potential problems. Perhaps the most-often reason is to provide financial protection for the family should the primary income earner die prematurely. A case in point… Many years ago, as part of a routine financial planning survivorship analysis, we recommended a
- [Choosing a Financial Planner](https://welchgroup.com/choosing-a-financial-planner-2/)
- [“What to Do with My Cash Value Life Insurance?”](https://welchgroup.com/what-to-do-with-my-cash-value-life-insurance/) - Ok, I know life insurance is one of the more boring topics in financial planning but let me begin this topic with a true story. Not long ago a gentleman in his early seventies called asking to meet to get our advice regarding a life insurance policy he had purchased decades earlier. During the meeting,
- [Term Life Insurance](https://welchgroup.com/term-life-insurance/)
- [Did You Miss This Deadline?  It Will Cost You 50%!](https://welchgroup.com/did-you-miss-this-deadline-it-will-cost-you-50/) - Think…do you know anyone who turned age 70 last year? If yes, and they turned seventy during the first half of 2016, then they must take a Required Minimum Distribution (RMD) from their IRA(s) no later than April 1, 2017. Failure to do so will result in a 50% federal penalty unless they can get
- [Life Insurance](https://welchgroup.com/life-insurance/)
- [Life Insurance Gets (Another) Black Eye](https://welchgroup.com/life-insurance-gets-another-black-eye/) - Caveat Emptor…let the buyer beware. Caveat emptor should not apply when you buy life insurance to protect your family, but it most certainly does. Imagine that you purchased a life insurance policy and you die while the policy is in force. Your family never collects because they don’t realize (or remember) that you had the
- [Protecting Your Family with Life Insurance](https://welchgroup.com/protecting-your-family-with-life-insurance/)
- [Age 70? Here’s a Little-Used Tax Strategy](https://welchgroup.com/age-70-heres-a-little-used-tax-strategy/) - In 2015, Congress made permanent the law allowing Qualified Charitable Distributions (QCDs) which allows someone who is age 70½ or older to make Required Minimum Distributions (RMDs) directly to a qualified charity and exclude that distribution from income. As a reminder, when you turn age 70 ½, you must begin to take IRS-mandated minimum distributions
- [Money-Wise Even in Death](https://welchgroup.com/money-wise-even-in-death/)
- [Retirement: Are You on Track?](https://welchgroup.com/retirement-are-you-on-track/) - Even for millennials, retirement will be here before you know it. So, how are you doing? Yes, I mean you personally. Below is a crude measuring stick you can use to see if you are on track for saving enough money so that you don’t have to take a huge cut in income during your
- [Tax Strategy for Those Age 70 and Older](https://welchgroup.com/tax-strategy-for-those-age-70-and-older/)
- [I Graduated from College, Now What?](https://welchgroup.com/i-graduated-from-college-now-what/) - You just graduated from college? Congratulations and welcome to the real world! Just as leaving home and going to college was an abrupt change that required many adjustments on your part, so too will be the transition to getting a job and being fully responsible for your own financial wellbeing. Here are some tips to
- [Are You On Track For Retirement?](https://welchgroup.com/are-you-on-track-for-retirement/)
- [What’s in Your Wallet?  6 Tips for avoiding ID Theft](https://welchgroup.com/whats-in-your-wallet-6-tips-for-avoiding-id-theft/) - She was pushing the grocery cart down the aisle with her purse in the upper basket. She looked away for just a moment to select an item from the shelf and someone stole her purse. He left his wallet on the passenger seat of his locked car while he ran back into the house to
- [Advice for College Gradutes](https://welchgroup.com/advice-for-college-gradutes/)
- [Is Your IRA Safe from Lawsuit?](https://welchgroup.com/is-your-ira-safe-from-lawsuit/) - That was a big unanswered question on the minds of financial advisors and many IRA owners throughout Alabama until recently. Now advisors can confidently tell their clients that their IRA is protected against the claims of creditors. Unlike 401k and similar plans which are protected from creditors under federal law, IRAs, if protected at all,
- [6 Tips for Avoiding ID Theft](https://welchgroup.com/6-tips-for-avoiding-id-theft/)
- [Understanding The IRA Protection Bill](https://welchgroup.com/understanding-the-ira-protection-bill/)
- [July 4th, Financial Independence Day](https://welchgroup.com/july-4th-financial-independence-day-2/) - On July 4, 1776, a small band of colonial leaders declared independence from the Kingdom of Great Britain. The American Revolution changed the course of world history forever and launched a nation that no other has since rivaled. In the spirit of the heroes of the American Revolution, would you be willing to consider declaring
- [What I'm Doing About My Social Security](https://welchgroup.com/what-im-doing-about-my-social-security/) - I woke up in the middle of the night thinking about Social Security. While this is not the topic you want to keep you up at night, I did think my thought process might be helpful to others who must make the important, and often irreversible, decision about when to begin taking Social Security retirement
- [Living Large on a Small Budget](https://welchgroup.com/living-large-on-a-small-budget/) - The following is a modified excerpt from my recently published book, “100 Tips for Having a Champagne Retirement on a Shoestring Budget”, which was a collaboration among all of my associates. Can you have the car of your dreams even if you don’t have a lot of cash? Absolutely! A friend of mine owned a
- [Social Security Strategy](https://welchgroup.com/social-security-strategy/)
- [Retirement Savings: How Much is Enough?](https://welchgroup.com/retirement-savings-how-much-is-enough/) - The following is a modified excerpt from my recently published book, “100 Tips for Having a Champagne Retirement on a Shoestring Budget”, which was a collaboration among all of my associates. Tip #22: Incrementally Increase Your Savings Over Time One of the best things you can do when starting out in the “real world” is
- [Own Your Home?  Follow These Tips](https://welchgroup.com/own-your-home-follow-these-tips/) - The following is a modified excerpt from my recently published book, “100 Tips for Having a Champagne Retirement on a Shoestring Budget”, which was a collaboration among all of my associates. Tip #14: Share Home Maintenance Tools Consider splitting the cost of a high-priced home maintenance tools that you rarely use. A few years ago,
- [Retirement Savings](https://welchgroup.com/retirement-savings/)
- [July 4th, Financial Independence Day](https://welchgroup.com/july-4th-financial-independence-day/) - On July 4, 1776, a small band of colonial leaders declared independence from the Kingdom of Great Britain. The American Revolution changed the course of world history forever and launched a nation that no other has since rivaled. In the spirit of the heroes of the American Revolution, would you be willing to consider declaring
- [Six Rules of Successful Investing](https://welchgroup.com/six-rules-of-successful-investing/)
- [Financial Independence Day](https://welchgroup.com/financial-independence-day/)
- [Money Tips for College Students](https://welchgroup.com/money-tips-for-college-students/)
- [College Student?  Do This!](https://welchgroup.com/college-student-do-this/) - I want to encourage all college students (and their parents) to give considerable thought about how your choices now will impact your future. Look into your crystal ball at the time of graduation; then five years later; then ten years later…and do it from a financial perspective based on the major you’ve chosen (or are
- [5 Traits of Wealth Accumulators](https://welchgroup.com/5-traits-of-wealth-accumulators/) - In my company, our advisors work with hundreds of multimillionaires. A few inherited their wealth and are taking a disciplined approach to managing and growing their wealth, but most created their millions through their own ingenuity. When you’ve been doing this work for decades, you begin to notice things…that these highly successful people have certain
- [Financial Decisions for College Students](https://welchgroup.com/financial-decisions-for-college-students/)
- [Should I Take an Early Withdrawal from My IRA?](https://welchgroup.com/should-i-take-an-early-withdrawal-from-my-ira/) - Reader Question: My husband and I are in our mid-forties. I've been out of work since Oct 2015 and in November 2016 I taped into my IRA for $20,000. I'm still unemployed and in need of money for home improvements. Will it be wise to get another $10,000 out of my IRA for my home?
- [DOW 25,000?  Why Not?](https://welchgroup.com/dow-25000-why-not/) - In January of this year the Dow-Jones Industrial Average (DOW) crossed the historic 20,000 mark to much fanfare from Wall Street and the national media. By traditional measures, and depending on who you listen to, the market today is either fully valued or overvalued. The question I’m getting more often now is, “When are we
- [Should You Take an Early IRA Withdrawal?](https://welchgroup.com/should-you-take-an-early-ira-withdrawal/)
- [Could the DOW Hit 25,000?](https://welchgroup.com/could-the-dow-hit-25000/)
- [Help a Child Get a Better Education…for FREE](https://welchgroup.com/help-a-child-get-a-better-educationfor-free/) - I was speaking with a mayoral candidate who wants to focus on improving education in the inner-city schools. He said a high percentage of high school graduates scored less than 10% on math competency test. And that’s just the tip of the iceberg. A good education is the foundation for a better life and critical
- [3 Steps to Getting Out of Debt](https://welchgroup.com/3-steps-to-getting-out-of-debt/)
- [Alabama Accountability Act](https://welchgroup.com/alabama-accountability-act/)
- [3 Steps to Getting Out of Debt](https://welchgroup.com/3-steps-gettting-debt/)
- [Quitting Smoking & Investing in Stocks](https://welchgroup.com/quitting-smoking-investing-in-stocks/)
- [Prepaying Funeral Expenses](https://welchgroup.com/prepaying-funeral-expenses/)
- [Experts Offer Free Financial Advice](https://welchgroup.com/experts-offer-free-financial-advice/) - Whether you’re a seasoned saver gearing up for retirement or a college graduate just beginning to navigate your finances, free help is on the way! The Financial Planning Association (FPA) of North Alabama and the Alabama Securities Commission, will co-host the 2017 Financial Planning Expo this coming Tuesday, October 24, at the Hoover Public Library
- [Reverse Mortgage Restrictions](https://welchgroup.com/reverse-mortgage-restrictions/)
- [Your Identity Has Been Stolen: NOW WHAT?](https://welchgroup.com/your-identity-has-been-stolen-now-what/) - The Equifax cyberbreach almost seems like an old news story but I assure you, the main plot is yet to unfold. On July 29th, Equifax discovered hackers had stolen critical data of 143 million Americans. Do you think you are one of the lucky ones who was not affected? Probably not. Think about it. There
- [Hurricane Aftermath: Misconceptions about Flood Insurance](https://welchgroup.com/hurricane-aftermath-misconceptions-about-flood-insurance/) - The only thing worse than enduring significant damage in a hurricane is realizing that your insurance company won’t cover your claim. According to a Texas insurance group, only about 15 to 20 percent of homeowners in Houston and Corpus Christi are insured for flooding -- everyone else was out of luck after Hurricane Harvey struck.
- [Your Identity Has Been Stolen, Now What?](https://welchgroup.com/your-identity-has-been-stolen-now-what-2/)
- [“Avoid This IRA Rollover Trap”](https://welchgroup.com/avoid-this-ira-rollover-trap/) - Reader Question: I was unaware of the once per year rule, and in 2016 I took a partial distribution simultaneously from two different IRAs: one Traditional and one Roth. I took these distributions twice within a six-month period in 2016. Both times, I returned the funds, to the penny, within 60 days, back into the
- [Flood Insurance Misconceptions](https://welchgroup.com/flood-insurance-misconceptions/)
- [100 Rules of Success](https://welchgroup.com/100-rules-of-success/)
- [Experts Offer Free Financial Advice](https://welchgroup.com/experts-offer-free-financial-advice-2/) - Whether you’re a seasoned saver gearing up for retirement or a college graduate just beginning to navigate your finances, free help is on the way! The Financial Planning Association (FPA) of North Alabama and the Alabama Securities Commission, will co-host the 2017 Financial Planning Expo this coming Tuesday, October 24, at the Hoover Public Library
- [100 Rules of Success: Be Your Word](https://welchgroup.com/100-rules-of-success-be-your-word/)
- [Medicare – What You Must Do Right Now](https://welchgroup.com/medicare-must-right-now-2/) - If you are on Medicare, you are facing a quickly approaching deadline and making changes could save you thousands of dollars. My partner, Kimberly Reynolds, MS, CFP® gives tips on how to research and find the best plan for you in 2018. Stewart: What is the deadline to make changes for 2018? Kimberly: Medicare open
- [100 Rules of Success: Control Your Money](https://welchgroup.com/100-rules-of-success-control-your-money/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. SUCCESS IN PERSONAL FINANCES RULE: Control Your Money Most of us never had a personal finance class in high school or college nor were we taught about money by our parents. In fact, much
- [Control Your Money](https://welchgroup.com/control-your-money/)
- [Roth vs Traditional IRAs](https://welchgroup.com/roth-vs-traditional-iras/)
- [Success in Health](https://welchgroup.com/success-in-health/)
- [Smart Giving for Savvy Money Strategists](https://welchgroup.com/smart-giving-for-savvy-money-strategists/)
- [What’s Best: Roth or Traditional IRA?](https://welchgroup.com/whats-best-roth-or-traditional-ira-2/) - I am often asked which is the smarter investment, a Traditional IRA or a ROTH IRA? As with so many things, the answer is, “It depends”. In making your decision, let’s look at several key differences in the two retirement plans: Tax benefits. One of the primary benefits of investing in a Traditional IRA is
- [100 Rules of Success: Be Younger by Tomorrow](https://welchgroup.com/100-rules-of-success-be-younger-by-tomorrow/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. SUCCESS IN HEALTH “A man with good health is a man of 1,000 dreams; A man with poor health is a man with but one dream”. Success is not all about money. Think back
- [Trump Tax Plan: What You Need to Do Right Now](https://welchgroup.com/trump-tax-plan-what-you-need-to-do-right-now/) - Well, they did it. The Republicans (alone) passed the most comprehensive rewrite of the income tax code in thirty years (waiting on President Trump to sign into law). With very little time left in this tax year, here are the things you should consider doing before year-end in order to take full advantage of the
- [GOP Tax Bill](https://welchgroup.com/gop-tax-bill/)
- [Trump's Tax Plan](https://welchgroup.com/trumps-tax-plan/)
- [Goals for the New Year](https://welchgroup.com/goals-for-the-new-year/) - Few of us take the time to stop and take stock of our lives but if you take a moment to reflect, you will find that you, in fact, accomplished quite a lot this past year. But did you achieve your full potential? Like many people, you probably have not. It’s likely that your full
- [Reaching Your Full Potential](https://welchgroup.com/reaching-your-full-potential/)
- [100 Rules of Success: Be Younger by Tomorrow- Part 3](https://welchgroup.com/100-rules-of-success-be-younger-by-tomorrow-part-3/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. Over the past few weeks, we focused on how you can create success in the area of health by eating healthy using a simple eating plan and improve your heart health with an efficient
- [100 Rules of Success: Investing for Beginners](https://welchgroup.com/100-rules-of-success-investing-for-beginners/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. Success in Investing Investing does not have to be complicated. If you’re willing to establish and follow a handful of proven ‘rules of investing’ you can create a successful investment program. RULE: Avoid the
- [Choosing the Best Investment Environment](https://welchgroup.com/choosing-the-best-investment-environment/)
- [100 Rules of Success: Investing Part 2](https://welchgroup.com/100-rules-of-success-investing-part-2/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. Success in Investing Investing does not have to be complicated. If you’re willing to establish and follow a handful of proven ‘rules of investing’ you can create a successful investment program. RULE: Choose the
- [Trump Tax Plan: Two Strategies for Taxpayers](https://welchgroup.com/trump-tax-plan-two-strategies-for-taxpayers/) - On December 22, 2017, President Trump signed into law the most wide-sweeping tax reform of the past twenty years…The Tax Cuts & Jobs Act. Virtually every taxpayer will be affected so I interviewed one of my partners, Michael Wagner, CPA, CFP® about a couple of strategies you can implement to take advantage of the new
- [2 Strategies Under the New Trump Tax Plan](https://welchgroup.com/2-strategies-under-the-new-trump-tax-plan/)
- [100 Rules of Success: Investing Part 3](https://welchgroup.com/100-rules-of-success-investing-part-3/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. RULE: Special Rule for Retirees (Part 1)- Create an Impenetrable Safety Net. We’ve already discussed the importance of having cash reserves enough to cover unexpected occurrences (Rule: Avoid the Cardinal Sin of Investing), but
- [100 Rules of Success: Investing Part 4](https://welchgroup.com/100-rules-of-success-investing-part-4/) - What follows is the continuation of success habits that will become part of a book I’m writing, “100 Rules of Success”. RULE: Build the Perfect (Trifecta) Retiree Financial Statement. When you reach retirement, if you had the perfect financial statement, what would it look like? This is a topic most people never consider. People tend
- [More Money in Your Check, Will it Cost You?](https://welchgroup.com/more-money-in-your-check-will-it-cost-you/)
- [Alabama Money Expo](https://welchgroup.com/alabama-money-expo/)
- [Planning for Retirement](https://welchgroup.com/planning-for-retirement/)
- [Ask the Right Questions…of Your Financial Advisor](https://welchgroup.com/ask-the-right-questionsof-your-financial-advisor/) - If you want to achieve financial freedom by retirement age or earlier, you’re going to have to invest a lot of money. To invest successfully, you’ll either need to spend the time to learn how to invest or hand over at least a portion of the responsibility to a professional investment advisor. Choosing an advisor
- [Questions to Ask Your Financial Advisor](https://welchgroup.com/questions-to-ask-your-financial-advisor/)
- [This Tax Strategy…Going, Going, GONE!](https://welchgroup.com/this-tax-strategygoing-going-gone/) - I love the fact that the Trump Tax Cuts & Jobs Act (TCJA) puts money in almost every working American’s paycheck. We’re already beginning to see some of the effects with many corporations giving bonuses, expanding operations and creating jobs. Locally, ServisFirst Bank increased their dividend by 120% due, in part, to tax savings because
- [The Six Best Income Tax Refund Strategies](https://welchgroup.com/the-six-best-income-tax-refund-strategies/)
- [Interest Rates Are Rising- What You Should Do Now](https://welchgroup.com/interest-rates-are-rising-what-you-should-do-now/) - A Short History Lesson There’s an age-old saying, “Don’t fight the Fed”. What this means is that the smart money pays attention and takes cues from the Federal Reserve Board’s actions, particularly as it relates to changes in interest rates. The Fed Funds Rate is the interest rate set by the Federal Reserve for bank
- [Rising Interest Rates](https://welchgroup.com/rising-interest-rates/)
- [Business Plans for The Future](https://welchgroup.com/business-plans-for-the-future/)
- [Five Golden Rules of Money](https://welchgroup.com/five-golden-rules-of-money/)
- [7 Keys to a Great Job Interview](https://welchgroup.com/7-keys-to-a-great-job-interview/)
- [Giving Back and Never Giving Up](https://welchgroup.com/giving-back-and-never-giving-up/)
- [Best Strategies for Investing in CDs](https://welchgroup.com/best-strategies-for-investing-in-cds/)
- [When to Start Saving for Your Child's College Tuition](https://welchgroup.com/when-to-start-saving-for-your-childs-college-tuition/)
- [Is Your Stock Broker in Trouble With The Law](https://welchgroup.com/is-your-stock-broker-in-trouble-with-the-law-2/)
- [Power Up Your Bucket List](https://welchgroup.com/power-up-your-bucket-list/)
- [529 Plans- The Best Choice for College Funding](https://welchgroup.com/529-plans-the-best-choice-for-college-funding/) - In just a couple of months hundreds of thousands of young adults will be headed for college…and facing ever-rising tuition and fees. The average annual cost for a public college is around $25,000 and you can expect about double that amount for private colleges. Many college students are taking five years to complete their college
- [Consider a 529 Plan for College Savings](https://welchgroup.com/consider-a-529-plan-for-college-savings/)
- [Drugs: Are Your Children at Risk?](https://welchgroup.com/drugs-are-your-children-at-risk/) - It’s impossible to measure the human toll and financial impact the opioid crisis is having on families across America but addressing this problem is one of America’s most critical issues. Last year, more people died from drug overdose (66,000 estimated) than American service people killed in the entire Vietnam War! The annual number for opioid
- [Charitable Giving? Planning Now Can Save You Big Bucks!](https://welchgroup.com/charitable-giving-planning-now-can-save-you-big-bucks/) - With the new tax law, you need to start planning your 2018 charitable giving now versus year-end. While the decision to give to charity is typically not driven by the tax benefits received, you still want to ensure you are maximizing your tax savings each year. The new tax law nearly doubled the standard deductions
- [Planning Charitable Giving](https://welchgroup.com/planning-charitable-giving/)
- [The Psychology of Successful Investing: 3 Keys](https://welchgroup.com/the-psychology-of-successful-investing-3-keys/) - As we approach nine years of a bull market, it’s important to pause and review the keys to successful investing over a lifetime. Success in a bull market is not that difficult but creating success over a lifetime is a challenge that most individual investors will fail…and fail miserably. According to one study, the average
- [The Psychology of Successful Investing](https://welchgroup.com/the-psychology-of-successful-investing/)
- [Roth IRA Fundamentals](https://welchgroup.com/roth-ira-fundamentals/)
- [The Five Percent Rule for Stock Investing](https://welchgroup.com/the-five-percent-rule-for-stock-investing/)
- [The 5% Rule for Stock Investing](https://welchgroup.com/the-5-rule-for-stock-investing/) - There’s no such thing as a ‘risk-free’ investment. Even seemingly risk-free investments such as FDIC insured CDs, Money Market Accounts and U.S. Treasury Notes carry risks including long-term devaluation due to inflation and loss of purchasing power. Once you move into stocks, clearly no stock is devoid of risks. Stocks by their very nature have
- [The #1 Reason for Divorce?](https://welchgroup.com/the-1-reason-for-divorce/) - For decades, the divorce rate in America has hovered around fifty percent. And while the reasons vary, a common thread for the majority of divorces includes money problems. In fact, some studies suggest that money problems in a marriage are the number one cause of divorce. The financial and emotional toll of a divorce can
- [Resolving Financial Conflict in Marriage](https://welchgroup.com/resolving-financial-conflict-in-marriage/)
- [Teaching Children About Money](https://welchgroup.com/teaching-children-about-money/)
- [The $12 Million Roth IRA Strategy](https://welchgroup.com/the-12-million-roth-ira-strategy/)
- [Adult Children: Cutting the Cord](https://welchgroup.com/adult-children-cutting-the-cord/) - How much financial assistance should you provide adult children and for how long? I’ve had over forty years of observing parents, both wealthy and not, provide various levels of financial support for their children. First, I must confess, I have no children of my own, so my ‘experience’ comes strictly from my observations and the
- [Student Loans](https://welchgroup.com/student-loans/)
- [5 Things to Know About Savings Bonds](https://welchgroup.com/5-things-to-know-about-savings-bonds/)
- [50 Rules of Success: Be the Host](https://welchgroup.com/50-rules-of-success-be-the-host/) - What follows is the continuation of success habits that will become part of a book I’m writing, “50 Rules of Success”. Rule: Be the Host Most people who know me would probably not describe me as shy or a loner. The truth is that my natural state is a shy person who is perfectly happy
- [50 Rules of Success](https://welchgroup.com/50-rules-of-success/)
- [Reaching Your Financial Goals](https://welchgroup.com/reaching-your-financial-goals/)
- [The Queen of Soul Made One Big Mistake](https://welchgroup.com/the-queen-of-soul-made-one-big-mistake/) - Aretha Franklin, the Queen of Soul, had a net worth of approximately $80 million but died without a will. It’s inconceivable that she didn’t take time to draw a last will and testament, particularly since she had been diagnosed with pancreatic cancer. The result will virtually guarantee her heirs will spend a lot of unnecessary
- [Knowing When to Say No](https://welchgroup.com/knowing-when-to-say-no/)
- [You’re Approaching Retirement and in Debt, Now What?](https://welchgroup.com/youre-approaching-retirement-and-in-debt-now-what/) - A Study by the Employee Benefit Research Institute indicated that nearly 70% of retirees have debt and nearly 50% of retirees over the age of 75 are still managing debt. Managing cash flow during retirement is tough enough without also dealing with debt. As we advise our clients, our goal typically includes retiring all debt
- [Retirement and Debt](https://welchgroup.com/retirement-and-debt/)
- [Surprise Tax Bill in 2019](https://welchgroup.com/surprise-tax-bill-in-2019/)
- [Show Love for Your Children by Planning for Their Future](https://welchgroup.com/show-love-for-your-children-by-planning-for-their-future/) - One of the things I enjoy most in working with hundreds of client families is the overwhelming joy experienced when they bring a child into this world. It’s difficult to put into words, but there is something about a newborn baby that refocuses and reminds us of what is truly important. For new parents however,
- [Family Financial Planning](https://welchgroup.com/family-financial-planning/)
- [Chipmunk Savings Strategy](https://welchgroup.com/chipmunk-savings-strategy/)
- [Free Financial Advice Expo](https://welchgroup.com/free-financial-advice-expo/)
- [Medicare Enrollment](https://welchgroup.com/medicare-enrollment/)
- [Does Your Child Need a Trust?](https://welchgroup.com/does-your-child-need-a-trust/)
- [If You Don’t Have This, You Need It](https://welchgroup.com/if-you-dont-have-this-you-need-it/) - Last week I discussed the reasons you might need to set up a trust at your death for your children, whether they are young children or adults. This week I’ll focus on additional documents that are a critical part of your estate plan. Picture this. You handle the family’s finances and pay all the family
- [Ultrafico Score](https://welchgroup.com/ultrafico-score/)
- [Tree of Life Synagogue, Pittsburgh](https://welchgroup.com/tree-of-life-synagogue-pittsburgh/) - We, the Members and Staff of The Welch Group of Birmingham, are Resolved: That on this day, the 31st of October 2018 and henceforward, we stand with people of all faiths against acts of hatred and violence. In particular, given recent events that make this resolution particularly poignant, we stand with the Jewish community, both
- [Can Your Checking Account Improve Your FICO Credit Score?](https://welchgroup.com/can-your-checking-account-improve-your-fico-credit-score/) - Credit scoring for FICO has always been a mysterious black box. The credit rating bureaus keep the recipe a closely guarded secret. Fair Isaac Corporation Lenders (FICO) developed the credit scoring system used by most lenders and they just announced a new wrinkle…the UltraFICO Score. Their intention is to roll the new system out next
- [Estate Plans - What You Need](https://welchgroup.com/estate-plans-what-you-need/)
- [Alabama in Top 10 and it’s Not Football!](https://welchgroup.com/alabama-in-top-10-and-its-not-football/) - Alabamians have grown accustomed to seeing a top ten ranking when it comes to the College Football Playoff poll. Now Alabama is top ranked in another poll. Morningstar recently released its Morningstar Analyst Ratings for the best 529 college savings plans for 2018. Alabama received a “Silver” ranking, making it one of the Top 8
- [Saving for College](https://welchgroup.com/saving-for-college/)
- [Tis The Season for Giving](https://welchgroup.com/tis-the-season-for-giving/) - As the Thanksgiving Holiday approaches and we focus on what is most important in life, many will also begin planning for their annual charitable contributions. One of the most gratifying aspects of my job is helping people achieve a charitable intent, which ultimately manifests itself in a positive benefit on our community. I am amazed
- [The Season for Giving](https://welchgroup.com/the-season-for-giving/)
- [Retirement Savers: How Do You Stack Up?](https://welchgroup.com/retirement-savers-how-do-you-stack-up/) - Fidelity Investments recently released a study of its more than 30 million retirement account customers showing good news about average retirement account balances. The average account balance for 401-k savers was $106,500, a seven percent increase over twelve months ago. Investors who have been invested for five years accumulated, on average, $221,000. Those invested for
- [Stacking Retirement Savings](https://welchgroup.com/stacking-retirement-savings/)
- [Christmas is the Time for….](https://welchgroup.com/christmas-is-the-time-for/) - Giving. The Birmingham region has a national reputation as one of the most generous giving communities in the country. United Way of Central Alabama annual fund raising consistently ranks tops in the nation and exceeds the giving of many cities much larger than Birmingham. As we put Thanksgiving behind us and approach Christmas and all
- [7 Ways to Give](https://welchgroup.com/7-ways-to-give/)
- [2019 Financial Goals](https://welchgroup.com/2019-financial-goals/)
- [Investing for 2019](https://welchgroup.com/investing-for-2019/) - As investors, we’re pretty happy to see 2018 come to an end. This has been a year marked by stock market volatility for numerous reasons including trade wars, rising interest rates, Brexit, etc. The big question is, “What’s in store for 2019 and what should I (as an investor) do about it? Here’s what some
- [How Would You Define Rich?](https://welchgroup.com/how-would-you-define-rich/) - You know someone who has a very nice home and fancy cars and you think, “They must be rich”. But are they really rich? And how would you define rich? Is rich and wealthy the same thing? Too many people confuse a high income with being rich or wealthy. There are a lot of people
- [Why I Prepaid My Funeral Expenses](https://welchgroup.com/why-i-prepaid-my-funeral-expenses/) - Most people don’t think about their own funeral expenses…ever! It’s only after they die that another family member steps up and handles the details, often under emotional duress. Personally, I’ve had two experiences that shaped my decision to prepay my funeral expenses: Story #1 Years ago the wife of a friend of mine, who is
- [6 Habits of Superstar Employees](https://welchgroup.com/6-habits-of-superstar-employees-3/) - In last week’s column, I discussed 7 tips for having a winning job interview. Once you’ve got that new job, here are the six habits for becoming a super star employee: “Lights on…lights off”. Do you remember the movie, ‘The Karate Kid’? One of the most memorable scenes was when master martial artist, Mr. Miyagi,
- [Get That Job!  7 Strategies to Boost Your Odds](https://welchgroup.com/get-that-job-7-strategies-to-boost-your-odds-2/) - Hundreds of thousands of students will soon graduate from high schools and colleges across the nation and will seek either summer or full-time jobs. It’s no secret that the job market is extremely tight as the ripple-effect of the Great Recession that began in 2008 continues to be felt here in America. If you’ll be one of
- [Energen Terminates Pension Plan](https://welchgroup.com/energen-terminates-pension-plan/) - Over the past decade there has been a growing trend for companies to terminate defined benefit pension plans in favor of defined contribution retirement plans. One Alabama company, Energen, terminated its pension plan this year. Recently, employees of Energen received notice of their options regarding the terminated plan. With a defined benefit pension plan, a
- [Medicare & Social Security Decisions-Be Very Careful](https://welchgroup.com/medicare-social-security-decisions-be-very-careful/) - Reader Question: My wife and I are both elderly and she has dementia. At some point, she will probably have to go into an assistance living facility. Since I have her power of attorney, I changed the beneficiary on my IRA's (3 traditional and 1 Roth) to my daughter. She is our only child. If
- [Have You Reviewed Your Will Lately?](https://welchgroup.com/have-you-reviewed-your-will-lately/) - Take one moment and think about what your will says… Who does your will leave your assets to if you were to die today? If you are married and both of you died today, who would your estate go to? Would it go outright to those beneficiaries or would it go into a trust? And
- [Earn a 50% Return in 1 Month…Guaranteed](https://welchgroup.com/earn-a-50-return-in-1-monthguaranteed/) - Would you be wary of someone promising you a 50% return on a twelve month investment? How about a one month investment? I assume (hope) your early warning antennas are blaring in your head as well they should be. But there might be a way to actually make this happen for a number of really
- [The Holiday Money-Saving Idea Contest](https://welchgroup.com/the-holiday-money-saving-idea-contest/) - This past weekend, I dropped in at a retailer and they were playing Christmas music! The holiday season seems to begin just a bit earlier each year but it is a good reminder of how important it is to have a holiday spending plan in place so that you don’t start the new year in
- [Avoid This 50% Tax Penalty in 2015](https://welchgroup.com/avoid-this-50-tax-penalty-in-2015/) - This is one penalty you’ll want to avoid. If you (or someone you know!) are age 70½ or older this year, don’t forget that you must take a Required Minimum Distribution (RMD) from your retirement accounts before December 31st of this year. The federal penalty for failing to do so is 50% of the amount
- [Year-End Tax Saving Strategies](https://welchgroup.com/year-end-tax-saving-strategies/) - As 2015 quickly comes to a close, now is the time to sit down and consider what you might do to reduce your April 15 tax bill. Tax Loss Harvesting. The stock market is relatively flat for the year but most investors will find both winners and losers within their investments. Take a moment before
- [No Heirs, Lots of Money… What to do?](https://welchgroup.com/no-heirs-lots-of-money-what-to-do/) - Reader Question: Do you have any advice for a 68 year-old widow who is contemplating purchasing a hybrid long-term care/life insurance policy? The policy requires a one-time up-front deposit of $58,000 and will pay up to $3,000 a month for long-term care services (pays for up to 5 years). If you die before using the
- [Are Annuities a Good Idea?](https://welchgroup.com/are-annuities-a-good-idea/) - Reader Question: I’m 39 years old and have money in an IRA annuity which is invested 100% in the guaranteed interest account earning 3%. Should I change to a more aggressive mix? Answer: I have often written about the disadvantages of owning an annuity in an IRA. An annuity’s biggest advantage is tax deferral of
- [Should I Dump My Bonds?](https://welchgroup.com/should-i-dump-my-bonds/) - Reader Question: I am 66 years old and my wife and I are debt free. She is the beneficiary of a $5 million trust that is 100% invested in a number of bond funds including 20% in a high yield bond fund. My question is, “Should I sell the bond funds and buy stocks or
- [How to Avoid Probate](https://welchgroup.com/how-to-avoid-probate/) - Reader Question: How can I avoid probate at death? Answer: Probate is a court administered process whereby at death, the court oversees the transfer of your probate property from your name to the persons or organizations designated in your will. If you die without a will, your probate property is transferred according to state law.
- [Avoiding Probate - Part II The Living Trust](https://welchgroup.com/avoiding-probate-part-ii-the-living-trust/) - In last week’s column, I answered a reader’s question about how he could avoid probate. The key, I stated, was to make a list of every asset you own and then make sure each asset would transfer by either title or beneficiary designation. For example, if you owned a piece of real estate in your
- [4 Tips for Saving for Retirement](https://welchgroup.com/4-tips-for-saving-for-retirement/) - Recent research suggests that a full one-third of working Americans have no retirement savings. Another third have saved under $50,000. Thirty percent had saved more but fall far short of being on track to fully funding retirement based on their current lifestyle. Only about 4% were on (or above) track to accumulate enough wealth to
- [Life Insurance Refresher Course - Part I](https://welchgroup.com/life-insurance-refresher-course-part-i/) - Life insurance is one of the most complicated of financial products for consumers. Should I buy a policy that builds cash value? Should I stick with term insurance? Should I buy insurance on my spouse? How about my children? What follows is an excerpt from my (co-authored) recently published book, “J.K. Lasser’s New Rules for
- [Life Insurance Refresher - Part II](https://welchgroup.com/life-insurance-refresher-part-ii/) - In last week’s column I reviewed a few basics regarding life insurance. I suggested level term life insurance as the best choice for the family bread winner with the emphasis on being sure that you have plenty of life insurance while keeping your monthly premiums low. Most people underestimate just how much life insurance is
- [Buying Land with Your IRA](https://welchgroup.com/buying-land-with-your-ira/) - Reader Question: My mother has both qualified and non-qualified annuities. Could she use some of this money to set up a self-directed IRA and purchase raw land with it? What would be the consequences if she just bought hunting land with it? Answer: I get a lot of people who want to use their IRA
- [Identity Theft Action Plan](https://welchgroup.com/identity-theft-action-plan/) - Print or cut out this article and file it under “Help! Someone Stole My Identity!” Our government recently notified more than four million government workers that China had hacked the Office of Personnel Management and stolen personal data. Hackers have breached the Pentagon; Home Depot, Target, Google, Apple, Yahoo, AT&T, eBay, J.P. Morgan Chase… too
- [Is the Collapse of the Dollar Eminent?](https://welchgroup.com/is-the-collapse-of-the-dollar-eminent/) - Reader Question: I have about $100,000 in a 401K through my former employer and I'm thinking about taking either some or all of the money out. I would like to put it in some type of investment or CD that would allow me access to it fairly quickly and is fairly safe. I'm also concerned
- [Readers Strike Back](https://welchgroup.com/readers-strike-back/) - Reader Comment: My daughter has a 401k match from her employer. Her total salary is $20K and the match is 3% if she puts in 5%. The fees and options are not as good as she can get without the restrictions of her employer plan. For a start, they do not offer a Roth option.
- [Best IRA Withdrawal Strategy](https://welchgroup.com/best-ira-withdrawal-strategy/) - Reader Question: I am 64 and retired and will need to use some of my savings to live on for the next 5 years as I want to delay collecting Social Security. I will need about 3,000/month. Which would be the better financial solution: Would it be better to sell some stocks (all pay dividends) in
- [New, Higher Tax Credits…Yours for the Taking](https://welchgroup.com/new-higher-tax-creditsyours-for-the-taking/) - Reader Question: I heard that there are new rules related to the Alabama Accountability Act. Can you explain? Answer: Under the Alabama Accountability Act of 2013, you could receive a State of Alabama income tax credit of up to half of your state income tax liability by donating to a qualified Scholarship Granting Organization (SGO).
- [Helicopter Parents Beware!](https://welchgroup.com/helicopter-parents-beware/) - Next month, thousands of kids are headed off to college for the first time. I remember it like it was yesterday. Based on my high school academic prowess, my parents decided it was a good idea for me to get a head start on college by sending me to summer school the summer before my
- [6 Secrets to Your Best Retirement Plan](https://welchgroup.com/6-secrets-to-your-best-retirement-plan/) - Let’s face the facts…most people are not saving enough for their retirement. If this is you (or someone you know), here are some tips for helping create the best retirement possible with the resources based on the resources you do accumulate: Trifecta Investment Strategy. At the center of our Trifecta Investment Strategy is post retirement
- [Social Security Strategy- A Closer Look](https://welchgroup.com/social-security-strategy-a-closer-look/) - Reader comment: In your recent column it really seems that you have had at least a sip of the proverbial cool aid in your advice against taking Social Security at 66. A simple spread sheet shows that if you bank the after taxes SS benefits for four years you will not catch up with the
- [Emergency Fund- How Much is Enough?](https://welchgroup.com/emergency-fund-how-much-is-enough/) - We’ve all experienced Murphy’s Law at numerous points in our life and when it happens in our finances, it can be particularly painful. Often, the best defense is an emergency reserve fund you can turn to in a time of financial crisis. But, how much is enough and what’s the best way to set it
- [Social Security Trap?](https://welchgroup.com/social-security-trap/) - Reader Question: I understand the potential advantages of delaying social security past 66; one being that your spouse will have a higher benefit upon death of the primary earner. I was planning to delay SS for this reason. However, there have been several recent articles that indicate premiums for Medicare Part B coverage will skyrocket
- [Nervous About the Stock Market?](https://welchgroup.com/nervous-about-the-stock-market/) - After four years of a strong bull market in stocks, we’ve finally experienced our first technical “correction”. Monday’s stock market opened with a heart-stopping one thousand point drop of the Dow Jones Industrial Average. What was the cause and what should investors do in the wake of this stock market chaos? There appears to be
- [EE Bonds: Hold or Sell?](https://welchgroup.com/ee-bonds-hold-or-sell/) - Reader Question: My question is about EE U.S. savings bonds. I have bonds purchased in the late 1980's and all are due to mature in 2016-17. The rate on these bonds is 4% and needless to say the accumulated interest is more than the face value of the bonds. My plan is to give these
- [Medicare Trap Triggered by Roth Conversion](https://welchgroup.com/medicare-trap-triggered-by-roth-conversion/) - I recently answered a sixty-six-year-old reader’s question about the tax impact of converting his IRA to a Roth IRA. I pointed out that the dollars converted would be treated as ordinary income in the year of conversion and that he should make certain that he had money ‘outside’ his IRA to pay the taxes so
- [The Holiday Savvy Shopper](https://welchgroup.com/the-holiday-savvy-shopper/) - Retailers are already gearing up for the holiday selling season and I predict it will be filled with bargains for the savvy shopper. This season you’re going to have an opportunity to give great gifts without breaking your piggy bank if you follow these simple guidelines. Set a goal. Let’s start with your number one
- [Avoiding Taxes on Inherited Home](https://welchgroup.com/avoiding-taxes-on-inherited-home/) - Reader Question: When a couple’s home is inherited by their children, and the children then sell the home, does the home sale qualify for the tax exemption allowance on the profit without the children meeting the residency requirements (owned and lived in home as primary residence for two out of the previous five years) …assuming
- [A Thanksgiving Message](https://welchgroup.com/a-thanksgiving-message/) - With Thanksgiving Day just a few days away, it’s my observation that for most people’s lives become more frantic and hectic. Whether its travel plans or planning the Thanksgiving Day meal, people have more to do and less time to do it. As you go through the hustle and bustle of this season and as
- [Government Taxes Gifts To Your Children?](https://welchgroup.com/government-taxes-gifts-to-your-children/) - As calendar year 2014 comes to a close I find some people think about making gifts to children or other family members before year-end. Reasons for wanting to make these gifts vary widely including reducing future estate taxes; shifting income to a lower income tax bracket taxpayers; or the simple desire to transfer a particular
- [IRA Annuity- A Good Choice?](https://welchgroup.com/ira-annuity-a-good-choice/) - Reader Question: Please address the pros and cons of placing retirement funds in an annuity. The market has been volatile and there is talk of another drastic drop in the stock market. I’m looking for a sustainable investment. We would also like to pass on to children and grandchildren an inheritance if anything is left.
- [Last Minute Tax Benefits for 2014](https://welchgroup.com/last-minute-tax-benefits-for-2014/) - Better late than not at all. Congress voted to extend certain tax breaks this past week that include a couple of key taxpayer benefits. They also included a couple of new tax benefits as well. Here is a sampling: Required Minimum Distributions (RMDs) direct transfers to charity. When you turn age 70 ½, you must
- [2 Simple Strategies for Financial Success in 2015](https://welchgroup.com/2-simple-strategies-for-financial-success-in-2015/) - How happy are you with your financial success in 2014? How would you like 2015 to be your best year ever, financially speaking? Creating financial success does not have to be complicated. If you implement my two simple strategies, you can put your 2015 success on auto-pilot. Reverse Budget Strategy. Budget…such a distasteful six-letter word.
- [Where to Invest in 2015](https://welchgroup.com/where-to-invest-in-2015/) - Looking back, 2014 turned out to be a year of breaking records for the stock market. The Dow broke through 18,000 and the S&P 500 broke through 2,000 for the first time. Investors tend to get nervous when the market breaks into new territory as they anticipate a significant correction. So where is the best
- [Can I Avoid Taxes on Inheritance From Mom?](https://welchgroup.com/can-i-avoid-taxes-on-inheritance-from-mom/) - Reader Question: After my dad passed away last year, my mother came to live with my wife and me. She has an estate worth about $1,500,000 including $400,000 in cash; $800,000 in annuities (both non-qualified and qualified); $100,000 in a 5-year CD; $160,000 in one stock of a publicly traded large bank; and $90,000 in
- [Required Minimum Distributions on Roth IRAs? Say it Ain’t So!](https://welchgroup.com/required-minimum-distributions-on-roth-iras-say-it-aint-so/) - Last week’s column generated a couple of follow up questions from a couple of savvy readers! Reader Follow Up Question #1: This question had to do with the advisability of a sixty-five-year old doing a Roth conversion. I intimated that it made sense if the conversion could be done at lower tax brackets, say 15%,
- [Three Money-Making Concepts](https://welchgroup.com/three-money-making-concepts/) - The stock market started out this year a lot of negative volatility and has many investors worried that the next ‘crash’ is just around the corner. First know that it’s impossible to predict what the stock market is going to do and when it’s going to do it. It’s also very instructive to remember that
- [Still Time to Cut Your Tax Bill](https://welchgroup.com/still-time-to-cut-your-tax-bill/) - No doubt that you’re at least thinking about gathering your financial information needed to file your 2014 tax return. Well, add this article to the pile because here are potentially hundreds of dollars’ worth of tax-saving strategies. Max out your IRA contribution. You have until April 15, 2015 to contribute to a traditional IRA and
- [Take the Retirement Preparedness Quiz](https://welchgroup.com/take-the-retirement-preparedness-quiz/) - Whether you are already retired or planning to retire within the next ten, twenty or even thirty years or more, it’s never too early (or too late) to put a plan in place. Take a moment to take my Retirement preparedness Quiz to get a sense of where you are. Do you know approximately how
- [Is a $1 million Umbrella Liability Policy Enough?](https://welchgroup.com/is-a-1-million-umbrella-liability-policy-enough/) - Reader Question: After meeting with our financial advisor my husband and I, both retired, realized that our investments exceed the current $1 million umbrella policy we have. Your article stated that IRAs are safe “under most circumstances”. We don’t have risky lifestyles except we do own a cabin on a water-ski lake. Our home and
- [No Last Will & Testament? Read this Horror Story!](https://welchgroup.com/no-last-will-testament-read-this-horror-story/) - About thirty years ago, a widow came to me after her husband died suddenly. He basically had a great income, a very nice home with a large mortgage and a $1 million life insurance policy. Unfortunately, he did not have a will and the beneficiary of the life insurance policy was his estate…meaning the proceeds
- [Change a Child’s Life for Free!](https://welchgroup.com/change-a-childs-life-for-free/) - The Alabama Supreme Court has voted in favor of the Alabama Accountability Act which allows Alabama taxpayers to receive an income tax credit of up to half of your state income tax liability by donating to a qualified Scholarship Granting Organization (SGO). These scholarships provide money to allow students from low income households to transfer
- [The Art of Divorce - Part I](https://welchgroup.com/the-art-of-divorce-part-i/) - Fortunately, I do not have intimate knowledge of divorce proceedings (I’ve been married thirty-five years…I think!) but I recently heard a presentation by an attorney who specialized in divorce law and she confirmed a number of observations I’ve had over thirty-something years of practicing as a financial advisor and she opened my eyes to several
- [The Christmas Gift](https://welchgroup.com/the-christmas-gift/) - Today, Christians throughout the world celebrate the birth of Jesus Christ and His promise of everlasting life for those who choose to follow His word. Too often we get caught up in the busyness of the holiday season and miss its true meaning. Each of us is fortunate to live in this great country where we experience
- [Retirement Plan Loans and Withdrawals](https://welchgroup.com/retirement-plan-loans-and-withdrawals-2/) - The good news is that the economy continues to show signs of improvement and recent research suggests that incomes are beginning to rise. The bad news is that many workers continue to face financial strain and are seeking sources of money to solve pressing financial problems. One source often discussed is the money held in
- [Tis the Season of Giving](https://welchgroup.com/tis-the-season-of-giving-2/) - No doubt about it, December has everyone in the giving mood. People are busy buying and exchanging gifts, acknowledging friendships and the love of family members. Giving can also be smart tax planning while providing much needed support for those less fortunate in our community. Here’s a summary of the most popular ways people give and get a
- [What Would YOU Do With $1,000?](https://welchgroup.com/what-would-you-do-with-1000/) - With the holiday season finally behind us and the year of 2012 dead ahead, a reader asked me, “Stewart, What would you suggest I do with a $1,000?” You may have year-end bonus money, be expecting a tax refund or simply just have a few bucks burning a hole in your pocket. To get a broad
- [5 Steps to Success in 2012!](https://welchgroup.com/5-steps-to-success-in-2012/) - Since the Great Recession began in 2008, millions of Americans have been affected by the financial tsunami that has now swept across much of the world. As we consider our fate for the coming year it’s important to differentiate between ‘the’ economy and ‘our’ economy. There is very little that we can do regarding the U.S. or
- [Are Bonds Riskier Than U.S. Stocks?](https://welchgroup.com/are-bonds-riskier-than-u-s-stocks/) - Here are three questions from The Birmingham News readers: Question: Are investment grade bonds riskier than the stock market? V. F. This reader commented, “As we all know the stock market has both gyrated and gone sideways in the last decade. Yet when I seek to invest in A to BBB corporate bonds I
- [Too Big To Fail…Again](https://welchgroup.com/too-big-to-failagain/) - It reads like a 29,000 page conspiracy theorist novel and it took two years and the Freedom of Information Act to discover that the Federal Reserve, led by Ben Bernanke, secretly loaned the big banks more than $1.2 trillion in bail-out money on December 5, 2008. This secret lending ballooned to as much as $7.7
- [Surviving the Holidays…Financially Speaking!](https://welchgroup.com/surviving-the-holidaysfinancially-speaking/) - Black Friday…the biggest shopping day of the year. Thanksgiving officially kicks off the holiday season that will be filled with parties, gathering of friends and family and the sharing of gifts. It’s also a time to remain vigilant over your personal finances so that you don’t begin the new year with new debt. A recent survey suggests that
- [Is My Retirement Money Safe?](https://welchgroup.com/is-my-retirement-money-safe/) - This week, readers continue to search for answers to their most pressing financial questions. Here are the ones that I felt could benefit a cross-section of our readers: Question #1 “My wife and I are both retired and have our retirement savings in the Alabama RSA1 and federal TSP programs, both of which claim to have
- [Social Security Tax Strategies](https://welchgroup.com/social-security-tax-strategies/) - Last week I discussed several strategies for maximizing your social security benefits. This week I’ll examine some of the nuances of how your Social Security benefits are taxed and how you might be able to reduce those taxes. To determine if your Social Security benefit is taxable then you have to calculate what is
- [Social Security Secret Strategies](https://welchgroup.com/social-security-secret-strategies/) - Eighty million Baby Boomers are headed for retirement and for many, Social Security will be the centerpiece of their retirement income plan. Today, I’ll reveal three little-known strategies that just might put thousands of dollars in your pocket. First, let’s begin with a few basics. If you were born between 1943 and 1954 you can claim
- [401k’s Dirty Secret?](https://welchgroup.com/401ks-dirty-secret/) - In these turbulent financial times, people have lots of questions about their personal finances and investing their money. Here’s one reader’s question: I have a 401K of a high six figure account and I am thinking of rolling it over to an IRA. I am retired and feel that this may give me greater options. I
- [Reader Questions Retirement and College Funding Strategy](https://welchgroup.com/reader-questions-retirement-and-college-funding-strategy/) - I recently wrote about investment alternatives for retirees who are seeking higher income in today’s challenging investment environment. A younger reader wrote me with a question from his age group’s particular perspective: “My question is what do you recommend for someone that still has around 25 years left in the workforce. I’m maxing out my 401(k) at
- [Test post 2 on tv](https://welchgroup.com/test-post-2-on-tv/)
- [Stewart Welch - 7 Habits of a Successful Business](https://welchgroup.com/stewart-welch-7-habits-of-a-successful-business/) - Stewart Welch appearing on Fox News explains 7 Habits of running a successful business. Ideal for small business owners and entrepreneurs. To find out more visit Stewart's website, www.GetRichOnPurpose.com
- [Stock Market: Is It Time To Sell?](https://welchgroup.com/stock-market-is-it-time-to-sell/) - I’m getting more and more questions from nervous investors asking if it’s time to take profits and sell stocks in favor of fixed income investments such as money markets, CDs or bonds. The stock market has had a nice run over the past few years and certainly seems overdue for a rest. Add to that
- [Choosing the Right Financial Planner](https://welchgroup.com/choosing-the-right-financial-planner/) - As we continue to work our way out of the Great Recession of 2008, more and more people are realizing that they need financial advice but are often unsure of where to turn for that advice. Financial planning can be helpful for everyone, regardless of your income or your experience handling money. Deciding on whom
- [The Medicaid Trap](https://welchgroup.com/the-medicaid-trap/) - Reader Question: My wife and I are elderly and have one daughter that we would like to help with the money we have been able to save. It is likely that one or both of us could be in a nursing home within the next few years. Our money consists of approximately $700,000 dollars plus
- [Home Depot Disaster](https://welchgroup.com/home-depot-disaster/) - It happened to Target, now it’s happened to Home Depot. Thieves have hacked into Home Depot’s computer system and stolen credit card and customer data from an estimated 60 million customers. According to Home Depot spokesperson, the breach did not include on-line purchases but in-store purchases from April of this year through last week may
- [My 5 Top Strategies for Your 401K Plan](https://welchgroup.com/my-5-top-strategies-for-your-401k-plan/) - The 401(k) plan has become the foundation for building wealth for retirement of working Americans. Unfortunately I find that too many people are either not participating in their company 401k plan at all or are under-utilizing it. This is a financial mistake and if you fall into this group, now is the time to put
- [401K or Roth IRA, Which Is Best?](https://welchgroup.com/401k-or-roth-ira-which-is-best/) - Reader Question: I have both a 401k as well as a Roth IRA. I'm obviously putting enough in at least for the match. Which one should I put additional money in after the match? I'm 30 years old and not sure which one would give me the best tax treatment. E.L. Answer: First, I’m glad
- [Lump Sum or Lifetime Income?](https://welchgroup.com/lump-sum-or-lifetime-income/) - Reader Question: My former employer has offered a $73K + lump sum payment by Dec., 2014. Otherwise I could elect monthly payments of $530 @ age 65, or $460 to begin Dec, 2014. I am 63 years old in good health. Also how would you suggest investing the lump sum amount? Answer: First, let’s tackle
- [The Clock is Ticking…for Medicare Open Enrollment](https://welchgroup.com/the-clock-is-tickingfor-medicare-open-enrollment/) - It’s that time of the year again…. Medicare open enrollment. This year open enrollment runs from October 15 until December 7. Below are some points you should consider when deciding which plan is best for you in 2015. For your Medicare coverage, you have two main choices: Original Medicare. With Original Medicare you will want
- [Second Marriages and Home Ownership](https://welchgroup.com/second-marriages-and-home-ownership/) - Reader Question: My husband and I have separate Wills with designated beneficiaries since this is our second marriage. With regard to our home, which we own, if I should die first he would remain living there until he died, then the property would go to our respective beneficiaries to divide. Obviously this would prevent my investment in
- [The Value of a College Education](https://welchgroup.com/the-value-of-a-college-education/) - Recently, The Birmingham News ran a column that brought into question whether borrowing to pay for college made financial sense. The writer pointed out that the average student loan amount upon graduation topped $25,000. I presume the alternative to borrowing to pay for college was to not go to college and therefore avoid the debt. For 2012,
- [Age 70½ Required Minimum Distributions- Questions Persist](https://welchgroup.com/age-70½-required-minimum-distributions-questions-persist/) - Reader question:I turned 70 years old in January. When will I have to take my first Required Minimum Distribution (RMD) from my 401k? T.D. Answer: You have two choices. You can either take it by December 31st, 2012 or you can wait as late as April 1, 2013. When you take your RMD, it will be
- [Discount Broker a Good Choice for Your IRA?](https://welchgroup.com/discount-broker-a-good-choice-for-your-ira/) - Reader Question: In one of your columns, you addressed a question about investing unneeded money from required IRA distributions and one suggestion was to open a personal investment account at a discount broker and invest in no load mutual funds. That left me wondering. Since I will soon be taking IRA distributions, is there a
- [7 Traits of Highly Effective Leaders](https://welchgroup.com/7-traits-of-highly-effective-leaders/) - Whether you’re running your own business, heading up your team or simply running solo, here are the 7 traits of highly effective leaders. Trustworthy. Perhaps the single most important trait of a leader is trustworthiness. Trust is based on keeping the promises you make, both big and little ones. With some people, trust is built over time
- [Lotto Mania- Does it Make Cents?](https://welchgroup.com/lotto-mania-does-it-make-cents/) - Reader Question: The recent $600 million lottery set off a big buzz around the country. Is buying lottery tickets a good idea? S.R. Answer: Buying lottery tickets is just plain stupid. Over 150 million people spent a record $1.5 billion on lottery tickets so that three people could split just over $460 million. These odds define a loser’s game. Lotteries attract
- [Are Bi-Weekly Mortgage Payments a Good Idea?](https://welchgroup.com/are-bi-weekly-mortgage-payments-a-good-idea/) - Reader Question: I just refinanced my home and was offered the option of monthly payments or ‘bi-weekly’ payments which they say will save me lots of money because it will result in one ‘extra’ payment per year. Is this true and is it a good deal? C.H. Answer: If the bi-weekly payment offer is free, it’s your best
- [How Safe is the Internet?](https://welchgroup.com/how-safe-is-the-internet/) - My recent columns have sparked several follow up questions from readers. Reader Question: In a recent article you recommend www.Mint.com. I logged on and started through the steps until it asked for all my credit card information, bank account numbers, etc. How safe is giving out all that information online so they can access my
- [Give It or Lose It- Part II](https://welchgroup.com/give-it-or-lose-it-part-ii/) - In last week’s column, I discussed the case of the ninety-three-year-old who was worth $3 million and suggested that he consider giving $2 million to his daughters now under the current law that allows gifts up to $5 million without tax. Next year the estate tax exemption automatically drops from $5 million to $1 million. By
- [Give It or Lose It!](https://welchgroup.com/give-it-or-lose-it/) - I was recently working with a family on their estate plan that involved circumstances and decisions that could save hundreds of thousands of dollars in taxes if they take action this year. Before I get into the details allow me to set the context for potentially massive tax law changes that will occur next year
- [Reconciling Your Financial Life](https://welchgroup.com/reconciling-your-financial-life/) - A Birmingham News reader who obviously has his financial act together wrote me to discuss a topic related to the importance of tracking your finances. Here’s what he had to say: “I wanted to bring up a topic that I feel is very important to anyone in today’s expensive world. It is called ‘financial wealth
- [Lessons Learned From Celebrity Bankruptcies](https://welchgroup.com/lessons-learned-from-celebrity-bankruptcies/) - I’m always amazed at the attention and awe that the public attributes to celebrities. Whether that person is an actor, musician, athlete or business titan such as Donald Trump, the public’s fascination borders on fanatical. In reality they are full of human flaws just like each of us but because they are so much in
- [5 Strategies for Avoiding an IRS Tax Audit](https://welchgroup.com/5-strategies-for-avoiding-an-irs-tax-audit/) - With the April 15th income tax filing deadline just around the corner, I know many of you are busy gathering relevant information to file your tax return. The last thing you want is do something that flags your return by the Internal Revenue Service. Here is a list of the five most common errors that may
- [Alabama's New Power of Attorney](https://welchgroup.com/alabamas-new-power-of-attorney/) - Last year the Alabama Legislature passed two laws that you need to be aware of, one of which you need to give serious consideration regarding updating your estate plan. One of the most basic documents in your estate plan is a Power of Attorney. With this document you appoint someone; known as your agent, to
- [Reader Question: ‘Should I Buy an Annuity?’](https://welchgroup.com/reader-question-should-i-buy-an-annuity/) - This reader has money to invest and wants to know what their best strategy is right now. Question: “I’m age 70, have no debt with $100,000 to $200,000 available to invest but do not need the income. I’m considering buying an annuity that would pay for my life plus the lifetime of my wife. What do
- [Uncle Sam Pays for Your 401k](https://welchgroup.com/uncle-sam-pays-for-your-401k/) - Most people are not aware of the Savers Tax Credit whereby the federal government will pay you for contributing to your 401k plan, IRA, Roth IRA, SEP, SIMPLE, 457, 403b or other similar retirement plans. This program is designed to encourage lower income individuals and families to invest in retirement plans so as to make
- [Reader Asks About Blue Chip Stocks](https://welchgroup.com/reader-asks-about-blue-chip-stocks/) - Periodically, I answer questions directly from our readers. Here’s what’s on their minds: Question: “I am interested in investing about $100,000 in blue chip stocks. What are three stocks you’d recommend that pay good yearly dividends?” J.W. Answer: First let me make a point that you’ll want to own a minimum of ten to twenty stocks in
- [Predictions for 2012](https://welchgroup.com/predictions-for-2012/) - This past year included a lot of excitement but not much progress from an economic or stock market perspective. Extraordinary events included the near shut-down of our government; the downgrading of U.S. treasuries from AAA status; the near default of Greece; as well as a highly volatile stock market that could rise or fall several
- [This Is Your Life…](https://welchgroup.com/this-is-your-life/) - On July 4, 1776, a small band of colonial leaders declared independence from the Kingdom of Great Britain. The American Revolution changed the course of world history forever and launched a nation that no other has since rivaled. In the spirit of the heroes of the American Revolution, would you be willing to consider declaring
- [Free Financial Advice…Just for the Asking](https://welchgroup.com/free-financial-advicejust-for-the-asking/) - In these times of economic chaos, people are not sure where to turn for help in navigating through the financial headwinds. Well help is just around the corner and it’s free! All across the nation, professional financial planners are celebrating Financial Planning Week by offering free advice to anyone seeking answers to their most perplexing questions. In
- [10 Tips for Divorcing Couples](https://welchgroup.com/10-tips-for-divorcing-couples/) - The ‘D’ word. It happens in about 50% of the marriages in America. The reasons for divorce varies by couple but most of the cases have at least some roots in money issues. The tendency for most couples is to run out and hire a lawyer and let them do battle for you. Before you hire the lawyer,
- [How to Invest Small Amounts of Money](https://welchgroup.com/how-to-invest-small-amounts-of-money/) - Question: I am fortunate to have a six-month emergency fund but I know I must save more for my retirement. I am currently investing in my company 401k plan but know I also need to be investing more into something like a Roth as well. I don’t know anything about investing so I’ve tried reading various books
- [Children Suing Siblings Over Money](https://welchgroup.com/children-suing-siblings-over-money/) - In a recent meeting with a select group of estate planning professionals, probate specialist, Peter Wright of Sirote & Permutt P.C., outlined a number of issues that increase the frequency of lawsuits after the death of a family member. Here a few of the more common areas of concern: Poor family communication. In Peter’s experience, by
- [New Middle-Class Income Tax Coming](https://welchgroup.com/new-middle-class-income-tax-coming/) - This week is Estate Planning Week all across the nation and we want everyone to know how important it is to have a properly drawn will and accompanying estate planning documents. Ross Cohen, president of the Estate Planning Council of Birmingham, has this to say, “Estate planning is an all-important matter for every person
- [Who Wants to Be a Millionaire?](https://welchgroup.com/who-wants-to-be-a-millionaire/) - Do taxes influence behavior? You bet! And a recent analysis by USA TODAY shows that significantly increasing the taxes of tobacco products resulted in a marked decrease in tobacco use. Early in President Obama’s first term he signed legislation that raised federal taxes on cigarettes from thirty-nine cents per pack to just over $1 with the
- [The Federal Reserve: Three Strikes…You’re Out!](https://welchgroup.com/the-federal-reserve-three-strikesyoure-out/) - Federal Reserve Chairman, Ben Bernanke, just announced that the Fed will embark on yet another round of ‘quantitative easing’. Let’s call this round QE-Unknown. It’s unknown because he set no end date for the program and indicated that the Fed would purchase about $40 billion of mortgaged-backed securities on a monthly basis until such time as they,
- [40-Something Retirement Strategy](https://welchgroup.com/40-something-retirement-strategy/) - Reader Question: There seems to be lots of articles written about retirement planning for the ‘just getting started’ as well as the ‘I’m about to retire’ crowds but precious little written for the ‘I’m in my 40’s’ crowd. I am forty years old; make about $150,000 per year; have $350,000 in my 401k which I contribute
- [Choosing the Best Financial Advisor](https://welchgroup.com/choosing-the-best-financial-advisor/) - Reader’s Question: I need help! The world of personal finances and investing has become so complex that I feel there is no way to stay abreast of all the different types of investments and investment/financial planning strategies. I know the best athletes all have coaches so it seems logical to hire an investment and financial planning ‘coach’
- [How Risky Are Bonds?](https://welchgroup.com/how-risky-are-bonds/) - Reader’s Question: In a recent column you commented that bond holdings may face trouble ahead. Given the diversity of different types of bonds (muni’s, treasuries, corporate bonds, international bonds, long bonds, short bonds, etc.) your advice seemed over-generalized. Are you suggesting all bonds are headed for trouble? Could you be more specific? K.Z. Answer: Bonds values move inversely with
- [Reader Question: Where to Invest My Cash?](https://welchgroup.com/reader-question-where-to-invest-my-cash/) - Reader’s question: I’m in my early sixties and have $81,000 in my bank money market account and don’t know what to do with it. I have never bought a stock or mutual fund in my life. I’m obligated under a court decree to pay for my son’s (age 14) college, which may mean I can never retire! I
- [More Questions on Roth IRAs](https://welchgroup.com/more-questions-on-roth-iras/) - Recent columns have generated follow up questions from readers: Readers Question: In last Sunday’s column, you stated that Roth IRA withdrawals are taxable if withdrawn within 5 years of the date of the first contribution. I believe it is only the earnings that are taxable if withdrawn in this timeframe – the contributions
- [Avoid Death Taxes with a Transfer on Death Agreement?](https://welchgroup.com/avoid-death-taxes-with-a-transfer-on-death-agreement/) - Reader Question: My father added a ‘transfer on death’ (TOD) agreement to his investment accounts which are valued at about $2.5 million. My two siblings and I are the beneficiaries of the TOD account. His total estate is approximately $3.25 million. He did this with the intention of keeping that part of his wealth out of his
- [Improving Your Credit Score](https://welchgroup.com/improving-your-credit-score/) - Reader’s Question: I recently requested and received a copy of my credit report from Transunion. They gave me four reasons why my credit needed addressing. I have a Home Equity Line of Credit that is set up for ‘interest-only’ payments until it balloons in 2018. Transunion stated, "The amount paid on this loan is too low." When
- [Roth IRA Conversion- Tax Consequences?](https://welchgroup.com/roth-ira-conversion-tax-consequences/) - Reader Question: This question may help a lot of people deciding on Roth IRA conversions. With a traditional non-deductible IRA what, if any, taxes are due if you convert it to a Roth IRA? Can you give an example? My understanding is that you don’t have to pay taxes on the amount contributed…only on the ‘growth’ or profit
- [The Great Recession- Act II?](https://welchgroup.com/the-great-recession-act-ii/) - As we pass the halfway mark for this year the global economy appears to be decelerating. Let’s look at the data and then discuss how investors should position their investments to prepare for the possibility of a double-dip recession. China, the world’s second largest economy is showing signs of inflation easing along with outright deflation
- [Day Trading Your 401k Account](https://welchgroup.com/day-trading-your-401k-account/) - Reader Question: I read an article recently about people day trading their 401k accounts in an effort to get higher returns as they approach retirement. Their reason was that the buy and hold strategy has not worked. What are your thoughts about this? R.J. Answer: I’ve been in the day trading management business for over thirty years and in
- [ObamaCare: What Does It Mean for Me?](https://welchgroup.com/obamacare-what-does-it-mean-for-me/) - Reader Question: The Supreme Court upheld the validity of the Obama healthcare plan. What does this mean for the average consumer? J.C. Answer: ObamaCare, as it has been dubbed, provides universal healthcare for all Americans and mandates that everyone participate. Lower income American’s will either be added to the state Medicaid insurance plans at no cost or
- [$750,000 Fee to Settle an Estate?](https://welchgroup.com/750000-fee-to-settle-an-estate/) - Reader question: Several weeks ago you wrote an article about estate planning. What is the cost of preparation of a return for an estate of a million dollars (just a ball park)? F.W. Answer: This is a very important question and the correct answer is ‘it depends’. Before you accuse me of using a ‘Bill
- [401k Losses…Who’s Responsible?](https://welchgroup.com/401k-losseswhos-responsible/) - Reader’s question: We all see the market going up and down but when I received my 401k statement recently it had lost as much as I had invested (10%) in the 1st quarter. I am getting closer to retirement but fear I’ll not have enough money to do so. I have a child out of college
- [Is Life Insurance a Good Investment?](https://welchgroup.com/is-life-insurance-a-good-investment/) - Reader Question: I am 52 years old and would like to retire soon and we have our home and all property paid for with $1.5 million in savings. We have cash value life insurance policies which are requiring payments every year. Should we keep them as an investment or cash them out? Answer: First, congratulations! $1.5
- [Avoiding Taxes When Selling Your Home](https://welchgroup.com/avoiding-taxes-when-selling-your-home/) - Reader Question: In a previous column, you discussed the exemption of tax on the profits for the sale of a personal residence ($250,000 for single filers; $500,000 for couples). My questions are, “Do you include the costs of upgrades/renovations in addition to what you paid for your home? And if there is a taxable profit,
- [Income Options for Retirees- Part II](https://welchgroup.com/income-options-for-retirees-part-ii/) - Any investor who is seeking cash flow from their portfolio is likely feeling a great deal of frustration about the current investment environment. The Federal Reserve has orchestrated historically low interest rates in an effort to stimulate our anemic economy. Retirees have been especially hard-hit as CDs purchased before 2008 are maturing and similar investments are yielding
- [How To Avoid Becoming A Victim](https://welchgroup.com/how-to-avoid-becoming-a-victim/) - When the economy tanks and unemployment rises, so does petty crime. This has certainly shown up in my community in the form of home and vehicle break-ins. Being robbed of your possessions is not the end of the world but it’s pretty disturbing and an unwanted distraction. I recently became a victim when someone stole
- [Roth Conversion Can Create a Tax Trap](https://welchgroup.com/roth-conversion-can-create-a-tax-trap/) - Reader question: I plan to retire in the next 5-8 years at 58 years old and expect to have approximately $800,000 in my 401K plan. I originally planned to move my 401K plan into a traditional IRA so I could have more control and more investment options. However, I do not expect to need it
- [The Do’s and Don’ts of Investing Today](https://welchgroup.com/the-dos-and-donts-of-investing-today/) - With the generational bear market that began in October of 2007 we saw U.S. stocks, as measured by the S&P 500, drop 57%. The market bottomed out in March 2009 and since that time we have experienced a four-year bull market that brought the U.S. stock market to an all-time high. If you fear that
- [The Best Retirement Strategy](https://welchgroup.com/the-best-retirement-strategy/) - Question: I am a 60 year old retired public employee with a defined benefit pension and a 403-b plan that I plan to begin drawing from in two years. My allocation mix is 57% in an inflation adjusted bond fund, 17% in a US large cap stock fund and 26% in a real estate fund.
- [Spring Cleaning for Your Personal Finances](https://welchgroup.com/spring-cleaning-for-your-personal-finances/) - Springtime is just around the corner and that means it’s almost time for spring cleaning. What I love about spring cleaning is the feeling of accomplishment once it’s done. It’s like you have removed all of the deadwood and are ready for new growth. Here’s how you can carry the concept of spring cleaning over to your
- [Undoing a Roth IRA Conversion](https://welchgroup.com/undoing-a-roth-ira-conversion/) - Question: In 2012, I converted my IRA to a Roth and now realize that I owe approximately $16,000 in taxes on the conversion. This is in addition to the taxes on my wife’s regular earnings. Since I have not filed my 2012 tax return, can I convert back to a traditional IRA to avoid the $16,000 tax
- [New 3.8% Tax on Sale of Personal Residence?](https://welchgroup.com/new-3-8-tax-on-sale-of-personal-residence/) - Question: I have a question about selling my home in 2013 (should I get so lucky!). I do not understand the new 3.8% tax (as part of the Affordable Care Act) on home sales. I am a widow; my annual income is far less than 100,000; I will not realize more than $250,000 over and above what
- [Buy Real Estate With Your IRA?](https://welchgroup.com/buy-real-estate-with-your-ira/) - Question: I recently read about using an IRA to own real estate. I am very interested in taking money in my IRA and buying a rental property. Do you have to have a specific kind of IRA? What are the pros and cons of this strategy? L.B. Answer: It is possible to own rental properties in your IRA and a
- [Cash in Your IRA for Home Improvement?](https://welchgroup.com/cash-in-your-ira-for-home-improvement/) - Question: I plan to do home improvements that will cost $35,000. I have saved $15,000 and while I know taking money from my IRA is generally not a good idea I’d rather do that than get a loan. What are your thoughts? J.R. Answer: Since you are under age 59½ you’ll face both income taxes and a ten percent
- [Is an Annuity a Good Choice for Retirement Money?](https://welchgroup.com/is-an-annuity-a-good-choice-for-retirement-money/) - Question: My mother, 73 years old, has an annuity with an option to convert to a lifetime income. If she continues taking the Required Minimum Distributions (RMDs), eventually all of the principal will be consumed. When is the best point to exercise the option to convert to guaranteed fixed income for life? Answer: First, let’s
- [Convert Your 401k to Roth Under New Law](https://welchgroup.com/convert-your-401k-to-roth-under-new-law/) - Question: Do the changes from the recent tax legislation have any impact on taxes for those with incomes under $450,000 regarding their withdrawals from deferred compensation and 401k plans? D. D. Answer: One item that is new under this tax law is that everyone with money in 401k or similar plans is allowed to
- [Fiscal Cliff Averted- But Is It Enough?](https://welchgroup.com/fiscal-cliff-averted-but-is-it-enough/) - In a made for daytime TV soap opera drama, Congress and President Obama agreed on new legislation that avoided $600 billion in tax hikes on most Americans. This does not mean that higher taxes were avoided. All workers will see smaller paychecks because Congress allowed the 2% payroll tax holiday to expire. For earners making $50,000 per
- [Keeping Your New Year’s Resolutions](https://welchgroup.com/keeping-your-new-years-resolutions/) - How many of you have made a New Year’s resolution only to break it within a few weeks or months? I see quite a few raised hands, including my own. Why do you think it’s so hard to keep these important promises we make to ourselves? My experience is that our resolutions lack the elements necessary for
- [With the Fiscal Cliff Coming, Is My Money Market Safe?](https://welchgroup.com/with-the-fiscal-cliff-coming-is-my-money-market-safe/) - Question: With all the upcoming changes is it safe to keep your money in a savings account? Or should you invest in Gold or some other safer investment? R.K. Answer: I assume you are not referring to the Mayan calendar that some folks think predicts the end of the world on December 21st, but rather the fiscal
- [Understanding IRA Required Minimum Distributions](https://welchgroup.com/understanding-ira-required-minimum-distributions/) - One thing I love about writing this column is that if I make a mistake or create confusion, readers are quick to let me know! I always strive for perfection and typically have one or two other professionals review my column before sending it to our editor but sometimes there are still mistakes…as from last
- [Tax Benefits of Charitable Donations](https://welchgroup.com/tax-benefits-of-charitable-donations/) - Question: I am retired and gross $156,000 per year in income from my retirement account. I net $9,998 after taxes per month. I donate $400 per month to my church. How much of that is deductible and how much does that reduce my tax bill? T.W. Answer: Assuming that you itemize deductions and are married
- [5 Year-End Tax Saving Strategies](https://welchgroup.com/5-year-end-tax-saving-strategies/) - As 2012 quickly comes to a close, now is the time to sit down and consider what you might do to reduce your April 15 tax bill. This year will be a particular challenge because Congress is planning significant changes to the tax laws and we may not know the new rules until after December
- [Don’t Drop that Long-Term Care Policy!](https://welchgroup.com/dont-drop-that-long-term-care-policy/) - Eighty million Baby Boomers are headed for the retirement exits and many will face a significant rise in medical costs during their retirement years. Your choices include self-insuring these potential expenses or hedging your bets by purchasing long-term care insurance. We had one case where both the husband and wife required around-the-clock nursing care at an
- [Black Friday- Winning the Game!](https://welchgroup.com/black-friday-winning-the-game/) - With Thanksgiving fast approaching, we each have so many things to be thankful for including living in the greatest nation in the world. The day after Thanksgiving, Black Friday, marks the official kick-off of the holiday shopping season and with a bit of planning you can get great deals on gifts without starting the New
- [5 Predictions for the New Congress](https://welchgroup.com/5-predictions-for-the-new-congress/) - In the aftermath of the elections, our nation faces a number of unprecedented challenges both immediately and in the near future. Here’s my best guess at how they’ll play out over the next few weeks and months ahead: 1. Fiscal cliff – part 1: Automatic spending cuts. As part of the 2011 debt ceiling compromise, members
- [Advice for College Graduates- Part I](https://welchgroup.com/advice-for-college-graduates-part-i/) - As I reflect back on my college years I mainly remember how much fun it was and then once I entered the ‘real world’ feeling a bit shocked at the reality of it all. There is definitely a feeling of leaving one world and entering another completely different one. I also remember receiving very little
- [Advice for College Graduates- Part II](https://welchgroup.com/advice-for-college-graduates-part-ii/) - Last week, I began a discussion about twelve key ‘wisdoms’ for college graduates who want to thrive as they transition from college life to the business world. If you missed last week’s column, visit the Resource Center at www.WelchGroup.com; click on ‘Links’; then ‘Stewart’s Column’. Avoid bad debt around owning a car. I once had
- [Summer Fun Without Financial Pain](https://welchgroup.com/summer-fun-without-financial-pain/) - Hopefully, you got your summer off to a terrific start over the Memorial Day weekend. Now, you’re probably looking forward to some more long weekends or a real vacation. Of course, you deserve to have fun this summer but don’t throw financial caution to the wind. Here are some tips to help keep your finances
- [“Taxes on Annuities are Complicated” - July 21, 2013](https://welchgroup.com/taxes-on-annuities-are-complicated-july-21-2013/) - Reader Question: I have had an (non-qualified) annuity since 1980. Not needing the income from this annuity, the interest has been added back into the account. At this time the interest far exceeds the original principal. I am retired; however, I do not need this income for daily living expenses at this time. I realize that income
- [American Expatriates Face Financial Hassles](https://welchgroup.com/american-expatriates-face-financial-hassles/) - It is estimated that over six million U.S. citizens live abroad…meaning that it’s likely that you know an American citizen whose primary residence is in a foreign country. Reasons for choosing to live abroad are varied including job opportunity or simply the chance to experience another culture. Packing up and moving to another country is a
- [Long-Term Care Insurance Industry Experiencing Chaos](https://welchgroup.com/long-term-care-insurance-industry-experiencing-chaos/) - Reader Question: My husband and I are 61 years old and I just retired last month. We are interested in the Long-Term Care (LTC) policies that include an insurance death benefit if you don’t use it for LTC. No one in either of our families has used LTC and we are still quite healthy. My
- [A Peek Inside the Mind of the Career Politician](https://welchgroup.com/a-peek-inside-the-mind-of-the-career-politician/) - This past week I was speaking before a group of senior citizens and I asked for a show of hands on who was frustrated by the way our president and congressional representatives were running our country. Virtually all hands shot up. This sentiment appears to be a dominant opinion of Americans from coast to coast. If we are
- [The Money Quiz](https://welchgroup.com/the-money-quiz/) - According to the recently released National Financial Capability Study, Americans are feeling much better about their current personal finances. I’m a ‘glass half full’ kinda guy myself so I’m glad folks are feeling more optimistic about their money. Unfortunately, I’ve noticed that along with this new-found optimism, savings rates are beginning to fall after rising
- [Personal Finances for College Students](https://welchgroup.com/personal-finances-for-college-students/) - As thousands of students head for college, many for the first time, many others for their last year, what, as parents, do we hope they learn? Obviously, we want them to get a good education, one that will allow them to get a good paying job with opportunities for personal and financial growth. That's why the
- [All That Glitters…](https://welchgroup.com/all-that-glitters/) - Gold. For centuries the yellow metal that runs in veins along rock walls has sparked the imagination of men seeking to strike it rich. Even today, investing in gold remains one of the hottest topics of investors worldwide. Gold recently eclipsed $1800 per ounce for the first time as part of its remarkable run over the past few
- [The Roth-Child Strategy](https://welchgroup.com/the-roth-child-strategy/) - How would you like to help your child blaze a path towards becoming a multimillionaire and teach them the value of hard work and the importance of saving for the future all at the same time? Here’s a concept that I call The Roth-Child Strategy… a play on words related to the famous Rothschild family.
- [Survey Results: “I don’t need a will!](https://welchgroup.com/survey-results-i-dont-need-a-will/) - The recently released EZLaw Wills & Estate Planning survey indicated that one-third of parents with minor children didn’t believe they needed a will. Their assumption was that all assets would automatically go to the surviving spouse. Scary! First, these folks seem to miss the possibility that both parents could be killed in a common accident. This is what
- [10 Things to Do if You Lose Your Job](https://welchgroup.com/10-things-to-do-if-you-lose-your-job/) - It’s true that the economy and job market are improving yet the pace of the recovery remains slow. Certain sectors such as manufacturing remain weak and job losses continue. If you lose your job or know someone who recently lost his or her job, here are ten things to do immediately. Decide on health insurance.
- [The Case for Blue Chip Stocks](https://welchgroup.com/the-case-for-blue-chip-stocks/) - The current economy stands at what I call ‘slack tide’…that point at which there is little or no movement. The next major decision out of Washington (or possibly other parts of the globe) will determine whether our economy begins to rise or whether it recedes into a secondary recession. Regardless, if you have money to invest,
- [Do Prenuptial Agreements Work?](https://welchgroup.com/do-prenuptial-agreements-work/) - I was recently brought into a case involving the second marriage for a couple who were in their seventies. They had the foresight to set up a prenuptial agreement that outlined a minimal division of assets at the time of death or if the marriage failed. It appeared the couple had taken the appropriate steps
- [Death and Taxes](https://welchgroup.com/death-and-taxes/) - Reader Question: My dad deeded his house to my sister and me in 2004 with a deed that had a life estate for him until he died. He died last March. We were able to sell his house a few months after his death. Will the basis for the sale be what he paid for
- [Property Tax Exemption for Senior Citizens](https://welchgroup.com/property-tax-exemption-for-senior-citizens/) - Reader Question: In a prior column, you mentioned an exemption from the State of Alabama property tax on your primary home if you are age sixty-five or older. I’m sixty-five and my wife is sixty-one. Since the deed is in both of our names, would we qualify for the exemption? B.M. Answer: Yes. Only one
- [Strategies for Getting that Job](https://welchgroup.com/strategies-for-getting-that-job/) - I recently had a conversation with an old friend who has been out of work for over a year and is desperate to get a job. My first question was, “What are you doing today?” His response was, “Basically nothing.” Imbedded in his response was a basic flaw in his job hunt strategy. If you don’t have
- [Helping Kids Help Themselves](https://welchgroup.com/helping-kids-help-themselves/) - Reader Comment: You recently wrote an article about how to get a State of Alabama income tax credit by donating to charitable foundations that support a better education for low income children who are currently stuck in failing schools. This recommendation should come with one large caveat. I was one of the original people who signed a
- [Couples and Money](https://welchgroup.com/couples-and-money/) - I was counseling a couple in their thirties regarding the management of their money. Specifically, they had a running conflict over how the money was spent. Their case facts were pretty typical of young (and older) couples. In this case they have two children and the husband is the primary earner because they decided that it was
- [Are My Bonds Safe?](https://welchgroup.com/are-my-bonds-safe/) - When people talk about stocks and bonds, many people intuitively associate ‘safety’ with bonds and ‘risky’ with stocks. While it’s certainly true that, in general, stocks are more volatile than bonds, bonds can be pretty risky under certain circumstances. I’ve found that a lot of people also find bonds to be confusing to understand. Let’s start with
- [Should I Move My IRA to My 401-k?](https://welchgroup.com/should-i-move-my-ira-to-my-401-k/) - Reader Question: I have a traditional IRA account with a private investment group. This account was created after my former employer went out of business and I had to put the money somewhere. I consider the current administration fees to be too high. I calculate this to be 1.5% yearly. I am now in
- [Tax Law Changes Drive Need to Review Your Estate Plan](https://welchgroup.com/tax-law-changes-drive-need-to-review-your-estate-plan/) - This week is Estate Planning Week all across the nation and we want everyone to know how important it is to have a properly drawn will and accompanying estate planning documents. Gerard Kassouf, president of the Estate Planning Council of Birmingham, has this to say: "Estate planning is important to every person. Proper planning includes determining
- [Should I Annuitize My Retirement?](https://welchgroup.com/should-i-annuitize-my-retirement/) - Reader question: After 37 years in sales I plan to retire in 6 months at age 63. I will live off of my severance from a previous job for two years until I reach 65 at which time I’ll start Social Security of about $2,500 per month. My husband is age 70 and has a pension & Social
- [Just Say 'YES' to Free Financial Advice](https://welchgroup.com/just-say-yes-to-free-financial-advice/) - In these times of economic chaos, people are not sure where to turn for help in navigating the financial headwinds. Well, help is just around the corner and it’s free! All across the nation, professional financial planners are celebrating Financial Planning Week by offering free advice to anyone seeking answers to their most perplexing questions. In addition,
- [Secret Strategy for Roth IRAs](https://welchgroup.com/secret-strategy-for-roth-iras/) - Reader question: This reader had two questions: 1. Question: When you have to start taking annual amounts from your conventional IRA at age 70 ½, can you put that amount in your Roth IRA? Answer: No later than April 1st of the year following the year you turn age 70 ½, you must begin taking Required Minimum
- [How to Avoid the Costs, Time and Aggravation of Probate](https://welchgroup.com/how-to-avoid-the-costs-time-and-aggravation-of-probate/) - Reader question: I am very anxious to learn if a Living Trust can be used in Alabama. If possible, I’d like to use this strategy for leaving my assets to my two children when I pass on. I have been told it is a way to also avoid probate. Can you help? M.C. Answer: I believe what you are referring
- [Our Tax System and a Bottle of Beer](https://welchgroup.com/our-tax-system-and-a-bottle-of-beer/) - At the forefront of political news today is the congressional debate over raising our $14.3 trillion debt ceiling…the amount of money we owe other creditors such as China and our Social Security System. Republicans want spending cuts with no tax increases while the Democrats, lead by President Obama, insist tax increases on ‘millionaires and billionaires’
- [Debt Ceiling Roulette](https://welchgroup.com/debt-ceiling-roulette/) - Our elected representatives have been playing a dangerous game with our economy, our standing in the world and the financial well-being of every American. Our country’s debt stands at $14.3 trillion which is the equivalent of $129,000 for every taxpayer in America. Our debt has reached its maximum legal limit unless Congress votes to raise the
- [Governor Bentley Offers Taxpayers a Free Lunch](https://welchgroup.com/governor-bentley-offers-taxpayers-a-free-lunch/) - “There’s no such thing as a free lunch”, or so the saying goes. But our Governor along with our state legislators have done just that for taxpayers with the passage of the Alabama Accountability Act of 2013. Here’s the deal: You can receive a State of Alabama income tax credit of up to half of your
- [Three Steps to a Solid Financial Future for Nearlyweds](https://welchgroup.com/three-steps-to-a-solid-financial-future-for-nearlyweds/) - Whether you are a nearlywed or a newlywed, building a solid financial future will be an important step towards building a marriage that will last a lifetime. In my thirty-plus years of working with families on their personal finances, when a marriage fails, money is more often than not a contributor. By setting good habits now, you’ll
- [Are Your Bonds Safe?](https://welchgroup.com/are-your-bonds-safe/) - Two forces are coming together to make folks who own bonds or bond funds wonder just how safe is their money. The first most notable is the $18 billion municipal bond default and bankruptcy by the city of Detroit. The second is the rising interest rates over the last few months that have negatively affected bond
- [Truth or Consequences- The U.S. Deficit](https://welchgroup.com/truth-or-consequences-the-u-s-deficit/) - It could have been mistaken for a weekday game show…men and women running around in a frenzy making last minute decisions acting like children. Unfortunately, it was our congressional representatives trying to hammer out a compromise deal for raising the federal debt ceiling. This past week, President Obama signed a bill that allowed America to
- [Seven Habits of a Healthy Marriage for Newlyweds](https://welchgroup.com/seven-habits-of-a-healthy-marriage-for-newlyweds/) - April is kick-off month for the wedding season…a time when many young folks commit to each other ‘until death do us part’. Well, about half of the time, it’s not death that does the parting, but rather divorce. Why is it that so many marriages fail and is there anything that young couples can do to
- [Best Strategies for Retirement Planning- Part II](https://welchgroup.com/best-strategies-for-retirement-planning-part-ii/) - Last week, I began a discussion of retirement planning strategies. If you missed that column, visit the Resource Center at www.WelchGroup.com; then click on ‘Stewart’s Column’. Here are the remaining strategies: Save more money. If you are a pre-retiree, a detailed retirement analysis will likely suggest that saving more money is needed. Figure out how you are going to
- [Best Strategies for Retirement Planning- Part I](https://welchgroup.com/best-strategies-for-retirement-planning-part-i/) - With interest rates continuing to hold near historical lows since 2008, retirees increasingly find themselves in a struggle to produce enough cash flow to pay their bills. In addition, life has a way of producing financial surprises that force people to dip even further into their savings. Whether you are a pre-retiree (10 years or less away
- [Free Credit Protection for 1 Year](https://welchgroup.com/free-credit-protection-for-1-year/) - Identity theft thieves are proliferating across America and are using ever more sophisticated techniques to hack your personal information. There have been well-publicized thefts of customer information by Target, Neiman Marcus and other high profile retailers. I suspect identity theft will become one of the big financial stories this year. After the Target breach, their fourth quarter profits
- [10 Tips for Traveling Abroad](https://welchgroup.com/10-tips-for-traveling-abroad/) - I was recently visiting with a client who’s heading for a European dream vacation in a couple of weeks. It got me thinking about how to make certain the dream doesn’t turn into a nightmare. Here are my top 10 tips for a great trip overseas: Leave your itinerary and copies of your passport with a
- [Life Insurance’s Nasty Surprise](https://welchgroup.com/life-insurances-nasty-surprise/) - Life insurance is one of the most complicated and confusing financial products in the marketplace and, for the uninformed, can create some nasty surprises under certain circumstances. Life insurance policies fall into two broad categories: ‘term’ life insurance and ‘permanent’ life insurance. Of the two, term insurance is much more easily understood. With term insurance, you typically
- [Preventing Identity Theft When Someone Dies](https://welchgroup.com/preventing-identity-theft-when-someone-dies/) - Reader Question: Your recent article on identity theft was very informative, but in trying to put together end of life info for my spouse (or me) to use in the event of the other's death, I was trying to find the process for notifying the three credit bureaus of a death, so as to prevent
- [Who Killed the American Work Ethic?](https://welchgroup.com/who-killed-the-american-work-ethic/) - A restaurateur friend of mine recently opened a new restaurant in North Shelby County. When I asked him how it was going he was very excited and especially pleased with the friendliness of the customers that frequent his restaurant. His biggest problem? “Stewart, it is nearly impossible to find people who are willing to work,” he told
- [I Overfunded My Roth IRA- Now What?](https://welchgroup.com/i-overfunded-my-roth-ira-now-what/) - Reader Question: Concerning a Roth IRA. Suppose at the start of the year one is unsure how much their earnings would be due to overtime/bonuses. What happens if I contribute the full amount allowed to a Roth IRA and end up exceeding the income limit that allows me to participate? I want to maximize my saving
- [Is Paying Off Your Mortgage a Good Idea?](https://welchgroup.com/is-paying-off-your-mortgage-a-good-idea/) - Mortgage interest rates continue to hang around historical lows with a thirty-year loan under 5% and a 15-year loan under 4%. In addition to low mortgage rates, you receive a deduction for your interest payments from the federal government and, in many cases, the state as well. For example, if you have a 4.5% interest rate
- [myRA – A Good Thing?](https://welchgroup.com/myra-a-good-thing/) - In his State of the Union Address, President Obama introduced a new retirement plan called myRA which is shorthand for ‘my retirement account’. The goal is to encourage middle to low income individuals to get in the habit of saving for retirement. The plan rules are styled similar to the rules for the Roth IRA including no
- [Roth IRA Rules for Retirees](https://welchgroup.com/roth-ira-rules-for-retirees/) - Reader question: How much money can I contribute to my Roth IRA? My W-2 income is zero. My taxable income comes from Required Minimum Distributions from rollover and contributory IRAs (I am over 70.5 years old), interest, dividends, capital gains from investments, and royalties from mineral rights. B.L. Answer: In order to be eligible to contribute to
- [Three Questions](https://welchgroup.com/three-questions/) - Over the past thirty years I’ve had an opportunity to work with hundreds of couples regarding their personal finances. While most of these couples were not financial experts they were wise enough to know they needed professional advice. Research suggests that only a small percentage of people seek professional help regarding mapping out an effective retirement
- [4 Strategies to Protect Yourself from Identity Theft](https://welchgroup.com/4-strategies-to-protect-yourself-from-identity-theft/) - Hackers breached Target’s security system and stole credit information from an estimated 110 million customers. Just this past week, upscale retailer, Neiman Marcus reported that their security systems had been breached and customer credit information was also stolen. I predict that these incidents will turn into a trend and become one of the biggest financial news stories
- [Best Financial Tips for 2014](https://welchgroup.com/best-financial-tips-for-2014/) - January is a great time to re-set your financial compass so you are headed towards success for the coming year. Here are the favorite tips from the advisors within my companies: Secure this tax credit…while it lasts. Under the Alabama Accountability Act, our state has set aside $25 million in state income tax credits to be used
- [Best Investment Strategy for 2014](https://welchgroup.com/best-investment-strategy-for-2014/) - It’s the start of a new year. What will the future bring and how can you best take advantage of the opportunities it holds? This is the time of year when there are lots of prognostications about what the stock market and economy is going to do over the next year. First, let me be clear: no one
- [The Number One Life Insurance Mistake](https://welchgroup.com/the-number-one-life-insurance-mistake/) - Twenty-five years ago a young lady came into my office in tears and on the verge of a nervous breakdown. Her very successful salesman husband had recently passed away of a heart attack and while he left behind a $1 million life insurance policy, he also left her in financial peril because he made the
- [I Can Predict Your Financial Future in 2014!](https://welchgroup.com/i-can-predict-your-financial-future-in-2014/) - After thirty-something years working with individuals and families on their personal finances, I’ve developed the uncanny ability to predict their financial futures, often after spending just a few minutes with them. You see, financial success, or lack thereof, comes down to a mindset…a decision to succeed followed by an implemented plan of action. Today I’m going
- [Reader Horror Story (Almost)](https://welchgroup.com/reader-horror-story-almost/) - Many years ago we purchased two $100,000 fixed annuities from Vanguard. One increased with the CPI and the other increased its payouts by 5% per year. We were in good health then, and are now in our eighties and they have proved to be good supplements to our income. However, during the 2008 disaster, we learned that
- [Using Kids for Tax Benefits](https://welchgroup.com/using-kids-for-tax-benefits/) - Reader Question: Could you speak to the tax consequences of a minor's earnings? My two-year-old son recently inherited $5,000 for which I opened an investment account. I earn a six-figure income. Will any dividends and other earnings that he accrues be taxed in my bracket, or in his? If the latter, this seems like a perfectly
- [Mid-Year Tax Planning Strategies](https://welchgroup.com/mid-year-tax-planning-strategies/) - June marks the mid-point in the year and is a good time to pause and do some income tax planning for 2011. Step one is to decide what to do with your income tax refund if you are one of the more than fifty-seven million taxpayers receiving a refund. The average tax refund this year is
- [Don’t Be a Victim of Fraud!](https://welchgroup.com/dont-be-a-victim-of-fraud/) - One of my associates recently told me of two instances where her family had been a victim of fraud. This surprised me because she and her husband are very astute and seemed to me unlikely to fall for any scam. Here’s her story: In her first instance, her husband sold some high-end electronic to a buyer
- [The Perfect Gift for a Grandchild](https://welchgroup.com/the-perfect-gift-for-a-grandchild/) - Reader question: My husband and I will be taking our Required Minimum Distribution (RMD) from our IRAs for the 1st time this year and were planning to set up 529 accounts for our 6 grandchildren. So long as the amounts do not go over the gift limit for each child, is there any other thing
- [Readers Asks Where to Invest Now?](https://welchgroup.com/readers-asks-where-to-invest-now/) - Reader Question: I am 67 and retired in May 2012 with $20,000 in stock mutual funds. When things tanked in 2008-09, I lost 50%-60% and it stayed there two years plus. I since moved it to an interest-only account. Now, my question is: Should I do something else, rather than leave it in the interest only account? A.F. Answer: The
- [Where to Invest Now](https://welchgroup.com/where-to-invest-now/) - Last week I offered my prognosis of things to come in 2011. This week I’ll discuss where to invest now to take advantage of opportunities or avoid pitfalls in the year ahead. Stocks. The stars appear to be aligned for double-digit returns in the stock market over the next twelve months. Retirees seeking cash flow and more
- [First-Year College Students Financial Checklist - Part I](https://welchgroup.com/first-year-college-students-financial-checklist-part-i-2/) - With summer fast coming to a close, many once high school grads are about to declare “independence day” as first-year college students. Along with increased freedom comes increased responsibility. You can offer a helping hand by sharing these 10 top financial tips with your favorite college student: Whether you are paying your way with a
- [First-Year College Students Financial Checklist - Part II](https://welchgroup.com/first-year-college-students-financial-checklist-part-ii-2/) - Last week, I began a discussion about the top 10 tips for college students. If you’d like to review that column, go to the Resource Center at www.welchgroup.com then click on ‘Stewart’s Column’. Here are the remaining 5 tips: You’ll likely get bombarded with credit card offers in the mail. Companies know that the students
- [New Opportunities Under the New Estate Tax Law- Part II](https://welchgroup.com/new-opportunities-under-the-new-estate-tax-law-part-ii/) - Last week I began a discussion of the new estate tax law and how some of the provisions my affect you. • Make Gifts During Your Lifetime. Last week I discussed that at death, you can leave up to $5 million in trust or outright to heirs free of estate taxes. You don’t have to
- [Will Your 401-k Be Enough?](https://welchgroup.com/will-your-401-k-be-enough/) - Research that was spearheaded by the Federal Reserve suggests that those pre-retirees, ages 60-62 are significantly unprepared for retirement. Here are some of the basic facts: The median income for couples in this group is $87,700 with a median 401-k account of $149,400. If we assume a retirement income need of 85% of pre-retirement income,
- [Get Out of Debt FAST!](https://welchgroup.com/get-out-of-debt-fast/) - The economy is improving; people are feeling better about their finances; and as a result consumer debt is again on the rise. One of the greatest inhibitors to creating financial success and financial freedom is too much debt. Developing a plan to get out of debt is overwhelming for a lot of people so I’ve
- [Retirement Savings - Rules of Engagement](https://welchgroup.com/retirement-savings-rules-of-engagement/) - We are long overdue for a reality-check related to retirement savings. Research shows that the average savings for a 50-year-old is $43,797. Imagine trying to retire on that amount of money! As I speak with people, most know that they are under-saving for retirement but many don’t know where to start, how to invest their
- [Umbrella Liability Insurance- How Much is Enough?](https://welchgroup.com/umbrella-liability-insurance-how-much-is-enough/) - It was a blue-sky Colorado day as my clients were driving to the airport after a week of snow skiing when they hit a patch of ice causing their car to veer into the oncoming lane. Fortunately my clients and their children had buckled their seatbelts…unfortunately the two ladies in the oncoming car had not.
- [6 Best Tax Moves Right Now](https://welchgroup.com/6-best-tax-moves-right-now/) - Most people wait until the April 15th tax-filing deadline is near and then rush around to gather their tax records and file their return which is both chaotic and stressful. Why not take a minute now to do a little planning and make next year’s tax filing season so much easier? Here are your six
- [Advice for College Students- 5 Pathways to Millionaire Status](https://welchgroup.com/advice-for-college-students-5-pathways-to-millionaire-status/) - While some young adults enter college knowing their pathway- they know they want to be a veterinarian, an engineer, a doctor, a lawyer, an accountant; most just simply show up and start taking classes without much thought of the future. I want to encourage all students to take a moment and consider what lifestyle you’d
- [There’s a New Scam in Town!](https://welchgroup.com/theres-a-new-scam-in-town/) - Last week I received a call from a client who was panicked after receiving a call from an IRS agent saying he owed taxes and must pay immediately or face having his bank account frozen or potentially have his home seized. When my client didn’t immediately agree to pay the taxes due, the agent demanded
- [“The Roth-Child Strategy” - June 8, 2014](https://welchgroup.com/the-roth-child-strategy-june-8-2014/)
- [The Secret to Success is…(drum roll please…)](https://welchgroup.com/the-secret-to-success-isdrum-roll-please/) - The secret to success can be boiled down to a single word…CONSISTENCY. You see, each of us pretty well knows what steps need to be taken in order to achieve success for any particular goal. Let’s call these steps our ‘Action Plan’. And where we are uncertain of what our action plan should be, that
- [Protect Your Child from a Bad Relationship](https://welchgroup.com/protect-your-child-from-a-bad-relationship/) - Reader Question: My husband and I have a combined estate of about $2 million and one child. We are concerned with the guy she is dating and would like some advice on how to keep him from getting any of her inheritance upon our death since she is our only heir. Any advice would be appreciated. A.M.
- [Reducing IRS Audit Risks](https://welchgroup.com/reducing-irs-audit-risks/) - The good news is that, because of limited resources, the Internal Revenue Service audits only about 1% of the tax returns filed each year. The bad news is that they use a very sophisticated computer system to ‘red flag’ returns that have the best odds of containing errors. Here is a list of the top targets
- [Your Kid…A Money Guru?](https://welchgroup.com/your-kida-money-guru/) - Most kids arrive at the ‘real world’ with little or no financial training. Think about it. The schools or college rarely teach any courses about how to manage personal finances and many parents are living a financial tightrope struggling to pay their bills throughout the year. It’s no wonder that generation after generation of kids struggle with money
- [Good Debt-Bad Debt](https://welchgroup.com/good-debt-bad-debt/) - Recently, Lawrence, a reader from Canada, asked about the advisability of borrowing money to buy an electric car. Lawrence read one of my books where I explain the debt rule: Don’t borrow money to buy a depreciating asset. However he reasoned that the thousands that he would save on gasoline would make it worthwhile. This got me
- [Credit Monitoring v. Security Freeze- Which is Best?](https://welchgroup.com/credit-monitoring-v-security-freeze-which-is-best/) - Reader Question: I read your article about signing up for Target's credit monitoring program. The fact that you have to give all of your personal information to them, online no less, where it can be hacked, keeps me from signing up for this or any credit monitoring program! I've authorized a credit freeze with the three
- [Reverse Mortgages for Retirement Planning](https://welchgroup.com/reverse-mortgages-for-retirement-planning/) - A Home Equity Conversion Mortgage (HECM) commonly referred to as a reverse mortgage, is essentially the opposite of a traditional mortgage. With a traditional mortgage, you borrow money from a lender and you repay the loan in monthly installments until it is repaid (including interest). With a reverse mortgage, you’re taking a loan on your home and,
- [Creditor Protection for Education Plans](https://welchgroup.com/creditor-protection-for-education-plans/) - Over the past two weeks, I have reviewed key elements of the new bankruptcy law signed by President Bush last month. In the first article, I discussed how the new law will make it very difficult to qualify for Chapter 7 bankruptcy and thereby wipe out your debts and give you a fresh start. Instead,
- [How Rising Interest Rates will affect Your Pocketbook](https://welchgroup.com/how-rising-interest-rates-will-affect-your-pocketbook/) - By summer of last year interest rates had fallen to 45-year lows, sparking one of the greatest booms in real estate in recent history. In June of 2004, the Federal Reserve, led by Chairman Alan Greenspan, reversed this trend by raising interest rates for the first time in several years. Since then, the Federal
- [Market Outlook - Part II](https://welchgroup.com/market-outlook-part-ii/) - In last week's column, I discussed the impact of the Republican domination of the 2004 elections would have on the economy and bond markets for 2005. For this week, let's look at your best options for stock market investing for the coming year. In last year's market forecast, I highlighted three areas: dividend
- [Frugal Tips for the Summer](https://welchgroup.com/frugal-tips-for-the-summer/) - As a financial advisor, I tend to focus on the big picture. I want our clients to have enough funds to send their children to college, to save for retirement, to buy a home, to have money to cover unexpected bills and generally to have peace of mind about their finances. Every once in
- [Creditor Protection For IRA Accounts](https://welchgroup.com/creditor-protection-for-ira-accounts/) - Last week, I discussed the new bankruptcy law signed by President Bush and how the law would make it much more difficult for people to wipe out their debts by filing Chapter 7 bankruptcy. Under the new regulations, in most cases, they will be forced to go on a repayment plan (Chapter 13 bankruptcy). An
- [New Law Tougher on Debtors](https://welchgroup.com/new-law-tougher-on-debtors/) - Erasing debts by filing for bankruptcy is about to get much tougher. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was signed by the President this week. This new law will sharply reduce the number of people eligible to relinquish their debts through bankruptcy. Currently, individuals file for bankruptcy under Chapter
- [Avoid Penalties on Your IRA](https://welchgroup.com/avoid-penalties-on-your-ira/) - Last week, I wrote about investing ‘into' an IRA. One of our California clients called with questions about taking money ‘out of' an IRA early. This question is a good one because most people aren't sure what the rules are. I will explain them—one at a time--because the rules are slightly different for a Traditional
- [Letter of Love](https://welchgroup.com/letter-of-love/) - Last week, I discussed the importance of having a Living Will which the Terri Schiavo case had brought to the public's attention. If you missed last week's column and would like to download a Living Will document that you can complete and sign, go to the Resource Center at www.welchgroup.com and click on 'Healthcare Directive'.
- [Decisions of Life and Death](https://welchgroup.com/decisions-of-life-and-death/) - In February of 1990, Terri Schiavo collapsed in her home and was rushed to the hospital. This was the beginning of what has become a very public story that has brought world attention and inspired the Vatican, the Governor of Florida and the President of the United States to weigh in on the heated debate.
- [Buy Bonds Now or Wait?](https://welchgroup.com/buy-bonds-now-or-wait/) - Interest rates are clearly on the rise. The Federal Reserve lead by Alan Greenspan has been raising short-term interest rates. Many investors continue to have their bond money parked in money market accounts hoping to wait and invest when interest rates peak. But will it really pay to wait? There is a good calculator you
- [How do you Spell STUPID?](https://welchgroup.com/how-do-you-spell-stupid/) - According to the New Webster's Dictionary, the definition of stupid is: Stupid: “Someone who is age 59 ½ or older, and who is eligible but not contributing to their 401(k) plan where the employer offers a matching contribution.” Well, this isn't actually what Webster's says, but it could be one definition. Most employer 401(k) plans
- [Tips for Selling Your Home](https://welchgroup.com/tips-for-selling-your-home/) - Last week, I discussed the most effective way to find and work with a top realtor when selling your home. An experienced realtor really can make selling your home easier and help you get your highest price. Today, I'm focusing on some simple and inexpensive things you can do to help your home show
- [Realtors - How to Work with the Best](https://welchgroup.com/realtors-how-to-work-with-the-best/) - If you are considering selling your home, one of the most important decisions you will make is which realtor to list your home. A good realtor is worth his or her weight in gold because of their experience, sales ability, and contacts with prospects and other agents. The following checklist will give you the
- [Inflation Proof Your Portfolio - Part II](https://welchgroup.com/inflation-proof-your-portfolio-part-ii/) - Last week, I discussed how to inflation-proof the fixed income portion of your investment portfolio. If you missed this column, go to www.welchgroup.com; then go to ‘Stewart's Weekly Column' under the “In the News' heading. This week I want to continue this discussion on inflation-proofing your portfolio by focusing on the equity side of
- [Inflation Proofing Your Portfolio - Part I Fixed Income](https://welchgroup.com/inflation-proofing-your-portfolio-part-i-fixed-income/) - Looking into the crystal ball of the next twelve to thirty-six months, many prognosticators are suggesting that inflation will rear its ugly head after more than a decade of hibernation. In fact, early indications are that inflation is beginning to heat up. The February 7 issue of Forbes Magazine states that the core consumer
- [Selling Your Home?  Be Careful!](https://welchgroup.com/selling-your-home-be-careful/) - Low mortgage interest rates over the past several years have spurred home sales nationwide to record levels. The second dynamic is rising home prices. Owning your own home has been one of the best investments over the past five years. Most people selling their home today are realizing large profits. If you sell your
- [Social Security Privatization-Boon or Bust?](https://welchgroup.com/social-security-privatization-boon-or-bust/) - One of President Bush's most significant initiatives for his remaining administration is to create private investment accounts for a portion of your Social Security contributions (withholdings). The immediate problem with this concept is that the money workers would divert to these private accounts is currently being used to pay current Social Security retirees. In
- [Plan for Success in 2005](https://welchgroup.com/plan-for-success-in-2005/) - With 2004 behind us, most people are taking a breather as they decide how to handle the holiday bills that are just now arriving in the mail. While it's easy not to plan ahead for this year, planning now can produce some big benefits. Here's what you should consider: · Change your retirement
- [Reverse Mortgages Just Got Better - February 27, 2011](https://welchgroup.com/reverse-mortgages-just-got-better-february-27-2011/) - The economic recession that occurred in the wake of the 2008 financial crisis has hit retirees hard. To prevent a global financial collapse our government slashed interest rates. As a result, interest rates being paid on typical retiree investments such as CDs, bonds and money market accounts are at an all-time low. Retirees who depend
- [Good News-Bad News Under New Credit Card Law](https://welchgroup.com/good-news-bad-news-under-new-credit-card-law/) - It’s been just over a year since the new rules under the Credit Card Act of 2009 became effective. What has changed and what does it mean to you? The new law creates more clarity for consumers and ends many of the deceptive practices of the past. Here is a summary of the most important
- [New Opportunities Under the New Estate Tax Law](https://welchgroup.com/new-opportunities-under-the-new-estate-tax-law/) - It’s hard to imagine that Abraham Lincoln, Michael Jackson and Pablo Picasso have anything in common but it turns out that they do…each of them died without having a properly executed last will and testament. One was an attorney and president of the United States, one was a musician whose estate has produced over $200
- [The Million Dollar Roth Child](https://welchgroup.com/the-million-dollar-roth-child/) - With a Roth IRA, you do not receive an income tax deduction for contributions, but your money grows tax deferred and qualified withdrawals are income tax free…forever! This creates an incredible opportunity to amass a small fortune for children. For example if a 10-year old made annual contributions of $1,000 to a Roth IRA until his age
- [Preparing for the Unexpected](https://welchgroup.com/preparing-for-the-unexpected/) - All of us know of someone who has become incapacitated and unable to tend to their financial affairs. However, most people don’t realize that without proper advance planning, this situation can quickly turn into a nightmare. For example, assume that you are married and your husband is left mentally incapacitated as a result of a stroke. You own
- [Searching for Income](https://welchgroup.com/searching-for-income/) - In response to the economic crisis that began in 2007, the Federal Reserve has purposefully driven interest rates down in order to stimulate our economy. This artificially low interest rate environment has wreaked havoc on retirees who are dependant on interest from their investments to pay their bills and run their retirement lifestyle. As a result, retirees
- [Retirement for the Ages](https://welchgroup.com/retirement-for-the-ages/) - In preparing for a speech for a group of retirees, I ran across some interesting research. American’s, on average, owe $53,000 and have only $1,500 in savings. A recent US Today article cited research indicating that almost 50% of Americans age 55 and older have never calculated how much money they need for retirement! Wake up folks! If you
- [Retirement for the Ages- Part II](https://welchgroup.com/retirement-for-the-ages-part-ii/) - Last week, I began a discussion about retirement planning for those of you in your twenties, thirties, forties and fifties. This week I’ll address the special challenges of those in their 60’s for whom retirement is just around the corner. If you fall into this category, it is vital that you clearly understand where you are now
- [Retirement for the Ages- Part III](https://welchgroup.com/retirement-for-the-ages-part-iii/) - Last week I began a discussion about retirement strategies for those of you who are in your sixties and can see the light at the end of the retirement tunnel. Some of you may have discovered that the light is actually an oncoming train! I began with the importance of figuring out just how much money you
- [Beating the Tax Man- Real Estate Strategies Part I](https://welchgroup.com/beating-the-tax-man-real-estate-strategies-part-i/) - By far the hottest sector over the past several years is real estate. Whether it's your primary residence, beachfront property or traditional investment real estate, we're seeing increasing values and lots of buying and selling activity. This activity has the potential to create large capital gains taxes…a sure way to take some of the
- [The $50,000 Free Lunch](https://welchgroup.com/the-50000-free-lunch/) - You've often heard the old adage, "There's no free lunch". Well, guess what-- I found one. Mass Mutual Financial Group is offering a free $50,000 10-year term life policy to qualifying individuals. Founded more than 150 years ago, Mass Mutual has developed into one of the nation's top life insurance companies. Today, it is a
- [Leasing a Car- How to Get a Great Deal](https://welchgroup.com/leasing-a-car-how-to-get-a-great-deal/) - Some people prefer to lease rather than own a car for a number of reasons including smaller up-front costs, smaller monthly payments and avoiding the hassles associated with selling a used car. In a lease deal, the dealer sells your car to a leasing company who, in turn, leases it back to you. Your payments
- [Convertible Bonds - Add Spice to Your Portfolio](https://welchgroup.com/convertible-bonds-add-spice-to-your-portfolio/) - Convertible bonds have been the focus of numerous articles and commentary from the financial press over the past several months. What are they? Are they useful investments for the individual investor? A convertible bond is a bond issued by a publicly traded corporation that gives the bondholder the option to convert the bond to a
- [Estate Tax Lotto](https://welchgroup.com/estate-tax-lotto/) - In 2001, President Bush signed a law that will eliminate all estate taxes in 2010. Unfortunately, the law contains a sunset provision that would repeal the law in 2011 causing estate taxes to be due on estates that exceed $1 million. Currently if your estate, including life insurance that you own, was less than $1.5
- [The Problem with Hedge Funds](https://welchgroup.com/the-problem-with-hedge-funds/) - Last year the stock market languished in negative territory for the first 10 months before breaking out. So far this year, the stock market again appears to be stalled with many Wall Street analysts prognosticating modest single digit returns for 2005. What's an investor to do? Some investors are turning to hedge funds as a
- [Long Term Care Insurance - Part II](https://welchgroup.com/long-term-care-insurance-part-ii/) - Last week, I discussed the rising cost of long term care and the importance of having a plan in place. This week, I will explain what options you should look for when purchasing a policy and which are the best long term care insurers. Once you've decided to purchase a policy, the first step you
- [Long Term Care Insurance - Part I](https://welchgroup.com/long-term-care-insurance-part-i/) - Over the past few years, you've undoubtedly seen numerous advertisements for Long Term Care Insurance, but you probably don't understand these policies and how they can help you. Also, there are many misconceptions about which benefits health insurance, Medicare and Medicaid provide when long term care is needed. Basically, long term care is medical and
- [Consolidate Student Loans and Save Big Now](https://welchgroup.com/consolidate-student-loans-and-save-big-now/) - Do you or someone you know have student loans? If so, you have what may be a once in a lifetime opportunity to consolidate these loans into a low interest rate while potentially extending the term over which the loans must be repaid. But you must hurry. On July 1st, rates will go up by
- [Magnify Your Wealth While Reducing Taxes](https://welchgroup.com/magnify-your-wealth-while-reducing-taxes/) - With Individual Retirement Accounts (“IRAs”) among the largest investment assets left to heirs, deciding what to do with an inherited IRA is one of the most important decisions facing many account owners. Inheriting a traditional IRA provides a unique opportunity to continue tax-deferred investing. Over time, that tax advantage can dramatically increase the value
- [Advice for the June Bride - Part I](https://welchgroup.com/advice-for-the-june-bride-part-i/) - June marks the official kick-off for the wedding season when many young couples will begin a new life together. Newlyweds face numerous changes, particularly during their first year of marriage…mostly good changes but some challenging ones as well. One of the more difficult changes often relates to the best way to mesh
- [Money Basics for High School Graduates and Their Parents](https://welchgroup.com/money-basics-for-high-school-graduates-and-their-parents/) - While many teens are adept at using the ATM machine, few are prepared to take control of their personal finances once they are ‘on their on' at college. Particularly if your son or daughter is attending school far from home, it's important that he or she be able to handle financial basics without your
- [Invest Like a Millionaire-Part III 8/5/07](https://welchgroup.com/invest-like-a-millionaire-part-iii-8-5-07/) - Invest Like a Millionaire-Part III 8/5/07 Stewart H. Welch III, CFP, AEP Founder, The Welch Group, LLC 8/5/07 Invest Like a Millionaire-Part III 8/5/07 “Investing Like a Millionaire- Part III” 8/5/07 More self-made multimillionaires use business ownership as their road to riches than any other strategy. Investment real estate uses the power of financial

## Pages

- [Home](https://welchgroup.com/) - As Financial Advisors in Birmingham, AL, we specialize in Retirement Planning and Investment Management. Schedule a free review today!
- [Home](https://welchgroup.com/) - As Financial Advisors in Birmingham, AL, we specialize in Retirement Planning and Investment Management. Schedule a free review today!
- [Who We Are](https://welchgroup.com/our-story/) - The Welch Group was one of the early pioneers to offer fee-only investment management and financial planning. Learn more about our services & our story here.
- [Wealth Management Services](https://welchgroup.com/wealth-management-services/) - Wealth Management Services Focused Guidance.Lasting Partnership.Room to Grow. Strategies that adapt as your life unfolds. Our wealth management services are designed for individuals and families who value expert guidance, intentional strategy, and a relationship that grows with them over time. What sets our wealth management services apart? Thoughtful Planning, Tailored to You We start by
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- [SquareOne: Financial Foundations](https://welchgroup.com/squareone-financial-foundations/) - We have compiled our advice on financial planning, from social security to stretching your IRA & more. Find everything you need to know & get in touch here.
- [Join Our Team](https://welchgroup.com/join-our-team/) - Join Our Team Take your first step into a career marked by meaningful work, deep relationships, and a shared commitment to serving others well. CAREERS ATThe Welch Group When you join The Welch Group, you step into a culture built on trust, excellence, and shared purpose. Fresh perspectives are welcomed, your growth is a priority,
- [Open Roles & Opportunities](https://welchgroup.com/open-roles-opportunities/) - Thank you for your interest in The Welch Group. Please complete this form so wecan learn a little more about you. If your background and interests appear to align withour current or future needs, a member of our team may reach out to request yourresume or schedule an introductory conversation. Email This field is for
- [Family Office Services](https://welchgroup.com/family-office-services/) - Family Office Services Refined Solutions.Thoughtful Execution.Personal Care. Tailored support for every facet of your financial life, and beyond. Our approach to family office services is specifically designed to empower individuals and families with complex financial lives and evolving priorities. Whether you’re navigating a pivotal business transition, planning across generations, or looking to entrust more of
- [All Resources](https://welchgroup.com/all-resources/) - All Resources Recent Insights Our team is passionate about educating individuals and families across Alabama and beyond, empowering them to take control of their finances. Explore articles written by our advisors for more wealth management tips and information. Navigating the Stock Market: 2026 Mid-Year Review July 2, 2026 Read More Caring for Aging Loved Ones:
- [Newsletter Signup Confirmation](https://welchgroup.com/newsletter-signup/) - Thank you for signing up for our newsletter. View more insights
- [Who We Serve](https://welchgroup.com/who-we-serve/) - Who We Serve Whether you’re building wealth, navigating transition, or preserving a legacy, we design strategies that help bring clarity and confidence to each step of your financial journey. We partner with clients through every stage of life. Young Professionals You’re in a fast-moving stage of life and career, earning more, carrying greater responsibilities, and
- [Helpful Links](https://welchgroup.com/helpful-links/) - Helpful Links Explore our curated library of links that spans a wide range of financial topics. Included are personal guides and other resources that cover various elements of financial planning: investment tools, wills, taxes, student resources, healthcare, and more. You can use the adjacent search and category filters to narrow down the options and help
- [The Welch Group Foundation](https://welchgroup.com/the-welch-group-foundation/) - The Welch Group Foundation Enriching Birmingham and Greater Alabama We believe one person can spark meaningful change. As part of our foundation, our team actively engages in serving and supporting local organizations, embodying our commitment to make a positive impact on our community. The organizations we support strengthen our community by investing deeply in its
- [Contact Us](https://welchgroup.com/contact-us/) - The Welch Group is here to help you plan for your financial future through investment strategies and financial planning. Contact us to get started today!
- [Disclosures](https://welchgroup.com/disclosures/) - IMPORTANT DISCLOSURE INFORMATION The Welch Group, LLC (“Company”) is an SEC registered investment adviser located in Birmingham, Alabama. The Company may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. The Company’s web site is limited to the dissemination of general information pertaining to its advisory services, together
- [Thank You](https://welchgroup.com/thank-you/) - Thank you for contacting us! We will be in touch with you shortly.
- [Meet Our Team](https://welchgroup.com/our-team/) - Our team contains caring and committed specialists for every aspect of your financial life, so we are able to serve you with expert advice and concierge care.
- [Our Process](https://welchgroup.com/our-process/) - Our financial planning process is intentional and detailed because we want to make sure we are the right fit for your needs.
- [Insights](https://welchgroup.com/insights/) - We have compiled our advice on financial planning, from social security to stretching your IRA & more. Find everything you need to know & get in touch here.
- [PRIVACY NOTICE](https://welchgroup.com/privacy-notice/) - The Welch Group, LLC (“Welch”) maintains physical, electronic, and procedural safeguards that comply with federal standards to protect its clients’ nonpublic personal information (“information”). Through this policy and its underlying procedures, Welch attempts to secure the confidentiality of customer records and information and protect against anticipated threats or hazards to the security or integrity of

## Publications

- [J.K. Lasser’s New Rules for Estate and Tax Planning (7th Edition)](https://welchgroup.com/publication/j-k-lassers-new-rules-for-estate-and-tax-planning/) - Written by Stewart H. Welch III, 2026
- [10 Minute Guide to Personal Finance for Newlyweds](https://welchgroup.com/publication/10-minute-guide-to-personal-finance-for-newlyweds/) - Written by Stewart H. Welch III, 1996
- [The Idiot’s Guide to Getting Rich (3rd Edition)](https://welchgroup.com/publication/the-idiots-guide-to-getting-rich-3rd-edition/) - Written by Stewart H. Welch III and Larry Waschka, 2006
- [100 TIPS for Creating a Champagne Retirement on a Shoestring Budget](https://welchgroup.com/publication/100-tips-for-creating-a-champagne-retirement-on-a-shoestring-budget/) - Written By Stewart H. Welch III, 2017
- [THINK Like a Self-Made Millionaire: 10 Secrets to Success (Get Rich on Purpose®)](https://welchgroup.com/publication/think-like-a-self-made-millionaire-10-secrets-to-success-get-rich-on-purpose/) - Written by Stewart H. Welch III, 2016

## Team Members

- [Keri Fish](https://welchgroup.com/our-team/keri-fish/) - Keri Fish has spent more than 25 years building a career across many areas of financial services, including marketing, regulatory compliance, and operations management. Keri joined The Welch Group as an Investment Operations Specialist in 2024 and now serves as the firm’s Head Trader. Her current role draws on both her depth of industry experience
- [Logan Frost](https://welchgroup.com/our-team/logan-frost/) - Logan Frost started his career in financial planning and wealth management at The Welch Group in 2024, where he currently serves as an Associate Advisor. In this role, Logan works each day to form relationships with clients and support the advisory team. He has earned both his MBA and CFP® certification, giving him an educational
- [Betsy Glenn](https://welchgroup.com/our-team/betsy-glenn/) - Betsy Glenn joined the Welch Group as an Associate Advisor in 2025 after first getting to know the team through her internship during undergrad. Betsy Glenn joined The Welch Group team as an intern in 2024. During her internship, she experienced the firm’s culture, learned foundational skills for financial advising, and observed how the advising
- [Jay McGowan](https://welchgroup.com/our-team/jay-mcgowan/) - As a Member and Senior Advisor, Jay McGowan focuses on integrating thoughtful analysis with clear, empathetic communication throughout the financial planning process. For Jay, the most meaningful moments in his role as a financial advisor occur when he witnesses the relief clients feel after he has successfully addressed or resolved their concerns. He finds that
- [Foster Hyde](https://welchgroup.com/our-team/foster-hyde/) - Foster Hyde joined The Welch Group in 2011 as an Associate Advisor & now serves as a Senior Advisor. He has also worked in forensic accounting & valuation.
- [John Beatty](https://welchgroup.com/our-team/john-beatty/) - John Beatty’s career has been defined by his desire to care for others and help them grow. At The Welch Group, he brings that purpose to his dual role as Talent Development Manager and Advisor. He helps provide support and clarity to individuals and families as they face complicated financial matters, while also investing in
- [Angel Webb](https://welchgroup.com/our-team/angel-webb/) - As a Client Service Administrator at The Welch Group, Angel Webb supports the advising team and their clients by managing essential operational details that help facilitate strong client relationships. She coordinates client-directed payments and distributions and assists with various day-to-day service needs. Angel approaches each responsibility with care, organization, and close attention to detail, driven
- [Brent Gillis](https://welchgroup.com/our-team/brent-gillis/) - Brent Gillis joined The Welch Group in 2018 as the firm’s Special Projects Manager. Learn about him and his experience here.
- [Beth Moody](https://welchgroup.com/our-team/beth-moody/) - Beth Moody joined us in 2012 and now serves as a Senior Advisor. Her experience includes investments, wealth management & more in Birmingham and Atlanta.
- [Greg Weyandt](https://welchgroup.com/our-team/greg-weyandt/) - Greg Weyandt, MPA & CPA, joined The Welch Group in 2001 and is the Managing Member and Chief Compliance Officer. He also sits on the Investment Committee.
- [Michael Wagner](https://welchgroup.com/our-team/michael-wagner/) - Michael Wagner is a Senior Advisor and serves as the Director of Business Development. He has nearly 20 years of business experience in accounting and finance.
- [Kimberly Reynolds](https://welchgroup.com/our-team/kimberly-reynolds/) - Kimberly is a Member and Senior Advisor at The Welch Group and also serves as the Director of Financial Planning. Learn more about her and her experience here.
- [Stewart H. Welch III](https://welchgroup.com/our-team/stewart-welch/) - Stewart Welch III founded The Welch Group in 1984 on the foundational principle of fiduciary responsibility in all client interactions. Learn more here.
- [Caroline Quina](https://welchgroup.com/our-team/caroline-quina/) - Caroline Quina joined The Welch Group in 2025 and currently serves as the firm’s Documents Manager. In this role, she supports the advising team by coordinating documents and handling administrative tasks with care and consistency. Her task-driven nature and passion for organization make this position a natural fit for her. Before joining the firm, Caroline
- [Andrew Myers](https://welchgroup.com/our-team/andrew-myers/) - Andrew Myers is an Associate Advisor who began with the firm as an intern in 2025. During his internship, Andrew gained valuable insights into the technical aspects of financial planning as well as the personal care necessary for serving clients. He continues to expand on that knowledge as he works toward achieving his CERTIFIED FINANCIAL
- [Hansen McCown](https://welchgroup.com/our-team/hansen-mccown/) - Hansen McCown is an Associate Advisor at The Welch Group, where he supports the advisory team in analyzing clients' financial situations and developing personalized plans to help them achieve their goals. However, what Hansen is most grateful for about his role with the firm is the opportunity to help people every day. Before joining The
- [Justin Davenport](https://welchgroup.com/our-team/justin-davenport/) - Justin joined us in 2019 & serves as an Advisor. Prior to joining the firm, Justin worked as a tax accountant for a public accounting firm in Birmingham.
- [Matt Savela](https://welchgroup.com/our-team/matt-savela/) - Matt Savela, CPA & CFP, joined The Welch Group in 2018 and serves as an Advisor. Learn more about Matt, his experience & his community involvement here.
- [Hugh Smith](https://welchgroup.com/our-team/hugh-smith/) - Hugh Smith brings nearly 30 years of experience to The Welch Group. He serves as Chief Investment Officer & Chairman of the Investment Committee.
- [Marshall Clay](https://welchgroup.com/our-team/marshall-clay/) - Marshall Clay joined The Welch Group in 2012 as an Associate Advisor and is now a Member and Senior Advisor. Learn more about him and his experience here.
- [Lauren Wright](https://welchgroup.com/our-team/lauren-wright/) - Lauren is responsible for greeting clients, maintaining the customer database, & providing administrative support. Learn more about her & her experience here.
- [Samantha Pittenger](https://welchgroup.com/our-team/samantha-pittenger/) - Samantha Pittenger began her career at The Welch Group after graduating from college in 2024. Her first role as Documents Manager gave her an early introduction to the firm’s processes and the people it serves. That foundation proved valuable when she transitioned into investment operations, allowing her to bring an existing familiarity with the firm
- [Mandy Gannon](https://welchgroup.com/our-team/mandy-gannon/) - For Mandy Gannon, serving clients well as an Investment Operations Specialist begins with a genuine heart for service. Mandy joined The Welch Group in 2020 while seeking a new career path, bringing with her valuable experience from the hospitality, marketing, and retail industries. The communication and customer service skills she developed throughout her prior work
- [Mikaela Claudepierre](https://welchgroup.com/our-team/mikaela-rohn/) - Mikaela Claudepierre joined The Welch Group after graduating from Samford University in 2023. She brings a passion for both creative expression and analytical thinking. Originally starting in a traditional marketing role, Mikaela's responsibilities have expanded to include brand stewardship, firmwide design, compliance support, event planning, gifting, and enhancing client experience. She embraces each new opportunity
- [Andrea Messick](https://welchgroup.com/our-team/andrea-messick/) - Andrea Messick joined The Welch Group in 2013 as an Administrative Assistant & now serves as an Investment Operations Specialist. Learn more about her here.
- [Wendy Weber](https://welchgroup.com/our-team/wendy-weber/) - Wendy Weber joined The Welch Group in 2004 as a member of the Operations Department. Learn more about her and her experience here.
- [Robert Jeter](https://welchgroup.com/our-team/robert-jeter/) - Whether troubleshooting a device or resolving a software issue, Robert Jeter enjoys finding practical solutions that help technology work more effectively for the people who rely on it. As Junior Systems Administrator, he supports clients and colleagues with a responsive, problem-solving approach to technical challenges involving both hardware and software. Robert started at The Welch
- [Sarah Williams](https://welchgroup.com/our-team/sarah-williams/) - Technology and cybersecurity are essential components of The Welch Group's operations, and both are overseen by our Systems Administrator, Sarah Williams. As the head of the IT department, Sarah focuses on database architecture, management, and optimization, along with cybersecurity infrastructure. Her goal is to help ensure that the systems supporting our work remain secure, reliable,
- [Kelly DeRoy](https://welchgroup.com/our-team/kelly-deroy/) - Kelly joined Welch Investments in 2011 and currently serves as Senior Investment Operations Specialist. Learn more about her and her experience here.
- [Katie Deerman](https://welchgroup.com/our-team/katie-deerman/) - Katie Deerman serves as an Associate Advisor with The Welch Group, supporting clients and the advising team. After just more than two years in accounting, Katie chose to pursue a role in financial advising because she wanted to help make financial decisions feel more understandable and manageable for others. She especially values building meaningful relationships
- [Savannah Frickey](https://welchgroup.com/our-team/savannah-frickey/) - As an Associate Advisor with The Welch Group, Savannah Montgomery finds the opportunity to work with people from many different backgrounds and in various stages of life to be the most rewarding aspect of her current role. The Welch Group’s team approach allows her to learn from advisors across the firm and gain experience with
- [Madeline Kramer](https://welchgroup.com/our-team/madeline-isenhower/) - For Madeline Kramer, the value of financial planning extends beyond the plan itself. She is passionate about helping clients feel more at ease about their future so they can focus on the people, moments, and experiences that matter most to them. As an Associate Advisor at The Welch Group, she helps support clients, the advising
- [Cason Westmoreland](https://welchgroup.com/our-team/cason-westmoreland/) - Cason Westmoreland serves as an Advisor at The Welch Group, where he works with clients and collaborates with the firm’s broader team to help address a range of financial planning needs. His interest in the profession began during a college internship with a financial advisor in Tuscaloosa, where he saw firsthand how personal financial planning
- [Bradley Moore](https://welchgroup.com/our-team/bradley-moore/) - After building a strong career in the finance industry, Bradley Moore joined The Welch Group team in 2025. His approach to financial advising is deeply influenced by a personal experience: after his father passed away, he witnessed the exceptional care that his parents' advisor provided to his mother and family. This support proved to be
- [Cory Reamer](https://welchgroup.com/our-team/cory-reamer/) - After making a decision to change careers, Cory Reamer became an Advisor with The Welch Group in 2024. Since joining the firm, he has developed a genuine appreciation for spending time with clients, listening to their stories, and understanding their values. Every client is unique, which means that no two conversations or meetings are ever
- [Becky McIntyre](https://welchgroup.com/our-team/rebecca-mcintyre/) - Joining the firm as an intern in 2022, Becky McIntyre began her career in financial planning at The Welch Group. As an Advisor, she helps clients navigate both significant transitions and everyday decisions that arise along their financial journeys. Whether their getting married, starting a family, entering retirement, or having grandchildren, one of Becky’s favorite
- [Sean Tweedy](https://welchgroup.com/our-team/sean-tweedy/) - From personal experiences, Sean Tweedy developed a strong understanding of how financial decisions can shape a family’s future. Growing up, he saw how a few costly choices could have lasting consequences. This inspired him to pursue a career where he could help others achieve greater stability and opportunity. Today, he draws on that perspective to
- [Clay Wood](https://welchgroup.com/our-team/clay-wood/) - Clay Wood has always been passionate about finding opportunities to positively impact people's lives. By merging his desire to help others with his interest in finance, he discovered that becoming a financial advisor was the ideal way to work in financial services while making a meaningful difference for clients and the community. With this goal
- [Isabella Blount](https://welchgroup.com/our-team/isabella-wesley/) - Isabella Blount has been an Advisor with The Welch Group since 2020. She has always enjoyed getting to know people on a personal level and has a genuine curiosity about their stories: how they live, what they care about, and what they aspire to achieve. As a financial advisor, Isabella appreciates the opportunity to build
- [Greta Sandy](https://welchgroup.com/our-team/greta-sandy/) - Greta Sandy is a Senior Advisor who has been with the firm since 2022. Having transitioned from another profession, Greta was drawn to financial planning because of its unique balance between personal connection and analytical thinking. When working with clients, she prioritizes listening closely to what matters most to each individual. With that information as
- [Callie Waldrop](https://welchgroup.com/our-team/callie-jowers/) - Callie Jowers joined The Welch Group in 2012 as an Associate Advisor and now serves as an Advisor. Learn more about her and her experience here.

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