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Inflation takes many different forms, some more potentially devastating than others.
- Transitory Inflation is temporary inflation, caused by a spike, bottleneck or rush on a commodity or consumer good. Transitory inflation may be the result of political pressure and global conflict, which will resolve as the conflict ends or supply chains reemerge.
- Hyperinflation is a worst-case inflation scenario. Hyperinflation is a product of loss of confidence in a country’s central currency. In the 1920s, Germany experienced a 30,000% monthly inflation rate, as the world devalued the German Mark.
- Stagflation occurs when prolonged price growth exceeds real GDP growth. Stagflation is challenging because traditional tools to fight inflation – such as increasing the discount rate – lead to higher unemployment. The United States saw a period of stagflation in the late 1970s.
- Deflation occurs when prices drop. Price drops may be the result of a recession, where demand falls consistently over time. Deflation tends to occur by sector and is often transitory.
- Creeping inflation is a term generally used to describe prices increasing 0-3% annually. Consumers may not notice these price increases that often keep up with wage growth.
- Walking inflation is a term generally used to describe prices increasing 3-10% annually. Consumers may hoard inelastic goods, raising prices further. A combination of rationing, monetary and fiscal policy may be needed to combat walking inflation.
- Core inflation measures the rise in prices except for food and energy. Food and energy tend to be more volatile and removing those elements from an inflation calculation provides a steadier growth rate.
Tips to Beat Inflation
Inflation is particularly troubling when prices rise higher and faster than wages. When rent, food and transportation costs exceed wage growth, inflation becomes painful.- Consider your investments. Historically, precious metals, commodities, large-company “blue chip” stocks, I-bonds and real estate investment trusts (REITs) securities have held their value better than riskier assets during higher inflationary periods. Bond values tend to fall when interest rates rise, though their yields increase. Talking with an investment adviser will help you develop a portfolio that considers inflationary pressure in line with your financial goals.
- Review your budget and personal spending. Inflation gives families a great opportunity to sit down and talk about budgets. Are there streaming or subscription services you no longer use? Can you change your ratio between groceries, takeout and meal kits? Shave off ancillary costs where you can.
- Get strategic with your emergency fund. Financial planners tend to recommend keeping three to six months in savings to help protect from unemployment or other unforeseen costs. This can be tricky when the average interest paid on savings accounts remains less than 1.0%. i As you skim down your budget, you should be able to recalculate your emergency fund. Also consider laddering CDs or I-Bonds for a portion of your emergency fund. Talk with your financial adviser about building a custom plan for your emergency fund.
- Revisit your financial goals. Meet with a financial planner to talk about college savings, your retirement or other long-term goals. Cost shocks may create a need to adjust your savings and spending goals.
Looking at Your Life Insurance Program
A professional can help you determine whether you need term or permanent life insurance. People who overestimate the cost of insurance might be more comfortable with a less-expensive term policy. Coverage is likely needed, and it’s better to have coverage at a lesser rate with term than no coverage at all. When you look at your life insurance program, the things that should guide it are life events. There are a handful of major life events where you should consider getting a policy or updating one if you already have it. Major life events include getting married, having or adopting a child, becoming a stay-at-home parent, getting a divorce, getting a new job, starting a business or becoming self-employed, buying a house, caring for aging parents, sending kids to college and entering retirement. Depending on when those events happen, you could also walk through the age discussion.A Deeper Dive into Common Life Events
Let’s take a deeper dive into the three common life events.Buying a Home
Your home is one of the biggest assets you’ll ever purchase, and it takes a long time to pay for it. A 30-year mortgage is still a very common way to purchase a home, and insurance provides the leverage to ensure your family stays in the home. You bought your home for a reason – it’s likely in the neighborhood you wanted, the school system you wanted your kids to attend – and you don’t want to run the risk of having that family harmony disrupted. You want to make sure that if something happens to you, your family can stay in the home, stay in the same neighborhood, stay in the same school and that your spouse stays close to any support system they’ve built near their house. That’s why you protect that asset and ensure there’s an infusion of dollars when you need it the most. Any time you take on a new mortgage, you want to ensure your surviving spouse can pay for the house when you’re not there.Having Kids
When you have kids, you need to evaluate your insurance coverage. When you’re young and just getting started, you might think your spouse or partner can handle things on their own, so you don't give life insurance much consideration. But when you have kids, you’ve added an extra element. Whether it’s one child or multiple, your financial obligation goes up. You have to think about things like paying for childcare, ongoing expenses associated with raising kids and saving for college.New Job or Promotion
When you get a new job or a promotion, you’ll likely have a higher income. When your income increases, oftentimes your social economic landscape might change. You might have more debt obligation from buying a bigger house, and you have more income to protect. Families get accustomed to lifestyles based, on income and as incomes increase, those lifestyles will potentially change along with them. You want to make sure your coverage is compensatory to your higher income.Insurance as Part of College and Retirement Planning
Life insurance policies can also be used as additional retirement savings vehicles. Unlike a qualified retirement plan – where the government tells you how much to put in, how much to take out and when to take it out – with a properly funded life insurance policy, you can put in as much as you want based on the policy, and there is no limit as to when you can take it out. For example, nobody will stipulate that you have to take it out at age 72½. In comparing saving this way to a Roth IRA, the income stream could be income-tax free if it’s structured properly. The plan would pay a death benefit to beneficiaries if it wasn't used as a retirement savings vehicle, as initially intended. If you have kids, you can use certain policies as part of an approach to saving for college. If your child is already 15, it might be too late to incorporate this strategy as you won’t have enough time to plan for the cash value to “cook.” But if you do have the time, a professional can help you structure a policy as part of your college planning strategy. If you’re a parent funding college, you could use a life insurance policy’s cash value dollars tax-free to pay for a portion of college – maybe room, board or books. It’s best to have this be part of a broader strategy that includes other elements, like 529 plans. For example, for our two kids in college, we used 529 plans for the bulk of our planning, but as a reserve, we have a permanent life insurance policy that has cash value set aside. So if we don’t have enough, we could use this as a secondary source of college funding.Are You Underinsured?
Oftentimes people don’t take into account all their needs and compare those with the coverage you have. You might be going off what your colleagues or friends are doing, or you might be going off what you see or hear on TV ads. Professional help and a formal needs analysis would be ideal, but to get a quick gauge on whether you have enough coverage, look at four elements:- Debt obligations. First look at your debt obligations, including your mortgage and short-term loans (like car loans).
- Your age. For example, if you are in your early 40s and want to retire in your 60s, you might need to plan to replace 20 years of your income to protect your family should something happen to you.
- Kids. Do you have kids that you need to pay for childcare or college costs should something happen to you?
- Whether you have reserves. Do you have some cash to fall back on? If not, you might need more coverage.
Fixed, Discretionary and One-Time Expenses in Retirement
The first step of creating a retirement budget is to list all expected expense and then sort them into one of three categories:- Fixed expenses are typically the non-negotiables of your budget. Do you have a mortgage? What does your average electric bill look like? Do you plan on paying for health insurance before Medicare starts? Listing out these expenses can be helpful in determining the minimum level of income you’ll need; it may also lend a hand in choosing your retirement income strategy.
- Discretionary expenses are what make retirement fun. Are you looking forward to spending quality time with your grandkids during the summers? Do you enjoy working on DIY projects around the house? Discretionary items are distinct in that, should situations warrant, they could be minimized or altogether cut. What’s discretionary to one person may be fixed for another, so if you find yourself unwilling to cut some of these expenses, go ahead and either sort them in order of priority or add an asterisk (*) next to those that are least negotiable.
- One-time or large purchases are those things that you’ve been saving for retirement. New countertops for the kitchen? How about that Alaskan cruise you’ve always talked about?
The Margin – Setting a Baseline
Many well-intentioned clients and their advisors have gone through this process only to find themselves off-target. Why was it that the most detailed Excel spreadsheets seemed to fall short, while others that were more loose-fitting hit their mark? After studying dozens of client situations, the answer came in the margin. Income – Savings - Actual Expenses = Margin Or stated another way: Income - Savings - Margin = Actual Expenses When my client who called had created their retirement budget, she was very good at listing out all of their fixed expenses. But their discretionary budget was hopeful, at best. Although they thought they had done a great job creating their budget, they had never actually lived on that amount. And they’re not alone! Sure, there are some people who are natural-born savers, but for the average person, our budget ends up being whatever is deposited into our checking accounts. Add on the occasional raise and the annual cost-of-living adjustments and it’s not hard to see that the budget was now 30-40% higher due to “lifestyle creep” spending that filled up the margin. Let's put some numbers to this. Prior to retirement, my clients earned about $150,000 (income), from which they contributed approximately $25,000 through their employer-sponsored plans (savings). At the end of each month, they put whatever monies were left into their joint account, which averaged approximately $750 per month (margin). My client had told me that she expected that they could live on $4,500 per month or $54,000 per year. But how did that actually match their current situation? In reality, the couple was spending more than $72,000 per year – 33% more than their projected budget of $54,000. When they both finally retired and began living off the $4,500 per month, they quickly found themselves with more “month” than they had money and subsequently began tapping into cash reserves. In addition, new home projects, higher utility usage and more frequent trips to their favorite restaurant downtown had increased their discretionary spending, further accelerating their portfolio distributions. Had we first investigated the margin rather than asking the client to itemize her projected expenses, we would have had a clearer idea of the actual cost of their current lifestyle. This approach prioritizes being realistic on what your current spending looks like before determining whether your sources of income can support your current lifestyle.Dress Rehearsal for Retirement
In an ideal world, everyone would retire with the same level of income as their final working years, or better. But quite often people must make sacrifices to give their finances the best shot at funding a 20-, 30- or 40-year time horizon. For clients who will likely need to reduce their spending in retirement, I recommend a dress rehearsal. No show on Broadway would go live without doing a dress rehearsal first, so why not see how your retirement budget performs before going live with retirement? To start, have your paycheck deposited into a separate account from that which you normally spend or withdraw money. Ideally, paychecks would be directed first into your savings account. Then, a recurring transfer deposits your budgeted amount into your checking. If you're able to customize the timing of your transfers, try to replicate the cadence of your current paychecks like on the 1st and 15th of every month. Did you end the month with excess cash? Or did you have more “month” than you had money? Over the course of a few months, you’ll be able to recognize your spending patterns. This information can help you adjust your retirement budget to ensure that it more closely matches your actual spending.Is Your Retirement Income Stream and Retirement Spending Sustainable?
Now that you’ve determined the cost of your current lifestyle relative to your fixed expenses and tested your budget during the dress rehearsal of your retirement, you can begin thinking of whether your sources of income can sustain this level of spending through a 20-, 30- or 40-year retirement. If you need help formulating your retirement budget or adjusting your plan, reach out to your advisor or schedule a consultation. [post_title] => Don’t Blow Your Budget! Tips to Create Your Retirement Spending Plan [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => dont-blow-your-budget-tips-to-create-your-retirement-spending-plan [to_ping] => [pinged] => [post_modified] => 2022-05-02 08:02:23 [post_modified_gmt] => 2022-05-02 13:02:23 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?p=64890 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 73765 [post_author] => 182131 [post_date] => 2022-04-25 12:16:15 [post_date_gmt] => 2022-04-25 17:16:15 [post_content] => By Craig Lemoine, Director of Consumer Investment ResearchStocks, bonds and mutual funds have had a rocky start to the year. The S&P 500, a broad measure of the United States stock market, was down 4.6% over the first quarter. Mutual funds holding stocks and bonds have also lost value. These losses are jarring following an outstanding 2021, where the S&P 500 gained just under 30%. Why the exhale? The balloon was blown up too quickly. Understanding why your IRA or 401(k) has suddenly lost value requires taking a step into the past.
- Persistent Inflation – A combination of COVID-caused supply chain issues, low unemployment, wage increases and global political uncertainty is clobbering inflation. Rising prices for food (6.3% the last 12 months ending December 2021), energy (29.3%) and all other items (5.5%) have taken their toll on budgets. Recent unemployment numbers are 3.6%, lower than pre-COVID levels. Fewer Americans searching for jobs, coupled with pandemic driven child-care hurdles, have pushed wages higher. Higher wages couple with higher input prices (lumber, steel, commodities, energy), pressuring producers to raise prices. These prices ripple down the supply chain to stores nearby. Inflation has caused the market to pause and raised questions about sustainability and fundamental assumptions around growth.
- Are We Back to Work Yet? – The COVID-19 omicron variant threw a meaningful hurdle into America’s return to work. Plans to phase back in in-person workforces, employees finding a groove working from home, commuting and traveling were all affected. Sudden economic shifts for any reason add to volatility and, in this case, challenge recovery estimates from last year. Equities have stumbled as future revenue, business model and sales projections have been challenged.
- The Federal Reserve is Raising Interest Rates to Help Combat Inflation – The Federal Reserve is a governing body for the United States banking system. It has three primary goals: maximize employment, stabilize prices and moderate long-term interest rates. Prices have been anything but stable. The Federal Reserve is raising rates on money it lends to member banks, which will in turn raise rates companies and retail investors are charged when they borrow. Ratcheting up rates will slow down the economy and result in additional adjustments to profitability, revenue and business model expectations. These adjustments have pushed stock prices lower.
- Bond Prices Fall When Interest Rates Rise – An economic concept called duration explains the relationship between interest rates and bond prices. Duration can be tricky – take an example of a car company borrowing money. The company plans on using the money to build a new manufacturing facility, and plans on paying it back over 10 years. The company could sell bonds, borrowing money from consumers and paying them back some type of interest every year. At the end of 10 years, the company would pay back the initial loans.
- Uncertainty Feeds Volatility – Stock and bond markets thrive on knowing what will come next. Predictable stability helps companies forecast, make strategic decisions and execute business plans. Stability helps predict future revenue and income, which provides a framework for equity prices. Uncertainty constantly challenges this framework and casts a deeper shadow on assets with risk. More volatile assets, such as bitcoin and tech stocks, have been subject to steeper losses than their more predictable contemporaries.
Planning for Uncertainty
Obviously, you can’t be prepared for every curveball that might come your way before and during retirement, but there are some “certain” uncertainties you can guard against. I like to call these the known unknowns. One of these uncertainties is legislative changes. Though major legislation doesn’t come out of Washington at the fastest rate, when it does happen, it can bring major changes to programs like Social Security and Medicare as well as to other areas of retirement planning. The reality is that laws will change and we have to understand that is a part of the legislative process. During the Trump administration, the Tax Cuts and Jobs Act and the SECURE Act brought major changes to tax planning, estate planning and more. And though it’s been stalled for months, we could soon see another push by the Biden administration to pass Build Back Better Act – though possibly under a different name and with different provisions than what we saw in 2021. And there’s still the possibility we could see the SECURE Act 2.0 before the end of the year, as it has passed in the House with a 414-5 vote in its favor and moved to the Senate. You also need to be aware of outside factors that can influence the markets. Just in the past couple of years, we’ve seen the COVID-19 pandemic and, more recently, Russia’s invasion of Ukraine lead to stock market volatility, inflation and supply chain issues. That’s why it’s important to have a solid retirement plan in place, so that you can withstand and adjust to these unexpected changes and events.Not Outliving Your Money
When we think about the risks we face in retirement, our own longevity probably isn’t one that comes to mind. Though it’s not exactly right to call this a risk – who doesn’t want to live longer? – it can exacerbate other risks you might face in retirement. The longer you live, the more likely you are to face some kind of risk that could affect your retirement – say, rising inflation or a market downturn that would impact your savings. The longer our retirement is going to be, the bigger risk we have that inflation could reduce our purchasing power. And many people who make it through a long and successful retirement will still end up needing significant long-term care at some point, which can incur significant expenses. There are no easy and cheap ways to plan for long-term care, but there are some options to consider. You can keep savings in your own portfolio to cover these expenditures, or set aside assets or income from sources like Social Security, your home or a pension. Another option is insurance, either with a standalone policy or a hybrid life insurance/long-term care policy. [Read more: Yes, You Can Make a Solid Long-Term Care Plan. Here’s How and Why It’s Important] Whatever you choose to do, remember that Medicare isn’t really an option, since it wasn’t designed to cover long-term care – though Medicaid does in some circumstances.There’s No 'Magic Number’
If you knew you had just enough retirement savings to cover all your expenses through the end of your life but would have nothing left over, would you take that tradeoff? A lot of people likely would – you'd live very comfortably in retirement, though you’d have nothing to pass on to the next generations of your family. Despite this thought experiment, there’s no “magic number” to save for that accomplishes this. Even if you feel sure when you retire that you won’t outlive your money, not having enough saved isn’t a problem that becomes apparent until you’re well into retirement. That being said, you can use something like the 4% withdrawal rate to get a ballpark of what you might be able to spend in retirement and what you need to save. For example, let’s say you determine you need $60,000 a year in retirement, and five years from retirement you have $1 million saved . Withdrawing 4% from that $1 million gives you $40,000 a year, adjusted for inflation, to spend for 30 years if you can maintain that level of savings until retirement. Now add in income from Social Security and other sources in retirement, and you’re likely close to your spending goal. Things won’t always work out that neatly, though. However, if you flip the 4% withdrawal rate on its head, it implies that you need to save 25x what you want to spend in retirement. So what can you do ahead of time to maximize your chances of success? Let’s take a look at steps you should take 10 years, five years and one year from retirement.10 Years from Retirement
You’ve likely been putting money in a retirement account like a 401(k) or IRA throughout your working life (do not feel bad if you have not been), but this is the point where you should begin getting more granular about retirement income planning. You need to shift your focus from accumulation and savings to spending, expenses, and what you can maintain through retirement. Your life has so far been about saving your income, now you need to start thinking about turning your savings into income. Start getting a clearer picture about what kind of spending you’re going to have in retirement and the lifestyle you want to live – are you planning a lot of travel, or do you want to buy a new home and relocate? Once you crunch the numbers, you may find you’re on track to achieve the spending level you want in retirement. Or you may find that you’re short of your goal. Either way, you can still get a lot done in this time period. People often overestimate what they can accomplish in one year, but underestimate what they can get done in 10 years. That makes this 10-years-out period the ideal time to focus on tax planning and reducing your tax bill in retirement. Taxes are likely to be one of your biggest expenses in retirement, so we want to minimize them as much as possible. One way to do this is by planning for Roth conversions early in retirement and in lower-income years when you start to scale down your work, which can reduce the amount of required minimum distributions from your retirement accounts. Qualified charitable distributions, bunching strategies and college education planning strategies are other tools at your disposal to lower your tax bill in retirement. You should also think about diversification of your taxes and taxable investments so that you have assets in after-tax accounts like a Roth IRA, to minimize the risk you face from future changes to tax rates. But ten years before retirement you still have time to save and plan. Start thinking about savings, income, and how long you can work. [Read more: Tax Planning in Retirement: Strategies to Minimize Taxes When You Retire5 Years from Retirement
Once you’re five years out from retirement, you’ll be entering one of the riskiest periods of your retirement planning – lasting until five years into retirement. If you get bad market returns or your portfolio suffers a loss right before or just into retirement, you could have to take withdrawals from that portfolio early in retirement, which could deplete your funds sooner than expected. As such, a big decision as you near retirement is what is the right investable asset mix that you have in your retirement savings portfolio. Asset allocation, your mix of stocks, bonds, and fixed-income sources, play a crucial role in retirement. That makes five years from retirement a good time to do a retirement income needs analysis by figuring out what you’ll need to spend and what income you’ll have at your disposal. If you realize you might be short of your goals, there are steps you can take to try to mitigate that shortfall. One strategy is to take on more risk in your investment portfolio to try to bridge that income shortfall, though this carries obvious downsides. You could also look at replacing certain investments with other types that might carry a similar risk but provide better retirement income solutions. For instance, you could replace part of your bond portfolio with an annuity or some other fixed income source to move up the return. Another option could be to get more precise about where your income will come from in retirement. Some people engage in bucketing, a style of retirement income planning that aligns assets and income to timeframes. So you might set aside a bond ladder for the first five years of retirement and leave your market assets for use 10 years or more out in retirement. You could also consider boosting your savings by delaying retirement and working longer. Though delaying retirement might not sound very appealing, a little can go a long way with this strategy – working just one year longer can result in two to three years of retirement spending. If delaying retirement isn’t for you, other solutions include deferring Social Security to improve your inflation-adjusted income throughout retirement, downsizing your home, moving to a state with lower taxes or trimming back your retirement travel plans.1 Year from Retirement
Though your plan is mostly set in stone at this point, there’s still plenty you can do to solidify and refine it. However, there are also things to avoid so you don’t blow up your plan. With one year to go until retirement, now is the time to start executing rollovers and exchanges. The idea here is that it is time to simplify. If you’re moving properties, you’ll want to be sure that they’re properly titled, that they’re in the right place if they’re part of your estate plan and that you have the right beneficiaries designated. You also want to consider what impact your heirs and loved ones will face from a liquidity and tax standpoint when you pass away, and do the most efficient planning possible so that you leave them in a good place. Estate plans often change a bit once you retire. In addition to all your planning, this is also when you should start considering how you’ll phase into retirement. I often see people, once they retire, move or relocate but not find the satisfaction that they were looking for. With a year to go before retirement, you have some time to “test out” what your life will be like once you stop working and make adjustments if you find it’s not exactly what you expected. One way to blow up your retirement is to retire too soon, without a plan on where you will live, how you will spend your time, and where you will find meaning. The non-financial aspects of retirement, like enjoying life and spending time with family and friends, is just as important as the financial side. Once you’ve retired, there’s still some regular “maintenance” that needs to be done on your plan. This includes ensuring your estate documents are up to date, determining if you need a trust in place, making sure your beneficiary designations match current laws and reviewing your life insurance policy. [Read more: Knowing When to Update Your Estate Plan]Live By Design, Not By Default
Ultimately, retirement planning isn’t just about planning for a good life – it’s about planning for a good end of life. It’s also about the legacy you’ll leave behind, to your spouse, your children and your grandchildren. With proper planning, you can help ensure that once you’ve retired, you’ll be living life by design, not by default. Money shouldn’t dictate the kind of life you’ll live in retirement. Instead, you should have enough money to live the life you want. Make sure you're on the right path toward retirement by scheduling a visit with your financial professional. Converting from a traditional IRA to a Roth IRA is a taxable event. Jamie is not affiliated or registered with Cetera Advisor Networks LLC. Any information provided by Jamie is in no way related to Cetera Advisor Networks LLC or its registered representatives. Jamie is not registered with CWM, LLC as an investment advisor representative and does not provide product recommendations or investment advice. [post_title] => What You Need to Do 10, 5 and 1 Year Before Retirement [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => what-you-need-to-do-10-5-and-1-year-before-retirement [to_ping] => [pinged] => [post_modified] => 2022-04-27 13:35:02 [post_modified_gmt] => 2022-04-27 18:35:02 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?p=64856 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 5 [current_post] => -1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 74815 [post_author] => 182131 [post_date] => 2022-05-17 08:36:27 [post_date_gmt] => 2022-05-17 13:36:27 [post_content] => By Craig Lemoine, Director of Consumer Investment ResearchDifferent Types of Inflation
Inflation takes many different forms, some more potentially devastating than others.- Transitory Inflation is temporary inflation, caused by a spike, bottleneck or rush on a commodity or consumer good. Transitory inflation may be the result of political pressure and global conflict, which will resolve as the conflict ends or supply chains reemerge.
- Hyperinflation is a worst-case inflation scenario. Hyperinflation is a product of loss of confidence in a country’s central currency. In the 1920s, Germany experienced a 30,000% monthly inflation rate, as the world devalued the German Mark.
- Stagflation occurs when prolonged price growth exceeds real GDP growth. Stagflation is challenging because traditional tools to fight inflation – such as increasing the discount rate – lead to higher unemployment. The United States saw a period of stagflation in the late 1970s.
- Deflation occurs when prices drop. Price drops may be the result of a recession, where demand falls consistently over time. Deflation tends to occur by sector and is often transitory.
- Creeping inflation is a term generally used to describe prices increasing 0-3% annually. Consumers may not notice these price increases that often keep up with wage growth.
- Walking inflation is a term generally used to describe prices increasing 3-10% annually. Consumers may hoard inelastic goods, raising prices further. A combination of rationing, monetary and fiscal policy may be needed to combat walking inflation.
- Core inflation measures the rise in prices except for food and energy. Food and energy tend to be more volatile and removing those elements from an inflation calculation provides a steadier growth rate.
Tips to Beat Inflation
Inflation is particularly troubling when prices rise higher and faster than wages. When rent, food and transportation costs exceed wage growth, inflation becomes painful.- Consider your investments. Historically, precious metals, commodities, large-company “blue chip” stocks, I-bonds and real estate investment trusts (REITs) securities have held their value better than riskier assets during higher inflationary periods. Bond values tend to fall when interest rates rise, though their yields increase. Talking with an investment adviser will help you develop a portfolio that considers inflationary pressure in line with your financial goals.
- Review your budget and personal spending. Inflation gives families a great opportunity to sit down and talk about budgets. Are there streaming or subscription services you no longer use? Can you change your ratio between groceries, takeout and meal kits? Shave off ancillary costs where you can.
- Get strategic with your emergency fund. Financial planners tend to recommend keeping three to six months in savings to help protect from unemployment or other unforeseen costs. This can be tricky when the average interest paid on savings accounts remains less than 1.0%. i As you skim down your budget, you should be able to recalculate your emergency fund. Also consider laddering CDs or I-Bonds for a portion of your emergency fund. Talk with your financial adviser about building a custom plan for your emergency fund.
- Revisit your financial goals. Meet with a financial planner to talk about college savings, your retirement or other long-term goals. Cost shocks may create a need to adjust your savings and spending goals.
Don’t Blow Your Budget! Tips to Create Your Retirement Spending Plan
Five Reasons Your IRA is Deflating, and What to Do About It
What You Need to Do 10, 5 and 1 Year Before Retirement
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But how do you know what type of policy to choose and if it will adequately cover your needs? This resource helps you identify your insurance goals, offers basic guidance on how to pick the optimal policy and outlines when to work with your professional to update your coverage. Download the checklist today to get started. [post_title] => How to Pick an Insurance Policy [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => how-to-pick-an-insurance-policy [to_ping] => [pinged] => [post_modified] => 2022-05-10 08:35:22 [post_modified_gmt] => 2022-05-10 13:35:22 [post_content_filtered] => [post_parent] => 0 [guid] => https://cloud.carsonmx.com/resource?brandid=&guidekey=when-shifting-goals-mean-shifting-plans [menu_order] => 0 [post_type] => free-guides [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 73421 [post_author] => 90034 [post_date] => 2022-04-08 09:46:54 [post_date_gmt] => 2022-04-08 14:46:54 [post_content] => Your retirement is the culmination of years of careful planning, and you don't want to fumble the ball when the end zone is in sight. Download our checklist of key tasks to complete in the year leading up to your retirement to make sure you're prepared for this major life milestone. Download the checklist today to get started. [post_title] => What You Need to Do in the Year Before You Retire [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => what-you-need-to-do-in-the-year-before-you-retire [to_ping] => [pinged] => [post_modified] => 2022-04-27 14:10:35 [post_modified_gmt] => 2022-04-27 19:10:35 [post_content_filtered] => [post_parent] => 0 [guid] => https://cloud.carsonmx.com/resource?brandid=&guidekey=when-shifting-goals-mean-shifting-plans [menu_order] => 0 [post_type] => free-guides [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 72041 [post_author] => 181142 [post_date] => 2022-02-15 17:33:23 [post_date_gmt] => 2022-02-15 23:33:23 [post_content] => Health care costs in retirement aren't going anywhere. Naturally, as our bodies get older, it costs more to keep them running. And with U.S. health care spending expected to rise at a rate 1.1% faster than the annual GDP, this cost will come home to our pockets. Statistics like this make Medicare part of life for many Americans. Let's look at the parts of this vital program and how it plays a part in your financial plan. Download the checklist today to get started. [post_title] => Medicare and Managing Health Care Costs in Retirement [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => medicare-and-managing-health-care-costs-in-retirement [to_ping] => [pinged] => [post_modified] => 2022-02-15 17:39:32 [post_modified_gmt] => 2022-02-15 23:39:32 [post_content_filtered] => [post_parent] => 0 [guid] => https://cloud.carsonmx.com/resource?brandid=0016g00000bSLDqAAO&guidekey=when-shifting-goals-mean-shifting-plans [menu_order] => 0 [post_type] => free-guides [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 71394 [post_author] => 181142 [post_date] => 2022-01-05 08:43:27 [post_date_gmt] => 2022-01-05 14:43:27 [post_content] => Your plan shouldn't look the same when you’re 55 as it did when you were 35, and part of that is because you have ever-changing goals. So how do you know when it’s time to adjust your financial plan? Use this checklist to evaluate your goals and decide when it's time to contact your advisor for an update. Download the checklist today to get started. [post_title] => When Shifting Goals Mean Shifting Plans [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => when-shifting-goals-mean-shifting-plans [to_ping] => [pinged] => [post_modified] => 2022-01-05 12:56:08 [post_modified_gmt] => 2022-01-05 18:56:08 [post_content_filtered] => [post_parent] => 0 [guid] => https://cloud.carsonmx.com/resource?brandid=0016g00000bSLDqAAO&guidekey=tax-planning-checklist [menu_order] => 0 [post_type] => free-guides [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 64090 [post_author] => 55227 [post_date] => 2021-12-03 08:00:42 [post_date_gmt] => 2021-12-03 14:00:42 [post_content] => Over the last year, we experienced an economic recovery from an ongoing global pandemic, new and pending legislation that affected taxes and retirement planning, and more. So as you prepare to file your 2021 taxes, don't just pack a folder with receipts and important documents. Consider these changes, and look to take advantage of tax opportunities. Download the checklist today to get started. [post_title] => Tax Planning Checklist [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => 2022-tax-planning-checklist [to_ping] => [pinged] => [post_modified] => 2021-12-13 14:27:19 [post_modified_gmt] => 2021-12-13 20:27:19 [post_content_filtered] => [post_parent] => 0 [guid] => https://cloud.carsonmx.com/resource?brandid=0016g00000bSLDqAAO&guidekey=10-questions-to-determine-if-your-advisor-meets-standards [menu_order] => 0 [post_type] => free-guides [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 5 [current_post] => -1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 74403 [post_author] => 90034 [post_date] => 2022-05-09 14:08:58 [post_date_gmt] => 2022-05-09 19:08:58 [post_content] => Life insurance plans are designed to offer your family an infusion of income in the event of your death, so your loved ones won't have to worry about finances while they are grieving. But how do you know what type of policy to choose and if it will adequately cover your needs? This resource helps you identify your insurance goals, offers basic guidance on how to pick the optimal policy and outlines when to work with your professional to update your coverage. Download the checklist today to get started. 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Resources
Resources
How to Pick an Insurance Policy
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- The S&P 500 declined for the seventh straight week and narrowly missed entering a bear market.
- Retail sales climbed 0.9% showing the consumer remains willing to buy items even as prices have increased.
- Retailers struggled with higher labor and shipping costs and uncertain supply chains. Earnings dropped while sales increased.




- The S&P 500 declined for the sixth straight week.
- Consumer prices rose 0.3% last month. The annual inflation rate declined for the first time since 2021.
- Approximately 85% of S&P 500 companies have cited inflation as a factor on earnings calls.


Inflection Point 1: COVID-19 Shifts From a Pandemic to an Endemic
COVID has had an incalculable amount of destruction on this world. The loss of life. The economic impact on businesses. The cancelled opportunities and memories with friends and families. It’s been a tough two years. But what we are likely going through right now is the inflection point of COVID going from a pandemic (widespread, simultaneous uncontrolled infectious disease) to an endemic, where the virus may remain a significant health threat but it becomes more seasonal and predictable similar to other communicable diseases. And while this inflection point of a pandemic unfolds, right now we are living through the by-products that affect way more than just our health. The reopening of the world post-pandemic is one of the major reasons that inflation is surging. The combination of businesses trying to get back up to speed after being shuttered through the pandemic (picture a car that hasn’t started in a year trying to get going again), mixed with the pent-up demand of Americans ready to upgrade the house they’ve been confined to, go on a vacation, or get a new car, is creating an inbalance of supply and demand that is putting pressure on prices of everything from eggs to airfare to housing. And the result is the highest inflation rates in four decades. Chart 1: Inflation at Multi-Decade High







Inflection Point 2: Policies Shift From a Tailwind to a Headwind
Another inflection point is the shift from accommodating aid from governments and agencies to a new environment of hawkish and tightening policy. In other words, the spiked punch at the economic recovery party is being replaced with black coffee. Fiscal spending, which was trillions in aid, has come to an end. And now, monetary policy from the Federal Reserve is in its inflection point from the tailwind of near-zero interest rates to the perceived headwinds of tighter financial conditions. Chart 5: The Fed’s Path to More a Normalized Rate Environment

Inflection Point 3: The Four-Year Presidential Cycle Hits its Mid-Point
The endless swarm of political ads are coming. So is the rhetoric from both sides of the aisle that things are bad and need changing. This brings more than just ramped-up political tensions. This inflection point serves as a level of uncertainty for markets regarding the future path of policy and the make-up of decision-makers. As a result, the second of the four-year presidential cycle is usually the most volatile leading up to the mid-term elections. Chart 6: The Mid-Term Year Is the Most Challenging of the Presidential Cycle



Conclusion
It’s important to note that market volatility is both commonplace and healthy, especially after the greater-than-100% rally in stocks following the pandemic lows just over two years ago. In fact, since 1980 every single year has seen a pullback in stock prices, with the average being around a 14% decline. And while market dislocations are never a pleasant experience, they have rewarded patient, long-term investors with attractive entry points. Of the 33 market corrections since 1980, 90% of them saw gains over the following year – averaging ~25%. Our view remains that we are near or even past the peak of inflation and with a limited but swift series of interest rate hikes, the Fed can curb inflation further while creating a soft landing for the economy. Furthermore, the market is unsettled, having to deal with three or more simultaneous inflection points that are driving uncertainty and volatility. But as these shifts unfold through the rest of 2022, we expect equity markets to stabilize and reverse course. We continue to stress that the best course of action is patience and sticking to your investment plan, which has incorporated anticipation of volatility like we’re facing today. If history has proved anything it’s that the market, like most things in life, is more fragile than we might expect in the face of uncertainty over the short run. But it’s far more resilient over the long run than we often give it credit for. Evidence of this stands right before us given the realization of just how far we have come since the pandemic’s onslaught two years ago. Then, it was the inundation of cancellations – everything from shuttered workplaces to closed schools, cancelled graduations and public gatherings. But our optimism for the near-term future was never cancelled. Neither was our hope. The long-term prosperity of America remains, as do the attractive prospects for long-term investors that patiently benefitted from the market’s recovery and our nation’s healing. Our future was never cancelled, and it certainly isn’t today. It has just ignited our resolve. This newsletter was written and produced by CWM, LLC. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The views stated in this letter are not necessarily the opinion of any other named entity and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results. [post_title] => Special Market Commentary: What's Stressing Out Stocks? These Market Inflection Points [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => special-market-commentary-whats-stressing-out-stocks-these-market-inflection-points [to_ping] => [pinged] => [post_modified] => 2022-05-13 13:46:19 [post_modified_gmt] => 2022-05-13 18:46:19 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=market-commentary&p=64908 [menu_order] => 0 [post_type] => market-commentary [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 74386 [post_author] => 90034 [post_date] => 2022-05-09 09:04:12 [post_date_gmt] => 2022-05-09 14:04:12 [post_content] => Market volatility surged last week, although the end result for the S&P 500 was a decline of only 0.2%. Central banks were the main culprits for the volatility. On Wednesday, the Federal Reserve announced it would raise rates 0.5% and clarified plans on how it will shrink its balance sheet. In the subsequent press conference, Fed Chair Jay Powell announced there are no plans for rate increases of 0.75% in a single meeting. Those comments contributed to a sharp rally in the S&P 500, which increased almost 3% on Wednesday. Key Points for the Week- Stocks surged and sagged after interest rate hikes and comments from the U.S. and U.K. central banks produced far different market reactions.
- The U.S. economy produced 428,000 jobs in April, beating expectations and reassuring investors the economy remains relatively strong. Unemployment held steady at 3.6% and labor force participation dropped 0.2%.
- Demand for labor remains robust as job openings and quits set record highs in March.


- There are no plans to raise rates by 0.75% based on the current environment, which reduces the risk the Fed will raise rates too fast and push the economy into a recession.
- The Fed’s plan to reduce its balance sheet is faster than expected and was viewed positively as a way to reduce inflation without having to raise interest rates too quickly.
- Powell stated the Fed is looking to raise rates when inflation is controlled, rather than raise them past neutral and force a recession to remove inflationary pressures.
- The Fed remains confident it can engineer a “soft or softish landing,” meaning the economy would slow and avoid a severe recession.
- The vote was unanimous.
- Equities struggled and suffered a fourth consecutive week of losses, with growth fears and weak Q1 earnings providing the largest headwinds.
- The S&P 500 is now down 13.5% from its recent peak, with Friday’s close the lowest in 2022.
- GDP came in below expectations, but it was mostly driven by reduced inventories and weak exports.


- The S&P 500 declined for the seventh straight week and narrowly missed entering a bear market.
- Retail sales climbed 0.9% showing the consumer remains willing to buy items even as prices have increased.
- Retailers struggled with higher labor and shipping costs and uncertain supply chains. Earnings dropped while sales increased.






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[post_title] => Leveraging Life Insurance as a Financial Planning Tool [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => leveraging-life-insurance-as-a-financial-planning-tool [to_ping] => [pinged] => [post_modified] => 2022-05-23 08:34:36 [post_modified_gmt] => 2022-05-23 13:34:36 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=videos&p=64929 [menu_order] => 0 [post_type] => videos [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 74920 [post_author] => 90034 [post_date] => 2022-05-19 14:34:05 [post_date_gmt] => 2022-05-19 19:34:05 [post_content] => Watch this webinar hosted by Carson’s Jamie Hopkins, Managing Partner, Wealth Solutions, and Burt White, Managing Partner and Chief Strategy Officer, as they obtain valuable insights into staying strong during market uncertainty. [post_title] => Staying Strong During Market Uncertainty [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => q2-2022-quarterly-market-outlook-2 [to_ping] => [pinged] => [post_modified] => 2022-05-19 14:46:56 [post_modified_gmt] => 2022-05-19 19:46:56 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=videos&p=64927 [menu_order] => 0 [post_type] => videos [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 73751 [post_author] => 90034 [post_date] => 2022-04-25 07:45:15 [post_date_gmt] => 2022-04-25 12:45:15 [post_content] => Watch this webinar hosted by Carson’s Scott Kubie, Senior Investment Strategist, and Patrick Sittner, Portfolio Strategist, as they cover this quarter's market outlook. [post_title] => Q2 2022: Quarterly Market Outlook [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => q2-2022-quarterly-market-outlook [to_ping] => [pinged] => [post_modified] => 2022-04-25 07:45:15 [post_modified_gmt] => 2022-04-25 12:45:15 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=videos&p=64876 [menu_order] => 0 [post_type] => videos [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 73403 [post_author] => 90034 [post_date] => 2022-04-08 11:32:46 [post_date_gmt] => 2022-04-08 16:32:46 [post_content] => Watch this webinar hosted by Carson’s Managing Partner, Wealth Solutions, Jamie Hopkins, as he covers taxation in retirement. [post_title] => Taxation in Retirement [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => college-savings-tactics-for-the-savvy-investor-2 [to_ping] => [pinged] => [post_modified] => 2022-04-08 11:32:46 [post_modified_gmt] => 2022-04-08 16:32:46 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=videos&p=64864 [menu_order] => 0 [post_type] => videos [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 72624 [post_author] => 90034 [post_date] => 2022-03-18 13:52:56 [post_date_gmt] => 2022-03-18 18:52:56 [post_content] => Watch this webinar hosted by Carson’s Managing Partner, Wealth Solutions, Jamie Hopkins, and Planner, Ryan Yamada, as they cover college savings tactics for the savvy investor. [post_title] => College Savings Tactics for the Savvy Investor [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => college-savings-tactics-for-the-savvy-investor [to_ping] => [pinged] => [post_modified] => 2022-03-18 13:52:56 [post_modified_gmt] => 2022-03-18 18:52:56 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=videos&p=64829 [menu_order] => 0 [post_type] => videos [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 5 [current_post] => -1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 74931 [post_author] => 90034 [post_date] => 2022-05-23 08:16:59 [post_date_gmt] => 2022-05-23 13:16:59 [post_content] => Watch this webinar hosted by Carson’s Matt Lewis, Vice President, Insurance, and Tom Fridich, Senior Wealth Planner, as they dive into leveraging life insurance as a financial planning tool. 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Videos
Videos
Leveraging Life Insurance as a Financial Planning Tool
Staying Strong During Market Uncertainty
Q2 2022: Quarterly Market Outlook
Taxation in Retirement
College Savings Tactics for the Savvy Investor
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The 10-person team is led by managing directors and wealth advisors, Robert A. Karn, JD, LLM, CFPⓇ and Jeffrey P. Couzens, CFPⓇ and has $800 million in assets under advisement. “There were a lot of reasons why we chose to partner with Carson,” explains Robert Karn. “But one of the biggest reasons was the industry-leading technology available to us as Carson Wealth and what that will enable us to do for our clients. These tools will help streamline our clients’ digital experience, making it easier for them to visualize their financial plan, access their investments and communicate with our team.” Robert Karn has been helping high-net-worth families and businesses discover and plan for their financial goals for nearly 40 years. Karn began his career in financial services when he and wealth advisor, Jim Couzens opened Karn Couzens & Associates in 1987. Jeffrey Couzens joined Karn Couzens & Associates, Inc. in 1997, following in his father, Jim’s footsteps. “Our goal has always been to deliver maximum value to our clients and provide them with a ‘best-in-class’ experience,” said Jeffrey Couzens. “Aligning with a trusted partner like Carson will allow us more time to foster true partnerships with our clients and help them live their best lives by developing plans to help them prioritize and achieve their financial goals.” “Bob and Jeffrey have built a tremendous multigenerational family business, dedicated to serving the greater Hartford area,” said Ron Carson, founder and CEO of Carson Group. “As part of the Carson Wealth team, they have access to resources to secure their firm’s legacy and provide so much more for their clients – comprehensive financial planning, trust services, insurance solutions, tax strategy and a dedicated investment management team.” “Carson’s extensive network gives us a succession plan that supports our existing team and reinforces the work we’re committed to doing for our clients,” added Karn. “We believe we are now even better positioned to look toward the future with renewed confidence.” Karn Couzens & Associates, LLC, will be the 35th Carson Wealth branded office in the U.S. Carson currently manages $20 billion in assets and serves more than 40,000 families through its advisory network, including 35 Carson Wealth offices. For more information, visit www.carsonwealth.com. [post_title] => Carson Group Adds $800M AUA Karn Couzens & Associates to Growing Partner Network [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => carson-group-adds-800m-aua-karn-couzens-associates-to-growing-partner-network [to_ping] => [pinged] => [post_modified] => 2022-05-10 10:24:25 [post_modified_gmt] => 2022-05-10 15:24:25 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.carsonwealth.com/?post_type=news&p=74448 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 73777 [post_author] => 90034 [post_date] => 2022-03-25 14:07:37 [post_date_gmt] => 2022-03-25 19:07:37 [post_content] => By: Erin Wood, CFP®, CRPC®, FBS®, Senior Vice President, Financial Planning, Carson GroupLaura and Caroline are in their late 50s. Friends since meeting at a playgroup for their toddlers, both were in long-term, seemingly happy marriages. Laura married her high school sweetheart right after they graduated from college and worked as an RN while her husband attended medical school. When their first child was born, Laura decided to become a stay-at-home parent. She just celebrated sending her last child off to college and was looking forward to enjoying an empty nest with her husband.
Already established in her career as an accountant for a large insurance firm, Caroline married a bit later, at 33. Today, she’s a financial controller for the same firm. Her spouse owns his own landscaping business. Caroline is the high-wage earner in the family.
Unfortunately, both women are now surprised to be facing a “gray” divorce: a divorce involving couples in their 50s or older. Each will need to make some tough choices as they deal with the emotional devastation of unraveling a long-term marriage. Although my focus as a financial planner is to help my clients find their financial footing during and after divorce, I also encourage clients to build a strong network of family and friends as well as a therapist or clergy person to offer critical emotional support during this time.
Read full article on Kiplinger.com
[post_title] => Emerging Financially Healthy After a Gray Divorce [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => emerging-financially-healthy-after-a-gray-divorce [to_ping] => [pinged] => [post_modified] => 2022-03-25 14:07:37 [post_modified_gmt] => 2022-03-25 19:07:37 [post_content_filtered] => [post_parent] => 0 [guid] => https://carsonhub.wpengine.com/?post_type=news&p=64886 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 72316 [post_author] => 90034 [post_date] => 2022-02-28 12:58:37 [post_date_gmt] => 2022-02-28 18:58:37 [post_content] => Carson Wealth in Napa, California, announced that wealth advisor, Tom Commander and senior planner, Tim McNamara are joining Kent Kuhlmann’s team and adding to the firm’s expanding footprint in Northern California. The Carson Wealth team in Napa serves affluent families, business owners, executives and institutions in Napa, Sonoma, San Jose and surrounding areas. The firm currently manages more than $100 million in assets for families and businesses in 32 states. “The decision to join Carson Wealth was an easy one,” said Tom Commander, wealth advisor. “This strategic move gives me the opportunity to provide clients with the support of Carson Wealth’s full roster of highly specialized professionals offering services ranging from estate planning, investment management and financial planning.” Before joining Carson Wealth, Commander worked as an investment advisor with Jacobson Wealth Management. Commander joined the financial services profession after serving 29 years in law enforcement with the Napa Sheriff’s Office. While working for Napa County, Commander served as a member of Napa County’s Deferred Compensation Board for 12 years. As a board member and chair, he discovered he had a passion and interest in the financial services industry and decided to pursue a career as a financial professional. Commander holds a life, health and accident insurance license for the state of California. Senior planner, Tim McNamara, a 30-year financial services veteran, will also be joining Carson Wealth. McNamara previously owned and operated his own consultancy practice and specialized in advising clients on estate, tax, business succession, charitable planning and real estate development needs. “I have found that the needs of our ultra-high-net-worth investors are unique and require strategies tailored to their individual needs,” said McNamara. “Carson Wealth embraces a highly-customized approach and has invested heavily in systems that give clients the services they want. With this partnership, I now have access to industry-leading technology that will allow me to provide clients with planning solutions that are right for them.” Carson currently manages more than $20 billion in assets and serves more than 40,000 families among its advisor network of 120 partner offices, including 35 Carson Wealth locations. [post_title] => Tom Commander & Tim McNamara Join Carson Wealth’s Napa Office [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => tom-commander-tim-mcnamara-join-carson-wealths-napa-office [to_ping] => [pinged] => [post_modified] => 2022-03-07 13:01:17 [post_modified_gmt] => 2022-03-07 19:01:17 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.carsonwealth.com/?post_type=news&p=72316 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 71963 [post_author] => 181142 [post_date] => 2022-02-09 15:44:59 [post_date_gmt] => 2022-02-09 21:44:59 [post_content] => Salt Lake City, Utah (Feb. 9, 2022) — Signal Wealth Advisors, a full-service financial planning and investment firm based in Salt Lake City, announced today that it is rebranding to Carson Wealth. The 14-person team, led by managing partners and wealth advisors Duane Toney CPA, PFS and Thom Hall CFP®, ChFC®, currently manages $250 million in assets. Since joining Carson Partners in 2017, Signal Wealth has experienced tremendous growth and has been able to better serve its clients by having the backing of Carson’s industry-leading financial planning solutions. “Carson’s industry-leading technology has helped streamline our clients’ digital experience, made it easier for them to visualize their financial plans, access their investments and communicate with our team,” said Duane Toney. “By taking the next step to rebrand as a Carson Wealth office, we not only have an ownership interest in each other’s firms, but we are now better positioned to grow and add additional advisors to our team,” added Toney. “By aligning ourselves with the Carson brand we have the peace of mind in our firm’s legacy,’ said Thom Hall. “We now have a strong succession plan in place for our clients and know they will continue to be cared for by our team for generations to come.” "Additionally, Carson’s extensive network offers a robust succession solution that supports our existing team, anticipates client needs and reinforces the work we’re committed to doing for our clients. We believe we are now even better positioned to look toward the future with renewed confidence.” Duane Toney started the business that later became Signal Wealth in 2002. Since then, Toney has helped affluent families, business owners, entrepreneurs and executives in the Salt Lake City area focus on investment management, tax minimization and wealth protection. Thom Hall founded Thom K. Hall Financial Group in 2000 and combined forces with Signal Wealth in 2018. He has been advising clients on how to protect and manage wealth for over 25 years. “Our decision to partner with Thom & Duane came from a mutual desire to serve their clients well, expand their resources and support and help them continue to grow,” said Ron Carson, CEO and founder of Carson Group. “We are proud to add them to our team and we look forward to growing our presence in Utah.” As with other advisors who have affiliated and rebranded as Carson Wealth offices, Toney and Hall will maintain active majority ownership of the firm and will remain the strategic decision-makers for all business decisions and operations in the Salt Lake City office. Carson currently manages $20 billion in assets and serves more than 40,000 families through its advisory network, including 35 Carson Wealth offices. For more information, visit www.carsonwealth.com. About Carson Wealth Founded in 1983, Carson Wealth is one of the fastest growing financial services firms in the country, serving clients through holistic financial planning, disciplined investment strategies and proactive, personal service. Carson Wealth is headquartered in Omaha, Nebraska, with the mission to be the most trusted for financial advice. For more information visit, www.carsonwealth.com. Securities offered through Cetera Advisor Networks LLC, Member FINRA/SIPC. Investment advisory services offered through CWM, LLC an SEC Registered Investment Advisor. Cetera Advisor Networks is under separate ownership from any other named entity. 6955 S Union Park Center, Ste 250, Midvale, UT 84047 [post_title] => Signal Wealth Advisors Rebrands to Carson Wealth [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => signal-wealth-advisors-rebrands-to-carson-wealth [to_ping] => [pinged] => [post_modified] => 2022-04-25 14:05:24 [post_modified_gmt] => 2022-04-25 19:05:24 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.carsonwealth.com/?post_type=news&p=71963 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 71890 [post_author] => 90034 [post_date] => 2022-02-08 09:05:24 [post_date_gmt] => 2022-02-08 15:05:24 [post_content] => OMAHA, Neb., February 7, 2022 - Carson Wealth has been recognized as a 2022 Best Places to Work for Financial Advisers by InvestmentNews. Carson Wealth was chosen as one of this year’s top 75 based on employer and employee surveys delving into everything from company culture, benefits, career paths and more. “We’ve continued to raise the baseline for our stakeholders and being named to this list for the fourth time is a huge achievement for our firm,” said Kelsey Ruwe, Chief of Staff at Carson Group. “2022 brings more opportunity to focus on internal engagement, and we thank InvestmentNews for shining a light on those in our profession who are going above and beyond.” InvestmentNews partnered with Best Companies Group, an independent research firm specializing in identifying great places to work, to compile the survey and recognition program. “In a year that’s seen so much turmoil in the workplace – from mask mandates and canceled office reopenings to The Great Resignation – InvestmentNews is proud to spotlight those firms with a proven record of investing in their most valuable resource: their employees,” said Paul Curcio, executive editor of InvestmentNews. “We applaud this year’s finalists and wish them all the best in 2022.” To learn more about the InvestmentNews 2022 75 Best Places to Work for Financial Advisers, visit www.bestplacesforadvisers.com. Carson currently manages $20 billion in assets and serves more than 40,000 families through its advisory network, including 30 Carson Wealth offices. For more information, visit www.carsonwealth.com. [post_title] => Carson Wealth Named a 2022 Best Places to Work for Financial Advisers by InvestmentNews [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => carson-wealth-named-a-2022-best-places-to-work-for-financial-advisers-by-investmentnews [to_ping] => [pinged] => [post_modified] => 2022-02-08 09:10:27 [post_modified_gmt] => 2022-02-08 15:10:27 [post_content_filtered] => [post_parent] => 0 [guid] => https://www.carsonwealth.com/?post_type=news&p=71890 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 5 [current_post] => -1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 74448 [post_author] => 90034 [post_date] => 2022-05-10 10:24:25 [post_date_gmt] => 2022-05-10 15:24:25 [post_content] => Karn Couzens & Associates, Inc., a full-service financial planning and wealth management firm with offices in Farmington and Wallingford, Conn. announced today that it is joining Carson Wealth. The 10-person team is led by managing directors and wealth advisors, Robert A. Karn, JD, LLM, CFPⓇ and Jeffrey P. Couzens, CFPⓇ and has $800 million in assets under advisement. “There were a lot of reasons why we chose to partner with Carson,” explains Robert Karn. “But one of the biggest reasons was the industry-leading technology available to us as Carson Wealth and what that will enable us to do for our clients. These tools will help streamline our clients’ digital experience, making it easier for them to visualize their financial plan, access their investments and communicate with our team.” Robert Karn has been helping high-net-worth families and businesses discover and plan for their financial goals for nearly 40 years. Karn began his career in financial services when he and wealth advisor, Jim Couzens opened Karn Couzens & Associates in 1987. Jeffrey Couzens joined Karn Couzens & Associates, Inc. in 1997, following in his father, Jim’s footsteps. “Our goal has always been to deliver maximum value to our clients and provide them with a ‘best-in-class’ experience,” said Jeffrey Couzens. “Aligning with a trusted partner like Carson will allow us more time to foster true partnerships with our clients and help them live their best lives by developing plans to help them prioritize and achieve their financial goals.” “Bob and Jeffrey have built a tremendous multigenerational family business, dedicated to serving the greater Hartford area,” said Ron Carson, founder and CEO of Carson Group. “As part of the Carson Wealth team, they have access to resources to secure their firm’s legacy and provide so much more for their clients – comprehensive financial planning, trust services, insurance solutions, tax strategy and a dedicated investment management team.” “Carson’s extensive network gives us a succession plan that supports our existing team and reinforces the work we’re committed to doing for our clients,” added Karn. “We believe we are now even better positioned to look toward the future with renewed confidence.” Karn Couzens & Associates, LLC, will be the 35th Carson Wealth branded office in the U.S. Carson currently manages $20 billion in assets and serves more than 40,000 families through its advisory network, including 35 Carson Wealth offices. For more information, visit www.carsonwealth.com. 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Market Commentary
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