THE WEALTH NAVIGATOR BLOG
CarsonAllaria’s Financial Blog on Retirement and Wealth Management
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How Tariffs Could Impact Your Investments, Retirement, and Everyday Expenses
With new tariffs shaking up global trade, many investors are wondering how these policies will impact their portfolios, retirement plans, and even day-to-day expenses. Tariffs, essentially taxes on imports, can drive up costs for consumers and create uncertainty in the stock market. But should you make drastic changes to your investment strategy?
2025 Stock Market Predictions
Most market predictions miss the mark—2024 was no exception. Learn why predictions fail and how long-term strategies can lead to smarter investing in 2025. Every year, financial analysts, media pundits, and so-called market gurus make bold predictions about the stock market. Some claim the next great crash is imminent, while others insist that a particular
2025 Retirement Contribution Limits
The IRS has announced new contribution limits for Traditional IRAs, Roth IRAs, 401(k)s, and Simple IRAs for 2025, along with updated Standard Deduction amounts and Marginal Tax Brackets. . For those wanting to contribute more to their retirement plans or those simply wanting to map out their savings strategy for 2025, this is good news.
Term vs. Whole Life Insurance
When someone says, “How much life insurance do I need?” they are essentially saying, “How much death benefit do I need?” The answer to that depends on what you intend the death benefit to cover.
How Much Life Insurance Do I Need?
When someone says, “How much life insurance do I need?” they are essentially saying, “How much death benefit do I need?” The answer to that depends on what you intend the death benefit to cover.
Can I Retire at 60 with $1 Million Dollars?
Retiring with a million dollars at age 60 might sound like a comfortable plan, but the reality is more complex than simply reaching a certain dollar amount in your portfolio. The feasibility of retiring at any given age with any amount of money depends on numerous factors, including pension income, Social Security benefits…
Semi-Retirement and How it Can Benefit You
Semi-retirement involves reducing work hours or responsibilities while still maintaining some level of employment. This approach leverages the expertise and experience individuals have built over their careers, allowing them to ease into retirement rather than stopping abruptly. This approach can offer a…
What Does The Stock Market Do in an Election Year?
As the 2024 presidential election approaches, many investors are questioning how the stock market will react and what actions they should take with their portfolios. Roughly half of investors are concerned about the possibility of another four years for Joe Biden. The other half is terrified at the..
Reduce Taxes with Charitable Giving
Are you tired of donating cash to charities and missing out on potential tax savings? There are four different ways, including Gifting Appreciated Shares, Qualified Charitable Distributions (QCDs), Bunching Donations into One Year, and Mega-Bunching with Donor Advised Funds
Assets and Aging: Should Parents & Adult Children Co-Own Assets?
Taking care of aging parents can be unfamiliar territory for anyone who is put to the task. However, it is something that many in their 50s and 60s are dealing with today. And, part of navigating that unfamiliar territory is trying to find a way to more easily “Mom or Dad’s” financial accounts.
Social Security Benefits: Will I Get Any?
Social Security is facing a crisis as it heads toward insolvency by 2034. If no changes are made, all Americans would face a 20% cut in benefits across the board. However, there are several possible solutions, but time is of the essence. In today’s uncertain economic climate, one question looms large for…
2024 Stock Market Predictions
What do financial experts say is going to happen in the stock market during 2024 and should we listen? The evidence suggests that despite these institutions spending millions of dollars or more on market research, it is incredibly difficult to predict future short-term market movements. As we step into the unknown territory of….
2024 IRS Cost of Living Adjustments
The IRS has announced new contribution limits for Traditional IRAs, Roth IRAs, 401(k)s, and Simple IRAs for 2024, along with updated Standard Deduction amounts and Marginal Tax Brackets.The IRS has released its 2024 cost of living adjustments, which include new...
2023 Stock Market Predictions and Why You Should Ignore Them
It’s that time of year again…when we see stock market predictions being released by financial institutions, fund managers, financial media personnel, and other financial “experts.” Most of these predictions end up being wildly inaccurate, yet they keep being made, and many keep listening.
Secure Act 2.0: Top 10 Changes
Secure Act 2.0 has been passed and continues to build upon retirement legislation that was passed in the original Secure Act of 2019. The bill is filled with dozens of changes to previous retirement law and provisions will be phased in over the next several years, with some starting immediately in 2023.
Social Security Loopholes
The Bipartisan Budget Act of 2015 made some significant changes to a few key Social Security filing strategies. Specifically, the legislation removed some well-known loopholes that were used by many to increase spousal benefits. These loopholes involved the file-and-suspend and restricted filing strategies.
Don’t Fear a Recession, but be Prepared
With the challenges of 2022 still looming, including inflation and the Fed’s trend of aggressive interest rate hikes, some economic “experts” have called for a recession in 2023. However, it’s important to note that although not all recessions start for the same reason, they have all been ended by a common..
Year-End Strategies to Lower Taxes & Optimize Investments
When a new year is approaching, that means the window for certain opportunities is closing. Taking advantage of a few simple year-end strategies can help save you taxes and increase your bottom line. The year is almost over, and it has certainly been a bumpy one for the financial markets….
Should I Do a Roth Conversion?
Roth conversions are the repositioning of assets in a Traditional IRA or qualified employer sponsored retirement plan to a Roth IRA. This strategy could make sense for investors even as they approach retirement, but it’s important to understand the implications that may arise. We know that taxes are one of life’s inevitables…
Retirement Investing Strategies
Retirement investing isn’t completely different than investing prior to retirement. The same risks and thought patterns should apply. However, the end strategy will likely look different due to expected withdrawals during the retirement phase. It’s no secret that retirement investing can seem more…
5 Mistakes in a Bear Market to Avoid
Bear markets can make it difficult for investors to stay the course. Stock market volatility and negative headlines give the impression that you should be doing something and poor investor behavior may begin to emerge. Stock market investing can be emotionally challenging in a bear market, especially when combined with a major world….
What Does War Do To the Stock Market? Should You Worry?
The Russia-Ukraine conflict has left many investors worried as they wonder what will happen to their stocks during the war. That is why it is especially important during times of heightened volatility and uncertainty to remember the fundamentals of investing and the keys to mastering behavioral finance.
2021 Review + 2022 Stock Market Predictions
At the beginning of every year, we see stock market predictions being released by financial institutions, fund managers, financial media personnel, and other financial “experts.” Most of these predictions end up being wildly inaccurate, yet they keep being made, and many keep listening.
Health Savings Accounts: A Best-Kept Secret?
Health Savings Accounts (HSAs) are somewhat of a hidden gem in the investment world. Many people may have heard of an HSA before, but few are aware of how beneficial they can be.In many of my own client interactions, I find that people may have a decent understanding...
Charitable Donations Using Stock, Not Cash
Before you get the wrong impression of the headline, I think giving to charity is great. In fact, I think people should do more of it. This article, however, wasn’t written to change your attitude about charitable giving, but about the method in which you administer your gifts to lower…
Monte Carlo vs. Linear Planning for Retirement Projections
Retirement planning often includes making assumptions on future unknowns. To avoid negative outcomes down the road, it’s best to understand a range of possible outcomes using either Monte Carlo simulations or a series of linear projections. Planning for retirement is both an art and a science.
Annuities: Pros, Cons, and What are They, Anyway?
Some people love them. Some hate them! So, are annuities good or are they bad? The truth is that because there are so many different types of annuities, they cannot all be characterized as either good or bad. Each annuity should be evaluated independently based on each individual’s situation.
EQ vs. IQ When Investing
The ups and downs of investing can cause some investors to experience “market fatigue.” It’s not always our balances that get beat down, but our emotions, which is why a high level of EQ (or emotional intelligence) can be more beneficial than a high IQ. The ups and downs of investing can cause some investors to experience….
7 Medicare Questions You Should Know How to Answer if You’re Over 60
Medicare covers millions of Americans, yet is still widely misunderstood. Knowing when to enroll in Medicare, what Medicare covers, and the costs associated are just a few crucial things to know as you approach Medicare eligibility. Despite Medicare insuring…
7 Social Security Mistakes & How to Avoid Them
Bad Social Security advice and poor claiming strategies continue to cost retirees, especially those eligible for spousal, survivor, and divorced retirement benefits. Social Security has provided benefits to Americans for over 80 years and is a pillar of retirement in the US. However….
Identity Theft & How to Protect Against Cyber Attacks (15 Ways)
Cybersecurity may not often be included as part of wealth management, but poor practices could lead to significant financial loss. However, many cases of identity theft can be prevented with prudent practices and security measures. Identity theft is an issue that...
Should I Invest Near a Market High?
When the stock market is near an all-time high, some investors decide to exit the stock market, fearing of a possible decline. Although this is a common and logical concern, historical data shows that may not be the most prudent approach to navigating markets that are near all-time highs.
Is the 60/40 Portfolio Dead?
Portfolios with 60% stocks and 40% bonds have been a staple of investing for the last few decades, but many think these portfolios could face major challenges in the next several years. With interest rates near historic lows, successful bond investing could look much different in the future. The 60/40 portfolio has been a common strategy..
5 Financial Impacts of the Democrat Blue Wave
Democrats swept the 2020 elections, which means investors are evaluating how that could impact their portfolios, taxes, and overall economic recovery. Forecasts are mixed, but investors are encouraged to keep a long-term focus. The elections dominated headlines for several months leading up to….
Market Predictions for 2021 and Why To Ignore Them
Every year, investment advisors & other financial “experts” release their market predictions for the upcoming twelve months. Many investors listen. However, these predictions are frequently and sometimes drastically wrong. It’s 2021 and you’re looking for a great start to the year in your….
College Savings: Is a 529 Plan Right for Your Child?
A 529 College Savings Plan could be a great way to contribute to your child’s financial future, but is it the best? Tax-advantaged accounts, like 529s, also come with restrictions and less flexibility to offset their tax benefits. But, a 529 College Savings Plan isn’t your only option in saving for your….
What to Do in Retirement
Being able to answer the question “What will I do when I retire” and having a plan for your retirement lifestyle can help you stay engaged and can lead to a healthier and more enjoyable retirement, studies say. Your retirement years are supposed to be your golden years, right? But, have you ever had the thought, “What will I do..
Investment Help with 3 Simple Questions
The stock market can seem simple for some and leave others searching for investment help. However, a “good” investing outcome can be achieved in many ways. But, it's your mindset, expectations about investing, and the way you approach investing that has much to do...
5 Smart Tax Moves for your Brokerage Account
Whether you acquired a brokerage account via inheritance, divorce, or simply contributing over time, a brokerage account combines the growth potential of stocks and mutual funds with the liquidity of a savings account. However, while growth can be a good thing, it can...
3 Myths About the Stock Market During Election Years
Every four years, we are essentially told the fate of the world hangs in the balance of which presidential candidate wins the election. This narrative is used by both major political parties in the U.S. However, historical data tells a different narrative, and it’s one that debunks some of the most common…
If Everyone is Selling, Who is Buying?
The Great Wealth Transfer has been historically known as the shift of assets from Baby Boomers to their heirs, which some estimate to be in the ballpark of $68 trillion over the next two decades.1 But, I’d like to share about a different transfer of wealth, one that all investors need to be aware of.
5 Ways to Get More Money in a Roth IRA
When the world feels like it’s on the brink of implosion, it seems trivial to write or think about taxes. But, with the thought that taxes might go up in the future, especially in Illinois, many are wondering how to get more money in a Roth IRA today (to pay taxes now and not in the future). Of course, it is…
The 3 Biggest Surprises of Retirement
Retirement presents many unknowns for those planning to enter their “golden years.” As it goes, more uncertainty tends to result in more anxiety. However, some components of retirement aren’t quite what they seem. Here are three of some of the biggest surprises of...
4 Sources of Income During Retirement
etting a regular paycheck is one of the most comforting things about your working years. Therefore, not getting paychecks in retirement can be a major cause of stress. With all the different investment strategies out there for investing and producing income, the decision of how to create an income…
How to Navigate the 3 Financial Phases of Life
Your financial goals and priorities certainly change throughout your life. These changes result from many factors and are common. In fact, you will experience three distinct phases in your financial life (accumulation, preservation, and distribution). To avoid major...
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About the Blog
The Wealth Navigator is a financial blog that was created in 2015 to provide pertinent, yet digestible wealth management tips for the average, everyday person. You don’t need to have a PhD in finance or a Series 7 license to understand the posts in our blog. Yet, the strategies covered can provide immense value to readers when implemented.
The blog primarily focuses on the following wealth management topics:
- Retirement Planning (withdrawal strategies, investing near retirement, Social Security analysis, and Medicare planning)
- Investment Management (behavioral finance, diversification, markets)
- Tax Planning (tax-reduction strategies, tax-loss harvesting, charitable giving strategies, etc.)
- Risk Management (life insurance, long-term care concerns, long-term disability)
- Estate Planning (generational planning, estate tax reduction strategies, wills/trusts/powers of attorney)
Joe Allaria, a Partner and Wealth Advisor with CarsonAllaria Wealth Management, and a primary writer for the blog, has been featured in several financial publications, including; The Wall Street Journal, USAToday.com, Nasdaq, CNBC.com, Yahoo Finance, and Investopedia.