Traditions
Wealth Insights

Over the past several months, economic headlines have begun to raise the possibility of stagflation in the U.S. economy. This term describes the rare and troubling combination of sluggish economic growth, persistent inflation, and elevated unemployment. Each condition alone can be challenging, but when they occur together, the policy tools normally used to fix one problem can worsen the others. What Is Stagflation? Stagflation is an unusual economic environment where the econ

Investing is not about “getting rich” or “playing the market.” It’s an essential part of achieving financial wellness. That means being able to meet your needs and the needs of those who depend on you as well as being able to set and achieve goals that go beyond merely being able to pay your bills and manage debts like mortgages, credit cards, and student loans. These 6 steps can help you increase your investing success and achieve financial wellness, even when financial mark

Question: “What is inflation?” Inflation, simply put, is the rate at which the general level of prices for goods and services rises over time. It is inversely related to purchasing power, meaning that when inflation rises, each dollar buys less than before. For example, one dollar in the 1950s could buy more products than it would now, showing that the currency had more purchasing power back then. Moderate inflation indicates a healthy economy, reflecting growing demand, risi

Will you pay income tax on Social Security in retirement? For now, the answer in many cases is yes. This could change in the coming years as lawmakers debate changes to Social Security, including a proposal to eliminate the federal income tax on Social Security completely. While retirees might welcome this change, the idea faces political headwinds. For now, about 2 out of every 5 Social Security recipients will pay federal income taxes on their benefits, usually because they

Because I'm in the financial industry, my friends often come to me with questions about money, especially when something changes in their life-like when a girlfriend got a new job and had questions about her 401(k) or a baseball mom friend got an inheritance. Their financial situation had changed, and they weren't sure what to do. My sister is a perfect example. She always let her husband handle the practical things, like decisions around money. When he died suddenly at the a

March Madness is not just about basketball, as you are finishing your taxes, why not re-evaluate your retirement plan. How much do you need to save for retirement? It's one of the most common questions people have. And no wonder. There are so many imponderables: When will you retire? How much will you spend in retirement? And for how long? Our savings factors are based on the assumption that a person saves 15% of their income annually beginning at age 25 (which includes any e