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Insights

The Cost of Emotions in Financial Decisions

You might think that the hardest financial decisions are knowing which investments to pick, mitigating downside risk, or understanding how taxes might impact your returns. But there is one thing that can derail your investment portfolio even faster than poor investment choices and tax mistakes. That is the voice inside your head. On the surface, our daily thoughts and emotions may seem trivial. However, they can trick us into chasing after investments that don’t make

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How to Teach Kids About Money at Any Age

Teaching kids about money is just like developing good manners and strong work ethics. Effective money habits aren’t innate. They have to be shaped with intention, guidance, and knowledge, and they usually begin with the parents. The toughest part of teaching anything is that it is not enough to say all the right things. The right things should also be modeled. Kids are observant. Your behaviors, decisions, and attitudes with money will shape their relationship

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2021 Year End Deadlines

The year is drawing to a close in a flash and this is the time to address important year end deadlines. Following are key things you should be in communication with your advisor about now. Custodians are busier than normal years and we expect delays that haven’t been experienced in the past.  If you haven’t squared away with your SYM team already, we advise making it a priority. 529s Planning to make a contribution to

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Tax Saving Strategies While Approaching Retirement

Taxes are difficult to avoid, but there are many tax saving strategies that can help you minimize your lifetime tax bill. Do you know what tax savings you’ll use when you retire? So much of retirement planning is focused on accumulating the largest nest egg possible. However, the income that your nest egg will generate can evaporate quickly if your tax bills are higher than they need to be. As Judge Learned Hand once said,

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The new Child Tax Credit. What is it all about?

The American Rescue Plan Act (ARPA) of 2021 expanded the Child Tax Credit and introduced some unique changes.  You likely have heard about this lately in the news or from your accountant. This outline provides direct links to IRS information, a breakdown of and how it may affect you. Does the Child Tax Credit change give me more money? One key feature of the ARPA is the credit amounts have increased for the 2021 tax

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What Is Life Insurance, and Do You Need It?

Life insurance is a sensitive topic. Nobody likes to sit down to discuss their mortality, but it is a conversation every responsible person should have. Life insurance can provide financial protection in the event a family member passes. There are many types of life insurance that could be considered for various stage of life, from birth to death. Who Needs Life Insurance? Life insurance can be a vital piece of a solid financial plan, particularly

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