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A close-up image shows a glass jar labeled "Savings" filled with coins. Adjacent to the jar is a folder partially labeled "Taxes" in bold black letters. The scene is set on a white background with a leather item partially visible in the foreground.

Tax Saving Strategies While Approaching Retirement

October 27, 2021

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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Retirement Tax Strategies for Women

September 24, 2021

Saving for retirement is challenging no matter who you talk to. So why have a separate set of retirement tax strategies for women? It is true that both men and women are subject to the same IRS rules. They have similar resources and savings tools at their disposal. However, different life circumstances can make saving for retirement different for women. Our SYM Financial Women’s Initiative leader, Michelle Hipskind, puts it best. “Women have a tough

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An elderly couple, both wearing glasses and blue shirts, are sitting together. The man is holding a pen and looking at a document, while the woman is smiling and looking at a computer screen that displays a sketch.

3 Common Mistakes in Establishing a Trust

September 20, 2021

Have you been considering establishing a trust as part of your estate plan? Trusts are often overlooked and under-appreciated in the big picture of estate planning. Most people focus on a will, yet wills are not a silver bullet. They are simply an estate planning tool, which means that they have a clear purpose and some limitations. The function of a will is to tell the executor of your estate how you’d like your assets

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A woman and an elderly man sit on a bench outdoors. The woman, wearing a blue jacket and patterned scarf, smiles and touches the man's shoulder. The man, in a beige coat and grey scarf, holds a cane and smiles back. A wheelchair is positioned nearby.

Planning for the Cost of Life Care

September 7, 2021

Are you prepared to cover the cost of elder care for yourself or your loved one? As the costs of medical care and other related expenses continue to rise, this is an important conversation to have — inside of your own family, and with your financial advisor. What can you expect to pay? According to Genworth, the median cost of in-home care is $54,912 per year. If you have to go to a nursing home,

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Key Estate Planning Documents and Tips for Women | SYM Financial

August 12, 2021

At some point in life, every woman will have to consider the family’s estate planning documents. Whether through a divorce, a death in the family, or a decision to not get married, leaning on someone else to think through the estate plan is simply not an option for many of our clients. And even for those who are happily married and who could delegate these decisions to their significant other, having some level of understanding

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Two paper cutouts of human figures holding hands are placed over U.S. dollar bills. The figures, representing people, are positioned on a wooden surface partially covered by the money.

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

July 16, 2021

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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