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A blue puzzle piece with "Life insurance" written on it is about to be placed into a white puzzle, signifying the importance of life insurance as an integral part of financial planning. The piece fits perfectly, underscoring how life insurance completes the overall financial picture.

What Is Life Insurance, and Do You Need It?

April 30, 2021

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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A young girl and a woman smile as the girl places a coin into a blue piggy bank. The woman, resting her chin on her hand, looks on proudly. They are seated at a table cluttered with more coins. The surroundings suggest a cozy indoor setting.

Roth IRA for Kids: Benefits, Eligibility, Investing

April 22, 2021

Here at SYM, our team gets lots of questions from clients about Roth IRA for kids. In fact, we have discussed the benefits of opening a custodial Roth IRA for the next generation before and covered the pros and cons in a separate article. Still, we wanted to take an in-depth look at some of the strategies for optimizing a Roth IRA for children. First things first. A “Roth IRA for kids” is a Roth

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A glass jar labeled "EDUCATION" is filled with coins and has a graduation cap on top. The jar is placed on a wooden surface with a stack of coins beside it. The background is blurred greenery. This scene symbolizes saving money for education.

529 Plans: A Secret Weapon for College Savings

April 22, 2021

529 plans are tax-advantaged savings accounts to save for your child’s college education. The technical name given to the 529 plan by the IRS is a Qualified Tuition Plan (QTP). Under this QTP, a contributor can prepay a beneficiary’s qualified higher education expenses at an eligible education institution — or contribute to an account for paying those expenses in the future. Distributions from 529 accounts are tax-free when used for qualified educational expenses. A great

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The image shows a microphone on the left side with the text "SYM Financial Advisors Podcast" to the right. The logo includes a green swoosh under "SYM." The background is white.

Employer-Sponsored Retirement Plans at SYM (podcast)

August 12, 2020

Join SYM principals and financial advisors Seth Whicker and Tom Ackmann as they discuss what makes Employer-Sponsored Retirement Plans unique. From fees and fiduciary to accomplishing your goals for your employees’ retirement, Seth and Tom explain how to look for and secure a truly trusted financial advisor.

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A yellow sticky note with a handwritten message: "To Do: Take RMD from IRA!" and a checked box next to the text highlights the important reminder to address your RMD.

Extension of rollover period for 2020 RMDs

June 30, 2020

While the CARES Act eliminated the requirement for individuals to take required minimum distributions (RMDs) from retirement plans in 2020, those who took their RMD before the Act’s passage found themselves in a sort of limbo solely due to timing.  According to existing rules, only those who took a distribution on or after February 1, 2020 could roll the distribution back into a plan or IRA and meet the 60 day rule.  Those who took

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