Starting a conversation with your parents about their finances and goals can be challenging. While the idea may feel uncomfortable, it’s an essential step to ensure that your parent’s wishes are understood, their plans are in place, and that you are prepared to support them without taking control or intruding on their independence. Rather, it’s about fostering a dialogue that enables clarity, support, and future preparedness.

Investors have a reason to smile as stocks, bonds, and cash all posted positive returns this quarter. Tamer inflation gave the Federal Reserve (Fed) room to reduce rates for the first time since March 2020, with a 0.5% cut marking a shift toward a more balanced policy. For the year, the S&P 500 is up 22.1%, which is the best start to a year since 1997 and the best presidential election year since 1928 (Herber Hoover versus Al Smith for the history buffs).

Looking to make a greater impact with your charitable giving? Donor Advised Funds offer flexibility and tax benefits that can help you maximize your contributions. Explore how DAFs can be a powerful tool in your financial plan.

Stocks finished the first half of the year on a high note, marking its best start to an election year in the last century. Returns were driven primarily by the largest companies in the US, thanks to a surge in spending on Artificial Intelligence (AI). Smaller US companies and the global market experienced slight pullbacks. The quarter was relatively calm, with only one day when the market moved more than 1.5%, which is unusual. The Federal Reserve kept short-term interest rates steady. Inflation continued to cool but it remained above the 2.0% target. Bond markets were also stable, with rates ending the quarter about where they began.

Summer is an excellent time for all sorts of improvement and maintenance projects, from losing a few pounds and getting in shape to hiring contractors or tackling DIY projects. There's a lot of planning, organizing, and work involved, but the goal is to spend the lazy days of summer enjoying the fruits of your labor now.  

Traditionally, our clients opt to contribute annually or monthly to a 529 college savings plan, steadily building an account to cover higher education costs. While this approach is the most common, “superfunding” a 529 plan presents an exciting alternative.

As the 2023 tax season wraps up for many of you, it's prudent to start thinking about optimizing your tax situation for the current year and beyond. The best time to begin planning for next year’s taxes is to proactively start now. As surprising as it may sound, the higher inflation rates we have been experiencing may positively impact your 2024 tax planning.

The year started on a strong note for stocks with the S&P 500 posting its best first quarter since 2019. The index is sitting at new all-time highs, being driven by resilient corporate profits, optimism that the economy has avoided a recession, and a continued boom in Artificial Intelligence (AI) spending. International and US small-cap stocks rallied along with their larger peers.