You worked hard, saved well, and now you are stepping into retirement. This transition from accumulation to the distribution phase of life can be stressful. It is important we maximize the amount of money available for us to spend and one of the most important ways we do that is through making efficient decisions on which investment account type we take withdrawals from and when.
One of the more talked-about features of the recently passed tax legislation is the introduction of "Trump Accounts" — a new type of savings/investment account intended to give children a financial head start. If you have young kids or grandkids you may be wondering whether this is something worth paying attention to.
Paying for a child’s education often involves balancing multiple savings tools, each with its own tax advantages and planning opportunities. Two of the most common options are the Coverdell Education Savings Account (ESA) and the 529 plan.
A Durable Power of Attorney (DPOA) is one of the most important—but often overlooked—documents in a sound estate plan. While many individuals focus on wills and trusts, a properly structured DPOA is what ensures that financial decisions can continue seamlessly during your lifetime if you become unable to manage your affairs.
Let’s face it, sometimes life can be messy. On occasion, we have the discussion with clients about what would happen if they were to pass away, leaving their adult child with a sizable inheritance and then their child goes through a divorce. Would the son, or daughter-in-law be able to take these inherited assets in the event of a divorce?
In this episode of Finance in a Flash: Plain Talk, we wrap up our three-part series on unemployment data by zooming out to the bigger picture—what the jobs report really tells us about the economy. Using the latest data from early 2026, we break down the relationship between employment and GDP, explain why job growth can lag behind economic growth, and explore how trends like artificial intelligence and productivity gains may be reshaping the labor market.
Over the course of the last several weeks, I have spent more time than normal listening to the business news channels. I know that many of our clients tune in to these shows and I want to hear the issues being discussed. One thing that is often ignored is the concept of adaptability. That is, as governments, businesses and people realize that a problem or inefficiency exists, they make changes that alter the trajectory of possible outcomes...they adapt.
In this episode of Finance in a Flash: Plain Talk, we continue our mini-series on unemployment data by diving into the latest report from the Bureau of Labor Statistics. Using February 2026 data, we break down what the unemployment rate actually measures, why headline job numbers can be misleading, and how key factors like labor force participation and population growth shape the broader economic picture.
On this episode of Finance in a Flash – Plain Talk, John and Dave kick off a three-part series breaking down one of the most talked-about economic topics: Unemployment. They start the series off discussing ADP Employment Report, explaining what it is, how it differs from government data, and why it often tells a slightly different story than the headlines you see on Friday mornings.
On this episode of Finance In A Flash, John interviews Beacon's newest team member, Isaac Elsasser. We really hope you enjoy this episode and get to know more about Isaac as he talks about his personal life, how he got into financial planning, and his time here at Beacon so far!
Whether you are an existing client or newly interested in Beacon, please view this short video to learn more about what we do.
If you’re an investor age 50 or older planning to make “catch-up” contributions to a retirement plan, 2026 brings several important changes to understand. These include updated contribution limits and a new mandatory Roth catch-up rule for high-income earners that could affect both your taxes and your take-home pay.
The IRS has announced contribution savings limits for retirement savings accounts for 2026. Make sure you let your payroll department know that you want to increase your contributions to these plans.
Here are several questions you should ask yourself to ensure you have taken the necessary precautions in the event something unforeseen should happen:
While scams can be tricky, there are several steps you can take to protect yourself and avoid falling victim to fraud.
It is always a good idea to periodically review your tax situation to identify opportunities to reduce your tax liability and strengthen your overall financial strategy. Proactive tax planning throughout the year can help ensure you are taking full advantage of available planning opportunities.
With so much at stake (your financial security!), it’s easy to become paralyzed by fear and anxiety when it comes to financial uncertainty.
One of the more useful provisions of the Secure Act 2.0 gives those who have unused 529 plan balances the option of rolling over funds with no tax implications into a Roth IRA. Here are the key rules for rolling over funds from a 529 plan to a Roth IRA.
Beacon is hiring for our Financial Advisor Associate Rotational Program!
Preparing financially for retirement often comes with uncertainty. There are countless “what if” scenarios to consider, and one of the biggest concerns for many is the potential cost of long-term care. An extended need for care can create a significant financial burden, making it important to plan ahead.
When someone asks how you are doing, how do you usually respond? More importantly, do you feel like you’re truly living your best life? Do you feel as though you are thriving?
Becoming overly concentrated in your portfolio adds an extra amount of risk. We monitor our portfolios for this and ensure that no one company will determine the ultimate success of our clients’ portfolios.
Retiring before age 65 can feel exciting, but it also raises an important question: how will you cover health insurance until Medicare begins? Fortunately, there are several paths to consider.
At Beacon Financial Strategies, we agree that investments that generate income should be a valuable component of most retiree’s portfolios. However, we also believe that maintaining a diversified investment approach will enhance returns and reduce risk for most long term investors. This really proves beneficial during the distribution phase of your life as it provides for income, growth, potential tax efficiency, and flexibility as life changes.
Join us for an informative session on the recently signed 2025 tax law and its impact on individuals and families. We’ll cover new provisions, changes to existing rules, and rules that are eliminated. This webinar will help you understand how the new law may affect your taxes and what that means for your financial planning moving forward.
Let’s face it, seniors today have access to improved medical care and are healthier, more active and are likely to have longer lives. So what are the financial implications for retirees who will likely live well into their 80s and possibly their 90s?
Employer-sponsored retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan, we would strongly recommend you consider participating.
The principles of efficiency, consistency, and composure bind swimming and financial success together. In both, it’s not about how hard you work, but how smartly you move forward.
On July 4th, 2025 the new tax and spending bill was signed into law. There are many changes/updates included in the new law from taxation and spending to national defense. While there are many opinions regarding the costs and benefits of the new law, we wanted to take time to outline the provisions that directly relate to our clients and their taxes.
Required Minimum Distributions (RMDs) have been around for many years. Over the past few years, updates have been made via Secure Act 1.0 and Secure Act 2.0 so we wanted to provide a reminder and update on how the current rule works.
