Broker Check


At Modern Wealth Management we love reading and learning new things!  Below are some articles and posts we thought you would enjoy!

Wednesday, October 25, 2023

In 2023, only 64% of workers were at least somewhat confident that they would have enough money to live comfortably in retirement, a significant drop from 73% in 2022.

Wednesday, October 18, 2023

In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024.

Wednesday, October 11, 2023

There is no magic formula to determine how much you or your child should borrow for college. But how much is too much?

Monday, October 9, 2023

The Inflation Reduction Act of 2022 included provisions intended to lower prescription drug costs for Medicare enrollees and slow drug spending by the federal government.

Thursday, October 5, 2023

A special needs trust, also known as a supplemental needs trust, is established to provide a source of financial support to a beneficiary with a disability without the beneficiary losing eligibility for certain government-sponsored programs

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Wednesday, September 27, 2023

As 2023 winds down, consider going a few steps further and preparing for a yearly check-in with your financial advisor to start 2024 with your money matters in good shape.

Wednesday, September 27, 2023

In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.

Wednesday, September 20, 2023

When considering making energy-saving home improvements, it may be helpful to have a home energy audit done. Fortunately, there is a federal income tax credit available equal to 30% of the amount paid for home energy audits, up to $150 per

Wednesday, September 13, 2023

New types of services are rolling out every day, which is just one reason why subscription costs can creep up on you. But with inflation cutting into your purchasing power, getting rid of a few unnecessary recurring charges could help balan

Friday, September 8, 2023

The Department of Education recently launched the most generous federal student loan income-driven repayment (IDR) plan to date — the Saving on a Valuable Education (SAVE) Plan.

Wednesday, September 6, 2023

Economists have been predicting a recession for the U.S. economy ever since the Federal Reserve began aggressively raising interest rates in 2022. This is Econ 101. High interest rates, which make it more expensive to borrow, are...

Friday, August 11, 2023

Private companies that offer Part D coverage are allowed to design their own benefit plans, as long as the overall value of the plan is at least as good as the basic plan outlined in the 2003 Medicare Act.

Wednesday, August 9, 2023

A Medicare Part C (Medicare Advantage) plan is offered by a private company that contracts with Medicare to provide Part A and Part B benefits and may offer coverage for additional services.

Friday, August 4, 2023

Medicare Part B is the medical insurance portion of Medicare, which covers physician services, outpatient hospital care, and many other services typically covered under health insurance plans.

Wednesday, August 2, 2023

If you're covered by Medicare, here's some welcome news — Medicare drug coverage can help you handle the rising cost of prescriptions. If you're covered by Original Medicare, some Medicare Cost Plans, Medicare Private Fee-For-Service Plans,

Monday, July 31, 2023

Will Medicare alone be enough to cover my health-care needs in retirement?

Friday, July 28, 2023

ssume you are a car owner or are about to be one. You're concerned about who will pay your medical bills if you have an accident. You have a personal auto policy (PAP). The "med pay" portion of your PAP pays the medical expenses.

Wednesday, July 26, 2023

Medicaid may pay for your mother's nursing home care, but only if your mother is both medically and financially eligible for benefits.

Monday, July 24, 2023

You have several choices:Return to the original fee-for-service Medicare planSupplement your fee-for-service Medicare plan with a Medigap policyEnroll in another Medicare Advantage managed care plan if one is available in your areaThe...

Friday, July 21, 2023

Even if you plan on waiting until full retirement age or later to receive Social Security retirement benefits, consider signing up for Medicare.

Wednesday, July 19, 2023

Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition, and some younger people with disabilities or certain health conditions.

Monday, July 17, 2023

Is prescription drug coverage part of my medical coverage?

Friday, July 14, 2023

If you've lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It's important to understand your options.

Wednesday, July 12, 2023

The Federal Insurance Contributions Act (FICA) applies a social security tax and Medicare tax to earned income. The Medicare portion of the FICA tax is 2.9 percent. There are two other Medicare taxes that apply to incomes.

Monday, July 10, 2023

Will short-term health insurance cover all my medical expenses?

Friday, July 7, 2023

If you’re age 65 or older, Medicare is likely a key component of your health care coverage. So, it’s important to be aware of upcoming changes to Medicare premiums, as well as how Part B premiums tie into the social security cost-of-living

Wednesday, July 5, 2023

It’s a few months before you turn 65. You check the mail and find the box overflowing with materials from companies discussing Medicare enrollment, Medicare Advantage plans, and other pharmacy-related plans.

Monday, July 3, 2023

Is dental care covered under Medigap insurance?

Saturday, July 1, 2023

MedicareMedigapMedicaidWhat is it?Federal health insurance program for those age 65 or older or younger people who have certain health conditions.Parts A and B comprise the original Medicare program.Medicare Advantage (also referred to...

Friday, June 30, 2023

Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult.

Wednesday, June 28, 2023

Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be. Once you're participating

Saturday, June 24, 2023

As a business owner, you're going to have to decide when will be the right time to step out of the family business and how you'll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one wil

Thursday, June 22, 2023

Divorce can be a lengthy process that may strain your finances and leave you feeling out of control. But with the right preparation, you can protect your interests, take charge of your future, and save yourself time and money.

Saturday, June 17, 2023

You've got a great group working for you now, and business is good. You know that much of that success is due to one or two key people with both skills and personalities that are hard to match. Suppose they were injured and out of work for

Wednesday, June 14, 2023

In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan to a...

Friday, June 9, 2023

Starting in 2023, a personal or general business tax credit of up to $7,500 is available for the purchase of new clean vehicles meeting certain requirements (including electric, plug-in hybrid, and fuel cell vehicles). A credit of $3...

Wednesday, June 7, 2023

The use of mobile payment apps and person-to-person (P2P) payments are more popular than ever, giving businesses and consumers the ability to send and receive money instantly. According to a recent study, the share of P2P payments made...

Friday, June 2, 2023

A March 2023 survey found that more than 90% of Americans worry about the Social Security program, and about half of those said they worry a great deal.1 A separate survey the same month found that more than 80% of Americans worry...

Tuesday, May 30, 2023

Coaching DecisionConsider Working with Your Plan Advisor to Help Improve Your Financial HealthYour 401(k) plan’s advisor helps your employer manage your company’s retirement plan. They help select and monitor investment...

Friday, May 26, 2023

After almost three years of proposals and discussions, SECURE 2.0 became law at the end of 2022. It builds on the retirement savings policy initiatives addressed in the SECURE Act of 2019, which are intended to help workers achieve a financ

Friday, May 26, 2023

According to the Society for Human Resource Management’s 2022 Employee Benefits Survey3 (based on responses from 3,129 human resource professionals across the U.S.), only about one-half of plans automatically enroll new or existing employee

Wednesday, May 24, 2023

You’ve put in the hard work of saving for college, and now it’s time to start using those 529 plan assets to help with a family member’s education-related costs. But before you begin withdrawing those funds,...

Friday, May 19, 2023

A special needs trust, also known as a supplemental needs trust, is established to provide a source of financial support to a beneficiary with a disability without the beneficiary losing eligibility for certain government-sponsored programs

Wednesday, May 17, 2023

A 529 plan is a tax-advantaged account designed to help families save for a beneficiary’s educational expenses. The rules for such plans—formally known as qualified tuition programs—are defined in Section 529 of the...

Friday, May 12, 2023

Although you may personally handle many of your financial affairs, sometimes you may need the services of a financial professional. Financial professionals include financial planners, attorneys, securities brokers, and other...

Wednesday, May 10, 2023

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That's where financial planning...

Monday, May 8, 2023

A CERTIFIED FINANCIAL PLANNER™ professional, or CFP® practitioner, is a financial professional who meets the requirements established by the Certified Financial Planner Board of Standards, Inc. While some professionals may...

Friday, May 5, 2023

Caring for aging parents can be a difficult planning aspect to balance. If you are among the “sandwich generation,” you may be trying to support your aging parents as well as your own children.

Wednesday, May 3, 2023

The U.S. Department of Veterans Affairs (VA) oversees two separate agencies: the Veterans Health Administration and the Veterans Benefits Administration.

Friday, April 28, 2023

Designating a beneficiary on retirement accounts is one of the most important—yet one of the most frequently neglected—retirement planning tasks. A beneficiary is any person or entity that an account owner chooses to...

Wednesday, April 26, 2023

Retirement planning is the process of evaluating your current financial standing and creating a strategy for helping you achieve your desired retirement lifestyle. It's about matching goals with financial realities, with a focus on...

Friday, April 21, 2023

One of your most important duties as a retirement plan sponsor is to ensure that your plan is compliant with legal requirements—and it’s no easy task. The Employee Retirement Income Security Act (ERISA) and the Internal...

Wednesday, April 19, 2023

Email scams may be responsible for many data breaches you hear about on the news, but there are also risks associated with simple online activities that most of us engage in daily. We routinely send andreceive email and instant...

Friday, April 14, 2023

Likee many people, you might believe that your identity could never be stolen. Then, one day, you go to the mailbox, open your monthly credit card statement, and see a host of charges made to your account in a country you’ve...

Friday, April 7, 2023

If you are age 50 or older and still working, you have a valuable opportunity to super-charge your retirement savings while managing your income tax liability. Catch-up contributions offer the chance to invest amounts over and above...

Wednesday, April 5, 2023

Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility —...

Monday, April 3, 2023

The company behind the scenes of every trade and statementFidelity InstitutionalSM* provides clearing, custody, and other brokerage services to Commonwealth Financial Network® through National Financial Services LLC (NFS) or...

Friday, March 31, 2023

The arrival of spring is always a good time to dust off the cobwebs that have built up in your home during the winter. It's also a good time to clean out and organize your financial records so you can quickly locate something if you...

Wednesday, March 29, 2023

College students and parents deserve all the help they can get when paying for college or repaying student loans. If you're in this situation, here are three federal tax benefits that might help put a few more dollars back in your...

Friday, March 24, 2023

Wednesday, March 22, 2023

If you fail to estimate your federal income tax withholding properly, it may cost you in a variety of ways. If you receive an income tax refund, it essentially means that you provided the IRS with an interest-free loan during the year....

Tuesday, March 21, 2023

Logic and emotion have never been a perfect pairing. It is logical for investors to stay focused on their long‑term goals during volatile markets, but emotionally it is very difficult to follow this reasoning.Emotional instincts,...