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Transitioning to Medicare from Private Health Insurance Plans
Transitioning from Private Health Insurance Plans to MedicareAs you approach retirement age, you may be anticipating transitioning from your private insurance to Medicare, which is a federal health insurance program that provides...
Read MoreTips for Raising Financially Literate Children
Every parent wants the best for their children and strives to prepare them to lead a happy, healthy, and successful life. But, despite understanding the importance of financial responsibility, only 28 percent of parents speak to their...
Read MoreYour Tax Records - Keep 'Em or Shred 'Em?
In general, as this article from Forbes suggests, you need to keep your records for 3 years from the date you filed your tax return. So, for example, if you filed your 2019 tax return on April 1st of 2020, you can dispose of your...
Read MoreWhat Is the Sequence-of-Return Risk and How Can Retirees Mitigate Its Effects?
With the possibility of a recession looming, it's natural for those nearing or in retirement to have concerns over their long-term strategies. After decades of accumulating a portfolio, the last thing retirees want is for a market...
Read MoreDo you hold more cash than you need?
According to the Investment Company Institute, near the end of 2022, there was more than $4.7 trillion in cash sitting in U.S. money market funds.1,2While cash can play a role in a diversified portfolio, historically, cash has not kept...
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Five Ways to Recognize Good Financial Advice
In a recent Washington Post story, columnist Liz Weston describes, “What good financial advice looks like.” Her article begins, “Good financial advice can help you achieve your life goals. Bad financial advice...
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Trustees Should Consider Making Distributions With the 65 Day Rule
Trust distributions utilizing the “65 Day Rule” allows a trustee to elect to make a trust distribution which can reduce the combined tax liability of a trust and its beneficiary.
Read MoreSenior Fraud: How to Identify 7 Common Scams Targeting Seniors
When you've worked hard to build your retirement savings, you want to ensure you're taking every preventative measure to protect it. Unfortunately, more and more fraudsters and scammers are weaseling their way into the lives of seniors...
Read MoreWinter 2023 Commentary and Outlook
The fourth quarter saw the market bounce back following negative returns in the first three quarters of the year. At its worst in October, the S&P 500 had fallen more than -25% from its January peak. For the year, the index...
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Consider making adjustments for the New Year
If you are working and receiving a paycheck, among the many new year's resolutions you should make are the following:Review your payroll withholding to determine that it properly reflects your current tax circumstances. This way, you...
Read MoreLifetime Estate & Gift Tax Exemption Updates for 2023
In October 2022, the Internal Revenue Service (IRS) announced tax changes for 2023 — changes primarily driven, in part, by the current inflationary environment. For affluent couples or individuals interested in transferring...
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Pay your property taxes in installments
If you are over 65 and live in Harris County, there is a simple way to pay your property taxes in installments.Homeowner’s property taxes are a large annual payment for many people. You might find these payments a little...
Read MoreThe Challenge of Raising Non-Materialistic Kids
In today’s social media-obsessed world full of popular “influencers” targeting teens, pre-teens, and even younger groups, instilling values in your children and grandchildren about what really matters in life is more...
Read MoreContribution Limit Increases for 2023: Just What We Wanted to Hear
In late October, the IRS announced that it is increasing contribution limits to retirement savings accounts in 2023. The changes, like many you are seeing, are a direct result of months of high inflation and financial uncertainty, some...
Read MoreYear-End Financial Strategies
The year is almost over, and it has certainly been a bumpy one for the financial markets and our economy. As financial professionals, we work with families to design investment strategies that help them pursue their goals for education...
Read MoreCount Your Blessings
With a spirit of deep gratitude, we will spend this Thanksgiving reflecting upon all the blessings the past twenty-two years have held for us here at Horizon Wealth Advisors. While we remain focused on our business and our fiduciary...
Read MoreCharitable Giving Strategies for 2022
Key points:Over the past five years, affluent Americans increased their donations to charity by 48%.1Understand various strategies to help you maximize the impact of your charitable donations and your income tax savings.To qualify for...
Read MoreHow Does the Inflation Reduction Act Impact Healthcare? A Guide During Open Enrollment Season
Key points:One of the biggest components of the Inflation Reduction Act is the changes to healthcare costs and coverage. The Inflation Reduction Act requires all pharmaceutical companies to rebate Medicare participants for the...
Read MoreIt's Cybersecurity Awareness Month: 7 Steps to Protect Yourself
Over 50% of consumers have fallen victim to a cybercrime, with a third of those attacks taking place in the past year alone. So there are 263 million American consumers. 131.5 million have been hit by cybercrime, with 44 million...
Read MoreFall 2022 Market Commentary and Outlook
The third quarter saw markets continue downward after declines in the first two quarters. For the year thus far, the S&P 500 has lost –23.9%. Losses were widespread among most major asset classes. Small cap stocks, as measured by...
Read MoreWill Your Social Security Check Be Taxed?
Most people are used to having a percentage of their paycheck withheld for Social Security. The withholding rate in 2022 stands at 6.2% for individuals and another 6.2% for their employers, for a total of 12.4% per person.1 But...
Read MoreWill Your Social Security Check Be Taxed?
Most people are used to having a portion of their paycheck withheld for Social Security during their working years. But not everyone realizes that their retirement benefits could still be subject to income taxes—especially if...
Read More10 Mistakes That Can Derail Your Financial Strategy
We all make mistakes. The key is to learn from them and try not to repeat them. Financial mistakes can be particularly costly and can have long-term implications. Throughout my career, I’ve witnessed plenty of missteps and...
Read MoreHow High Can the Cost of College Go?
It’s officially back-to-school season for millions of parents around the country. And whether you’re moving your college freshmen into their first dorm or sending little ones off to the bus stop, there’s one thing...
Read MoreTruths About Life Insurance that Will Inspire You to Get Coverage
Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy...
Read MoreHealthcare Costs Are Rising – Do You Have a Strategy for Retirement?
It seems like the cost of everything is going up, especially when it comes to the cost of healthcare. For those nearing or in retirement, these increases can have a big impact on retirement income and warrant developing a solid...
Read MoreInflation & What the Fed is Doing to Fight It
Inflation remains top of mind for everyone, especially as news outlets continue reporting on climbing prices and volatility in the markets.All eyes have fallen on the Fed in 2022, as they face the task of attempting to manage inflation...
Read MoreInflation & What the Fed is Doing to Fight It
Inflation remains top of mind for everyone, especially as news outlets continue reporting on climbing prices and volatility in the markets.All eyes have fallen on the Fed in 2022, as they face the task of attempting to manage inflation...
Read MoreHow will the student loan debt forgiveness plan impact you?
You may have heard by now that President Joe Biden announced his long-anticipated plan to cancel some student loan debt for eligible American borrowers after months of anticipation and pressure. Considering that 45.5 Million Americans...
Read MoreHow will the student loan debt forgiveness plan impact you?
You may have heard by now that President Joe Biden announced his long-anticipated plan to cancel some student loan debt for eligible American borrowers after months of anticipation and pressure. Considering that 45.5 Million Americans...
Read MoreHow Does the Inflation Reduction Act Impact You?
You may have heard by now that the Inflation Reduction Act was signed into law on August 16. This historic piece of legislation addresses a number of areas. Chances are, you or your business may be directly impacted. Here are a...
Read MoreHow Does the Inflation Reduction Act Impact You?
You may have heard by now that the Inflation Reduction Act was signed into law on August 16. This historic piece of legislation addresses a number of areas. Chances are, you or your business may be directly impacted. Here are a...
Read MoreIs Now a Good Time for a Roth IRA Conversion?
Is Now a Good Time for a Roth IRA Conversion?We know that taxes are one of life’s two inevitables. So, the question is not if you will pay taxes on your retirement accounts, but when and how much. That’s where Roth IRAs...
Read MoreSummer 2022 Market Commentary and Outlook
The second quarter saw negative market returns accelerate downward from declines in the first quarter. For the year, thus far, the S&P 500 has lost -20.0%, which is the largest first half loss for the large cap index since 1970...
Read MoreKeeping the faith when riding out a Bear Market
One of the most difficult exercises for long term investors is staying the course in the face of sizable market declines. Owen wrote an excellent article just last month on the market’s activity since the beginning of the year...
Read MoreThoughts from our Director of Investments, Owen Murray, on this year’s market activity.
2022 has been a far cry from the positive and mostly smooth market of recent years. A sudden negative shift in January has accelerated downward as the year has progressed. The S&P 500 has officially entered a “bear market,”...
Read MoreSpring 2022 Commentary
Following 2021, which delivered impressive gains and calm markets, 2022 has been turbulent and mostly negative. The market was very volatile in the first quarter and losses have been widespread. The market began the year with a decline...
Read MoreHow to Respond to Russia’s Invasion of Ukraine
2022 has gotten off to a very rocky start. January saw markets decline in reaction to a cocktail of concerns, namely the fast-spreading Omicron variant of COVID, rising inflation, and a much more hawkish shift in policy expectations...
Read MoreEmployee Spotlight Series: Featuring Partner and President Larry Maddox
At Horizon Wealth Advisors, we are committed to helping our clients through a proactive and tailored approach. As part of our fiduciary commitment, we always put our clients first by working to gain a deep understanding of each client...
Read MoreWinter 2022 Commentary
OutlookThe quarter began with the S&P 500 returning 7.0% for the month of October. November began positive, but a mid‐month reversal saw the index fall ‐0.7% for the month. Then, in what has become a normal seesaw fashion,...
Read More2022 Contribution Limits for IRAs and Retirement Plans
New inflation-adjusted limits for 2022 IRA and retirement plan contributions have been released by the IRS. Contribution limits have risen slightly for 2022, and income thresholds have increased as well. If you want to begin planning...
Read MoreFall 2021 Commentary
OutlookThe quarter began strong with the continuation of the torrid market rally that began last spring. July posted a positive return for the S&P 500 of 2.4%. August followed with an even stronger 3.0% gain. September, however, saw...
Read MoreEmployee Spotlight Series: Featuring Financial Planning Director Colin Lee
At Horizon Wealth Advisors, we are committed to helping our clients through a proactive and tailored approach. As part of our fiduciary commitment, we always put our clients first by working to gain a deep understanding of each client...
Read MoreSummer 2021 Commentary
OutlookThe second quarter continued the terrific rally that began over a year ago. As COVID-19 cases and deaths continue to plummet, the reopening of the economy and rapid return to normal shows no signs of slowing. For the year, the...
Read MoreFinancial Fragmentation Series – Part 3: How to Avoid or Minimize Financial Fragmentation
This is the final post in our Financial Fragmentation blog series. To view the previous post in this series, please see here.Reviewing your financial plans and goals on a regular basis is especially important for successful financial...
Read MoreFinancial Fragmentation Series – Part 2: What Are the Consequences of Financial Fragmentation?
This post is part of our Financial Fragmentation blog series. To view the first post in the series, please see here.One of the most important functions of financial planning is to avoid making a big mistake. To continue our Financial...
Read MoreFinancial Fragmentation Series – Part 1: Is Your Planning Affected by Financial Fragmentation?
The term financial fragmentation suggests a lack of coordination among your various financial arrangements. Financial fragmentation occurs when financial strategies are not properly coordinated with one another and are not properly...
Read MoreEmployee Spotlight Series: Featuring Client Specialist Jackie Thomas
At Horizon Wealth Advisors, we are committed to helping our clients through a proactive and tailored approach. As part of our fiduciary commitment, we always put our clients first by working to gain a deep understanding of each client...
Read MoreEmployee Spotlight Series: Featuring Partner and Director of Investments Owen Murray
At Horizon Wealth Advisors, we are committed to helping our clients through a proactive and tailored approach. As part of our fiduciary commitment, we always put our clients first by working to gain a deep understanding of each client...
Read MoreNew SEC Rule Requires Form CRS by June 30th
Form CRS Describes “Best Interest”Despite being labelled the “Best Interests Rule”, the final SEC rule does little to reduce the confusion over whether or not your advisor is working in your best interests. In...
Read MoreA Message for Millennials: Don’t Give Up Hope!
Planning Your Financial Future Can Start NowDiscussions surrounding young adults’ prospects for retirement are trending in recent news. Young professionals have gathered online to communally air their current financial grievances...
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