JM Wealth Management

03/18/2025

Ever wondered about the difference between revocable and irrevocable trusts? There may only be two letters difference between the two terms, but there’s a world of difference between these types of trusts.

Swipe through to see a brief overview of each trust ➡️ Looking for further help? Our legal team is here for all of your estate planning needs and to answer any questions you have. Reach out to our office anytime.

02/12/2025

📢 Important news regarding estate planning! The estate tax exemption is set to change in 2026 because of the sunsetting provisions in the Tax Cuts and Jobs Act (TCJA).

Though 2026 might feel like it's in the distant future, it's crucial to start planning now. These changes are significant, and even if Congress ultimately steps in to tweak or extend the current rules, preparing now is key.

Swipe through for the details on how this could affect you ↩️ Have questions? Feel free to reach out to our office. That’s what we’re here for.

01/09/2025

Do you have your bracket handy? No, we’re not talking about those of the sports variety!

Instead, we’re referring to 2025 tax brackets, an important aspect of your financial strategy for the year. Read the graphic to find your expected tax bracket, and feel free to save this post for future reference.

As always, if we can be of help, don’t hesitate to give the office a call.

12/30/2024

Today, we want to share important information on Social Security benefits in 2025. To help address rising living costs, the Social Security Administration has announced a 2.5% cost-of-living adjustment (COLA) for 2025. Swipe through for a quick look at what to expect.

Keep an eye out for your personalized COLA notice from the SSA in December. And as always, reach out with any questions or needs as the year comes to a close.

07/16/2024

It’s no longer 1978, when gas was an insane $0.63 per gallon! Inflation is on everyone’s mind right now, so I thought we’d share 5 ways to combat it:

✔️ TIPS: The principal of Treasury Inflation-Protected Securities increases with inflation and decreases with deflation. When a TIPS matures, you are paid the adjusted principal or original principal, whichever is greater.

✔️ Precious Metals Funds: The price of gold tends to increase during inflationary periods as the purchasing power of the dollar decreases. There are numerous precious metals funds that invest in gold, silver, platinum, and palladium.

✔️ Commodity Mutual Funds: Broadly speaking, the price of commodities tends to increase during periods of inflation. There are many mutual funds that invest in agricultural and energy commodities that can potentially benefit.

✔️ Equities / Equity Mutual Funds: Companies that are in inflationary-sensitive sectors like industrials and materials can potentially benefit in a higher inflation environment. There are specialty mutual funds that offer underlying equities within the fund’s portfolio.

✔️ Real Estate / REITs: Real Estate rentals and values tend to increase when prices do. REITs have attractive dividends that, according to Nareit, have outpaced inflation as measured by the Consumer Price Index in all but two of the last twenty years.

Feel free to share these tips with your friends and family! We could all use help riding out inflation.

05/14/2024

Are you on track for a comfortable retirement? It's time to rethink the old $1 million savings goal and adapt to today's economic realities. Here are three key points to consider:

🌍 Location Matters: Your retirement destination can greatly affect how long your savings last. For example, $1 million could last about 22.7 years in Mississippi, around 19.8 years in North Carolina, but just over a decade in Hawaii. With average retirement lengths of 18.6 years for men and 21.3 for women, choosing the right location is crucial.

🤔 Define “Comfortable”: What does a comfortable retirement mean to you? A serene life in a small town or an adventurous journey around the globe? Your vision of retirement significantly influences your financial needs.

💰 Stay Consistent: Whether retirement is just around the corner or years away, regular contributions to your savings, no matter how small, can make a big difference over time.

With proper planning and expert advice, you can tailor your investments to fit your retirement dreams. Unsure if your current plan is on track? We’re here to help refine your strategy. Reach out for a chat – let's make your golden years truly golden!

04/23/2024

04/17/2024

Does the word “beneficiaries” have you saying, “bena-who?” Good news–this post is for you 👀 (We promise we didn’t intend for that to rhyme)

Here are four fast facts about this important part of estate planning:

1️⃣ A beneficiary is the person, people, or entity/entities you name to inherit what you leave behind.
2️⃣ Beneficiaries don’t have to be people. Many wills and trusts name charities or organizations as beneficiaries.
3️⃣ Good questions to ask include: Does anyone depend on you financially? Are you married? Do you have children? All of these may influence your beneficiary choices.
4️⃣ Keep in mind that for some assets, there are two types. A primary beneficiary is the person first in line to receive the benefit. A contingent beneficiary is a backup if your primary beneficiary is no longer alive.

Got questions? Drop them in the comments or give us a call. We’re here to help.

01/16/2024

Attention everyone!

Exciting news! The new 2024 tax rates have just been released!

Looking for the latest tax rates? Look no further! Visit jimwealth.com to access all the information you need.

Don't miss out on this valuable resource!

For any questions or assistance, feel free to reach out to me directly at jimwealth.com. I'm here to help you navigate through the new tax landscape.

12/20/2023

Wishing you a joyful holiday season and a prosperous New Year! 🌟

As the year draws to a close, we extend our warmest wishes for a peaceful and happy holiday season. We hope your season is filled with happiness and quality time with loved ones.

Have any fun plans this holiday season? We would love to hear them - share in the comments below ⬇️

11/22/2023

This Thanksgiving, we're thankful for amazing clients like you! As you enjoy time with loved ones, remember how grateful we are for your trust and support 🙌 Happy Thanksgiving from our team! 🦃

Please note our office will be closed on Nov 23-24. We'll be back on Nov 27 to assist you!

What’s your favorite part about Thanksgiving? Let us know in the comments ⬇️