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# Ballast

Financial Advisor, Lexington, KY | Financial Planning

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## Posts

- [A History of the Individual Income Tax in America](https://ballastplan.com/a-history-of-the-individual-income-tax-in-america/) - The history of income tax in America reveals a fascinating story of economic policy, war financing, and evolving government revenue strategies. From President Lincoln's first income tax in 1862 to the Tax Cuts and Jobs Act of 2017, federal tax rates have ranged from as low as 1% to as high as 94%. Understanding this
- [Managing a Household Allocation](https://ballastplan.com/managing-a-household-allocation-2/) - One of our mantras in planning is to “Know What You Own.” Peter Lynch popularized this term during his management of a Fidelity mutual fund in the 1980’s, and we think it applies to more than just investments. Your home, your health insurance, your business, and yes, your investments each have features, risks, and opportunities
- [The Hidden Benefits of Saving Early in Life](https://ballastplan.com/the-hidden-benefits-of-saving-early-in-life/) - We’re all aware that saving for retirement is not a strong suit for many Americans. There is no end to the alarming statistics regarding our lack of preparedness for when it’s finally time to call it a day. The most recent head-scratcher I came across was a survey conducted by J.P. Morgan Asset Management and
- [Markets Finally Believe Fed is Serious about Inflation](https://ballastplan.com/markets-finally-believe-fed-is-serious-about-inflation/) - The Fed raised rates 0.75% last week, the biggest single move since 1994 Market participants imply that rates will move from 1.75% to 3.56% by year-end Perception of a hawkish Fed may help avoid a wage-price spiral & severe recession Last week the Federal Reserve raised rates by 0.75% or 75 basis points (bps).
- [How Much Cash Should I Hold?](https://ballastplan.com/how-much-cash-should-i-hold/) - Long-term portfolio performance is highly correlated to overall risk and time at risk. Maintaining ample cash lets you weather the volatility of portfolio risk.
- [Optimizing Required Minimum Distributions](https://ballastplan.com/optimizing-required-minimum-distributions/) - Key Takeaways The IRS made a retiree-friendly tweak to its RMD schedule for 2022 When to best take retirement distributions can be opposite for two similar investors Engage Us: We do our best work when we know your updated situation We’re only a week into 2022 and I have already spent a few
- [Tax Management in Bull Markets](https://ballastplan.com/tax-management-in-bull-markets/) - How do we manage accounts when everything is up? With cooperative markets, many investors have accumulated substantial capital gains in their investment accounts. We analyze the trade-off between ideal allocation & paying tax to achieve it. In general, we advocate paying tax along the way to avoid over-concentration. When I was growing up, my granddad
- [Planning Opportunities with SECURE Act 2.0](https://ballastplan.com/planning-opportunities-with-secure-act-2-0/) - SECURE Act 2.0 is good for retirement savers. Key Takeaways: RMD Age Delayed from 72 to 73, then 75 for those born in 1960 & later Expanded Roth savings opportunities Expanded savings opportunities, especially for pre-retirees It’s becoming a holiday tradition. On the morning of Christmas eve, I sat down to a cup
- [The Ballast Roth Manifesto: Why We Believe Roth is for the 99% AND the 1%](https://ballastplan.com/the-ballast-roth-manifesto-why-we-believe-roth-is-for-the-99-and-the-1/) - TYPICAL ADVICE: Roth is for low-income earners, high earners should maximize tax deductions BALLAST ADVICE: Almost every household can utilize Roth
- [The Inverted Yield Curve of April 2022](https://ballastplan.com/the-inverted-yield-curve-of-april-2022/) - Key Takeaways: The 2-year/10-year yield curve inverted for the first time since 2019. This type of inversion has preceded the last eight recessions. Proper portfolio allocation can help insulate investors from the negative outcomes of recessions.  Three years ago today, on April 4, 2019, I wrote about the Inverted Yield Curve
- [Social Security: Whether to Wait to Start Taking Retirement Benefits](https://ballastplan.com/social-security-whether-to-wait-to-start-taking-retirement-benefits/) - An important phrase of Social Security benefits is “Full Retirement Age,” determined by birth year, and it's when you can take 100% of your retirement benefits.
- [The Driving Forces Behind the Closely Watched Consumer Price Index (CPI)](https://ballastplan.com/the-driving-forces-behind-the-closely-watched-consumer-price-index-cpi/) - CPI is the average change in the prices paid by consumers for a basket of goods and services over time that demonstrates price trends within the economy.
- [Stock Market Bubbles are Inevitable – Are You Prepared for the Next Burst?](https://ballastplan.com/stock-market-bubbles-are-inevitable-are-you-prepared-for-the-next-burst/) - In addition to this commentary, we would like to extend an invitation for you to join us on a live video feed where we will discuss the attached article and answer any questions in real-time. Watch the video discussion about this article here. It was our second week of remote work, COVID-19 had just
- [2022 Market Recap and 2023 Outlook](https://ballastplan.com/2022-market-recap-and-2023-outlook/) - Topics include: recent economic data, market volatility on trading days, inflation and housing, consumer behaviors and spending, are we in a recession?
- [Market Volatility & Behavior Financeam i](https://ballastplan.com/market-volatility-behavior-finance/) - If you feel like the stock market has been all over the place recently, there is some merit behind the feeling. So far, during 2022 we have experienced 41 days where the S&P 500 has returned greater than a +/- 1% return. This represents approximately half of the trading days of the year so
- [Alternative Uses of Social Security Income](https://ballastplan.com/alternative-uses-of-social-security-income/) - To take Social Security before age 70, the financial and non-financial benefits of claiming Social Security early should outweigh the benefits of deferral.
- [Educating Your Next Generation](https://ballastplan.com/educating-your-next-generation/) - What do my children need to know about my estate plan? My investments? We work with our client’s other professional advisors – and their heirs as well.
- [June Market Update](https://ballastplan.com/june-market-update/) - John Boardman and Andy consider common questions and share thoughts on the cyclical market, inflation, portfolio management, raised rates, and economic outlook.
- [October Market Update](https://ballastplan.com/october-market-update/) - John Boardman and Andy Reynolds discuss some of the factors at play in this market environment, how we address those as an advisory firm, and economic outlooks.
- [Mid-Year Market Update with John, Andy, and Brian](https://ballastplan.com/mid-year-market-update-with-john-andy-and-brian/) - John Boardman, Andy Reynolds, and Brian Burton discuss the current market environment, conversations they've been having with clients, and trends they're seeing
- [The Importance of Asset Allocation and Diversification](https://ballastplan.com/the-importance-of-asset-allocation-and-diversification/) - Not only has recent market volatility resulted in renewed anxiety for many investors, it has also been a stern reminder of the value of having a proper mix of assets in your portfolio. The concepts of asset allocation and diversification can be traced all the way back to a 4th century text, the Babylonian Talmud, which
- [Ballast Bloopers 2022](https://ballastplan.com/ballast-bloopers-2022/) - We thank you for your trust in us and are eager to continue to help you reach your financial goals in 2023. Enjoy this behind-the-scenes look at our advisors.
- [Cash Flow – The “B” Word](https://ballastplan.com/cash-flow-the-b-word/) - Creating a budget is a necessary step in creating a solid financial plan. Budgeting can simplify your finances and make it easier to help you reach your goals.
- [The Investor Taxation Lifecycle](https://ballastplan.com/the-investor-taxation-lifecycle/) - The financial tax plan should address today’s tax picture, anticipate the likely tax picture in the future, and take into consideration the entire tax lifecycle
- [When Too Much Tax Deferral Becomes Counterproductive](https://ballastplan.com/when-too-much-tax-deferral-becomes-counterproductive/) - It's often recommended to defer as much income as possible to be properly prepared for retirement. Most of these strategies involve only qualified deferrals.
- [College Savings Vehicles](https://ballastplan.com/college-savings-vehicles/) - So often in life and in financial planning, perfect can be the enemy of good. This is certainly the case when it comes to saving for college. There are many ways to go about it, but the most important choice is the choice to begin saving. Nonetheless, we often meet parents of five- and ten-year-old
- [Cash Flow Planning and Long Term Care](https://ballastplan.com/cash-flow-planning-and-long-term-care/) - Most people think about how much they have saved to cover future Long Term Care, we believe planning around future cash flow to be most effective
- [Some Perspective on the Fed's Latest Meeting](https://ballastplan.com/some-perspective-on-the-feds-latest-meeting/) - Key Takeaways With ongoing inflationary pressures and a continued decline in the unemployment rate, the Fed appears ready to pick up the pace of normalizing monetary policy. The Fed confirmed that at this point they plan to raise the fed funds rate at the March meeting but reiterated that the pace and frequency of rate
- [Corporate Strategy: Trick or Treat?](https://ballastplan.com/corporate-strategy-trick-or-treat/) - Corporate strategies and what their actions mean for the future of their firm. Some actions include layoffs, expenditures, stock buybacks, and dividends.
- [Artificial Intelligence Wrote this Commentary in 5 Minutes](https://ballastplan.com/artificial-intelligence-wrote-this-commentary-in-5-minutes/) - Artificial Intelligence and Machine Learning will Improve Productivity - Tools are Publicly Available - Workers and Companies Must Adapt to New Technology
- [December Market Update 2022](https://ballastplan.com/december-market-update-2022/) - Advisors provide a market update & economic environment discussion. Listen as they share current market conditions, financial planning strategies, and updates.
- [Cash Flow Planning](https://ballastplan.com/cashflowplanning/) - Cash flow planning is perhaps the most fundamental building block of financial planning. It's a matter of day-to-day or month-to-month financial management.
- [Pre-RMD & Social Security Roth Conversions](https://ballastplan.com/pre-rmd-social-security-roth-conversions/) - Roth conversions should be considered if retired and under 70. Early retirement income tax planning may present significant long-term benefits for generations.
- [Social Security Income: Not-So-Simple Basics](https://ballastplan.com/social-security-income-not-so-simple-basics/) - The SSA projects three retirement periods; Full Retirement (66-67), earliest eligible age (62), and the age at which benefits no longer accrue higher (70).
- [The Federal Reserve FINALLY Raises Rates](https://ballastplan.com/the-federal-reserve-finally-raises-rates/) - Key Takeaways: Last week, the Federal Reserve raised the Federal Funds Rate by 0.25%. The Federal Reserve is projecting several more rate increases in 2022. The Federal Reserve is confident in a strong US economy and the ability for the economy to withstand higher interest rates. Last week the Federal Reserve raised interest
- [Balancing Saving and Giving](https://ballastplan.com/balancing-saving-and-giving/) - Most of our clients aspire to be financially self-sufficient. As those clients age, we notice some amount of transition into wanting to benefit others with accumulated resources. This giving can range from donations to charities of interest to paying for a grandchild’s education to helping a friend in need. We have been fortunate since the
- [(With Perspective) There Is Good in This Selloff](https://ballastplan.com/with-perspective-there-is-good-in-this-selloff/) - From a historical perspective, we believe the developments in this environment are constructive to a healthier economic and market environment in the future
- [Diworsification – Can You Take Diversification Too Far?](https://ballastplan.com/diworsification-can-you-take-diversification-too-far/) - Diversification can be overdone – there is a point where adding another investment to your portfolio can be harmful to the risk/return profile.
- [Fighting Inflation – Why This Time Feels Different and Could Actually Be Successful](https://ballastplan.com/fighting-inflation-why-this-time-feels-different-and-could-actually-be-successful/) - Only once since 1961, the central bank has set out on a course of interest rate hikes to rein in inflation has it been successful.
- [After a Historic Boom in Venture Capital, the Well Appears to be Running Dry](https://ballastplan.com/after-a-historic-boom-in-venture-capital-the-well-appears-to-be-running-dry/) - Cash-burning startups are taking on increasing debt as VC funding dries up. Fundamentals and profitability should return to the forefront of company evaluation.
- [Should Business Owners Raise Their Salary to Earn More Social Security?](https://ballastplan.com/should-business-owners-raise-their-salary-to-earn-more-social-security/) - How is Social Security Calculated? Increasing owner salary raises payroll tax liability but also increases future Social Security benefits.
- [Open Enrollment Period](https://ballastplan.com/open-enrollment-period/) - For those in the open enrollment period for health insurance, it may be better to choose a High Deductible or HSA Eligible plan.
- [Counteract Inflation with Your Financial Assets](https://ballastplan.com/counteract-inflation-with-your-financial-assets/) - Key Takeaways Inflation in October 2021 was 6.2%, the highest in nearly 30-years. From 1914 to 2021, average inflation in the U.S. has been around 3.2% and the average return of the market (i.e., S&P 500) has been around 10-11%. While not without risks, investing in equities is a tested long-term hedge against inflation.
- [Fed Rates, Inflation, Yields](https://ballastplan.com/fed-rates-inflation-yields/) - The Fed has a dual mandate: maximum employment + price stability. When unemployment is high, the Fed will lower rates to spur economic growth and increase jobs.
- [August 2022 Market Update](https://ballastplan.com/august-2022-market-update/) - John Boardman, Andy Reynolds, and Cameron Hamilton discuss the current economic environment, market, inflation, consumer confidence, recession, and outlook.
- [Retirement Saving Myths and Misconceptions](https://ballastplan.com/retirement-saving-myths-and-misconceptions/) - We are fortunate to have a very educated and knowledgeable client base, but we are consistently surprised by the myths and misconceptions clients and prospects bring to the conversation. Below I have listed my Top 7 Myths and Misconceptions About Retirement Savings; it is by no means a complete list but highlights the most common
- [Markets are Digesting a TON of Information](https://ballastplan.com/markets-are-digesting-a-ton-of-information/) - Over the last few months, market volatility has dramatically increased. The CBOE Volatility Index or VIX, created by the Chicago Board Options Exchange, is a real-time market index representing the market’s expectations for volatility over the coming 30 days. The VIX started the year at just over 17 and has already reached over 28 during
- [Paying Down Debt vs. Saving for Retirement](https://ballastplan.com/paying-down-debt-vs-saving-for-retirement/) - The balance between debt payments and savings contributions will vary with each household and the solution is more than just a mathematical calculation.
- [Getting Creative with College Funding](https://ballastplan.com/getting-creative-with-college-funding/) - In our previous discussions about college planning, we’ve discussed where and how much to save while acknowledging that these questions require several assumptions. Is it sensible to make saving for college a major financial goal when there’s no guarantee the child will attend? That’s a tough question for families and for this reason, we favor educating
- [Takeaways From a Week at the Chicago Booth School of Business](https://ballastplan.com/takeaways-from-a-week-at-the-chicago-booth-school-of-business/) - Time was spent learning from leading practitioners in estate and tax planning to make sure we are utilizing the best tools possible to serve our clients.
- [Tax Savings on Company Stock](https://ballastplan.com/tax-savings-on-company-stock/) - Through Net Unrealized Appreciation, or NUA, the IRS will only tax the basis — the purchase cost — of company stock at ordinary income rates.
- [Simplify Budgeting to One Key Number](https://ballastplan.com/simplify-budgeting-to-one-key-number/) - “Where does the money go?” is a question we, unfortunately, hear all too often when discussing budgeting and cash flow. Often the only thing simple about a family’s cash flow is that it is simply confusing. Let's look at how we help simplify complicated family finances into one key number. Often times we see clients
- [Asset Allocation Factors: Time and Emotion](https://ballastplan.com/asset-allocation-factors-time-and-emotion-2/) - What percentage of the investment portfolio will be comprised of equities, and what percentage will be fixed-income? Asset allocation should be tailored.
- [Student Loan Forgiveness Best Practices](https://ballastplan.com/student-loan-forgiveness-best-practices/) - Federal student debt cancellation up to $10,000, Cancellation limited by income, Limited PSLF Waiver ends October 31, 2022; review your eligibility.
- [The Similarities Between Running and Saving](https://ballastplan.com/runningandsaving/) - Smaller goals are easier and quicker to achieve, larger goals take more diligence and time. The path to a larger financial goal is like training for a big race.
- [Estate Planning](https://ballastplan.com/estate-planning/) - An estate plan is an integral part of any sound financial plan...whether it's a last will, a simple testamentary trust, or a multi-generational multi-trust plan
- [Insurance](https://ballastplan.com/insurance/) - From protecting your loved ones from financial hardship to your income stream or business and disability to your property, insurance offers a financial shield.
- [Debt Analysis](https://ballastplan.com/debt-analysis/) - The Ballast Atheneum is a collection of our thoughts on the twelve most important topics in financial planning. Today, the focus is on DEBT. Debt. It's a subject that not many people really enjoy talking about, but it's a reality for nearly all of us. Whether it's "good" debt in the form of a
- [End of Year Financial Planning](https://ballastplan.com/end-of-year-financial-planning/) - As we officially enter the month of November, it is hard to believe that Thanksgiving is just three weeks away. Hopefully, this year brings back the celebration of holiday traditions and family gatherings. However, before the sugarplums start dancing, we need to stay diligent and focus on year-end planning to ensure we are making sound
- [Putting a Value on Your Social Security Benefits](https://ballastplan.com/putting-a-value-on-your-social-security-benefits/) - Social Security can only be taken as a guaranteed income stream. Most people don’t view it as an asset but it may be the largest on your balance sheet.
- [Employee Stock Ownership & Options](https://ballastplan.com/employee-stock-ownership-options/) - Company stock plans & stock options have many customizable details, and employees should understand their stock plan’s features & tax consequences.
- [Evaluation of a Job Offer](https://ballastplan.com/evaluation-of-a-job-offer/) - What are all the aspects of my compensation package? This includes salary and other benefits such as insurance, retirement, and other fringe benefits.
- [Behavioral Finance and Asset Allocation](https://ballastplan.com/behavioral-finance-and-asset-allocation-2/) - Summary Points: We simply have to watch money flow to know how “average investors” behave. Investor emotions typically run opposite to sound decision making. Sound allocation planning can provide other positive impacts on your overall plan. An emotional investor is very likely to make poor decisions over his or her financial life. Various
- [Finding the Best Order for Funding Retirement](https://ballastplan.com/finding-the-best-order-for-funding-retirement/) - With a task as important as funding your retirement, determining which accounts to fund and in what order should not be taken lightly. Whether it’s a company plan, individual retirement account or taxable account, there are a lot of ways to save for retirement. So how do you decide where to put each dollar you
- [Evaluating a Pension Buyout](https://ballastplan.com/evaluating-a-pension-buyout/) - The pension vs. lump sum decision should be made in the scope of a full financial plan with all your unique circumstances factored in.
- [Managing a Household Allocation](https://ballastplan.com/managing-a-household-allocation/) - One of our mantras in planning is to “Know What You Own.” Peter Lynch popularized this term during his management of a Fidelity mutual fund in the 1980’s, and we think it applies to more than just investments. Your home, your health insurance, your business, and yes, your investments each have features, risks, and opportunities
- [Give and Get: Qualified Charitable Distributions](https://ballastplan.com/give-and-get-qualified-charitable-distributions/) - Tax reform has decreased the households who itemize to about 10% of taxpayers. Donors younger than 70 ½ should consider the timing of their contributions.
- [Most Couples Shouldn’t BOTH Delay Social Security](https://ballastplan.com/most-couples-shouldnt-both-delay-social-security/) - Two incomes have complex Social Security decisions. The higher-earner benefits from delaying payments while the lower-earner benefits from starting early.
- [Taxes in Retirement – Case Studies](https://ballastplan.com/taxes-in-retirement-case-studies/) - Sources of income will change. A diversified portfolio protects in down markets and provides flexibility when planning for taxes.
- [Zero-Based Budgeting for Individuals and Households](https://ballastplan.com/zero-based-budgeting-for-individuals-and-households/) - Zero-Based Budgeting (ZBB), start your budget from zero, then add in what is needed. It is useful in a business environment and for individuals and households.
- [Top 10 Personal Finance Best Practices](https://ballastplan.com/top-10-personal-finance-best-practices/) - As more investors seek out and embrace personalized asset management and individualized financial advice, industry tycoons Vanguard and Russell Investments researched the value created by professional advice. Both companies measured the impact on investor returns when partnering with an advisor who provides skilled management and guidance. Russell Investments identified up to an additional annualized
- [Behavioral Finance and Asset Allocation](https://ballastplan.com/behavioral-finance-and-asset-allocation/) - Summary Points: We simply have to watch money flow to know how “average investors” behave. Investor emotions typically run opposite to sound decision making. Sound allocation planning can provide other positive impacts on your overall plan. An emotional investor is very likely to make poor decisions over his or her financial life. Various
- [Asset Allocation Factors: Time and Emotion](https://ballastplan.com/asset-allocation-factors-time-and-emotion/) - When we meet with a new client, one of our tasks is to determine an appropriate asset allocation for the funds they invest. At a very basic level, the question we are trying to answer is “what percentage of the investment portfolio will be comprised of equities (stocks), and what percentage will be fixed-income (bonds)?”
- [The Importance of Asset Allocation and Diversification](https://ballastplan.com/the-importance-of-asset-allocation-and-diversification-2/) - Not only has recent market volatility resulted in renewed anxiety for many investors, it has also been a stern reminder of the value of having a proper mix of assets in your portfolio. The concepts of asset allocation and diversification can be traced all the way back to a 4th century text, the Babylonian Talmud,
- [Connections: Mike Reynolds On Legacy Planning](https://ballastplan.com/connections-mike-reynolds-on-legacy-planning/) - Andy Reynolds recently interviewed Mike Reynolds, Member at Kinkead & Stilz, on Legacy Planning. Full interview below. How have family dynamics changed the way you approach estate planning compared to 10 or 20 years ago? Today we see a lot more blended families than we saw in the past. That means having conversations about
- [Federal Reserve Leaves Rates Unchanged](https://ballastplan.com/fed-rates-unchanged/) - Last week, the Federal Reserve voted to leave the federal funds rate unchanged at 3.75%, where it has remained throughout 2026. While the broader trend since early 2024 has been toward lower interest rates, recent inflation data has led many members of the Federal Open Market Committee to take a more cautious approach before implementing
- [How Much to Save for College](https://ballastplan.com/how-much-to-save-for-college-2/) - Will your child wow you with a 4.0 GPA in high school or do they believe C’s get degrees? Are their sights set on private colleges in expensive cities or the public university up the road? Do they know their path, or will they meander through three majors over six years? If you know the
- [College Savings](https://ballastplan.com/college-savings/) - With America’s student loan debt growing larger every year, saving for college is on the minds of many of our clients. Whether you want to help pay for some of all of college, you likely want to do it as efficiently as possible. Which savings vehicle is best for me? How much do I need
- [The Tax Life Cycle: How Physicians' Tax Strategies Should Evolve Throughout Their Careers](https://ballastplan.com/the-physician-tax-life-cycle/) - The Tax Life Cycle: How Physicians' Tax Strategies Should Evolve Throughout Their Careers One of the most common tax mistakes physicians make is using the same savings strategy throughout their careers. In reality, tax planning should evolve as your income changes. Thinking in terms of a "tax life cycle" can help you build wealth while
- [A Tale of Two Chairs](https://ballastplan.com/two-chairs/) - If you tuned in to the most recent Federal Open Market Committee (FOMC) press conference in June, you may have noticed the grey-haired man with his customary purple tie did not step up to the podium as he has for the last eight years. Jerome Powell’s term as Chair of the Federal Reserve ended on
- [WATCH: Charitable Giving Webinar with Lisa Adkins of BGCF and Andy Reynolds](https://ballastplan.com/charitable-giving-webinar/) - In this episode, Ballast COO Andy Reynolds sits down with Lisa Adkins, CEO of the Blue Grass Community Foundation, to explore how charitable giving can become a powerful tool for tax planning, legacy building, and family values. Lisa shares current trends in philanthropy, including the growing popularity of donor-advised funds, charitable “bunching” strategies, and
- [Beyond the Luxury Car: Avoiding the Costliest Financial Mistakes in Medicine](https://ballastplan.com/physician-financial-mistakes/) - Discover the most common physician financial mistakes made during early, mid, and late career—and how thoughtful planning can help avoid them.
- [Upcoming Mega-IPOs: SpaceX, Anthropic, and OpenAI – Index Inclusion and Investor Implications](https://ballastplan.com/upcoming-mega-ipos-spacex-anthropic-and-openai-index-inclusion-and-investor-implications/) - Upcoming Mega-IPOs: SpaceX, Anthropic, and OpenAI – Index Inclusion and Investor Implications SpaceX had its IPO last week. Anthropic (maker of Claude) has filed for as early as October, and OpenAI (maker of ChatGPT) is preparing a filing targeting Q4 2026. These companies carry enormous valuations. SpaceX is already valued at approximately $2.2 trillion
- [Ballast Announces Two New Additions to the Team](https://ballastplan.com/ballast-announces-two-new-additions-to-the-team/) - Since our founding, our vision has remained steadfast: build a team that we would want to advise our own families. As we continue to grow, we're excited to welcome two talented individuals to the team who bring unique experiences, fresh perspectives, and a shared commitment to serving our clients well. Jake Nahra, Intern Jake
- [Physicians, Treat Yourself Like a Professional Athlete](https://ballastplan.com/physicians-and-performance/) - Medical professionals, particularly surgeons, should think about their careers much like professional athletes think about theirs. Both operate in environments where performance matters, the margin for error is thin, and the demands on the body and mind are relentless. A professional athlete understands that their earning years are finite and that one injury, one loss
- [What Are Trump Accounts? Understanding the Proposed 530A Investment Account for Children](https://ballastplan.com/trump-accounts-explained/) - Trump Accounts (530A accounts) are proposed child investment accounts offering tax-deferred growth, contribution limits, & potential government-funded deposits.
- [May the 4th Be With You](https://ballastplan.com/may-the-4th-be-with-you/) - I’ve been serving families at Ballast for over a decade, but this is the first time it’s my turn to write an update on May 4th. If you are high on the nerdiness scale like me, you will know that today is the unofficial holiday to celebrate the Star Wars universe, a play on “may
- [WATCH: Protecting Your Personal Data](https://ballastplan.com/watch-protecting-your-personal-data/) - By treating data and credit security as an integral part of your financial plan, you strengthen every other link in the chain.
- [Ballast's Trent Lakes Obtains CERTIFIED FINANCIAL PLANNER® Certification](https://ballastplan.com/trent-lakes-earns-cfp/) - Trent Lakes, Investments and Fincancial Planning Strategist at Ballast, has earned his CERTIFIED FINANCIAL PLANNER® certification.
- [Beyond the 401k: Savings Opportunities You Might Not Have Considered](https://ballastplan.com/savings-opportunities/) - 401(k) plans are valuable tools for employees at all income levels, but physicians often face limits on how much they can contribute, relative to their earnings. As a result, many doctors need additional strategies to build sufficient retirement savings and maintain their lifestyle after their work career. These strategies generally fall into two categories: tax
- [Medicare 101: What You Need to Know Before You Sign Up](https://ballastplan.com/medicare-101-what-you-need-to-know-before-you-sign-up/) - Medicare — what's covered, what's not, and how to protect your retirement from unexpected medical bills. Everything to know before you sign up for Medicare.
- [When Oil Prices Drive the Market](https://ballastplan.com/oil-prices-stock-market-impact-2026/) - How oil prices are driving stock market trends in 2026. Learn the impact on inflation, interest rates, and sector performance.
- [A Narrow Strait, A Wide Impact](https://ballastplan.com/a-narrow-strait-a-wide-impact/) - Geopolitical conflict involving Iran has investors watching the global energy markets. Here’s what it means for oil prices, inflation, and long-term portfolios.
- [WATCH: Q1 Market and Economic Update with Brian Burton and John Boardman](https://ballastplan.com/watch-q1-market-and-economic-update-with-brian-burton-and-john-boardman/) - In this quarter's update, Ballast, Inc. CIO Brian Burton sits down to answer the questions we've been hearing most from clients over the last two months. What's kept markets strong? What's happening with Bitcoin and gold? Is AI still a real story or just a really expensive one? And why is everyone suddenly talking
- [WATCH: Do I Need a Trust?](https://ballastplan.com/trust-needed/) - Advisors Frank Yozwiak and Andy Renolds answer the common question: "Should I have a trust? Should my estate plan include this?"
- [Safeguard Assets: Asset Protection Essentials for Doctors](https://ballastplan.com/safeguard-assets-asset-protection-essentials-for-doctors/) - Learn essential asset protection strategies for doctors, including malpractice coverage, entity structuring, retirement plan protection, and liability planning.
- [2026 Retirement Contribution Limits](https://ballastplan.com/2026-retirement-contributions-limits/) - The IRS has increased 401(k) and IRA contribution limits for 2026. Learn what’s changed, how much you can contribute, and how to plan smarter this year.
- [Physician Retirement Planning: 5 Steps to Retire with Confidence](https://ballastplan.com/five-steps-to-retire-with-confidence/) - Physician retirement planning made simple. Learn 5 essential steps doctors need to transition from clinical work to retirement with financial confidence.
- [U.S. Income Tax History: How Tax Rates and Revenue Have Changed Since 1862](https://ballastplan.com/a-history-of-the-individual-income-tax-in-america-2/) - Explore the complete history of income tax from 1862 to 2017. Learn how tax rates and federal revenue have changed over 150+ years of American taxation.
- [Investing at Stock Market All-Time Highs: What to Do When the S&P 500 and Dow Hit Records](https://ballastplan.com/investing-at-stock-market-all-time-highs/) - The S&P 500 and Dow are hitting record highs. Learn why stock market all-time highs are normal and how to invest strategically during market peaks from a CFP®.
- [2026 Retirement Account Contribution Limits & Year-End Tax Planning](https://ballastplan.com/2026-changes-reminders-that-may-affect-retirement-planning/) - 2026 retirement contribution limits are here. Learn new 401(k), IRA, and HSA limits plus year-end tax strategies including RMDs, Roth conversions, and more.
- [Tax-Efficient Charitable Giving Strategies: 3 Ways to Maximize Your Donations](https://ballastplan.com/tax-efficient-charitable-giving-strategies/) - Discover 3 tax-efficient charitable giving strategies, including donor-advised funds, stock donations, and QCDs that maximize impact while minimizing taxes.
- [WATCH: Fall 2025 Market Update (October)](https://ballastplan.com/fall-2025-market-update-october/)
- [WATCH: Personal Budgeting for Business Owners](https://ballastplan.com/personal-budgeting-for-business-owners/)
- [Ballast Welcomes Two New Team Members: Catherine Richmond and Madelyn Mozeleski](https://ballastplan.com/ballast-welcomes-two-new-team-members/) - Ballast, an independent, employee-owned financial planning and investment management firm, is proud to announce the addition of two new team members: Catherine Richmond, joining as a Financial Advocate, and Madelyn Mozeleski, joining as a Financial Planning Intern. Catherine Richmond brings a wealth of analytical experience and a strong client-centered approach to her role. After earning
- [NIL Gives a Lesson in Time Value of Money](https://ballastplan.com/nil-gives-a-lesson-in-time-value-of-money/) - Most of the families we serve are not NCAA athletes at power conference schools, but many are fans and season ticket holders. They are more likely to be athletic boosters than athletic legends, starting with yours truly! But we all inhabit the same financial landscape and use the same tools to make decisions. I hope our families with
- [October Market Commentary](https://ballastplan.com/october-market-commentary/) - As we enter Q4, the global economy continues to show resilience, but signs of slowing momentum are becoming increasingly evident across developed and emerging markets. Following a relatively strong first half of the year, the second half has brought softer growth data, persistent inflation in certain segments, and renewed volatility in financial markets. Investors and
- [Q&A with Ballast CEO/Founder, John V. Boardman, III](https://ballastplan.com/qa-with-ballast-ceo-founder-john-v-boardman-iii/) - Q: When you first began your career, what did you expect it to look like? A: I pictured a life behind a computer, researching companies, trading securities, and managing portfolios. That is what I thought success in finance looked like. But when the firm I worked for was acquired, I was introduced to financial planning,
- [Guest Commentary: Jeffrey Gehring on Estate Law and Planning](https://ballastplan.com/guest-commentary-jeffrey-gehring-on-estate-law-and-planning/) - Jeffrey L. Gehring Dickinson Wright PLLC 300 W. Vine Street, Suite 1700 Lexington, KY 40507 (859) 899-8713 jgehring@dickinson-wright.com Personal & Professional Journey What inspired you to pursue a career in estate law, and what has kept you passionate about it over the years? I really love the intersection of the technical rules related to
- [Should I Consider a Trust?](https://ballastplan.com/should-i-consider-a-trust/) - Trusts can be powerful tools for families across the financial spectrum to protect and manage assets, care for loved ones, and potentially realize generational tax savings. They can also provide privacy by avoiding public probate, and customized asset distribution, such as for health, education, maintenance, and support. For those with minor children, a trust can
- [Liquidity & Exit Planning](https://ballastplan.com/liquidity-exit-planning/) - For many business owners, the sale of their company is a once-in-a-lifetime event that creates a sudden and significant infusion of wealth. While exciting, this new liquidity also presents both challenges and opportunities. To navigate the transition effectively, owners should address five critical questions. First, what is my after-tax liquidity? The headline number from a
- [Top 5 Considerations When Making a Career Change](https://ballastplan.com/top-5-considerations-when-making-a-career-change/) - 1. Fit Check Making a switch should not be solely about salary. Think about intangibles- resources, training, mentorship, flexibility, advancement track. Run your career like a business and ask: Will this opportunity make me better off in five and ten years? Is this opportunity a better fit for me and my family? 2. Relationship Continuity
- [Market Commentary | Q3](https://ballastplan.com/market-commentary-q3/) - Markets entered September with a cautiously optimistic tone following a mixed August that was marked by softening labor data, persistent inflation pressures, and renewed speculation around Federal Reserve policy direction. The S&P 500 posted modest gains last month, driven largely by strength in AI-related tech, semiconductors, and mega-cap growth stocks. At the same time, small-caps,
- [Summer Market Update -Stability & Strategy](https://ballastplan.com/summer-market-update-stability-strategy/) - Despite bouts of heavy volatility in recent months, financial markets continue to exhibit a cautiously optimistic outlook, based on resilient economic fundamentals and strategic policy support. Economic Growth & Corporate Earnings After a sluggish start to the year, the U.S. economy is showing signs of steady, albeit moderate, growth. Consumer spending has shown resilience leading
- [WATCH: Tax Optimization of Charitable Giving](https://ballastplan.com/tax-optimization-of-charitable-giving/) - https://youtu.be/m9GS_MNwGDg Make a bigger impact with your charitable giving with smarter planning, not just giving more. Discover how to get the most out of your donations for the causes you care about and your long-term tax plan. Ideal for those who want to balance generosity with financial planning.
- [Case Study: Building a Legacy](https://ballastplan.com/case-study-building-a-legacy/) - The Power of a Multi-Generational Family Financial Plan In today’s complex and fast-paced financial environment, families with substantial assets face a critical question: How can we ensure that our wealth not only endures, but also empowers future generations? The answer lies in the thoughtful design and disciplined execution of a multi-generational financial plan. For high-net-worth
- [Guest Commentary: Stefan Hendrickson on OBBBA & Taxes](https://ballastplan.com/guest-commentary-stefan-hendrickson-on-obbba-taxes/) - An interview with Stefan Hendrickson, CPA/ABV, Tax Associate Director, Dean Dorton. In your view, what are the most important provisions of the OBBBA that individuals and families should know about? The big headline for the OBBBA for the majority of taxpayers is the extension of many of the 2017 Tax Cuts and Jobs Act
- [Price-to-Sales and Market Valuations](https://ballastplan.com/price-to-sales-and-market-valuations/) - The conversation around U.S. equity valuations has grown louder in recent months, with many commentators pointing to price-to-sales ratios that now sit near record highs. Historically, the P/S ratio has been a useful yardstick in moments when profit margins and earnings fluctuate, because sales provide a more stable foundation for comparison across cycles. In February
- [WATCH: 100 Year Family Financial Plan Webinar](https://ballastplan.com/100yearplanwebinar/) - A look into planning and prospering for generations to come, and how to leave a lasting legacy, plan, and financial future for those you care about.
- [Testing the Challenges of a Long Retirement](https://ballastplan.com/testing-the-challenges-of-a-long-retirement/) - We often joke that our job was created because of increasing life expectancies and pensions seldom being offered. Obviously, finance and investing have become more complicated, and there are an ever-increasing number of investment vehicles and planning strategies we help our clients choose between. We also know there is great value placed in our ability
- [The Most Impactful Tax Changes from the One Big Beautiful Bill Act](https://ballastplan.com/the-most-impactful-tax-changes-from-the-one-big-beautiful-bill-act/) - As we flip our calendars to August, many of us find ourselves savoring the final stretch of summer by balancing travel, barbecues, and last-minute adventures with family and friends. At our house, we are tackling the remaining items on our summer bucket list and doing our best to squeeze them into an already full calendar.
- [WATCH: Mid-Year Market Update from Ballast](https://ballastplan.com/watch-mid-year-market-update-from-ballast/) - 2025 has delivered no shortage of market drama—from sweeping tariffs and geopolitical tensions to AI volatility and record-breaking rebounds. In this mid-year update, the Ballast team breaks down the year's first-half market moves, examines economic headwinds and tailwinds, and looks ahead to what may shape investor portfolios in the second half. Hear from: • Brian
- [Ballast Magazine - Issue 1](https://ballastplan.com/ballast-magazine-issue-1/) - Introducing Ballast Magazine A new way to explore wealth, purpose, and planning from the Ballast advisory team. We’re proud to share the first issue of Ballast Magazine—a curated collection of insights, strategies, and real-world stories for individuals and families committed to building a meaningful financial legacy. And the best part? Every article was thoughtfully written
- [Watch: Market Update](https://ballastplan.com/watch-market-update/) - In today’s unpredictable financial landscape, market volatility can be daunting for investors. Recently, John, Andy, and Brian discussed the current environment and share their insights on how to navigate turbulent waters while staying the course. With the right strategies, a well-thought-out plan, and a steady hand, investors can weather the storms of market fluctuations
- [Market Update & April 16th Video Invitation with Ballast Advisors](https://ballastplan.com/market-update-april-16th-video-invitation-with-ballast-advisors/) - As many have noticed, volatility has returned to the equity markets, largely due to the recent wave of global tariffs introduced by President Trump on Wednesday. While these tariffs are intended to strengthen the U.S. economy over the long term, their short- to mid-term impact is likely to bring increased volatility, uncertainty, and market speculation. This
- [How Should Investors View AI?](https://ballastplan.com/investors-and-ai/) - As financial planners and investment managers, it is imperative to recognize that artificial intelligence (AI) is poised to be one of the most transformative forces in the global economy over the next 5 to 10 years. According to Goldman Sachs, AI investment is projected to approach $200 billion globally by 2025, underscoring its rapid
- [Finding the Best Order for Funding Retirement](https://ballastplan.com/retirementbuckets/) - With a task as important as funding your retirement, determining which accounts to fund and in what order should not be taken lightly. Whether it’s a company plan, individual retirement account or taxable account, there are a lot of ways to save for retirement. So how do you decide where to put each dollar you
- [Beware of Scams and Fraud Attempts!](https://ballastplan.com/beware-of-scams-and-fraud-attempts/) - At Ballast, safeguarding your financial future goes beyond smart investing—it also means protecting your assets from fraud. This week, we’re featuring insights from our Chief Compliance Officer, Jeff Lehmann, who shares essential strategies to help you recognize and avoid scams. Whether it's identifying red flags in financial transactions or staying ahead of evolving threats, Jeff’s
- [Social Security Changes for People with Government Pensions](https://ballastplan.com/social-security-changes-for-people-with-government-pensions/) - In January, President Biden signed the Social Security Fairness Act into law, which ends the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). This change is significant for people whose Social Security benefits are reduced by a government pension from work where Social Security taxes were not collected. A Brief, High-Level Summary
- [Asset Allocation Factors: Time and Emotion](https://ballastplan.com/asset-allocation-factors-time-and-emotion-3/) - When we meet with a new client, one of our tasks is to determine an appropriate asset allocation for the funds they invest. At a very basic level, the question we are trying to answer is “what percentage of the investment portfolio will be comprised of equities (stocks), and what percentage will be fixed-income (bonds)?”
- [Simplify Budgeting to One Key Number](https://ballastplan.com/simplify-budgeting-to-one-key-number-2/) - “Where does the money go?” is a question we, unfortunately, hear all too often when discussing budgeting and cash flow. Often the only thing simple about a family’s cash flow is that it is simply confusing. Let’s look at how we help simplify complicated family finances into one key number. Often times we see clients
- [Putting a Value on Your Social Security Benefits](https://ballastplan.com/5232/) - Key Takeaways: Most retirees don’t think of Social Security as an asset and therefore exclude it from their balance sheet. The present value of Social Security payments over an average life expectancy can easily be several hundred thousand dollars. We can’t predict what will happen with Social Security down the road, so it is important
- [When Too Much Tax Deferral Becomes Counterproductive](https://ballastplan.com/when-too-much-tax-deferral-becomes-counterproductive-2/) - . Most of us have been told from early on in our careers to defer as much income as possible to ensure we’ll be properly prepared for retirement. While not bad advice, most of these strategies involve only qualified deferrals, meaning all income tax gets punted until the distribution phase. Now, if you end up
- [Cash Flow Autopilot](https://ballastplan.com/cash-flow-autopilot-2/) - The Ballast Atheneum has focused on many aspects of cash flow planning, including budgeting, retirement savings vs. paying down debt, costs of vehicle ownership, and cash flow planning vs. long-term care. This article shares a case study that we try to create for working clients. We have implemented this Retirement Autopilot for many people and
- [Year-End Financial Planning & Investments Among Market Volatility](https://ballastplan.com/year-end-financial-planning-investments-among-market-volatility/) - Roth conversions, tax harvesting, contributions, RMDs, qualified charitable distributions, employee plans, & financial giving should be considered by year-end.
- [Balancing Saving and Giving](https://ballastplan.com/balancing-saving-and-giving-2/) - Most of our clients aspire to be financially self-sufficient. As those clients age, we notice some amount of transition into wanting to benefit others with accumulated resources. This giving can range from donations to charities of interest to paying for a grandchild’s education to helping a friend in need. We have been fortunate since the
- [The Importance of Tax Diversification](https://ballastplan.com/the-importance-of-tax-diversification-3/) - When most people think of diversification, they primarily focus on a proper mix of portfolio assets. As we have noted in the past, we target an asset mix of non-correlating assets for our clients. This could include stock, exchange traded funds, mutual funds, REITs, etc. However, one area of diversification that is often ignored is
- [Higher for Longer: What Does it Mean for Housing and Markets?](https://ballastplan.com/higher-for-longer/) - The turn of the calendar has many people resolved to make a positive change, while a few are resigning themselves to eschew the resolutions and embrace their everyday selves. Interest rates are in the latter camp. This time last year, market expectations of rate cuts were “New Year, New Me,” with futures markets pricing in
- [A New Year Update](https://ballastplan.com/a-new-year-update/) - This past year was, as usual, eventful for investors and beneficial for equity owners. In a Presidential election year, it can often be difficult to measure the true tone of economic optimism within this country. Voters generally feel more optimistic when their party is in power and less so when their candidate is challenging an
- [2024 Year-End Financial Insights: Markets, Taxes, AI & Election Impact from Ballast Advisors](https://ballastplan.com/yearend2024/) - As we wrap up 2024, Ballast is here to clarify the major financial themes shaping this year and what they could mean for the future. Listen to conversations from Ballast advisors John Boardman, Andy Reynolds, Cameron Hamilton, Brian Burton, and Frank Yozwiak as this year-end review offers insights into: 00:00:00 Begin 00:00:38 1️⃣ Markets
- [Positive Thoughts = Positive Results](https://ballastplan.com/positive-thoughts-positive-results/) - If you enjoy the deep-dive economic analysis and financial planning strategies, I suggest passing over my more sentimental commentary this week. I sat down to write Sunday after an unprecedented week of family togetherness centered around Thanksgiving, filled with gratitude and positivity. It was a nice reprieve from the generally more negative outlook we receive
- [Post-Election Thoughts on the Economy and Markets](https://ballastplan.com/post-election-thoughts-on-the-economy-and-markets/) - The overhang of the US election is now behind us and markets have taken a collective sigh of relief, not entirely because of the results, but because the uncertainty of who will be in office is now clear. The focus now turns to how the newly elected president will handle challenges in the current macro
- [Tax Law Changes Loom at the End of 2025](https://ballastplan.com/tax-law-changes-loom-at-the-end-of-2025/) - We are only a few weeks from the Presidential election and, as of today, there is no clear leader across the various polls. In addition, control of the House and Senate is also not yet clear. The result of all these races will have a massive impact on how tax law is handled, particularly as
- [Financial IQ](https://ballastplan.com/financial-iq/) - How Smart Is Your Money? Put your financial knowledge to the test with our quick Financial IQ quiz! Whether you're a savvy planner or just starting your wealth-building journey, this quiz will help you discover how well you’re navigating key money matters. Find out if you're on track with your personal finance goals and get
- [How Will the Fed’s Interest Rate Cuts Affect You?](https://ballastplan.com/feds-interest-rate-cuts/) - Last week, the Federal Reserve announced its first interest rate cut since the early days of the Pandemic. The highly anticipated rate cut resulted in a 50-basis point (half of one percent) reduction in the Federal Funds Rate, an important overnight borrowing rate set by the Federal Reserve. Outside of Covid, the last time the
- [Doing the Math on Sports Gambling](https://ballastplan.com/doing-the-math-on-sports-gambling/) - Want updates and articles like this sent straight to your inbox? Sign up for our newsletter here. Labor Day is in the rearview mirror and for my family that means it is football and tailgating season. When I feel that fall nip in the air, I feel the urge to light the BBQ smoker and
- [What to Consider Before, During, and After a Divorce](https://ballastplan.com/what-to-consider-before-during-and-after-a-divorce/) - Interested in learning more financial planning tips amidst divorce? Visit ballastplan.com/divorce.
- [Latest Data on Inflation and Labor Markets Paving the Way for Fed Rate Cuts](https://ballastplan.com/latest-data-on-inflation-and-labor-markets-paving-the-way-for-fed-rate-cuts/) - Following the weak jobs report that left many on Wall Street questioning the prospects of a "soft landing," we've seen a bit of unrest in markets over the last few weeks. Remember, a soft landing includes cooling inflation back to the Fed’s 2% target while maintaining a healthy labor market. With a slight crack showing
- [What Happened in the Markets Last Week?](https://ballastplan.com/lastweeksmarket/) - If you have turned on the news or had a conversation around the water cooler over the past week, you have certainly heard that volatility has returned to the stock market. Headlines like “Dow sinks more than 1,000 points in global market sell-off” and “Wall Street Hammered Amid Plunging Global Markets” led on all media
- [Who Wants to Talk Politics?](https://ballastplan.com/who-wants-to-talk-politics/) - Thanks for taking the bait. Positive stock market performance for 2024 has been celebrated by most investors, but the rationale behind the rally is where we tend to see a spectrum of opinions. I have personally heard clients laud their candidate of choice as the primary tailwind… from both sides of the aisle. It does
- [The Market’s Breadth Still Stinks but Could Relief Be on the Way?](https://ballastplan.com/markets-breadth/) - By: Brian T. Burton, CFP®, CIMA® You’ve probably heard about stock market breadth at this point, it has become quite the talking point amongst financial pundits. But what exactly is it? The term, market breadth, can simply be defined as how many stocks are participating in an index’s rise or fall, helping to assess
- [Run the Bluegrass 10k or Fun Run with Ballast!](https://ballastplan.com/bg10k-ballast/) - Join us for a tailgate and sponsored entry into the Bluegrass 10k or fun run on Thursday, July 4th in downtown Lexington. Park and Go! We make the running part easy! Park for free at our office, pick up your bib and shirt from us (no waiting in line!), and make your way to
- [John V. Boardman Honored for Years of Service by The Teachers Retirement System of Kentucky](https://ballastplan.com/jb-trs/) - LEXINGTON, Ky. (June 18, 2024) – The Teachers Retirement System of the State of Kentucky recently recognized John V. Boardman, Founder/CEO of Ballast, for his significant contributions and seven years of dedicated service to the Board of Trustees. Originally appointed to the Board of Trustees in 2017 by Gov. Bevin and reappointed in 2021
- [Five Attributes of Life-Changing Summer Jobs](https://ballastplan.com/five-attributes-of-life-changing-summer-jobs/) - Take a Pop Quiz! Suppose you have $100 in a savings account and the interest rate is 2% per year. After five years, will you have more than $102, exactly $102, or less than $102? That’s one of three questions used worldwide to test financial literacy. In the United States, only 30% of adults can
- [Directed Corporate Trustees - An Option for Trust Beneficiaries](https://ballastplan.com/directed-corporate-trustees/) - As pensions have largely been eliminated within the private sector, generational wealth accumulation continues to be a phenomenon impacting more and more families. Whether it be an accumulation of retirement assets, a business sale, or family generational wealth, a large amount of assets has been passed from one generation to the next. Over the next
- [Who Plans to Retire Early?](https://ballastplan.com/who-plans-to-retire-early/) - We often joke that our job was created because of increasing life expectancies and pensions seldom being offered. Obviously, finance and investing have become more complicated over time and there is an ever-increasing number of investment vehicles and planning strategies to help our clients choose between. We also understand there is great value placed in
- [529 College Savings Plans and the New FAFSA](https://ballastplan.com/529-college-savings-plans-and-the-new-fafsa/) - If you are planning to save for college expenses for your child or grandchild, a 529 college savings plan can be one of the best ways to do it. You put the money into the plan, it grows tax-free, and then if you use the funds for qualified education expenses, it comes out tax-free as
- [Business Owners Forum Video](https://ballastplan.com/ballast-business-owners-forum/) - We recently invited local business owners to Ballast for a discussion on topics important to them. This is the video from our meeting. Topics Include: What makes businesses attractive to buyers? What is the current state of the private equity market? How to separate finances between business and personal? How should owners prepare now for
- [Two Ways to Combat Household Inflation](https://ballastplan.com/two-ways-to-combat-household-inflation/) - Inflation is not a one-size-fits-all all phenomenon Inflation is the increase in prices over time Increasing prices means decreasing purchasing power How we choose to spend our money dictates how we experience inflation Inflation has been top of mind for every participant in our economy for three years straight: households, businesses, and policymakers. Inflation
- [Ballast Business Owner Forum](https://ballastplan.com/ballast-business-owner-forum/) - Join us! Business Owner Forum Wednesday, March 27 6:00-7:30 PM We invite you to Ballast for a discussion on topics important to business owners. Connect with other local business owners, hear from industry experts, and learn about how to optimize your business. Topics Include: + What makes businesses attractive to buyers? + What is the
- [Corporate Transparency Act – Attention LLC and Other Business Owners](https://ballastplan.com/corporate-transparency-act-attention-llc-and-other-business-owners/) - A Small Business Forum with be held on March 27th at 6:00 pm at Ballast. Click here to RSVP or learn more! In 2021, Congress passed the Corporate Transparency Act (CTA), which created a new beneficial ownership information reporting requirement for nearly all business owners, LLC real estate owners included. Financial Crimes Enforcement Network
- [Market Update | Q1 2024](https://ballastplan.com/market-update-q1-2024/) - Cameron Hamilton, John Boardman, and Andy Reynolds discuss the market environment, trends, and more in this beginning-of-the-year update.
- [The End of an Era – What We are Watching For in ‘24](https://ballastplan.com/the-end-of-an-era/) - For many years until the last, investors had been living under the same mantra of “There Is No Alternative” (TINA) to owning equities, helping prop up stock prices as yields on fixed income were too paltry to bother with. Times have changed; TINA ushered out and TARA welcomed in. Positive real rates are achievable, meaning
- [US Markets and Elections – It may matter less than you think.](https://ballastplan.com/us-markets-and-elections-it-may-matter-less-than-you-think/) - With the primary season among us, attention is being increasingly paid to the 2024 Presidential election. Like most historical Presidential elections, emotions and fears of potential political outcomes tend to run high and increase as we approach November. Political views aside, it is our job to understand the political environment, both historic and current, and
- [The Complicated Calculations of College Costs](https://ballastplan.com/the-complicated-calculations-of-college-costs/) - Parents of college-bound students are dealing with a chicken-or-egg dilemma. When it comes to student aid calculations, it just about requires a Ph.D. to understand how to fund a Ph.D. Different schools use different methods to evaluate different families, and when they get the results, they interpret them differently! Let’s wade into the wishy-washy world
- [The Importance of Asset Allocation and Diversification](https://ballastplan.com/the-importance-of-asset-allocation-and-diversification-4/) - With recent market volatility renewing anxiety for many investors, it is a stern reminder of the value of having a proper mix of assets in your portfolio.
- [Beware of Dots](https://ballastplan.com/beware-of-dots/) - The Federal Reserve Dot Plot has a shaky ten-year history. The Dot Plot shows the Fed’s expectations of future interest rates,
- [Takeaways from the Pandemic Relief Bill](https://ballastplan.com/takeaways-from-the-pandemic-relief-bill/) - Stimulus checks have been delivered based on 2019 tax returns, $600/person Business owners should review their ability to claim an Employee Retention Credit Unemployment adds $300/week extra to Mar 14; eviction moratorium now to Jan 31 The most overused word of 2020 was unprecedented. Congress was anything but when it went down to the wire
- [SECURE Act Presentation](https://ballastplan.com/secure-act-presentation/)
- [Toilet Paper... and Pork?](https://ballastplan.com/toilet-paper-and-pork/) - A little over a year ago, in March 2020, life as we then knew it was drastically changed. Many of those who were fortunate enough to remain employed found themselves working at home for the first time. March Madness was canceled, Disney World closed its gates, and toilet paper seemed to rank highly among the
- [Don't Worry, There's Still Time for 2020](https://ballastplan.com/dont-worry-theres-still-time-for-2020/) - I know what you are thinking. It is on everyone’s mind. “2020 was so much fun, such a great year, I wish it would stay 2020 forever.” (Disclaimer: as a new father, I am now qualified to make bad jokes). Well, unfortunately, I cannot bring back 2020, but I do have some good news: there’s
- [Interest Rates & Inflation](https://ballastplan.com/interest-rates-inflation/) - Over the past decade, the Federal Reserve has been pushing for modestly higher interest rates and inflation. To anyone following the markets or economic news, this statement is nothing new to hear. However, with higher inflation starting to build momentum, an economy that is beginning to stand on its own, and the potential of a US government
- [Insight Into Fixed Income + Timing of Social Security](https://ballastplan.com/insight-into-fixed-income-timing-of-social-security/) - When entering retirement, the question of how to structure income can be the most influential factor in determining a family’s long-term financial well-being. Several factors such as income source, inflation, and sequence of returns present risks and opportunities for retirees. Today’s Atheneum discusses how we might explore retirement income with John and Jane Smith. They
- [The Grey Area of Paying Off a Mortgage Early](https://ballastplan.com/the-grey-area-of-paying-off-a-mortgage-early/) - A key question that soon-to-be retirees often face is whether or not to eliminate debt before retirement. Generally, we would love to see all our clients enter their retirements debt-free. However, there could be some instances where making monthly debt payments is not necessarily a bad thing (i.e., zero-percent financing on a car). Sometimes the
- [Inflation Concerns: Are Higher Prices Here to Stay?](https://ballastplan.com/inflation-concerns-are-higher-prices-here-to-stay/) - Higher prices are here - I learned this last month when booking a rental car for our summer vacation, a 6-day rental for which I had typically budgeted $400-$500 was now going to cost over $1,000. Although an unpleasant surprise, the reasoning is quite simple, the travel demand has skyrocketed, in conjunction with a major
- [The Housing Market is on Fire!](https://ballastplan.com/the-housing-market-is-on-fire/) - Key Takeaways: Housing inventory has declined by 52% from last year and is 15.6% more expensive. Millennials are finally participating in home purchases in a more prevalent way. Low inventory and increased construction costs have made home purchase decisions difficult for buyers. To put it bluntly, the housing market is on fire! Over the past
- [Is the Recent Climb in Interest Rates a Real Threat?](https://ballastplan.com/is-the-recent-climb-in-interest-rates-a-real-threat/) - If you pay as close attention to mortgage rates as we do, you may have noticed a fairly significant move higher over the last few months. In fact, 30-year mortgage rates have risen in nine of the past eleven weeks, up 41 basis points from a low of 2.93 percent earlier this year, to the
- [How Will A Bear Market Affect Your Plan?](https://ballastplan.com/how-will-a-bear-market-affect-your-plan/) - In this week’s edition of the Ballast Atheneum, I am going to explore a subject no one wants to see but we all must prepare for; Will my portfolio survive a bear market? Fortunately, we can use some of our technology tools, specifically, Monte Carlo analysis to determine how prepared a client is for a
- [GameStop and the Rise of Meme Trading](https://ballastplan.com/gamestop-and-the-rise-of-meme-trading/) - Apple, Microsoft, and Facebook all reported earnings last week and somehow the results were buried behind article after article on a video game retailer involved in two industries on life support, selling discs and mall stores. So why all the hype for a company with revenues down 45% over the last decade and whose profits
- [Thoughts on NFTs](https://ballastplan.com/thoughts-on-nfts/) - We believe it is our responsibility to give our thoughts on current investment trends, even if it involves an asset that we do not currently invest in for our clients. Of all the “assets” we have detailed in previous commentaries, none are as esoteric as NFTs, or Non-fungible Tokens. I use quotation marks around the
- [The Hidden Benefits of Saving Early in Life](https://ballastplan.com/the-hidden-benefits-of-saving-early-in-life-2/) - We’re all aware that saving for retirement is not a strong suit for many Americans. There is no end to the alarming statistics regarding our lack of preparedness for when it’s finally time to call it a day. The most recent head-scratcher I came across was a survey done by J.P. Morgan Asset Management and
- [Is Bad News in the Economy Actually Good News for Markets?](https://ballastplan.com/is-bad-news-in-the-economy-actually-good-news-for-markets/) - The notion of a slowing economy equating to rising stock prices qualifies as counterintuitive, but that is exactly what we’ve seen over the last few months. Typically, positive stock market performance is aligned with strong economic growth, as seen in the chart below. This makes sense as GDP growth means individual companies are producing more,
- [Is it Time to Cash in I-Bonds?](https://ballastplan.com/is-it-time-to-cash-in-i-bonds/) - The golden deal of I Bonds has subsided. Watch Cameron here: https://youtube.com/shorts/HbPnqumYc9Q?feature=share As I make my way about town this week and enjoy the wonderful palette displayed by sycamores, maples, poplars, and oaks in Lexington, I’m reminded of Robert Frost’s poem, “Nothing Gold Can Stay,” which was originally published in October 1923 in the
- [The Markets & Economy – A Diverging Narrative](https://ballastplan.com/the-markets-economy-a-diverging-narrative/) - With the S&P 500 and Nasdaq both entering “Correction Territory,” the media has once again focused its attention on markets and everyone’s best prediction on when or if a looming recession may be coming. For the majority scratching their heads right now, a “correction” is simply defined as an index decline of 10% or more
- [End of Year Planning with Cameron and Frank](https://ballastplan.com/end-of-year-planning-with-cameron-and-frank/) - We’ve entered the 4th quarter! To make the most of your end-of-year, Cameron Hamilton (Director of Financial Planning) and Frank Yozwiak (Director of Estate Planning and Tax) share a few financial best practices and strategies to consider. Topics discussed include: + Cash review and income planning + Roth conversions and tax harvesting + Retirement contributions
- [Why Are Kids So Expensive These Days?](https://ballastplan.com/why-are-kids-so-expensive-these-days/) - We’re often invited to speak to student groups about financial planning and I like to end with a few pieces of advice that apply to almost everyone, including a list of the biggest financial mistakes someone can make. Number one on that list is having children, which always solicits a few chuckles when we speak
- [Retirement Savings](https://ballastplan.com/retirement-savings/) - One of the most fundamental jobs of the financial planner is to assist our clients with retirement savings. How much do you need to save? Which account types should you use? Given multiple options, where should you save your money first? The following articles discuss these and other questions relating to retirement savings. Are
- [Cash Flow Planning and Long Term Care](https://ballastplan.com/cash-flow-planning-and-long-term-care-2/) - One of the most challenging planning areas for us as practitioners is Long Term Care. In principle, it should be easy to universally recommend everyone go out and buy a Long Term Care policy that pays for skilled nursing needs at the end of their life. However, we have found planning in this area to
- [Behavioral Finance and Asset Allocation](https://ballastplan.com/behavioral-finance-and-asset-allocation-3/) - Summary Points: We simply have to watch money flow to know how “average investors” behave. Investor emotions typically run opposite to sound decision making. Sound allocation planning can provide other positive impacts on your overall plan. An emotional investor is very likely to make poor decisions over his or her financial life. Various experts (DALBAR,
- [Managing a Household Allocation](https://ballastplan.com/managing-a-household-allocation-3/) - One of our mantras in planning is to “Know What You Own.” Peter Lynch popularized this term during his management of a Fidelity mutual fund in the 1980’s, and we think it applies to more than just investments. Your home, your health insurance, your business, and yes, your investments each have features, risks, and opportunities
- [The Importance of Asset Allocation and Diversification](https://ballastplan.com/the-importance-of-asset-allocation-and-diversification-3/) - Not only has recent market volatility resulted in renewed anxiety for many investors, it has also been a stern reminder of the value of having a proper mix of assets in your portfolio. The concepts of asset allocation and diversification can be traced all the way back to a 4th century text, the Babylonian Talmud, which
- [Portfolio Rebalancing](https://ballastplan.com/portfolio-rebalancing-2/) - Below are our key conclusions when considering rebalancing as part of an overall investment management: Developing asset allocation through a thoughtful understanding of the individual client remains the most important factor. Unemotional investment decisions are essential. Rebalances are essential for long-term asset management but are not the leading factor. At the beginning of most of
- [Diworsification – Can You Take Diversification Too Far?](https://ballastplan.com/diworsification-can-you-take-diversification-too-far-2/) - Key Takeaways: Diversification can be overdone – there is a point where adding another investment to your portfolio can be harmful to the risk/return profile The goal of portfolio diversification is to reduce volatility – owning assets that don’t always move in sync with one another. Naively attempting to diversify your portfolio by investing in
- [Give and Get: Qualified Charitable Distributions](https://ballastplan.com/5202/) - Key Takeaways Tax reform has decreased the households who itemize to about 10% of taxpayers. Those who don’t itemize may not realize tax benefits from charitable donations. Qualified Charitable Distributions help donors above age 70 ½ realize a tax benefit. Donors younger than 70 ½ should consider the timing of their contributions. With Scottie Scheffler
- [The Investor Taxation Lifecycle](https://ballastplan.com/the-investor-taxation-lifecycle-2/) - We are not CPAs nor are we tax preparers, but a great deal of our time is spent working with clients and their professionals honing a financial plan that is tax efficient. We advise our clients to hire a CPA with whom we can work together to manage their financial plans. The financial plan and
- [Taxes in Retirement – Case Studies](https://ballastplan.com/taxes-in-retirement-case-studies-2/) - Key Takeaways: Your sources of income will change, but you will still owe taxes in retirement. In general, your principal (or “cost basis”) will be returned to you tax-free. A diversified portfolio protects in down markets and provides flexibility when planning for taxes. When you’ve spent your adult life working and saving, retirement is a
- [Pre-RMD & Social Security Roth Conversions](https://ballastplan.com/pre-rmd-social-security-roth-conversions-2/) - Key Takeaways: Roth conversions should be especially considered if retired and not yet 70 years old. Withdrawing pre-tax funds and paying taxes before Social Security and Required Minimum Distributions (RMD) may result in less tax paid on those funds over the long term. Careful retirement income tax planning prior to age 70 may present significant
- [Social Security Income: Not-So-Simple Basics](https://ballastplan.com/social-security-income-not-so-simple-basics-2/) - When I first started writing this article, my introductory sentence was “Social Security on the surface is a very simple concept.” However, as I began to write about all of the “simple” information, I have to conclude that Social Security is not very simple at all if you are not continually dealing with it. Below, I will
- [Social Security: Whether to Wait to Start Taking Retirement Benefits](https://ballastplan.com/social-security-whether-to-wait-to-start-taking-retirement-benefits-2/) - Key Takeaways: You could be facing up to a 30% reduction in your PIA by taking Social Security retirement benefits at age 62. By waiting until age 70, your retirement benefits will be roughly 32% higher than your PIA. The breakeven for taking Social Security retirement benefits at age 70 compared to age 66 is
- [Most Couples Shouldn’t BOTH Delay Social Security](https://ballastplan.com/most-couples-shouldnt-both-delay-social-security-2/) - Key Takeaways: Two-income households have more complex Social Security timing decisions The higher-earning spouse generally benefits from delaying payments The lower-earning spouse generally benefits from starting payments early We’ve written a previous breakdown on the Social Security timing decision. Briefly, between ages 62-70, if you delay taking income, your monthly benefit grows. We discussed that delaying increased
- [Alternative Uses of Social Security Income](https://ballastplan.com/alternative-uses-of-social-security-income-2/) - Key Takeaways: Many unique situations could justify taking Social Security earlier. The psychological benefits of a new income stream can relieve anxiety around a new planning strategy. To take Social Security before age 70, the financial and non-financial benefits of claiming Social Security early should outweigh the benefits of deferral. If you live a longer
- [Should Business Owners Raise Their Salary to Earn More Social Security?](https://ballastplan.com/should-business-owners-raise-their-salary-to-earn-more-social-security-2/) - Key Takeaways: Pass-through entity owners can choose to take profits as wages or distributions Increasing owner salary raises payroll tax liability but also increases future Social Security benefits Older owners and owners with non-working spouses and/or incomplete earnings records stand to benefit the most from increasing their salaries Lower taxes are better, right? We spend
- [Employee Stock Ownership & Options](https://ballastplan.com/employee-stock-ownership-options-2/) - Key Takeaways: Company stock plans & stock options have many customizable details Employees should understand their stock plan’s features & tax consequences With correct utilization, employee stock can meaningfully increase compensation When evaluating a job offer, it is best not to focus only on salary or an hourly wage. We have the pleasure of speaking
- [Evaluation of a Job Offer](https://ballastplan.com/evaluation-of-a-job-offer-2/) - Key Takeaways – The following considerations must be made when reviewing an opportunity to take a new job or leave a W2 salary to start a business. Nearly 93% of Americans earn income outside their primary job1. What are all the aspects of my compensation package? This includes salary and other benefits such as insurance,
- [Review Your Benefits as You Progress Through Life](https://ballastplan.com/review-your-benefits-as-you-progress-through-life-2/) - Key Takeaways: Workers born between 1957 and 1964 changed jobs an average of once every two-and-a-half years and had an average of 11.7 jobs between ages 18 to 48. If you have employer-provided life insurance, you may have the option to take the policy with you if you leave your job, but the premiums will
- [Evaluating a Pension Buyout](https://ballastplan.com/evaluating-a-pension-buyout-2/) - Key Takeaways: Calculating the “hurdle rate” of return is an important first step in determining whether staying in the pension or taking a lump sum is the best option for you. Beyond the math, there are other big-picture variables that should be considered before deciding. The pension vs. lump sum decision should be made in
- [Evaluating the Benefits of Flex Spending and Health Savings Accounts](https://ballastplan.com/evaluating-the-benefits-of-flex-spending-and-health-savings-accounts-2/) - Most employees face countless and confounding options each year when they select their benefits. There is no unanimous choice in any benefit area, it really comes down to what the employee needs and will benefit from most, particularly long-term. Flex spending accounts and health savings accounts are very common options these days, particularly as employers
- [Employers: Why should you offer employee benefits?](https://ballastplan.com/employers-why-should-you-offer-employee-benefits-2/) - Key Takeaways: Strong benefits help retain employees, reducing training and turnover costs Benefits can benefit company culture (and productivity) through higher morale & reduced stress In some cases benefits can be more tax-beneficial to the employer in comparison to additional salary We have discussed at length the benefits that many employers may offer up and
- [Cash Flow Autopilot](https://ballastplan.com/cash-flow-autopilot/) - Setting goals is the first step in establishing a proper cash flow plan, then set up automatic debt-payoff / investment-savings strategies
- [Getting Creative with College Funding](https://ballastplan.com/getting-creative-with-college-funding-2/) - In our previous discussions about college planning, we’ve discussed where and how much to save while acknowledging that these questions require several assumptions. Is it sensible to make saving for college a major financial goal when there’s no guarantee the child will attend? That’s a tough question for families and for this reason, we favor educating
- [The Complicated Calculations of College Costs](https://ballastplan.com/the-complicated-calculations-of-college-costs-2/) - Parents of college-bound students are dealing with a chicken-or-egg dilemma. When it comes to student aid calculations, it just about requires a Ph.D. to understand how to fund a Ph.D. Different schools use different methods to evaluate different families, and when they get the results, they interpret them differently! Let’s wade into the wishy-washy world
- [College Savings Vehicles](https://ballastplan.com/college-savings-vehicles-2/) - So often in life and in financial planning, perfect can be the enemy of good. This is certainly the case when it comes to saving for college. There are many ways to go about it, but the most important choice is the choice to begin saving. Nonetheless, we often meet parents of five- and ten-year-old
- [Educating Heirs on Student Debt](https://ballastplan.com/educating-heirs-on-student-debt-2/) - One of my favorite television shows is Shark Tank, which shows aspiring entrepreneurs pitching their business plans to seasoned investors, the “sharks,” in hopes of an investment. The sharks use their own money to invest, so they ask tough questions to help evaluate the business’s potential. Have they demonstrated sales? How much does it cost
- [Determining a Retirement Savings Rate](https://ballastplan.com/determining-a-retirement-savings-rate-2/) - As we meet with new families, we continually hear the same two questions: 1) are we making good decisions with the money we earn, and 2) are we saving enough for retirement? These questions are typical whether a person is 35 years old or 55 years old. According to the Federal Reserve Bank of St.
- [Finding the Best Order for Funding Retirement](https://ballastplan.com/finding-the-best-order-for-funding-retirement-2/) - With a task as important as funding your retirement, determining which accounts to fund and in what order should not be taken lightly. Whether it’s a company plan, individual retirement account or taxable account, there are a lot of ways to save for retirement. So how do you decide where to put each dollar you
- [The Cost of a Spent Dollar – What Could an Investment Have Become Through the Years](https://ballastplan.com/the-cost-of-a-spent-dollar-what-could-an-investment-have-become-through-the-years-2/) - As we discuss retirement savings, one aspect that is worthy of consideration is the weighing of alternatives. Hindsight is always 20/20, but let’s consider the cost of a spent dollar throughout the years. Essentially, if you had $X in a given year, what is something that you could have purchased during that year compared to
- [Retirement Saving Myths and Misconceptions](https://ballastplan.com/retirement-saving-myths-and-misconceptions-2/) - We are fortunate to have a very educated and knowledgeable client base, but we are consistently surprised by the myths and misconceptions clients and prospects bring to the conversation. Below I have listed my Top 7 Myths and Misconceptions About Retirement Savings; it is by no means a complete list but highlights the most common
- [How Much is Enough – An Intro to Monte Carlo Simulations](https://ballastplan.com/how-much-is-enough-an-intro-to-monte-carlo-simulations-2/) - When it comes to retirement planning, one of the most often asked questions is, “What’s my number?” In other words, how much money do I need to save to retire comfortably? Simple, right? Well, not exactly — it’s far more than just a static number posted on our refrigerators. Although there are quick formulas and
- [How Will A Bear Market Affect Your Plan?](https://ballastplan.com/how-will-a-bear-market-affect-your-plan-2/) - In this week’s edition of the Ballast Atheneum, I am going to explore a subject no one wants to see but we all must prepare for; Will my portfolio survive a bear market? Fortunately, we can use some of our technology tools, specifically, Monte Carlo analysis to determine how prepared a client is for a
- [Insight into Fixed Income & Timing of Social Security](https://ballastplan.com/insight-into-fixed-income-timing-of-social-security-2/) - When entering retirement, the question of how to structure income can be the most influential factor in determining a family’s long-term financial well-being. Several factors such as income source, inflation, and sequence of returns present risks and opportunities for retirees. Today’s Atheneum discusses how we might explore retirement income with John and Jane Smith. They
- [The Grey Area of Paying Off a Mortgage Early](https://ballastplan.com/the-grey-area-of-paying-off-a-mortgage-early-2/) - A key question that soon-to-be retirees often face is whether or not to eliminate a debt before retirement. Generally, we would love to see all our clients enter their retirements debt free. However, there could be some instances where making monthly debt payments is not necessarily a bad thing (i.e., zero-percent financing on a car).
- [Testing the Challenges of a Long Retirement](https://ballastplan.com/testing-the-challenges-of-a-long-retirement-2/) - We often joke that our job was created because of increasing life expectancies and pensions seldom being offered. Obviously, finance and investing has become more complicated and there are an ever-increasing number of investment vehicles and planning strategies we help our clients choose between. We also know there is great value placed in our ability
- [The Forgotten Costs of Car Ownership](https://ballastplan.com/the-forgotten-costs-of-car-ownership-2/) - Key Takeaways: The average cost to own and operate a new vehicle in 2020 was $9,561. Cars tend to lose around 15–25% of their value each year for the first five years. In general, it’s cheaper to lease in the short term but cheaper to buy in the long term. As we continue to discuss
- [Paying Down Debt vs. Saving for Retirement](https://ballastplan.com/paying-down-debt-vs-saving-for-retirement-2/) - Here is one we hear all the time – “How can I save for retirement with all of these monthly debt payments?” For what is seemingly a simple question, the answer can actually be somewhat complicated. Striking the right balance between debt payments and savings contributions will vary with each household and the solution is
- [Cash Flow – The “B” Word](https://ballastplan.com/cash-flow-the-b-word-2/) - For many individuals, families, and even companies, the infamous “B” word causes undo stress, and anxiety, and at times, can even lead to arguments. As we look at our financial goals, many lists reference this “B” word as something they hope to achieve or implement. Today we will discuss the core of cash flow planning… BUDGETING! Budgeting
- [Student Debt Options for Graduates](https://ballastplan.com/student-debt-options-for-graduates-2/) - Although a minority of our clients have student debt, those that do not almost always have children or grandchildren planning on attending college. Costs of college attendance have inflated so fast that we discuss it with parents of newborns. We’re seeing a steady increase of borrowers with six figure debt levels, making student debt repayment
- [The Flexibility of Being Debt-Free](https://ballastplan.com/the-flexibility-of-being-debt-free-2/) - In our previous Atheneum commentaries on debt we’ve covered a myriad of topics including, good vs. bad debt, prioritizing debt payoff, and different mortgage planning strategies. We hope these commentaries have helped shed light on what we consider one of the most important topics in financial planning – debt analysis. Today we discuss what for
- [Second Mortgage Planning Strategies](https://ballastplan.com/second-mortgage-planning-strategies-2/) - Home Equity Loan vs. Home Equity Line of Credit For many households in America, the equity built in their home is one of their largest assets on their balance sheets. Historically, this asset has provided growth in value, as well as an opportunity to obtain a secured loan from a bank for short-term or long-term
- [Early Mortgage Payoff](https://ballastplan.com/early-mortgage-payoff-2/) - Although we spend a large majority of our time planning our clients’ investment portfolios, we believe advising on the entire client balance sheet is just as important. On the liability side of the balance sheet, a client’s primary mortgage is often a major talking point. The last decade has allowed homeowners ample opportunity to refinance
- [Prioritizing Debt Payoff](https://ballastplan.com/prioritizing-debt-payoff-2/) - Key Takeaways: Living within your means is a prerequisite to being able to pay down debt Tackling small debts first can establish confidence quickly Prioritizing highest interest debt is optimal – ONLY IF you stick with it In our first Atheneum article on debt, Brian discussed the difference between good and bad debts. He defined good
- [When is Debt OK and When is it Not?](https://ballastplan.com/when-is-debt-ok-and-when-is-it-not/) - Although it’s not always obvious, most debts can be defined as either positive or negative for your overall financial situation Not all debt is bad – when used properly it can actually be a catalyst for building wealth If a new debt does not have the potential to improve your long-term financial picture, waiting until
- [Planning for “Fixed” Income During Retirement](https://ballastplan.com/planning-for-fixed-income-during-retirement/) - Fixed income during retirement can help provide stability to a retirement income structure, with less dependence on the stock market. Just as there are risks to a market-based investment portfolio, a fixed income retirement strategy has positives and negatives. Fixed income structures must be analyzed across the life expectancy of the individual/couple. While some may
- [Planning for RMDs](https://ballastplan.com/planning-for-rmds/) - The vast majority of people save the bulk of their retirement funds in qualified retirement accounts (401ks, 403bs, etc.) and IRAs. Through regular saving and long-term growth of the investments inside these accounts, a typical account holder hopes to develop some type of an income stream during their retirement years. According to the US Census
- [Evaluating Pension Options](https://ballastplan.com/evaluating-pension-options-3/) - Each year we are seeing fewer workers covered by a company pension plan. Overwhelmingly companies are trending away from the traditional pension- a defined benefit, to a defined contribution plan like a 401k. By and large employers have decided that guaranteeing a retirement income is too expensive. If you are lucky enough to be in
- [Determining a Healthy Withdrawal Rate](https://ballastplan.com/determining-a-healthy-withdrawal-rate-2/) - One of the more arduous tasks facing retirees and soon-to-be retirees is trying to determine how much money can be withdrawn from retirement accounts each year without running out – yet not skimping yourself either. Solving this puzzle has become even more challenging given today’s low interest rate environment and tempered expectations for future investment
- [Benefits of Multiple Income Streams at Retirement](https://ballastplan.com/benefits-of-multiple-income-streams-at-retirement-3/) - In our second Atheneum article for this quarter’s Retirement Income subject, we discuss the benefit of having multiple income streams during retirement. To understand the advantage of having multiple income streams, it is important to first understand one of the most important factors that affects portfolio longevity when taking income: sequence risk. According to Investopedia,
- [Evaluating Old Life Insurance Policies](https://ballastplan.com/evaluating-old-life-insurance-policies-2/) - Not all financial decisions are made with a clean slate. Nearly everyone we meet has made choices both good and bad. Our approach has always been to look everything over with a critical but nonjudgmental eye and find the most appropriate way forward for the future. Often our first opportunity to practice this approach is
- [Property and Casualty Insurance](https://ballastplan.com/property-and-casualty-insurance-2/) - We all face the threat of a potentially catastrophic event every day, whether at home or at work, and we need financial protection against these inevitable risks. It’s virtually impossible to avoid risk – the good news is we as individuals and/or organizations have the ability to exchange some of these risks for premium payments
- [Insurance for Small Businesses](https://ballastplan.com/insurance-for-small-businesses-2/) - As an independent, locally owned firm, we have had the opportunity to learn about insurance needs first hand. While daunting at times, even for us who help advise others on insurance requirements, once a plan is in place we can personally attest to the peace of mind that it brings. Many small business owners wear
- [Long Term Care Overview](https://ballastplan.com/long-term-care-overview-2/) - One of the most intimidating and misunderstood areas in financial planning is Long Term Care Planning. In general, long-term care is classified as ongoing healthcare needs for the basic activities of daily living such as eating, bathing, dressing, and transferring. In most cases, a person who cannot perform even a few of these activities independently
- [Disability Insurance – Protecting Families and Businesses from Disaster](https://ballastplan.com/disability-insurance-protecting-families-and-businesses-from-disaster-2/) - According to the Social Security Administration, just over 1 in 4 of today’s 20-year-olds will become disabled before reaching retirement age¹. With such high odds of experiencing a disability for some period of time, it is clear that financial plans should consider ways to limit the financial impact of disability. After all, when someone becomes
- [Life Insurance – Protecting Against the Unexpected](https://ballastplan.com/life-insurance-protecting-against-the-unexpected-2/) - Coming in at number two (just behind estate planning) on the list of dreaded-but-necessary financial to-do’s is life insurance, because, let’s be honest, no one wants to reflect on the circumstances in which life insurance would come in handy. We’ve heard nearly every reason in the book as to what keeps people from getting the
- [Risk Management in Estate Planning](https://ballastplan.com/risk-management-in-estate-planning-2/) - When thinking about estate planning, most people think solely about how their assets will be distributed at their death. Obviously, that is of primary concern but many of our clients’ estate plans encompass the often-neglected area of risk management. In each of our lives, there are risks that must be considered and therefore planned around.
- [The Benefits of a Simplified Estate Plan](https://ballastplan.com/the-benefits-of-a-simplified-estate-plan-2/) - Thus far in the Estate Planning section of the Ballast Atheneum, we have discussed an introduction to estate planning, probate, trust planning, and planning for a legacy – all of these topics can be expanded upon significantly. However, this week we thought it would be important to discuss simplifying an estate plan. Most estate planners,
- [Charitable Estate Planning](https://ballastplan.com/charitable-estate-planning/) - Estate planning can achieve many goals, from simple to complex. The foundations of good estate plans we have discussed thus far in our Atheneum articles make sure that a family has formalized their personal wishes to make for a graceful transition to the next generation. Many families wish not only to provide for their next
- [Trusts as Estate Planning Tools](https://ballastplan.com/trusts-as-estate-planning-tools/) - A trust allows the grantor to put conditions on how certain assets are distributed It is important to understand the critical distinctions between revocable and irrevocable trusts The SECURE Act might disrupt the estate planning many have done with their retirement accounts The topic of estate planning is one that many would like to avoid
- [Demystifying Probate](https://ballastplan.com/demystifying-probate/) - While going through probate may appear daunting and overwhelming, with proper guidance, the process can be quite easy. There are common positives to go through probate, such as a shorter period during which a creditor can make a claim on a deceased person’s estate. Avoiding probate can help provide privacy to a deceased person’s estate
- [What Comprises A Sound Estate Plan?](https://ballastplan.com/what-comprises-a-sound-estate-plan/) - There is no more important aspect to your financial plan than an estate plan. That might seem to be a shocking statement to some and that is likely because of the misconception of what comprises a comprehensive estate plan. While most clients come to us focused on their investment portfolio and cash flow needs, we
- [Retirement Savings](https://ballastplan.com/retirementsavings/) - How much do you need to save for retirement? Which account types should you use? Given multiple options, where should you save your money first?
- [Silicon Valley Bank, Likely Implications, and Client Action](https://ballastplan.com/silicon-valley-bank-likely-implications-and-client-action/) - The NYSE announced that trading on Silicon Valley Bank had halted. Two days prior, SVB needed to raise capital due to losses they experienced to meet demands.
- [The Unanswered Economic Questions About Hybrid Work](https://ballastplan.com/the-unanswered-economic-questions-about-hybrid-work/) - Key Takeaways Remote work may be the largest modern shift in employer-employee relations Current tight labor markets have accelerated the trend, perhaps permanently These unanswered questions will determine the future of our economy The trend of changing office work environments is real and significant. According to a recent study conducted by McKinsey¹ that surveyed 100
- [Positive Signs of a Growing Economy](https://ballastplan.com/positive-signs-of-a-growing-economy/) - Key Takeaways: Publicly traded companies will be releasing earnings reports over the next several weeks. Economists believe growth so far coupled with forecasted growth for the remainder of the year will result in great GDP growth. Consumers are still holding abnormally large amounts of cash savings, setting the stage for a large return of consumer
- [Determining a Retirement Savings Rate](https://ballastplan.com/determining-a-retirement-savings-rate/) - As we meet with new families, we continually hear the same two questions: 1) are we making good decisions with the money we earn and 2) are we saving enough for retirement? These questions are typical whether a person is 35 years old or 55 years old. According to the Federal Reserve Bank of St.
- [Upcoming Child Tax Credit Checks: Not Free Money](https://ballastplan.com/upcoming-child-tax-credit-checks-not-free-money/) - Max Child Tax Credit now $3,600/child under 6; $3,000 ages 6-17 Even high-income families will receive 50% advances on these credits Advance payments can increase your tax bill next year, all else equal If you take a vacation in the middle of this month, you may come home to a surprise check in the mail.
- [Giving Strategy for Charity Gala Season](https://ballastplan.com/giving-strategy-for-charity-gala-season/) - Fewer than 15% of taxpayers itemize deductions since 2018 tax reform. Timing the donations you already plan to make can maximize tax deductions. Your charities can still receive stable monthly income via a Donor Advised Fund. This week marks the first official week of summer and, at least for my family, this change of season
- [Robinhood and a New Generation of Investors](https://ballastplan.com/robinhood-and-a-new-generation-of-investors/) - Warren Buffett is one of the most famously successful investors of all time and his firm, Berkshire Hathaway, trades today near its all-time high, closing Friday at $433,124/share. Mr. Buffett has stated that he does not intend to split these original A shares as they attract like-minded, long-term investors. However, Berkshire did issue B shares
- [The Economy’s Return to Normal](https://ballastplan.com/the-economys-return-to-normal/) - Key Takeaways: Economic data indicates a return to pre-pandemic levels of activity A tight labor market has contributed to some wage inflation Inflation, wages/jobs, supply chain issues will continue to be areas of interest As kids return to school, summer trips come to an end, and everyone starts to eye the holidays, investors and
- [The Power of Homeownership](https://ballastplan.com/the-power-of-homeownership/) - Key Takeaways: Having a fixed-rate mortgage keeps a large portion of your budget constant versus the variability of rental costs Lower expenses in retirement creates more disposable income, greater flexibility in combatting rising costs, and the ability to invest Saving what’s left rarely works - making monthly mortgage payments creates a forced savings vehicle saving
- [The Cost of a Spent Dollar – What Could an Investment Have Become Through the Years](https://ballastplan.com/the-cost-of-a-spent-dollar-what-could-an-investment-have-become-through-the-years/) - As we discuss retirement savings, one aspect that is worthy of consideration is the weighing of alternatives. Hindsight is always 20/20, but let’s consider the cost of a spent dollar throughout the years. Essentially, if you had $X in a given year, what is something that you could have purchased during that year compared to
- [The Latest on Inflation/Rates and Where We Go from Here](https://ballastplan.com/the-latest-on-inflation-rates-and-where-we-go-from-here/) - Without question, over the past year, the most common topic we have discussed with clients is inflation and rates. Whether you are in retirement, peak accumulation years, or just starting out, inflation has impacted everyone… from raised costs at the grocery store, to travel, to even attending a sporting event. Fortunately, there are increasing signs

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- [Maximize Your Business Sale](https://ballastplan.com/business/) - By Ballast Business Planning: Maximize Your Business Sale Thinking about selling your business? Or are you already prepared to sell your business? Don’t miss this crucial roadmap to maximize your profits! Selling your business is a huge milestone—but are you fully prepared to get top dollar? Discover Ballast’s exclusive series of whitepapers, packed with expert insights
- [Essential Financial Tips Before, During, and After a Divorce](https://ballastplan.com/divorce/) - By Ballast Divorce Planning: Preparation and Post-Divorce Your situation is unique and full of complexities. That’s where Ballast thrives. These guides are intended to spark conversation and provide high-level suggestions for any life event. For detailed, specific advice tailored to your unique situation, we’re here for you and ready to help. Click “Download Now” to
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## Team Members

- [Brizia Palmer](https://ballastplan.com/team_members/brizia-palmer/)
- [Cameron Hamilton, CFP®, MBA, CPWA®](https://ballastplan.com/team_members/cameron-hamilton-cfp-mba-cpwa/)
- [Jake Nahra](https://ballastplan.com/team_members/jake-nahra/)
- [Trent Lakes, CFP®](https://ballastplan.com/team_members/trent-lakes/)
- [Madeline Flynn Burgess](https://ballastplan.com/team_members/madeline-flynn/)
- [John V. Boardman, III, CFP®, CPWA®](https://ballastplan.com/team_members/john-v-boardman-iii-cfp-cpwa/)
- [Catherine Richmond, MS](https://ballastplan.com/team_members/catherine-richmond/)
- [Jeff Lehmann](https://ballastplan.com/team_members/jeff-lehmann/)
- [Brian Burton, CFP®, CIMA®](https://ballastplan.com/team_members/brian-burton-cfp/)
- [Frank E. Yozwiak, CFP®, J.D., LL.M. in Taxation](https://ballastplan.com/team_members/frank-e-yozwiak-cfp-j-d-ll-m-in-taxation/)
- [Andy Reynolds, CFP®, CEPA®, MBA](https://ballastplan.com/team_members/andy-reynolds-cfp-mba/)
- [Christopher Benge](https://ballastplan.com/team_members/christopher-benge/)
- [Dereka Bradley](https://ballastplan.com/team_members/dereka-bradley/)
- [Carole Simpson](https://ballastplan.com/team_members/carole-simpson/)
- [Kristopher Bowerman](https://ballastplan.com/team_members/s-kristopher-bowerman/)

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## Tags

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- [interest rates](https://ballastplan.com/tag/interest-rates/)
- [federal reserve](https://ballastplan.com/tag/federal-reserve/)
- [inflation](https://ballastplan.com/tag/inflation/)

## Authors

- [John Boardman](https://ballastplan.com/author/john-boardman/)
- [Andy Reynolds](https://ballastplan.com/author/andy-reynolds/)
- [Cameron Hamilton](https://ballastplan.com/author/cameron-hamilton/)
- [Brian Burton](https://ballastplan.com/author/brian-burton/)
- [Frank Yozwiak](https://ballastplan.com/author/frank-yozwiak/)
- [Team Ballast](https://ballastplan.com/author/team-ballast/)
- [General](https://ballastplan.com/author/general/)
- [Jeff Lehmann](https://ballastplan.com/author/jeff-lehmann/)
- [Trent Lakes](https://ballastplan.com/author/trent-lakes/)
- [Madeline Flynn Burgess](https://ballastplan.com/author/madeline-flynn-burgess/)
- [Madelyn Mozeleski](https://ballastplan.com/author/madelyn-mozeleski/)
- [Catherine Richmond](https://ballastplan.com/author/catherine-richmond/)

## Staff Types

- [Advisor](https://ballastplan.com/staff_type/advisor/)
- [General](https://ballastplan.com/staff_type/general/)