Financial Planning - Signature Wealth Management Group

Home Runs and Hard-Earned Savings: Comparing the Atlanta Braves’ 2023 Baseball Season to Personal Finances

As the Atlanta Braves gear up for the playoffs, there's a curious parallel that can be drawn between the world of professional sports and our personal finances. While these two domains may seem worlds apart, they share common threads of planning, management, and the pursuit of success. In this article, we'll explore how the Braves' baseball season resembles our own financial journeys and what lessons we can glean from their playbook. Setting Clear Goals: Just as the Braves aim to win games and, ultimately, the championship, we set financial goals [...]

By Russell Harris|2024-01-30T18:39:35-05:00October 3, 2023|Financial Planning, Of Interest|

Things to Consider When Offered a Severance Package

Getting offered a severance package from your employer can be an exciting and nerve-racking situation, all at the same time. It is important to take a moment and understand your personal situation. It is essential to carefully consider the terms and implications before making a decision. Here are some key factors to take into account: Package Details: Review the specific terms of the severance package, including the amount of compensation, the duration of payments, and any additional benefits (e.g., continuation of health insurance, outplacement services, or retirement account contributions). [...]

By Russell Harris|2024-01-30T18:46:46-05:00September 22, 2023|Financial Planning|

Unique Advantages of Health Savings Accounts | Tax Advantaged Savings

These tax-advantaged savings accounts can help you cover your health care expenses A health savings account (HSA) is a tax-advantaged savings account that allows individuals with high-deductible health plans to set money aside for medical expenses. These accounts offer unique tax benefits and can even be savings tools for retirement. What is a health savings account and how do you qualify? An HSA allows you to contribute pre-tax funds and make tax-free withdrawals to pay for qualified medical expenses, like prescriptions, co-pays, or dental care. It is a way to [...]

By Russell Harris|2024-01-30T19:33:36-05:00August 30, 2021|Financial Planning, Insurance, Retirement Planning|

Exploring the Implications of Restricted Stock Units

Exploring the implications of Restricted Stock Units on #taxes #compensation #wealthmanagement #SignatureWMG In the corporate world, there are a lot of unique compensation packages that include more than just the standard salary, insurance, paid leave, and 401(k) and/or pension. These packages present their own unique challenges for employees to properly manage their benefits. Improper planning can lead to unnecessary tax events, a mismatch in retirement needs to asset levels, or general confusion about the salary packages and the benefits they provide. One of the more confusing packages available to employees [...]

By Russell Harris|2024-01-30T19:34:24-05:00July 22, 2021|Financial Planning, Investments|

2021 Is Halfway Over: How to Conduct a Mid-Year Financial Checkup

Summer is finally in full swing, meaning we’re already about halfway through 2021. After a year like no other, we’re all excited to enjoy the warm weather with friends and family. If you have some time over the coming weeks, take a moment to slow down and check up on your financial wellbeing. Here are six things you can do right away to make sure your goals are being met and your finances are in good shape before heading into the second half of 2021. Review Your Budget It’s possible [...]

By Russell Harris|2024-01-30T19:35:18-05:00July 1, 2021|Financial Planning, Investments|

5 Tips to Getting Started With the Business Transition Process

At the most basic level, business transition planning is a strategy that can be put into play when a business is sold or changes hands. For company owners nearing retirement, a successful transition plan can play an important part in creating and preserving the value of the business after its changed hands. Here are some tips to keep in mind if you want to maximize the return on your investment as you prepare for retirement. Tip #1: Evaluate Your Market Potential Take a long, honest look at your business [...]

By Russell Harris|2024-01-30T19:37:09-05:00May 18, 2021|Financial Planning, Retirement Planning|

Military Appreciation Month | 5 Financial Tips For Every Military Family

In honor of Military Appreciation Month, we’re recognizing those in the military as well as their families. Military members and their families face one-of-a-kind challenges, such as deployment to conflict zones, overseas assignments and the constancy of change - all of which make dedicating time to personal finance a challenge. Luckily, there are special tax breaks and other benefits unique to service members. Follow these five tips to take advantage of potential benefits and simplify your military family’s personal finances. Tip #1: Focus on Retirement Savings The Thrift Savings Plan is [...]

By Russell Harris|2024-01-30T19:37:22-05:00May 3, 2021|Financial Planning, Of Interest|

April Is Financial Literacy Month. Do You Have These 5 Finance Basics Down?

Working with a trusted financial professional is important when it comes to strategizing and preparing to meet your financial goals. But as most of us handle money on a daily basis, it’s important to have an in-depth understanding of the fundamentals of financial literacy. Below we’ve identified five financial basics everyone should know. Understanding these important concepts can serve as a basis for your financial standings. Basics #1: Debt & Credit Scores Understanding the ways in which credit or debt can work with or against you should serve as the [...]

By Russell Harris|2024-01-30T19:37:34-05:00March 11, 2021|Financial Planning|

Women and Wealth: Taking Charge of Your Finances

When it comes to financial planning, women are likely to face different challenges than men. For one, they earn less than men on average, and they’re more likely to work part-time jobs or take time away from their careers to raise children and care for family. Time off and lower lifetime income means women face unique financial planning challenges. Here’s a look at some common financial issues women face and strategies to address them. Less income means less money to devote to savings On average, women earn just over $0.80 [...]

By Russell Harris|2024-01-30T19:37:44-05:00March 4, 2021|Financial Planning|

4 Smart Money Moves for 2021 | Brighten Your Financial Life

With the new year in full swing, it’s a great time to take stock of your personal finances. From building a budget and saving for retirement to getting a jump on this year’s taxes, here are some of the smart money moves to consider to help brighten your financial life in the new year. 1. Build a budget Creating a monthly budget can help you better understand your spending and identify how much money you can put toward your financial goals. First, take your monthly salary or wages after taxes [...]

By Russell Harris|2024-01-30T19:38:59-05:00January 7, 2021|Financial Planning|

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