jprior@prosperiamarketing.com

Big changes are coming to retirement planning in 2025, and they could have a major impact on your financial future. With tax laws shifting, Social Security rules evolving, and contribution limits increasing, now is the time to take a closer look at how these updates might affect you. Whether you're nearing retirement or fine-tuning your long-term financial plan, staying informed will help you make the most of new opportunities and sidestep unexpected challenges. In this article, we’ll break down the key changes taking effect in 2025, explore their potential impact on your retirement savings, and outline actionable strategies to help Read More

As February comes to a close, many people are gearing up for April’s tax deadline. But while tax season itself may be an annual event, the financial decisions you make throughout the year can greatly influence your financial well-being. Without ongoing planning, you might miss saving opportunities and face unnecessary stress when April rolls around. Year-round tax planning shifts the focus from simply filing returns to strategically optimizing your tax situation throughout the year. By taking a proactive approach, you can minimize liabilities, maximize deductions, and ensure you’re making the most of your hard-earned wealth. Tax Preparation vs Tax Read More

When it comes to retirement planning, one of the most commonly cited guidelines is the 4% rule. It’s been used for decades as a straightforward way to gauge how much you can safely withdraw each year without running out of money prematurely. But is this “one-size-fits-all” rule still effective in today’s economic environment? The short answer: It depends. With longer life expectancies, rising living costs, and unpredictable market conditions, sticking rigidly to the 4% rule may not be the best approach anymore. Here, we’ll break down the 4% rule, why it may need rethinking, and alternative strategies to build Read More

Inheriting a substantial sum of money is a life-changing event. It can bring good fortune and new opportunities but also unexpected challenges — both financial and emotional. Many heirs feel a rush of excitement, quickly followed by feelings of isolation, anxiety, confusion, or even guilt. If you’ve recently come into a large inheritance, you might be asking yourself: Am I making the right financial choices? Should I spend, save, or invest? How do I ensure this wealth lasts for future generations? These concerns are completely normal. Sudden wealth requires careful financial planning to maximize its benefits and avoid common financial missteps. Read More

Tax season is around the corner — a time full of forms, rules, and terminology. Among the many terms you'll encounter, two of the most common are "tax credit" and "tax deduction." Both can lower the amount of taxes you owe, but they work in different ways and can have varying impacts on your tax returns. Here, we break down the distinctions between the two, so you can craft a smart tax strategy that maximizes your savings and supports your financial goals. What Is a Tax Credit? A tax credit is a dollar-for-dollar reduction in your tax liability. In Read More

Change is on the horizon for taxpayers as 2026 comes over the horizon. The Tax Cuts and Jobs Act (TCJA), a major reform passed in 2017, brought a host of benefits to higher-income earners. However, these provisions were never meant to last forever. Known as the “sunset,” many of these changes are set to expire unless Congress acts to renew them. What does this mean for you and your financial plan? Higher taxes, altered deductions, and shifting tax strategies could all be part of the picture. Whether you’re planning for retirement or simply trying to maximize your yearly tax Read More

Personal financial planning can feel overwhelming, and even those with high incomes aren’t immune to costly missteps. The good news is that with some planning and expert guidance, you can avoid these common financial mistakes. Not sure where to begin? In this blog, we highlight five common financial pitfalls and show you how enlisting the expertise of a trusted advisor can help you steer clear of them. To make your search easier, we’ve also included a Financial Advisor Comparison — a handy tool to help you find the right partner for your financial journey. Overlooking Tax Opportunities Taxes are a Read More