Lauren Tschider - Horizon Wealth Partners

04/26/2023

Something I've been thinking a lot about lately - the misconception that wealth equates to happiness, and that the wealthier you are, the happier you must be.

Imagine two different scenarios:

Scenario 1: you get to 65 or your ideal retirement age, and you don't have enough money to retire. All those years of working, you're ready to be done, but you can't comfortably retire with the assets you have. Failed plan.

Scenario 2: you get to retirement, and you have way too much money (yes, that is a thing). You wish you could go back, spend more time with your family, take more trips, and have more fun. Instead, you have a stupid amount of money that you're never going to spend, money that you’d trade to go back in time. Another failed plan.

Obviously wealth is important, but so is living. The magic is in between these two scenarios, the happy medium, being on track for your goals but also living for today. Financial planning allows people to do just that.

02/27/2023

As per usual, the tax code experienced a number of changes in 2022. The IRS sure likes to keep us on our toes. Reach out if you have questions about how the recent IRS changes may affect you and your financial plan.

The IRS says tax-law updates for the 2022 tax year could mean smaller-than-usual refunds for most taxpayers. Here are the biggest changes you need to know about.

02/24/2023

Happy Friday! Welcome to this week's edition of Females and Finance Friday.

Last week we discussed the absence of retirement planning for women, especially those at or nearing retirement. This week, we will cover a more positive topic - wealth and the amount that women control.

According to CNBC, by the end of 2020 women controlled more than $10 trillion of the wealth in the US. This is predicted to triple by the end of the decade, largely because women tend to live longer than men and a large amount of wealth will be transferred to the surviving spouse. Ladies, that's $30 trillion! This is huge! This also means that, by choice or not by choice, women will be making a lot of financial decisions down the road. I encourage you to start making them now, and to start increasing your financial literacy now, so that when these big money moves happen down the road you can make educated decisions with confidence. Start preparing for the future and start now.