New Legacy Financial

08/07/2026

🎉 Trivia Thursday Answer!
The correct answer is...
✅ B — Traditional IRA
Here's why:
A Traditional IRA is often the most tax-expensive account to inherit because withdrawals are generally taxed as ordinary income. Under current rules, many non-spouse beneficiaries must empty the account within 10 years, which can push them into higher tax brackets depending on their own income.
Here's how the others compare:
✅ A — Roth IRA: Generally, qualified withdrawals are tax-free. Most non-spouse beneficiaries still have to empty the account within 10 years, but those distributions are typically not taxable.
✅ C — Taxable Investment Account: Most inherited investments receive a step-up in cost basis to their fair market value at the owner's death. That means if they're sold shortly afterward, there may be little or no capital gains tax.
✅ D — Life Insurance Proceeds: In most cases, life insurance death benefits are received income tax-free by beneficiaries.
💬 How many of you picked the Traditional IRA?
Retirement isn't just about growing your money—it's also about how you leave it to the people you love. A thoughtful distribution strategy can make a meaningful difference in what your heirs ultimately keep.

08/06/2026

🧠 Trivia Thursday
You inherit $500,000.
Which type of account could potentially leave you with the largest tax bill?

🅰️ Roth IRA
🅱️ Traditional IRA
🅲️ Taxable investment account
🅳️ Life insurance proceeds

👇 Comment A, B, C, or D—and tell us why.
No changing your answer after the reveal. 😏
We’ll post the answer tomorrow!

07/30/2026

Your 401(k) doesn't have to wait until retirement to get professional management.
Many people assume they can't work with a financial advisor until they leave their job or retire. That's simply not true.
At New Legacy Financial, we can help manage your employer-sponsored retirement account without moving it or rolling it over.*
We help you:
✔ Build an investment strategy based on your goals and risk tolerance
✔ Determine how much to contribute from each paycheck
✔ Monitor your progress toward retirement
✔ Make investment adjustments as your needs change
✔ Stay on track while your money remains in your employer's retirement plan

This service is ideal for employees who are still working, still contributing to their retirement plan, and want professional guidance without waiting until retirement.
If you'd like to find out whether your employer's retirement plan is eligible, reach out to us for a complimentary consultation.
📞 We'd be happy to help.
*Available for eligible employer-sponsored retirement plans.

07/04/2026

Happy 4th of July!

07/02/2026

03/18/2026

Retirement planning is about more than just growing your investments. For many people age 55+, the biggest questions are really about how to turn savings into income, reduce unnecessary taxes, make confident decisions around Social Security, and retire with a clear plan.
Too often, people spend years focused on accumulation and only start thinking about distribution when retirement is right in front of them. But the years leading up to retirement can be some of the most important for getting the details right.
If you’re in or near retirement, what feels like the biggest question on your mind right now?

03/05/2026

Stocks were mixed in February as AI disruption concerns and escalating geopolitical tensions weighed on investor sentiment. The S&P 500 slipped 0.87% and the Nasdaq fell 3.38%, while the Dow edged up 0.17%. Canada’s S&P/TSX advanced 7.57%. As attention turns to the Fed’s March meeting and its updated Summary of Economic Projections, markets will be watching closely for signals on the path ahead. From 73% of the world’s maple syrup produced in Canada to a \$1.64 billion global market, this month’s by-the-numbers highlights the industry behind one of North America’s most iconic products.

Monthly Market Insights | March 2026 U.S. and Canadian Markets U.S. stocks struggled in February amid fears that artificial intelligence would disrupt a wide swath of industries, unsettling investors. Late in the month, geopolitical concerns weighed on the market amid tensions in the Middle East. Th...

02/06/2026

Stocks climbed in January as solid economic data offset geopolitical tensions. The S&P 500 rose 1.37%, the Dow gained 1.73%, and Canada's TSX picked up 0.66%, setting multiple record highs early in the month. The Fed held rates steady as expected, with all eyes now on the March meeting. From \$27.5 billion spent in the U.S. to \$97.80 per person in Canada, Valentine's Day spending spans the globe. Check out this month's by-the-numbers.

Monthly Market Insights | February 2026 U.S. and Canadian Markets Stocks climbed in January as the tailwinds of solid economic data offset the headwinds of geopolitical tensions that rattled investors during the month. The Standard & Poor’s 500 Index advanced 1.37 percent, while the Nasdaq Composi...

02/01/2026

Do you know the origins of Black History Month? Join us as we learn about the inspired legacy of Dr. Carter G. Woodson, a man who saw the value of history and the lessons we can learn for the future.

This month, the movement he founded turns 100 years old. This celebration is an opportunity to admire the brilliance and passion of those who have come before us.