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A 2023 Insurance Barometer Study found a record-high number of consumers plan to purchase life insurance over the coming year. Undoubtedly, this increased demand is fueled by younger adults entering the workforce and starting families, two common times for policies to be started. Read more…

The 60/40 portfolio is dead! Articles with this headline hit the financial media circuit at least once a year. Read more…

Congratulations! Your employer has an Employee Stock Purchase Plan (ESPP)! It’s easy to know what to make of excellent healthcare or an annual bonus, but it’s harder to wrap your head around how to participate in a well-managed ESPP. Should you participate? How much should you contribute? Is it Read more…

Equity compensation comes in several forms, including stock options, restricted stock units and employee stock purchase plans (ESPP). Each type of equity grant gives employees a stake in their employer’s financial success and a chance to boost their income. Read more…

If you’ve outgrown DIYing your investment management strategy, you have two options — use a robo-advisor or work with a wealth manager. Read more…

For many people, the question “How much can I save into my 401(k)?” has a simple answer. If you are under age 50 in 2024 you can save $23,000 into your 401(k). If you are over 50 you can save $30,500. Read more…

Nobody wants to see their portfolio balance drop in a down market. But if you invest for the long term, experiencing ups and downs along the way is inevitable. Tax loss harvesting is one way to use market volatility to your advantage and keep your financial plan moving in the right direction. This Read more…

Entrusting the management of your portfolio to a financial advisor is a tough decision, but there is hard data that highlights the benefits that a seasoned wealth manager can provide. In the U.S. alone, there are over 330,000 financial advisors, and that number is expected to reach nearly 400,000 Read more…

We set out on a mission to do two critical things while celebrating 40th years in business: share the philosophy and stories that have contributed to our success over decades and chart a course for where we expect to go in the coming years. Read more…

Navigating the world of wealth management can be overwhelming and time-consuming. It also requires a certain level of financial expertise when dealing with investment risks. Read more…

Only 31 percent of non-retirees think their retirement saving is on track, according to the Federal Reserve's Report on the Economic Well-Being of U.S. Households in 2022. Read more…

A recent deep-dive into the true costs of car ownership found that the average car owner logs 13,500 miles on their car every year. That number of miles can put big-time stress on your vehicle and cause costly repairs, not to mention the additional expense to register, insure, and fuel your car. Read more…

Roth IRAs are an essential part of a diversified retirement plan. The most significant benefit of a Roth IRA is its potential to deliver massive tax savings over time. Read more…

Congratulations! You have successfully reached a significant financial milestone that many aspire to but few achieve: a maxed-out 401(k). This is a great achievement on your journey toward a secure retirement plan and should be celebrated. Read more…

Growing your wealth is important. So is safeguarding it. This is where insurance for your financial accounts and assets comes in. Read more…

“I want to go somewhere in the south that has football.” Read more…

The medical profession requires an unwavering commitment to saving lives and caring for others, making it a demanding yet noble career. As a physician, you may also come across challenges outside of work. Tasks such as managing your finances and asset protection can be overwhelming on top of your Read more…

Did you know that most Americans don't have a solid financial plan or enough emergency savings in place? In fact, only 30% of households in the U.S. have financial plans. This staggering figure underscores just how essential financial planning is—even for those who feel they have their finances Read more…

Around 72% of Americans do not currently feel financially secure; however, over 40% believe they will achieve financial freedom eventually. But what does financial freedom mean? Because personal finance is a broad topic with many approaches, it's important to know that financial freedom is not a Read more…

We live in uncertain times. The deluge of depressing news only reminds us of the many things that are out of our control. Read more…

They say, "It takes a village to raise a child." Likewise, it takes a team to direct your family's financial future. This no-nonsense guide to setting your family's financial plan will help you make better decisions no matter your family budget or current financial situation. Read more…

Don’t put all your eggs in one basket. We’re taught this from a young age as a basic way to understand that failing to diversify in a variety of scenarios increases risk of a negative outcome, and your finances are no different. The future is not predictable, and even seemingly rock-solid stocks Read more…

Whether you planned to have a house full of kids or no kids at all, you’re probably reading this because you are expecting a little one of your own. Congratulations! Read more…

Is financial planning a good idea? The short answer is yes, it is definitely a good idea if you want to secure a strong financial future. Read more…

Until you are faced with a situation where your health is at risk, you might not grasp just how intertwined health and wealth really are. In fact, with the rising cost of healthcare, health-related concerns are one of the top disruptors to building wealth and passing along a legacy to the next Read more…

Everyone is familiar with “Generation X,” but did you know it has garnered another term? Gen X is also called the “sandwich generation,” describing individuals who are simultaneously caring for their children as they enter adulthood and their aging parents who require more support. Read more…

No one plans on getting divorced, but planning for the unexpected allows you to save and protect more than just your assets. At Plancorp, we have seen first hand the impact divorce has on families and some of those negative aspects could have been avoided had an appropriate estate plan been Read more…

Are you seeking to craft a strong estate plan? Or do you simply wish to ensure that some of your assets are properly cared for? Either way, you’re likely digging in on how to arrange a trust. Read more…

As a firm, we pride ourselves on always doing what's best for out clients, including preparing them for the future beyond their financial plan. As we celebrate 40 years of service, we've been thinking back to just how much the world has changed since we opened our doors in 1983. Read more…

The wealth management industry currently has assets under management (AUM) above $100 trillion. That number is estimated to reach $145 trillion by 2025. More and more high net worth Individuals (HNIs) — people with investible assets over $1 million — are trusting their financial planning to Read more…

You've probably seen media reports of successful business owners or celebrities facing financial challenges and wondered how that could happen. It may be surprising that they've gone through bankruptcy or foreclosure, but it turns out that people with high income can be just as susceptible to Read more…

Carefully planning your financial future helps you meet goals and provide for loved ones and future generations. However, choosing the right types of investments, insuring your livelihood and possessions appropriately, minimizing tax liabilities, and crafting an estate plan can be difficult without Read more…

Earning capacity and money management skills don't always go hand-in-hand. If you're a high earner with high levels of debt, you aren't alone, but there are key steps you should be taking to get on the path to financial independence. Once you understand your comprehensive financial picture, the Read more…

When can I retire? Can I afford to send my child to a good college? Will I be able to take the trip to Italy with my parents which they still can? Read more…

Related Episode We all find some degree of our purpose and identity in the work we do. As we contemplate a potentially near-term transition into retirement, it’s natural to understand the importance of being sure you’re financially ready. However, it is equally important to ensure that you are Read more…

Ensuring our children become financially stable doesn’t always mean that we leave them everything needed to have a cozy life. Generational wealth most often comes from helping them establish themselves, wander out into the world, and learn to thrive. Read more…

It’s hard to imagine a time when the United States felt new, small, or untested. We take the bonds and securities issued multiple times a week these days for granted, but just over 100 years ago, you may be surprised to know that every single debt issued was directly authorized by congress. Read more…

Being involved with a non-profit organization likely means you're driven by a strong sense of passion and purpose. However, have you ever paused and considered that overseeing your non-profit's financial assets is equally vital to your success as the mission you advocate for? Read more…

Marriage is an exciting time for anyone, but special considerations exist for high-net-worth individuals. Real financial concerns are common: Should you consider combining finances after marriage? What sort of debt are you each bringing into the marriage? If you have more money, how will you manage Read more…

Estate Planning is a broad term, often overwhelming and misunderstood. Some people think only the “wealthy” need an Estate Plan, but the bottom line is most everyone should have a basic Estate Plan. Estate Planning is a topic near and dear to our hearts as we work with many clients to help develop Read more…

A key marker of personal financial success is building generational wealth. If managed appropriately, generational wealth can maintain family-owned businesses, develop financial literacy for years, and generate passive income for future family members through investments. More importantly, Read more…

Despite recent downward trends, the facts are stark: More than 689,000 people divorced in 2021. These high numbers reveal a fundamental truth: Every year, hundreds of thousands of Americans discover just how complicated divorce finances can be. As a result, there are multiple questions to answer. Read more…

Introducing self canceling installment notes (SCINs): a unique form of promissory note that allows buyers and sellers to securely transfer real estate, business interests, and other assets while helping to optimize income, gift and estate taxes. Read more…

Financial planning is an important part of achieving your life goals and securing your future. The right approach develops a comprehensive but approachable plan that grows and protects your assets and gives you the independence to pursue passions; but it's not a one-size-fits-all approach. Someone Read more…

Planning for a strong financial future and achieving your financial goals requires developing a comprehensive strategy. A well-built plan will typically involve both short-term and long-term goals, and will also take into account unexpected events that could otherwise negatively impact your Read more…

Love should always be the primary reason for two people to tie the knot, but the financial benefits of marriage are an added incentive. From the tax benefits of marriage to changes in Social Security and even the correlation between marriage and credit score, there’s a lot to be aware of after you Read more…

This past summer my family went on a much-anticipated trip to Mexico. We had delayed our plans from 2020 to celebrate my parents retirement a few times and were finally going to relax and enjoy time together on the beach. What started as a great vacation quickly tested us all physically and Read more…

When it comes to tax and financial planning, all of us — especially those with a high net worth — try to be proactive by maximizing the power of our money. To that end, many hire a financial advisor early on to help them get started with a solid spending and investment plan. But after a few years Read more…

Over the last few months, particularly as interest rates have climbed, I have had clients reach out about helping their children with purchasing a home. If this is something you’re considering, I've outlined considerations and options to help ensure your generosity doesn't de-rail your retirement Read more…

Protect Your Net Worth with Tax Planning Strategy Taxes are an inevitable part of life, but that doesn't mean you have to let them steal your future. With proper tax planning as a part of your holistic financial plan, you can protect your family's finances and make the most of your hard-earned Read more…

Understanding market expected return and the Capital Asset Pricing Model (CAPM) for estimating returns is important for any investor. This article provides an overview of how the CAPM helps determine expected stock market returns and how much the stock market has returned throughout its history per Read more…

Most savvy business owners develop a business plan that includes an exit strategy. However, many companies fail to put a succession plan in place. In fact, only 34% of family-owned businesses have a succession plan , and those are usually very informal — meaning most don't survive for later Read more…

My grandfather (we called him Pappy-O) passed away recently, after almost two years of entrapment in his body and his mind. He was the father of three children, grandfather of six, and married to my grandmother (Mammy-O) for 65 years. For most of those years, he drank a cup of coffee with her every Read more…

The Secure Act, passed in 2019, brought many changes to the retirement and financial planning landscape. We re-capped some of the biggest impacts of the original bill in a webinar that you can now access on-demand in the Plancorp resource library. Read more…

It goes without saying that traditional savings accounts aren’t enough to grow your money. As a type of investment, savings accounts are one of the safest places to put your money. The funds are liquid, so you can withdraw whenever and without penalties. However, these accounts are low-yield — Read more…