Blog

At Plancorp, we don’t wait for you to ask the right questions.
We take the initiative to offer insights and guidance — real enlightenment for real life.

Emergency Funds: How Much to Save and Where to Keep It

A recent study by Bankrate found that more than 20% of Americans have zero cash set aside for life’s inevitable emergencies. That same study showed that 35% of Americans would be forced into debt when faced with an unexpected expense over $1,000. That’s roughly 1 in 3 people who could face serious Read more…

New Contribution Limits for Retirement Plans, Health & Dependent Savings Accounts, and Estate & Gift Tax for 2024

With a new year comes many new changes – putting up a new calendar, making New Year’s resolutions, AND new contribution and gifting limits imposed by the IRS. The IRS reviews the contribution limits and income phase-out ranges for retirement plans, health and dependent care savings accounts, and Read more…

Good vs. Bad Debt: The Differences and Risks

We’ve all heard the phrase “too much of a good thing.” Usually we’re talking about something relatively harmless, but it’s a different story when it comes to borrowing money. Read more…

The Way We Compare Retirement Savings is Broken: Here’s Something Better

Am I on track? No matter the person, their stage in life, or their level of success, this is the ultimate question I hear as a financial advisor. What they specifically mean by ‘on track’ can vary by person, but most are curious to know if they have saved enough to retire comfortably. Read more…

What to Know About Pig Butchering Scams

In the ever-evolving world of financial fraud, a new investment scheme with an unusual name has emerged. Known as the "Pig Butchering" scam, this term, as unsettling as it sounds, metaphorically represents the methodical way scammers fatten their victims' trust before going in for the financial Read more…

529-to-Roth IRA Transfers: What Are They and Can You Make One?

You Can Now Convert Unused 529 Funds Into A Roth IRA For Your Beneficiary 529 college savings plans have become a popular vehicle for parents and grandparents to set aside money for their children or grandchildren's’ college expenses. Read more…

Is My Investment Portfolio Properly Tax-Optimized?

It’s common knowledge that simply saving for retirement isn’t enough. Investing those savings can help your nest egg outpace inflation and grow exponentially to maximize your retirement potential. Read more…

What is FedNow: An Overview of the Federal Reserve's New Instant Payment System

With the rise of instant payment services like Venmo, PayPal, CashApp, and Zelle, the Federal Reserve has responded with a new offering. Read more…

Maximizing Your Retirement Contributions: Calculating Your Modified Adjusted Gross Income (MAGI)

Each year as tax season approaches, it's increasingly relevant for high earners and astute savers to understand the relationship between their Individual Retirement Account (IRA) contributions and tax filings. This understanding is a key component of an effective financial strategy. Read more…

The Ins and Outs of Intrafamily Loans

In today’s high interest rate environment (with current AFR sitting well over 4%) many people are turning to intrafamily loans to assist with major investments as opposed to commercial lenders. Read more…