Blog

Life Insurance Considerations for Every Stage of Life

Randall Pickett, MBA, CIMA®

Friday, August 16, 2024

As we go through various stages of life, our insurance needs may vary significantly. Here’s a breakdown of the different stages: Early Adulthood (20s and 30s) Considerations: Affordability. Life insurance will be less expensive if an...

From Beans to Bucks: Understanding the Common Ground Between Coffee and Investing

Randall Pickett, MBA, CIMA®

Friday, August 16, 2024

In the mountains of Ethiopia, around the year 850 CE, a goatherder named Kaldi went out in search of missing goats. When he located them, he observed them eating small red berries. He also noted the goats became energetic and would...

Retiring on Your Own Terms: 7 Ways You Can You Work Toward an Early Retirement

Randall Pickett, MBA, CIMA®

Friday, August 16, 2024

Many dream of working toward early retirement, but getting there generally doesn’t happen by accident. Retiring early requires financial independence that can last for decades, but that is much easier said than done. To get there...

The Road to High-Net-Worth: Strategic 401(k) Moves to Amplify Your Wealth

Randall Pickett, MBA, CIMA®

Friday, August 16, 2024

As one embarks on their journey toward a high-net-worth status, it's crucial to understand that strategic planning and intelligent decision-making are essential for wealth generation and preservation. One of the most powerful tools at...

Kids Heading Off to College? Don’t Forget About These Estate Planning Must-Dos

Randall Pickett, MBA, CIMA®

Thursday, July 18, 2024

Many parents want to provide their children with the best possible help and care, even when they transition into college. However, as the children come of age, there is much more to consider than tuition fees and dorm essentials.

Growth vs. Value Investing: Who are You Rooting for in This Duel of Strategies?

Randall Pickett, MBA, CIMA®

Thursday, July 18, 2024

Growth investing and value investing are similar yet different financial concepts that motivate investors depending on several factors. These motivations vary from person-to-person.

Estate Planning: Don’t Just Set It and Forget It

Randall Pickett, MBA, CIMA®

Thursday, July 18, 2024

Estate planning is critical for efficiently transferring your money, property, and assets to your beneficiaries after you die. The reason people choose an estate plan is that it avoids probate.

Always Be Aware of Your Surroundings, Including the Current Economic Landscape

Randall Pickett, MBA, CIMA®

Thursday, July 18, 2024

If you're someone who tends to avoid cable news programs, you may wonder about the best way to stay up-to-date on the current economic climate. Fortunately, there are more options than ever.

The Sandwich Generation and Retirement: Overcoming the Dual-Caregiving Dilemma

Randall Pickett, MBA, CIMA®

Wednesday, June 26, 2024

The "Sandwich Generation" is composed of adults who are ‘sandwiched’ between competing financial responsibilities. Many Sandwich Gen members support their aging parents while also providing for their children.

Wealth, Family, and Legacy: A Guide for High-Net-Worth Individuals in the Sandwich Generation

Randall Pickett, MBA, CIMA®

Wednesday, June 26, 2024

Wealth and estate planning are vital for all individuals but are particularly essential for high-net-worth (HNW) individuals in the sandwich generation. "Sandwich generation" refers to individuals caring for their parents and children.

The Founding Fathers' Guide to Financial Independence

Randall Pickett, MBA, CIMA®

Wednesday, June 26, 2024

“A penny saved is a penny earned.” This nugget of financial wisdom from Benjamin Franklin, shared in the late 1700s, remains as relevant today as it was then.

Why Insurance is a Must-Have Element of Estate Planning

Randall Pickett, MBA, CIMA®

Thursday, May 30, 2024

You probably already know that insurance is something you should have in case of unforeseen events. When it comes to estate planning, insurance helps manage the distribution of your assets the way you see fit.

Homeownership: What It Could Mean for Your Estate Plan

Randall Pickett, MBA, CIMA®

Thursday, May 30, 2024

There is one thing that we will most likely all do one day: regardless of your status in society, position at work, or whether you are tall or short, you may pass down assets to loved ones.

Annuities Unveiled: The Secret Weapon for Wealthy Investors

Randall Pickett, MBA, CIMA®

Thursday, May 30, 2024

Annuities are investment strategies offered by insurance companies that provide a steady income stream in retirement. These financial vehicles may particularly appeal to high-net-worth (HNW) investors for various reasons.

Retirement Planning: The Ultimate Endless Summer Adventure

Randall Pickett, MBA, CIMA®

Thursday, May 30, 2024

If you're like some, you may have spent large parts of your working life missing the carefree summer days of your childhood. That is, of course, assuming you had a happy childhood.

Remember, it is never too early to start planning for your future. The time to begin planning for your financial future is now. So, when it comes to preparing for retirement, the earlier you start, the better. Here are some steps to help.

Tips to navigating stock market peaks from the wise words of Warren Buffett. As the saying goes, "what goes up must come down." In the world of investing, this adage holds true.

As an affluent family, planning for your children's education is likely a top priority. You want to ensure that they have access to the best education possible without worrying about the high cost of tuition.

There are several ways high-net-worth individuals can benefit from life insurance. It is a vehicle that could provide loved ones with an income stream, it can be used as an investment strategy, it may help to lower your estate tax burden.

Over the past few years, the market has appeared to be on a rollercoaster, providing investors with moments of excitement followed by heart-palpitating anxiety.

What is luck? Most dictionaries define it more or less as something good or bad that happens to you, by chance or otherwise, that you find, or don’t find, desirable.

In an unexpected turn of events, the IRS announced another delay in the implementation of the new reporting rule that would require third-party payment apps, for example, Zelle, PayPal, Cash App, or Venmo, to report earned income over...

As age 73 nears, it is critical that you begin considering how you want to handle the required minimum distributions (RMDs) you are obligated to withdraw from your tax-advantaged retirement accounts, including 401(k)s, 403(b)s, 457s,...

Do you consider yourself a high-net-worth individual (HNWI)? Most people tend not to categorize themselves or see themselves as anything more than a spouse, parent, sibling, neighbor, boss, or business owner. However, society does...

In times of market volatility, when inflation is increasing, the Federal Reserve will raise interest rates to help to cool the inflation spike. During this period, people are anxious and keep a tight grip on their wallets. In time, the...

Planning for retirement often involves focusing on your finances and ensuring that you not only will have enough to sustain you during your retirement but adequate funds to do the things you enjoy doing. While this strategy is a...

Dear Valued Investor, LPL Research recently unveiled Outlook 2024: A Turning Point, which recaps where markets have been over the last half of 2023 to help position your portfolio through midyear of 2024. It’s with pleasure that...

Improving return by minimizing taxes Although we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...

For many of us, a new year is an opportunity for fresh starts and discovering the best versions of ourselves, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with that shiny...

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances.

As the year’s end approaches, High-Net-Worth Individuals (HNWIs) must prepare for one of the most critical monetary tasks: year-end tax planning.

When it comes to financial planning, people often think of financial professionals as people who assist with strategies for retirement planning.

You may have thought your digital identity was safe and not a likely target of a cybercriminal until one day, the bank calls wondering if purchases made at a store that you have never been to, 2,000 miles away, were made by you.

In 2013, a Gallup poll found that only about one in every three U.S. households maintained a budget.(1) A 2021 survey of 1,000 Americans found that 80% now say they have a budget.(2) Americans are budgeting more due to the pandemic.

Trying to reconcile recent market advances with not-so-good economic data. U.S. stock markets continue to trend up as optimism returns to Wall Street while Main Street USA continues to struggle.

Your Assumed Rate of Return, Know the Fees in Your 401(k) & Adjusting Your Financial Planning Timeline. Let's assume your financial planning is way ahead of your friends. You have saved, invested well and paid off your debts.

Ah, Money. The word leaves you with a positive or a negative feeling when you hear it. The feeling we get from money, and investing, has deep roots inside our emotions, although we may not understand why.

Whether to invest a large amount all at once or over a short period of time (lump-sum investing), or to invest gradually over a longer period of time (periodic investing) is an investment strategy decision you'll have to face.

Our 2023 investing outlook started with a theme of returning to normalcy. Considering 2022’s market volatility and the aftereffects of the pandemic, the idea of finding balance was certainly a welcomed change.

It's generally a good idea to review your employer-sponsored retirement savings plan at least once each year and when major life changes occur.

Investing in U.S. stocks and bonds is a popular way for individuals and institutions to grow their wealth and generate income. However, it is important to consider the impact of taxes on these investments.

A Backdoor Roth IRA is a strategy that allows individuals who earn too much to directly contribute to a Roth IRA to still contribute to one indirectly. Read on for more information.

You may have heard about the recent bank failures, and these events highlight the importance of diversifying your cash holdings. Here are four options to consider.

Comparing 2008/09 with the current financial landscape offers guidance The 2023 global economy has been experiencing a period of turmoil, marked by aggressive responses from governments, regulators, and the biggest banks as the world...

Understanding your financial situation can help you develop a retirement plan, pay down debt, draft a comprehensive estate plan and live with financial independence. Calculate your worth to continue the plan toward financial confidence.

High Net-Worth executives and those that have been self-employed, can experience common problems in their financial planning journey.

The feeling we get from money, and investing, has deep roots inside our emotions, although we may not understand why. Behavioral science explains why we make our investment decisions and how we emotionally react to them.

What might you do to survive and even thrive during volatile markets? A financial plan may help you feel more confident.

[DALLAS, TX] — [February 13, 2023] – Randall Pickett, an independent LPL Financial advisor at The Pickett Group in Dallas, today announced his inclusion in LPL’s Freedom Club. With more than 21,000 LPL-affiliated...

Are there certain S&P 500 sectors that might perform better if inflation rises?

As people begin to age, it becomes very important for many to evaluate strategies for leaving their wealth to loved ones. We'll take a look at a few options that allow you to give without creating a tax burden.

It's nice to own stocks, bonds, and other investments. When it's time to fill out your federal income tax return, you may be left scratching your head. Just how do you report your investments and how are they taxed? Read on for answers.

If you make New Year's resolutions and don't keep them, behavioral economics can help. It's the study of psychology as it relates to economic decision-making. Read on for more insight.

Improving return by minimizing taxesAlthough we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...

The window of opportunity for many tax-saving moves closes on December 31, so it's important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2022 tax year.Timing is everythingConsider any...

A list of things to consider as you think about year-end charitable donations With its family traditions and festive celebrations, the holiday season is the most wonderful time of the year. And according to GivingTuesday.org, the...

What is Tax Loss Harvesting?When investments in taxable accounts do not perform as hoped and actually lose value, investors may be able to take advantage of tax benefits to help offset their losses. The concept of tax loss harvesting...

As we approach the end of the year, you may want to review areas that may impact your wealth and estate planning next year. In this year-end planning guide, we examine four critical areas to consider that may affect your finances:...

Understanding long-term capital gains taxes when you sell investmentsMarket downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and...

Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility —...

Baby Boomers — those born between 1946 and 1964 — hold about $20 trillion in wealth.1 Over the next few decades, many Boomers may transfer this wealth to their Gen X, millennial, and Gen Z children, perhaps incurring a...

With a few simple actions, you can ensure your estate planning is effective.Whether your estate plan is simple or complex, there are many details, which are often overlooked, that can undermine your plan’s effectiveness. Are you...

Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you...

Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...

If you sometimes feel like your financial life has too many moving parts, you may be looking for ways to get back to the basics—without letting anything slip through the cracks. Fortunately, simplifying your finances does not...

It's a fact: People today are living longer. Although that's good news, the odds of requiring some sort of long-term care increase as you get older. And as the costs of home care, nursing homes, and assisted living escalate, you...

As a small-business owner, you may be looking for the next big thing—an investment that might double your profits within the next year or allow you to maintain your income while working just a few hours a week. However, business...

There was a time that retirement meant, for many people, sitting in the sun in a southern retirement community along with a host of fellow retirees. However, today retirement means many different things to different people. Why settle...