Featured Content
Medicare: The Basics
Medicare is an important tool for financial planning during your retirement. It can seem very complex at times.
Why You Should Review Estate Documents After a Move
There is already enough to think about when it comes to moving, whether it is down the street, across state lines or even to another country. Make sure to...
The Who, What, When, Where, Why, and How of...
What is the history, role and purpose of trusteeship? The origin of trusteeship is believed to have started almost four thousand years ago in ancient Egypt where the first...
Is a 529 Plan Right For Your Family?
One of the major benefits of a 529 plan is the tax free growth, and tax free withdrawals for qualified expenses. Even if you are spending along the way,...
Do You Need an Estate Plan?
I’m often asked the question: With the federal estate death tax exemption amount so high, do I really need an estate plan? The answer I give is: yes, actually...
Four-Step Process to Discuss Debt Management with Your Partner
Why are we ending a stressful year talking about debt management?
Can You Afford That House?
The COVID-19 pandemic and resulting recession have caused a lot of people to think deeply on their financial goals as they relate to home ownership.
Pay Off Debt? Or, Save for Retirement?
Fifty-six percent of adults under the age of 44 have student debt, according to the Pew Research Center. This is the highest share in history. The increase in college...
Why Your Money Isn’t Available Immediately After Selling Securities
When you need to withdraw cash from your investment account and you’re told the funds aren’t available, it can be a little unsettling, particularly when you know you have...
Parsec In The News
Thought Leadership
IRA Beneficiaries: Per Stirpes vs. Per Capita
Did you know that your IRA beneficiary supersedes your will? No matter how carefully you’ve crafted your last intentions in your will, an IRA beneficiary that was never updated after your divorce and remarriage can unwittingly bestow your former spouse with your IRA inheritance, while also disinheriting your new spouse and children. That’s why it’s important to update your beneficiaries after major life changes such as marriage, divorce, births, illness, domestic issues and deaths.
Hidden Costs of College
Congratulations! You have four years of tuition, room and board stashed away in your 529 plan and your child hasn’t even graduated from high school yet. Now you can breathe easily, right? Well … maybe, maybe not.
Giving Away Your Cake (And Eating It, Too) AKA Charitable Remainder Trusts
When thinking about our own personal assets we have many choices. We can hold on to them (having our cake), swap them out (trading for a different cake), or sell them and buy a consumable asset (eating the cake).
Estimated Tax Payments
What a relief it is as individual taxpayers to get our pesky income tax return filed on July 15 (or sometime thereafter, on extension) and have the IRS leave us alone for another year, right? Well – maybe, depending on your income and income tax withholding on said income.
10 Ways to Celebrate Independence Day
I proudly served in the U.S. Army from 1991-1992 as a medic. You can read a story about my experience there at ThinkAdvisor (I’m #21). My time serving makes me appreciate being a U.S. citizen. So, while some of our typical holiday festivities might look a bit different this year for safety precautions, I hope
Graduating From the Workforce – Are You Emotionally Prepared?
Everyone at Parsec works diligently to prepare you financially for retirement by guiding you to financial security. This is our mission, and our success can only be measured in seeing you achieve that security. Most importantly, you have walked with us each step of the way as we explained and implemented the financial concepts needed
You Have a High School Senior – Now What?
The last years of high school are an exciting, stressful and scary time for students, from academic pressure to social and behavioral issues. They are adults in many ways, but still little kids in other ways. Having never parented a child through this stage before, my wife and I learned a lot in the process.
Content Archives
Featured Author
Michael Baughman
Michael is a Certified Financial Planner practitioner and a NAPFA-Registered Financial Advisor.
Tax-Loss Harvesting Amidst Market Turmoil
Don’t Let Health Insurance Concerns Stop You from Retiring
How to Determine if You Need Life Insurance
Our Long Form Thoughts
Why You Need a Digital Estate Plan and How To Create One
Digital estate planning is a relatively new phenomenon, having only begun...
Small-Business Succession Planning Guide
It is easy for a business owner to view the value...
8 Saving and Investing Principles
Here are eight fundamentals you need to learn how to save,...
Charitable Giving Tax Strategies
The 2018 Tax Cuts and Jobs Act materially changed charitable giving...
Finding the Right Financial Advisor
If navigating the complexity of investments, insurance and estate planning is...
Parsec Financial Longevity Forum
A robust library of educational content provided by local experts on various aspects of aging well such as wills and estates, long-term care, nutrition, financial advice, planning for your legacy and more.
