What image does a “family meeting” conjure up for you? Do you think of your childhood when your parents would ominously announce, “It’s time for a family meeting!” or maybe it’s your spouse asking, “Does this incident warrant a family meeting?” In our home, one form of a family meeting occurred when my husband and I had casual discussions with our three kids over dinner when we would say something along the lines of, “We have something important to talk about.” I recently asked our young adult ... [Continue Reading]
Articles and resources related to Financial Planning.
Looking around, whether in a restaurant, an airport or even on the beach, you may be observing more and more people out on their own—or perhaps with a group of friends. There are many ways one might be taking note that one of the largest growing demographics globally is single people. 1 This shift in demographics can also be seen here in Minnesota. In 2017, whether by choice or circumstance, 41% of women in the state over age 29 were widowed, divorced, or not married. 2 A single status may ... [Continue Reading]
What some are referring to as one of the most significant pieces of legislation related to retirement planning in more than a decade, the U.S. House of Representatives recently passed what has been coined the SECURE (Setting Every Community Up for Retirement Enhancement) Act, by an overwhelming and bi-partisan vote of 417-3. The bill will now move to the U.S. Senate where it also appears to have bi-partisan support. As the bill is very likely to become law in the coming weeks or months, ... [Continue Reading]
As a result of the Omnibus Tax Bill which was passed during Minnesota's recent legislative special session, then signed by Governor Walz on Friday, May 31, 2019, Minnesota individual income tax law will now largely conform to federal tax law. Our Tax Team will be actively analyzing the changes and will be working with CCM clients in the remainder of 2019 to help optimize your tax situation. In the meantime, following is a summary of the key takeaways from the 2019 Omnibus Tax Bill to be aware ... [Continue Reading]
March 9, 2009, is an important day in our shared history. We didn’t necessarily know it at the time as it took a few months for the significance of the day to reveal itself, but it was on this date when the financial markets hit rock bottom during the Global Financial Crisis (GFC). From that day forward the markets stopped their painful retreat and began to recover. That was ten years ago now, and as we reflect on those ten years, of course there are countless learnings and insights that could ... [Continue Reading]