Our Insights
Financial Enhancement Group (FEG) is a wealth management firm based in Central Indiana with offices in Indianapolis, Lafayette, Anderson, and Rensselaer, as well as Bozeman, MT and Sonoma County, CA This page is updated with insightful posts on tax strategies, retirement planning, investing, and the economy. We invite you to read our articles to stay informed on the current and changing financial climate and share this information with your friends and family.
Empty Nester Thoughts
Your kids are grown and have left the nest, but that does not guarantee they have left the family budget. Financial and emotional changes lie ahead. Where do you start? Consider these thoughts regarding your money and your communication with your children. If you are...
Paying Taxes On Retirement Accounts Is Frustrating!
Consider This Program with Joe Clark, CFP and Ben Smith, CPA, CGMA with Estep Doctor and Company, PC. Schedule your complimentary Next Steps meeting today! www.yourlifeafterwork.com 800-928-4001
A new bundle of joy also comes with a bundle of tax benefits with special guest Ben Smith in studio.
Consider This Program with Joe Clark, CFP and special guest Ben Smith, CPA, CGMA with Estep Doctor and Comany, PC. In this segment we will cover: The Tax Code is structured to raise revenue and help achieve several societal goals, including helping families. Several...
Teaching our children good money habits.
Consider This Program with Joe Clark, CFP and Ben Smith. In this segment we will cover: Educating your children on personal finance does not always happen at school. Setting them up for a better financial future starts with understanding the basics. For example, why...
Talking to your parents about their money before it is too late.
Consider This Program with Joe Clark, CFP and Jamie Burton. In this segment we will cover: Having discussions with your aging parents can seem taboo. However, with an ever-changing estate and tax code, it is more important than ever to communicate. We will discuss...
Preparing to be an empty nester?
Consider This Program with Joe Clark, CFP and Jamie Burton. In this segment we will cover: When the kids are all finally out on their own, it is important to re-evaluate your financial situation. Do you save more or pay down debt? Is it time to downsize, and what is...
Personal and Financial Independence
Freedom rings and July 4 has arrived. We celebrate the Declaration of Independence, signifying our desire to discontinue one relationship and begin anew. We continue to have opportunities to make changes (hopefully improvements) in our lives, personally and...
The Right Tool For The Right Job
If you are like me, odds are you have at least one or two tools in a kitchen drawer. And because this drawer is more accessible than my toolbox in the garage, I often attempt to use a screwdriver as a hammer. Or a pair of pliers as a screwdriver. Generally, the...
Learn How Tax Planning And Tax Reporting Are Different
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Tax Planning is different from Tax reporting. One takes place after the clock has run out. The other can at times be the difference between financial freedom or financial...
Learn How Gains Shape The Wealth Landscape
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Capital gains are back in the limelight as tax code changes loom. We will walk you through how we coach families to use gains for their benefit when gifting and creating income...
A change in tax rules
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Leaving a legacy with your IRA’s and 401(k)’s has changed. The SECURE act shifted the landscape, and your heirs need to be aware of the tax tsunami that could be coming....
There Are Two Tax Codes, One For the Informed And One For The Uninformed
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Reading your 1040 is simple; however, understanding how it impacts your future is not. We will provide clarity on the differences between marginal tax brackets and your...
Your Life After Work
Imagine for a moment that your working career is coming to an end and retirement is on the horizon. What does that look like for you? Are you going to travel to exotic destinations, live in a golf course community, spend more time with the grandkids, volunteer in...
Taxes play a bigger part for your beneficiaries than you think.
Consider This Program with Joe Clark, CFP, and Daren Hardesty. In this segment we will cover: You love your beneficiaries equally; however, it might not be in their best interest to receive money equally. It is prudent to update beneficiary designations regularly. And...
Planning for your children’s future is more than just putting money in the bank
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: There are more college savings vehicles available today than ever before in history. With many options, how do you choose where to grow your college funds? Before you put your...
Turning your savings into income
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: When you go to retire, where and how is the income distributed. What is the strategy? What are the tax consequences? Why is taking money so different from saving money in your...
Downsizing can be more costly than you realize
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: Downsizing, at first glance, can seem like the right choice for anyone recently living as an empty nester. However, there are key considerations to make before taking that...
Are your beneficiaries equal?
A frequent question often pertains to beneficiaries. “What is the best way to leave my remaining assets to my family?” A simple question with assumed simple solutions. The truth is far from simple. A multitude of variables may be relevant to you and your situation....
Learn How To Protect Your Aging Loved One’s Finances with Cameron Huddleston from Careful
Consider This Program with Joe Clark, CFP and Cameron Huddleston with Careful. In this segment we will cover: It was such a pleasure to talk with Cameron Huddleston about her new book, "Mom and Dad, We Need To Talk - How to Have Essential Conversations with Your...
What To Do When Your Best Laid Plans Go Astray – Changes In Your Financial Phase
Consider This Program with Joe Clark, CFP, and Aaron Rheaume. In this segment we will cover: There are three distinct phases of finance that we all go through. It is not age-dependent. Each phase has unique objectives that must be stressed. Always begin with the end...
What to do first when you lose a spouse
Consider This Program with Joe Clark, CFP, and Aaron Rheaume. In this segment we will cover: Life comes quickly, and the IRS has no sympathy. Unless you have a minor child, this will be the last year to file a joint tax return regardless of what time of year that you...
Planning For A Job Loss, Before It Happens
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Rarely is a job loss expected, and rarely is anyone prepared for it. Lay-offs or downsizing can sometimes be predicted. It can be the sale of a business, a new manager, a...
Navigating Combining Assets From A Second Marriage
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Combining your assets needs to be discussed before marriage. We see people who keep everything separate (usually they have kids from a previous relationship) and those that...
All-Time Lows Aren’t Always the Worst
Typically, when you think of a financial planner, your mind goes right toward thinking of the stock market. When you are hiring or working with a financial planner, it's essential to consider that they offer a holistic approach to your situation. Our industry's...
Retirement Choices
The initial motivation for accumulating assets was to provide future opportunities during an elusive and vague future known as retirement. Creating future choices was the name of the game. Everyone loves options, but few love making decisions. When saving for...
It Takes a Village
Tax season ended this year on Monday, May 17, marking the second year in a row where the deadline was extended. Our office, as well as our CPA affiliates, found themselves working until the last possible moment. An unwritten rule says the longer you give yourself to...
Retirement “V” For Victory!
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: Find out why taking social security at 70 may make the most financial sense. Social Security and taxes play a bigger role in your retirement than you think. Schedule your...
Back To Basics: Social Security
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: Deciding when to take your benefit may be a million-dollar decision. Do you have the information to make the best decision? Schedule your complimentary Next Steps meeting...
Back To Basics: Keys To Independence
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: Learn how to discipline, maintain, and the process is the key to being financially independent. Schedule your complimentary Next Steps meeting today! www.yourlifeafterwork.com...
IRA’s – Roth Conversions
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: The current tax code is one sale, and the discount might be ending soon. Find out if it makes sense to pay lower taxes today for a more tax-efficient future. Schedule your...
Making The Most Of Your Charitable Donations
Consider This Program with Joe Clark, CFP and Dean Huddleston. In this segment we will cover: Being charitably inclined is a testament to you and your family. Our hope with the Better Giver is not to make you a bigger giver per se', but rather a better giver. Helping...
Who Takes Care Of You When You Can’t Take Care Of Yourself?
Consider This Program with Joe Clark, CFP and Dean Huddleston. In this segment we will cover: 100% of will pass away, but only 10% of us die suddenly. Most of us will Fade Away over time. Most legacy documents deal with what happens when you are gone. We are very...
What Is A Special Needs Trust And Do You Need One
Consider This Program with Joe Clark, CFP and Dean Huddleston. In this segment we will cover: You most likely want to treat all your kids equally. That is normal, whether it be on Christmas gifts or what's in your Will or Trust for them after you are gone. When you...
Your Heirs Need To Know About This Tax Code Change
Consider This Program with Joe Clark, CFP and Dean Huddleston. In this segment we will cover: No one presumed in 1980, the year of the first 401(k), that anyone would have $500k, $1m, or more in an account. Over time things changed, as did things you should consider....
Move It Out or Keep It In
The most common way for people to save for retirement is through their 401(k) or 403(b) plan. Most of you reading this know the drill – you meet with the plan advisor one or two times a year. The advisor tells you how your mutual funds have performed and uses software...
When should you start using your IRA money?
Consider This Program with Joe Clark, CFP and Aaron Rheaume, CKA. In this segment we will cover: 59.5 is the age where the 10% federal withdraw penalty goes away. This is true of IRA’s and most company plans. How you coordinate your distribution strategy is both a...
If You Are Leaving The Workforce, There May Be Options You Need To Consider.
Consider This Program with Joe Clark, CFP and Aaron Rheaume, CKA. In this segment we will cover: Age 55 is when your 401k may provide for a retirement distribution without imposing a 10% federal penalty for early withdraw. There are income restrictions, but there is...
Do You Know One Of The Stiffest Penalties In The Tax Code Could Impact Your IRA?
Consider This Program with Joe Clark, CFP and Aaron Rheaume, CKA. In this segment we will cover: Age 72 is the new age requirement for beginning Required Minimum Distributions (RMD’s). The penalty for not taking the correct withdraw is 50% so you have to get this...
Is An UTMA A Good Tool For Transferring Assets To Minor Children?
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Uniform Transfers To Minors (UTMA) provides a mechanism for investing assets for minor children. The age of the majority varies from state to state. Indiana’s age of majority...
Pivotal Days
As you read this article today, it is Mother’s Day, so I want to wish you all a Happy Mother’s Day. Over the years, as I have written this column, I try to have a theme, and because it is Mother’s Day, the piece of this week’s article is Pivotal Days. As a mother and...
Inflation: Don’t Forget It & How To Plan For It
As children, many of us feared the monsters that hide in the shadows or under our beds. And while such fears are usually relegated to humorous memories by adulthood, new anxieties often arise–like planning for retirement. The nagging worry about “what’s missing” in...
Do You Understand How Inflation Can Wreck Your Retirement?
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Inflation is usually slow to show up, like gaining a pound or two a year. Typically, it doesn't make a great deal of difference until it does. The destruction of your...
Tax Reporting vs. Tax Planning: Which One Wins The Race?
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Tax reporting is what we are all doing right now. Tax planning is what you did before the end of the year. Reporting tells the IRS the tax story of last year. Tax planning...
Saving For Retirement, Where Do I Start?!
Any journey begins with a single step. Those words are particularly applicable to the retirement planning process. Unless we inherit wealth, most of us begin the retirement savings journey with a very modest sum. Although the terms “saving” and “investing” are often...
Why You Should Reduce the Number of your Accounts
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: Very often we hear people say they don't want to keep all their financial eggs in one basket. The feeling of having accounts with multiple advisors and banks brings a sense of...
Adapting Your Investment Decisions
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: As you get older you realize that things change - your investments are no different. What made perfect sense to you 20-30 years ago may not make sense today. The good news is...
In Search Of Income
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: Fixed income is an important attribute to any investor’s portfolio. One can receive income from interest and dividends from a stock; a coupon from a bond; or the interest...
In Service Non-Hardship Distributions
Consider This Program with Joe Clark, CFP and Daren Hardesty. In this segment we will cover: Many people do not know that they can request a direct tax-free rollover from their 401(k) to an IRA before they retire. Even more, people don't know why it could be...
Your successor trustee makes all the difference in the world.
Consider This Program with Joe Clark, CFP, and Adam Harter, CFA. In this segment we will cover: Who you choose for your successor trustee is a big decision, but how do you choose? Join us as we talk about what to consider! Always begin with the end in mind. A trust...
What happens if your 529 Plan doesn’t go as planned?
Consider This Program with Joe Clark, CFP, and Adam Harter, CFA. In this segment we will cover: College isn’t for everyone, and neither is a 529 plan! We will break down what happens if college savings doesn’t go to plan. One of America's great college saving planning...
Retirement Strategies “V” For Victory!
Consider This Program with Joe Clark, CFP, and Adam Harter, CFA. In this segment we will cover: Retirement "V" for Victory - Success has many definitions. Doing your best; trying your hardest; apparent success is the worst - this strategy "seems" to have worked for my...
How can you know if your accounts are truly diversified?
Consider This Program with Joe Clark, CFP and Adam Harter, CFA. In this segment, we will cover: You know the old saying, “Don’t put all your eggs in one basket”, but how can you ensure you are using not only the right number of baskets but the right kind of eggs too?...
Gifting Effectively: Don’t Forget Taxes and Investments!
Many Americans believe that there are two U.S has two tax codes – one for the rich and one for the poor. Actually, there are two U.S. tax codes, but for the informed and the uninformed. Our team at FEG regularly meets mistakes – or at the very least missed...
A Turbulent Journey
Turbulence is a potential part of any flight. The passengers and the pilots may not appreciate the plane's unmanaged movement, but everyone is aware that, though uncomforting, the aircraft and the passengers will likely survive. The same is true for a portfolio that...
Charitable Gifting
Consider This Program with Joe Clark, CFP and Brett Spangler, CPA. In this segment we will cover: All assets are not equal in spending, investing or charitable gifting. There are opportunities to be a Better Giver. That is our process for helping you to be the most...
Staying up to date on tax code changes is crucial!
Consider This Program with Joe Clark, CFP and Brett Spangler, cPA. In this segment we will cover: Though there never was a mention of a stretch IRA in the tax code, families counted on it in their planning. This is just one instance of the IRA changing the rules...
Long Term Capital Gains – Cost Basis
Consider This Program with Joe Clark, CFP and Brett Spangler, CPA. In this segment we will cover: There are preferential items in the hunt for income. Qualified dividends and long-term capital gains are two of them. Neither matter in IRA’s but both matter in your...
Tax Brackets – Marginal vs Effective
Consider This Program with Joe Clark, CFP and Brett Spangler, CPA. In this segment we will cover: Effective rates are a focus of accounting software where the computer tells you what tax rate you paid on the average dollar earned. It is a critical number during...
Unknown Fees: The Truth Behind Wall Street’s Hidden Agenda.
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: The Topic is the Fiduciary Focus with this show highlighting fees and expenses. - A fee is a known number while an expense is an operating cost that varies from year to year....
Wills & Trusts: Which one offers more control when you are gone?
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: We all want what is left after we are gone to get to our heirs in the best possible way - least taxes, time, challenges. There are many legal documents you can use, but they...
Tax Diversification vs. Tax Deferral
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment, we will cover: Kicking the can down the road" Imagine a cigarette salesperson saying, "Smoke these. They'll give you cancer in the future, and you won't need as much retirement savings." The...
Stocks & Bonds: Which of the two have more power in your financial future?
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Stocks represent equity or ownership of a company. Bonds are debt instruments used to raise working capital for companies, governments, and municipalities. Traditionally, bonds...
Financial Spring Cleaning
Finally, it's springtime, and we can soon begin opening the windows and enjoying the sunshine. So often, we spend the winter months tucked away indoors, trying to stay warm by the fire and hoping it doesn't snow enough to require the shovel to be taken from the...
Finding Your Place In Retirement
Consider This Program with Joe Clark, CFP and Adam Harter, CFA. In this segment we will cover: Separating from the workforce is more than just a financial decision if you want to do it well. It is mental - what will you do with your time and energy for those of us...
Giving Up The DIY Approach To Investing
Consider This Program with Joe Clark, CFP and Adam Harter, CFA. In this segment we will cover: There are things we do because we want to; things we do because we have to; and things we do because we think we are supposed to. Not everyone is expected to be able to...
Charitable Gifting Strategies During Retirement
Consider This Program with Joe Clark, CFP and Adam Harter, CFA. In this segment we will cover: Charitable contributions tend to come from income rather than assets. Your life changed with retirement, but your church or charity has the same expenses. Defining your...
Preparing For An Unknown Future
Consider This Program with Joe Clark, CFP and Adam Harter, CFA. In this segment we will cover: Preparing for an unknown future - economically, financially and your personal health are all part of the prescription for a great retirement. The economy is out of our...
Student Housing Costs How Much!?
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: There are many options for your kids and grandkids when it comes to student housing. Coming up we will discuss things to consider when determining the most optimal housing...
What To Consider When Relocating
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: Your heart can travel, and your homes can change over time. There are things to consider when relocating, whether part-time or full-time. What are the reasons to relocate, when...
Selling A Long Time Home – Appreciated Assets
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: At some point, your home will likely be sold by either yourself, your surviving spouse or your heirs. The taxation is different depending on who receives the assets and how...
Could Refinancing Be The Right Fit For You In Retirement?
Consider This Program with Joe Clark, CFP and Chris Rodgers. In this segment we will cover: Different tools do different jobs. Find out on Consider This Program why a refinancing of your mortgage might make sense for your retirement. Schedule your complimentary Next...
Investing’s Only Free Lunch
Financial markets give every single one of us plenty of opportunities to be “wrong.” Wrong in the sense that we transform things that we believe are highly probable into a forecast for what will definitely occur. The difference is subtle, but the nuance between likely...
Do You Need A Special Needs Trust?
Trust discussions are robust in meaningful relationships, and they should be. A "trust" of any nature is a document that expresses your wants, hopes, and desires while you are alive and after your passing. Just as you have trust in a relationship, trusting your...
How To Talk To Your Parents About Money
Consider This Program with Joe Clark, CFP and Dean Hudleston. In this segment we will cover: They call it the Sandwich Generation, but it's not really a generation as much as it is a time frame. Those years when we parents are busy taking care of our children with...
Efficiently dividing assets in a divorce can make a bad situation a little more bearable.
Consider This Program with Joe Clark, CFP and Dean Huddleston. In this segment we will cover: QDRO is an acronym for Qualified Domestic Relations Order. In the case of a divorce where assets are held subject to the Employee Retirement Income Security ACT (ERISA) rules...