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Should you only watch your rearview mirror when you drive your car? Of course not, but looking backwards is how many people handle their income taxes. Looking forward with a comprehensive financial plan, however, allows you to be proactive, and that can put you in a better position to reduce taxes for years to come. The benefits of wise tax planning compounded over your lifetime can have a significant impact on your wealth and financial security.

Have you updated your portfolio recently? Stocks are up, way up, especially in a handful of large, high-growth companies. But will they continue to outperform historical averages, or is this a bubble that’s ready to pop? The fact is no one can say for sure. However, experienced investors know that stock returns historically go through cycles of stronger and weaker performance, and when the tide will change is anybody’s guess.

In this last part of our 4 part series, we focus on understanding how care is delivered later in life and the various options the family should consider. Long term care impacts 70% of Americans over the age of 65. Historically, the need for long term care services were fulfilled by family and loved ones. Either due to changes in economic factors or changes to family structures, more and more Americans are looking outside of the family for care and support during the twilight of their lives.

The most important and most stressful role in settling any estate is the role of the executor/executrix. If you are the executor/executrix of your parents' will or you are naming someone for those roles in your will then it is important to understand what it means to fill those roles. This role is very important and requires a lot of work.

In our first post, we focused on the discussion between you and your parents but unlike a discussion between you and your parent(s), the discussion between you and your child(ren) should focus on your desires and plans.  When communicating with your kid(s), focus on how your love for your children is why you are putting plans in place now so that they do not have to make decisions later.

No one likes to talk about death with family members or friends and yet death is the only guarantee in life. So we are not surprised when working on estate plans with clients to be asked about how to start the conversation with their kids, their parents, or both. This article hopes to address a few items to help prepare you for those conversations. The first step before having the conversation is to ask yourself if you know what to say and are you comfortable having the discussion...

Are you one of the tens of millions of workers quitting their jobs this year or considering a similar change? Whether you’re looking for another career opportunity, downsizing your working life, or embracing full financial independence, it’s important to know all the ways you may be getting paid.

Like many homeowners I work with, you see the value of your property increasing and may be wondering if there’s anything you should do from a financial planning perspective. The answer depends on your specific situation, but here are several options to consider.

When speaking with people about what they want to achieve financially, I often hear loosely defined goals like “I want to retire early,” “I don’t want to worry about money,” or “I want to buy a vacation home.” On the surface, these all sound like perfectly reasonable financial objectives. But how do you know those are the right goals for you? How do you know you are focusing on solutions to the right problems?

As the weather heats up and the summer travel season kicks off, we wanted to give you an update on the second quarter.  The video below will update you on everything going on behind the scenes at Pegasus Financial Planning.

Whether retirement is right around the corner or still years away, there are important milestones and decision points that we plan for on your journey. Tax breaks, Social Security, Medicare, and when you must take money from certain accounts are all factors in the customized strategies we develop for your unique situation. And while mostly beneficial, a couple of these points also come with penalties that you likely will want to avoid.

We are asked what separates Pegasus Financial Planning from every other financial firm so we decided to share this video. This video highlights what we refer to as the Pegasus Experience. We strive everyday to keep the "person" in personal finance. So whether you're an employer taking care of your employees or a family taking care of your kids, we keep you in the center of everything we do.

As relationships become serious, a couple may eventually want to share financial decisions. This is a critical test of a relationship – and a test not every relationship passes. Including professionals in this decision-making process can sometimes make the difference in a relationship’s success or failure.

Spring is here and we at Pegasus Financial Planning want to update you on all of the great things going on.  The video below will update you on...

Tax season, that time of year between January 1st and April 15th for individuals, families, and small business owners to file their taxes.  We wait anxiously in late January and early February for our W2s, 1099s, and other financial documents.  For many of us, figuring out what the IRS forms mean is hard enough which is why we wonder who to turn to for help.  Sound familiar?

Tax season, that time of year between January 1st and April 15th for individuals, families, and small business owners to file their taxes.  We wait anxiously in late January and early February for our W2s, 1099s, and other financial documents.  For many of us, figuring out what the IRS forms mean is hard enough, which is why we wonder who to turn to for help.  Sound familiar? Two questions we often hear during tax season are...