Member Blogs

Many people ask, “Do I need a trust?” This article explains what trusts are, when they can be helpful, and when they may not be necessary. It breaks down key uses such as avoiding probate, managing blended family situations, and controlling how beneficiaries receive assets, and it clarifies common tax misunderstandings around the step-up in basis. You will also learn why, for many families, preserving the step-up in basis can matter more than complex estate tax strategies, and how Oasis helps you evaluate trusts within the context of your overall financial and estate plan.

Estate planning is more than having a will. This article explains the core documents most families need, including wills, financial and healthcare powers of attorney, living wills, and revocable living trusts when appropriate. It also covers why beneficiary designations and account titling must be reviewed regularly and coordinated with your broader financial plan to avoid unintended outcomes. Oasis helps you organize this information, ask better questions, and align your estate plan with your long-term goals.

Retirement planning is about more than making money last. This piece breaks down how spending naturally shifts across the three phases of retirement, why early retirees are often better positioned to spend more than they think, and what it looks like to build a financial plan that supports a full life, not just preserves a balance sheet.

Retirement planning is about more than making money last. This piece breaks down how spending naturally shifts across the three phases of retirement, why early retirees are often better positioned to spend more than they think, and what it looks like to build a financial plan that supports a full life, not just preserves a balance sheet.

Decoding a tax return doesn't require an accounting degree, you just need to know where to look. This piece highlights the key Form 1040 figures that matter most for financial planning, outlines which supplemental schedules are worth reviewing, and explains what a financial advisor actually looks for during a return review. It also makes the case for why filing a tax extension is a thoughtful and strategic choice.

With gold prices hitting record highs, many investors are asking whether gold belongs in a diversified investment portfolio. This article explains gold’s role as an inflation hedge and portfolio diversifier, why it tends to perform well during economic uncertainty, and how central bank demand is influencing prices. It also explores whether a small allocation to gold makes sense compared with traditional assets like stocks and bonds.

Get ready for tax filing season with a practical tax preparation checklist and last-minute tax planning strategies before the April 15 deadline. This guide explains which tax documents to gather, how life changes affect your return, and potential opportunities like IRA, HSA, or self-employed retirement contributions that may still reduce your tax bill. You’ll also learn how to double-check deductions, estimated payments, and income reporting to help ensure an accurate tax return.

Learn how to confidently manage your Schwab investment account with our new step-by-step video guide. This quick walkthrough shows you how to log in for the first time, reset your password, update personal information, and review or change beneficiaries, along with other helpful features like viewing statements and account activity. It’s a simple way to become more comfortable navigating your Schwab client portal.

Feeling nervous about the market? Feeling like you should cash out now and protect some of the fabulous gains recently? Are you tempted to take some of the chips off the table? It’s not a matter of should we take some of the chips off the table but rather do you need some of the chips? Let’s discuss.

Hearing lots of talk about this thing called an AI Bubble? Feeling confused and maybe concerned about what it is and what it means for you and our economy? Let’s take a quick look at what the AI Bubble is, and what it means for you and your investments.

With the holidays just behind us, the joy of giving may be at the top of your mind. One cool thing about giving is that both the receiver and the giver experience the joy of the gift. With inheritances, on the other hand, the giver usually does not get to experience the joy of the gift, and the gift itself can sometimes be burdensome to the recipient. How can we focus on giving now vs. later, in order to experience the joy of the gift with the recipients? Let’s discuss.

Weve moved out of Wendys house! Were now at 308 Main Street in Greenfield, on the third floor above the Hens Chicks storefront on the corner of Main and School Street, right across from the Town Common. Use the yellow door in the middle of the store front and go up two flights of [] The post New Address! appeared first on ProsperiTea Planning - Greenfield, MA .

Recently, I turned 59 ½ years old. Normally a half birthday doesn’t mean much, but this year was significant because now I can take IRA distributions without an extra 10% penalty. I was tempted to do so even though I’m still working and don’t need the additional taxable income! After 3+ decades of investing money []

Is charitable giving important to you? Are tax savings important to you? Well, I like both of those things too. Giving can be so rewarding and worth every penny. But if there’s also an opportunity to save some money on taxes while you’re at it, that sounds good to me. With that in mind, let's take a look at a few changes to the tax rules from the One Big Beautiful Bill Act pertaining to giving that are going into effect next year. Some may help you, some may hurt you. But it's good to be aware.

As a tax-focused financial planning practice, we have built quite a lot of depth in the realm of tax-advantaged charitable giving. We are often able to help charitably inclined people’s  money go further by implementing various tax strategies. There is often confusion about how giving to charity actually saves you money. In most cases, [] The post Strategies on Giving Tuesday appeared first on ProsperiTea Planning - Greenfield, MA .

Nearing the age of Medicare and feeling totally overwhelmed and a little scared about what it all means? Dive in with us on the basics of what Medicare is, when enrollment occurs and what it includes, and the general costs you can expect.

Seven years ago, I wrote about my lifelong passion (some would say obsession) for spare change. This dates back to counting the spare change and “egg money” in my grandmother’s chipped gravy boat in the 70’s. Today, this is the spare change stash in my office: But here in the 21st century, I don’t []

As my clients and I enter the Tax Planning season, where we analyze and make projections about how we can save on current and future taxes, one area we like to look at is savings from charitable giving. If you are already giving or looking to start, you might as well do it in a way that saves you a little on taxes as well. Let’s talk about a few ways to do that.

Interest rates are coming down? At Tuesday’s Fed meeting, the Board of Governors voted to lower interest rates by 25 basis points, and will now be targeting a range of 4.00% 4.25%. They also hinted, in typical Fed speak, that additional modest rate cuts would be expected later this year. While this outcome was [] The post Interest rates are coming down? appeared first on ProsperiTea Planning - Greenfield, MA .

Discover how the recent tax law changes create a unique opportunity to optimize your retirement savings through strategic Roth IRA conversions. This article breaks down the key factors, timing strategies, and state-specific considerations that can help you minimize taxes now while maximizing future tax-free growth. Dive in to learn how thoughtful planning today can secure greater financial flexibility and legacy benefits tomorrow.

Your retirement savings are only as valuable as your health allows them to be. Prioritizing smart health spending isn’t just about medical bills—it’s about investing in the vitality and freedom to truly enjoy your golden years. Discover why putting your well-being first is the ultimate key to thriving after retirement.

Investors wondering how to capitalize on AI can take comfort knowing diversified portfolios already hold substantial AI exposure across many sectors. Because AI impacts a wide range of industries beyond just tech giants, broad diversification remains the smartest way to capture its growth potential.

Is cryptocurrency still the worth the hype? Whether you think it will be the quick fix to overnight wealth, the new way to make payments to retailers, or the over-hyped rage of the last decade, crypto is still around and kickin’. And with it’s recent move back into the semi-spotlight, let’s talk about what cryptocurrency actually is now, and whether it deserves a spot in your financial life.

You may have heard about the One Big Beautiful Bill Act (OBBBA) which was signed in to law on July 4th, 2025. Critics deem the name a misnomer calling it Ugly rather than Beautiful, but I think almost everyone agrees it is in fact Big. There are dozens of provisions. Some go into effect immediately, []

Buffer ETFs (and other strategies) are gaining attention for their downside protection, but fixed income remains a time-tested way to manage equity volatility. Historical data shows bonds often perform well when stocks decline, making them a reliable hedge. Investors may want to reconsider those buffer ETF emails—and stick with proven diversification strategies.

Retirement is the perfect time to align your passions with purpose—whether it's reading to kids, helping at animal shelters, or sharing your skills in art, cooking, or business. Volunteering in areas you love can deepen your fulfillment, build community, and make a lasting impact. What will you organize your retirement around?

Donating appreciated assets like stocks or real estate to charity can maximize both philanthropic impact and tax benefits. This strategy allows donors to potentially claim a full fair market value deduction while avoiding capital gains taxes, especially when assets are gifted directly rather than sold first. Tools like donor-advised funds and timing strategies may further enhance the efficiency and flexibility of charitable giving.

There’s been a lot of talk recently about the One Big Beautiful Bill Act, and no matter how we may or may not feel about it, there are some tax-and-personal-finance-related items in there that will affect you and me. Let’s check out some of the main features of this bill and how they may affect us.

Living the best life possible in retirement (or pre-retirement) requires maintaining a healthy brain. Moderate cardio and weight training along with continual learning and the right diet can help maintain a healthy brain. Reducing stress through a variety of means, including exercising, journaling, and demonstrating smart sleeping habits should also help you maximize a return on life by keeping your mind sharp.

The Federal Reserve is maintaining its federal funds rate at 4.25% to 4.50%, carefully balancing economic growth and inflation concerns. While Fed decisions impact interest rates and markets, their effects are influenced by many global factors, making precise predictions difficult. For investors, staying informed and focusing on a personalized financial plan is the best way to navigate these changes and manage savings, investments, and debt wisely.

The One Big Beautiful Bill Act (OBBBA) makes many favorable tax provisions from the Tax Cuts and Jobs Act permanent, including lower tax rates, higher standard deductions, and expanded credits. It introduces key changes like increased SALT deduction caps, enhanced child and dependent care credits, and new deductions for car loan interest and seniors. Understanding these updates is essential for effective multi-year tax planning to optimize your financial decisions under the new law.

Spencer Financial Planning is 5 years old! Let’s look around at what’s going on, look back at the past 5 years, and look forward to what’s next.

We all know the familiar saying that money can’t buy happiness. But is that entirely true? Can’t the way we handle our money, the priorities and values we have around spending money, and ultimately the things, experiences, or people we spend money on… effect our happiness? Let’s talk about a few ways that money can play into our happiness, including a study done on the matter which had interesting results.

In our recent travels, we heard from two strategists, Paul Ma from Fidelity and Robert Stein from First Trust. While the US still has its share of long-term problems, we came away from these meetings feeling much more positive about where things are heading over the next year. Inflation may be coming down: rents dropped [] The post Economic Outlook from May, 2025 appeared first on ProsperiTea Planning - Greenfield, MA .

What are tail risks? What does it have to do with financial planning? A lot. Tail risk is the risk that's associated with an extreme event that has a small probability of occurring. Let’s look at a few examples of possible tail risks and some ideas of how we can prepare for them. Of course we never want them to happen, nor think they’ll happen to us. But IF/WHEN they do, we should have things in place so that the tail risk doesn't ruin us.

Taxes are always on my mind, but I suspect we will all be hearing a lot about taxes for the rest of the year. That’s because unless Congress takes action, several provisions of the 2017 Tax Cut and Jobs Act (TCJA) are set to expire on December 31st, 2025. According to the Tax Foundation about []

Worried about how your hard earned money in your investment portfolio seems to be going down with all the uncertainty in the market right now? Wondering how the current talk of tariffs, trade wars, and global slowdown is affecting your portfolio? Let’s talk about how the uncertainty in the market affects the three general categories of investments: Cash, Stocks, and Bonds.

I first wrote on this topic two years ago and decided to revisit as the numbers keep marching upward. Whenever the topic of COBRA comes up, the immediate response is always: “COBRA is expensive!” That’s true COBRA is expensive, because health insurance is expensive!* What is COBRA? The acronym comes from the Consolidated Omnibus []

Between two professional credentials that each need a lot of continuing education, plus family vacation time, you’ll find that Wendy works in weeks-long surges but is frequently out of the office in between. That’s okay, we’re planners, we’re good at this! Here’s how we put the Tea in Team: Wendy and Sam can both create [] The post Wendy Sams Vacation Conference Schedule for 2025 appeared first on ProsperiTea Planning - Greenfield, MA .

Operating as a solopreneur brings both opportunities and responsibilities, especially when it comes to financial management. From structuring your business properly to tracking your income, sound financial practices are essential for sustainable success. Favored Financial Planning specializes in helping solopreneurs navigate these challenges with expert financial guidance. Here are key best practices to establish a [] The post Essential Financial Practices for Solopreneurs appeared first on Favored FP .

Who’s Roth? Not someone whose parents had financial acumen and wanted to be edgy by naming them after their favorite investment account. I am of course speaking about Roth accounts, both Roth IRAs and Roth 401(k)s. Why do I love them so much? Let’s go through 9 of the reasons.

*spoiler alert: No, they are not. As I write this on the morning of February 13th, 2025, we are almost 6 weeks into the New Year and so far the SP 500 is up 3.12% in 2025. The SP 500 is a group of about 500 of the largest publicly traded stocks in the United []

Paying taxes is as much of a nuisance in retirement as having a bad pickleball partner. Make sure to plan for and submit your required tax estimates during the year and take advantage of some tips and tricks to avoid penalties and to perhaps optimize your income potential.

Are you getting bombarded by 2025 forecasts pertaining to market and economic predictions? Do you feel overwhelmed wondering how all these reports and conjecture should affect your investment strategy? Well fear not, I am here to tell you that is exactly what they are, conjecture, and should be treated as such. Read on for the details on why forecasts can be futile investment advice and what you should do instead.

Forming a Single Member LLC (SMLLC) is an exciting step for any solopreneur. It formalizes your business, protects your assets, and positions you as a professional in your field. But forming an SMLLC is just the beginning. To truly thrive, solopreneurs need a strong financial foundation to support their goals, mitigate risks, and ensure long-term [] The post Why Solopreneurs with a Single Member LLC (SMLLC) Need a Strong Financial Foundation – And How Favored Financial Planning Can Help appeared first on Favored FP .

Life is full of milestones, and while they bring joy and new beginnings, they can also significantly impact your financial and tax situation. Whether youre welcoming a new baby, entering or ending a marriage, each change comes with potential tax implications. Here’s how these milestones affect your taxes and how we can help you through [] The post Major Life Changes in 2024? Lets Discuss the Impact on Taxes: How Favored Financial Planning Can Help appeared first on Favored FP .

You're probably familiar with the term 'phishing'. Smishing, on the other hand, is like phishing but specifically when done through an unsolicited SMS (text) message. Let's learn more about this word that sounds like it's from a Dr. Seuss book.