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WALSH & ASSOCIATES BLOG

As people begin to live longer, working past age 70 is not as unusual as you might think. If you are healthy and happy with your job, there’s no reason to stop working if you don’t want to! But if you do decide to keep working past age 70.5, there is some important retirement planning you’ll need to do if…
Walsh & Associates CEO Joseph Walsh Jr. was named to the 2019 Financial Times 400 Top Financial Advisers. Members must have more than 10 years of experience, at least $300 million in assets under management (AUM) and rank highly in areas of AUM growth rate, compliance record, industry certifications and online accessibility. When Walsh entered the field of Finance, he…
In partnership with Money Smart Week®, the financial advisors at Walsh & Associates are presenting four free financial literacy classes for DeKalb, LaSalle, and Lee County, Illinois communities April 22–25. Created by the Federal Reserve Bank of Chicago in 2002, Money Smart Week is a public awareness campaign designed to help consumers better manage their finances. Although Money Smart Week…
A client approached us recently with this question: We’re saving money for our daughter’s college education, but she’ll still need a scholarship. What effect will a 529 Savings Plan versus an UTMA have on her eligibility for financial aid? That’s a great question, and one not many parents think to ask. Here’s a breakdown of how these accounts are factored…
Although it’s something most of us would rather not think about, there is a good chance that you will need some form of assistance after the age of 65. In fact, according to the U.S. Department of Health and Human Services, 70% of people turning age 65 can expect some form of long-term care in their lifetime. Most people have…
Do you have company stock through a plan with your employer? If so, don’t miss out on a possible tax planning strategy utilizing a net unrealized appreciation (NUA) strategy. NUA is often misunderstood and/or overlooked. Here are some things you should know about NUA, and how it can benefit you when it comes to taxes.  Net Unrealized Appreciation Net unrealized…
We all know the feeling, looking at your bank account and thinking “where did my money go?”  In order to save money for whatever the future may hold you need to make a budget. Analyzing what and where you are spending your money can help create a clearer path to reaching your financial goals. Here are some steps and questions…
In today’s day and age, paying with cash is becoming increasingly rare. The alternative: Cards. How do we know when we should use a credit card or a debit card? Both options can have their strengths and weaknesses. Here are some things you should consider when pulling plastic cards out to pay. How Much Does it Cost to Use a…
Let’s face it – taxes aren’t fun and, although sometimes helpful, neither are the articles written about them. Now that the pressure of the 2017 tax season has come to an end, we thought we’d share something a little more lighthearted for our animal loving readers. What Deductions Can You Get From Your Pet? Do you have an animal that…
You’ve heard this cautionary tale before: a lucky soul inherits a new wealth – from the lottery, from family, from fame – only to squander it before their retirement. A sudden influx of wealth can be both an incredibly joyous and stressful experience. In fact, there’s even a stress-related disorder known as “Sudden Wealth Syndrome” that can come with newfound…
Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult. Notify others When your spouse dies, your first step should be to contact anyone who is close to you and your spouse,…
The Social Security Administration (SSA) recently released an internal audit1 that was conducted to determine if adequate efforts were made to inform widows and widowers of their option to claim survivor’s benefits. The results showed the answer was a resounding, “No.” The audit showed that a large majority, 82 percent, of beneficiaries who are entitled to receive survivor benefits initially…
As of 2017, a whopping 4.2 million children in the United States were receiving Social Security benefits. The total for these benefits? Over $2.6 billion each month. As large as those numbers sound, there are actually many more children that are eligible for these benefits but are not actually receiving them. And this isn’t because the benefits are difficult to…
You can’t afford to miss this opportunity! As proud participants in this year’s Money Smart Week, Walsh and Associates will be offering free courses on four different personal finance topics. Money Smart Week is coordinated by the Federal Reserve and Northern Illinois University – taking place April 21st through April 28th as part of The Financial Literacy Collaborative.  All of…
If you didn’t already know, anyone with earned income can have a Roth IRA….including children! That’s right, there is no minimum age in the tax code to be qualified for a Roth IRA. All that is required is reportable earned income, and the contributions to the Roth cannot exceed that income. Let’s be realistic though – not many children are…
It’s probably no surprise to hear that most senior citizens in America would prefer to live out their days at home. According to an AARP Research Center study1, 87 percent of adults 65 or older want to stay in their current home as they age. Unfortunately, many times circumstances don’t align so that aging in place is a feasible, or…
[SARASOTA, FL/ DEKALB, IL] — [February 14, 2018] — Joseph Walsh, Jr., an independent LPL Financial advisor at Walsh & Associates in Sarasota, FL and DeKalb, IL today announced his inclusion in LPL’s Executive Council. This premier award is presented to less than 1% of the firm’s approximately 15,000 advisors nationwide. “On behalf of LPL, I congratulate Joseph Walsh, Jr.”…
Whether your Estate plan was created twenty years ago or as recently as 2017, thanks to the new tax laws, they may be due for an update. There’s a chance some documents may not even be needed anymore, as old estate tax strategies fall by the wayside. With the new Tax Cuts and Jobs Act of 2017, the exemption for…
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