Immediate vs. Deferred Annuities
The terms immediate annuity and deferred annuity simply indicate when the distribution phase of the annuity begins. Both allow unlimited contributions, and both can provide, upon election, a...
Read more
Tax Planning for Annuities
Favorable tax treatment is one of the main reasons for buying an annuity. But what exactly are the tax benefits? And are there any drawbacks? It's important to know the answers to these questions...
Read more
Trust Basics
Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their...
Read more
Exceptions to the 10% Early-Withdrawal Penalty
Withdrawing taxable funds from a tax-deferred retirement account before age 59½ generally triggers a 10% federal income tax penalty, on top of any federal income taxes due. [Distributions from...
Read more
Borrowing or Withdrawing Money from Your 401(k) Plan
If you have a 401(k) plan at work and need some cash, you might be tempted to borrow or withdraw money from it. But keep in mind that the purpose of a 401(k) is to save for retirement. Take money...
Read more
Milestone Birthdays for Retirement-Planning Purposes
Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments such as getting a driver's license at 16 and voting at 18. But beginning at age 50, there are...
Read more
Closing a Retirement Income Gap
When you determine how much income you'll need in retirement, you may base your projection on the type of lifestyle you plan to have and when you want to retire. However, as you grow closer to...
Read more
Understanding Defined Benefit Plans
You may be counting on funds from a defined benefit plan to help you achieve a comfortable retirement. Often referred to as traditional pension plans, defined benefit plans promise to pay you a...
Read more
The Art of Charitable Giving: Making a Difference
Philanthropy is not just about donating money—it's about creating impact and experiencing the joy of giving. Charitable contributions can also come with significant tax benefits and personal...
Read more
Annuities and Retirement Planning
You may have heard that IRAs and employer-sponsored plans [e.g., 401(k)s] are the best ways to invest for retirement. That's true for many people, but what if you've maxed out your contributions to...
Read more
How to Choose the Right Life Insurance Coverage
Life insurance is one of the most important financial tools you can put in place for your family. Yet many people struggle with the big question: How much coverage do I actually need? Because every...
Read more
Taking Advantage of Employer-Sponsored Retirement Plans
Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in...
Read more
Key Life Events That Can Shift Your Tax Filing Status
Life changes—like getting married, going through a divorce, or welcoming a new child—often come with a mix of excitement, stress, and big emotions. But along with those personal milestones come...
Read more
Understanding IRAs
An individual retirement arrangement (IRA) is a personal retirement savings plan that offers specific tax benefits. In fact, IRAs are one of the most powerful retirement savings tools available to...
Read more
Understanding the One Big Beautiful Bill Act for High‑Net‑Worth Families
How the OBBBA Reshapes Estate Planning for High‑Net‑Worth HouseholdsEstate planning has always required thoughtful, forward‑looking decisions — especially for individuals and families whose wealth...
Read more
Your Home as a Source of Dollars in Retirement
If you own a home, you may be wealthier than you think. The equity in your home could be one of your largest assets, especially if your mortgage has been paid down over the years or paid off. This...
Read more
Roth IRA Conversions: Smart Moves in Uncertain Markets
In times of market volatility, it’s natural to seek clarity and control over your financial future. A Roth IRA conversion can be one of the most strategic steps you take—especially when markets are...
Read more
Evaluating an Early Retirement Offer
In today's corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the...
Read more
Maximize Your IRA and HSA Contributions Before the Tax Deadline
As tax season moves closer, it’s the perfect moment to revisit your financial plans—especially any contributions you intend to make to your IRAs or HSAs. These accounts offer valuable tax...
Read more
Estimating Your Retirement Income Needs
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as...
Read more
Social Security Survivor Benefits
When you think of Social Security, you probably think of retirement. However, Social Security can also provide much-needed income to your family members when you die, making their financial lives...
Read more
Fed Keeps Rates Unchanged: Understanding the January 2026 Decision
The Federal Reserve kicked off 2026 with a steady hand, opting to leave interest rates unchanged after several reductions at the end of last year. During its January 28 meeting, the Fed held the...
Read more
Social Security Retirement Benefits
Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor,...
Read more
February 2026 Financial Market Update – A Fresh Perspective
The U.S. economy continued to move forward last month, showing momentum that outpaced long-term trends. Strong household spending and a steady services sector helped keep growth on track. Housing...
Read more
Understanding Social Security
Almost 73 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits.1 Although most people receiving Social Security are...
Read more
Women: Moving Forward Financially After the Loss of a Spouse
The loss of a spouse can be a devastating, life-changing event. Due to longer life expectancies, women are more likely to face this situation.Becoming a widow at any age can be one of the most...
Read more
Adjusting to Life Financially after a Divorce
There's no doubt about it — going through a divorce can be an emotionally trying time. Ironing out a divorce settlement, attending various court hearings, and dealing with competing attorneys can...
Read more
Death of a Family Member Checklist
Losing a loved one can be a difficult experience. Yet, during this time, you must complete a variety of tasks and make important financial decisions. You may need to make final arrangements, notify...
Read more
Charitable Giving
Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid...
Read more
Women and Estate Planning Basics
When it comes to estate planning, women have unique concerns. The fact is that women live an average of 5.3 years longer than men.* That's important because it means there's a greater chance that...
Read more
Estate Planning and Income Tax Basis
Income tax basis can be an important factor in deciding whether to make gifts during your lifetime or transfer property at your death. This is because the income tax basis for the person receiving...
Read more
Reaching Retirement: Now What?
You've worked hard your whole life anticipating the day you could finally retire. Congratulations — that day has arrived! But with it comes the realization that you'll need to carefully manage your...
Read more
Deciding When to Retire: When Timing Becomes Critical
Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses but also what sources of...
Read more
A Retirement Income Roadmap for Women
More women are working and taking charge of their own retirement planning than ever before. What does retirement mean to you? Do you dream of traveling? Pursuing a hobby? Volunteering your time, or...
Read more
Working During Retirement
Planning on working during retirement? If so, you're not alone. An increasing number of employees nearing retirement plan to work at least some period of time during their retirement years.Why work...
Read more
Net Unrealized Appreciation: The Untold Story
If you participate in a 401(k), employee stock ownership plan, or other qualified retirement plan that lets you invest in your employer's stock, you need to know about net unrealized appreciation —...
Read more
Missouri Tax Benefits for Retirees: What You Need to Know in 2025
Retirement should be a time to relax—not worry about taxes. Fortunately, Missouri offers several tax benefits that can help retirees keep more of their hard-earned income. From Social Security...
Read more
Take Action Before December 31st: The Missouri Senior Property Tax Freeze
Understanding Missouri’s Senior Property Tax Freeze: What You Need to KnowMissouri seniors have a new tool to help manage rising property taxes: the Senior Property Tax Freeze. This program,...
Read more
Handling Market Volatility
Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake. Though there's no...
Read more
Understanding the Net Investment Income Tax
If your income hits a certain level, you may face an additional wrinkle in calculating your taxes: the net investment income tax (also referred to as the unearned income Medicare contribution tax)....
Read more
4 Smart Financial Moves to Make Before Year-End
As the end of the year approaches, it's the perfect time to take charge of your financial planning. While financial tasks can seem overwhelming, empowering yourself with proactive decisions can...
Read more
Smart Ways to Maximize IRA and HSA Contributions
With Tax Day fast approaching, now is the perfect time to review strategies that can help reduce your tax burden while reinforcing your savings. Among the most effective, yet often overlooked tools...
Read more
Year-End Tax Planning Basics
The window of opportunity for many tax-saving moves closes on December 31, so it's important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2025 tax...
Read more
2026 IRA and Retirement Plan Limits
Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2026. How much can you save in an IRA?The maximum amount you can...
Read more
Navigating November's Financial Markets
Last month presented a seemingly calm facade for the U.S. financial markets, yet it was brimming with complexity beneath the surface. As markets edged near record highs, enthusiasm for artificial...
Read more
Estate Planning Essentials for Kansas Residents
At Next Bloom Wealth, we emphasize the importance of maintaining up-to-date estate planning documents and beneficiary designations. Without proper planning, state intestacy laws will dictate asset...
Read more
Estate Planning Essentials for Missouri Residents
At Next Bloom Wealth, we emphasize the importance of maintaining up-to-date estate planning documents and beneficiary designations. Without proper planning, state intestacy laws will dictate asset...
Read more
New Senior Deduction Explained
Beginning in 2025, seniors can take advantage of a new $6,000 tax deduction that may help them cover the rising costs of housing, health care, and daily living by potentially allowing more of their...
Read more
Fall Into Smarter Tax Planning With Tax-Loss Harvesting
As the leaves change and the year winds down, there's a crisp chill in the air that invites reflection. It's a time for cozy sweaters, warm mugs, and maybe a brisk walk through the falling foliage....
Read more
Mandatory Roth Catch-Up Contributions Begin in 2026
For nearly a quarter century, employers have been able to offer their retirement savings plan participants age 50 and older a valuable opportunity — the chance to make additional catch-up...
Read more
Why Did the Federal Government Shut Down? And What Happens Now?
The federal government officially shut down many of its operations at 12:01 a.m. on October 1, 2025.1 This is the 15th government shutdown since 1980. Most were short, lasting one to three days....
Read more
National Financial Planning Month: Key Insights for HNW Clients
Embrace the Opportunity of National Financial Planning MonthOctober is National Financial Planning Month, a time to reflect on the unique complexities and responsibilities of managing significant...
Read more
Fall Financial Practices for a Strong Year-End
The crisp air of fall signals the approach of the holiday season—a time that can often feel overwhelming, especially in terms of finances. Yet, this season also brings a unique opportunity to pause...
Read more
The OBBBA and Its Impact on Seniors
Legislative changes, especially those affecting finances and healthcare, can be daunting. For seniors, staying informed about these shifts is crucial. The newly signed One Big Beautiful Bill Act...
Read more
Back-to-School Financial Planning Made Easy
Embracing the Back-to-School Financial ShiftThe back-to-school season is upon us, and with it comes a whirlwind of activity. Whether you're managing tuition, adjusting savings strategies, or...
Read more
Financial Market Highlights: Second Quarter 2025
Stamina Amidst Monetary UncertaintyThe U.S. economy has shown remarkable resilience in the first half of 2025 despite ongoing uncertainties surrounding monetary and fiscal policies. While the...
Read more
June Financial Markets Overview: Key Highlights and Insights
U.S. Stock Market PeaksJune witnessed remarkable growth in major U.S. stock indexes, piquing investor interest as markets shifted back to a risk-on stance. Both the S&P 500 and Nasdaq 100 soared to...
Read more
Key Steps to Take After You File Your Tax Return
Phew, the relief of filing your taxes! But wait, the tax process isn't necessarily over once you've submitted your return. Taking a few extra steps can ensure a smooth post-filing experience and...
Read more
Understanding the Social Security Fairness Act Changes
The Social Security Fairness Act: A New Era for RetireesThe Social Security Fairness Act, signed into law on January 5, 2025, marks a significant shift in retiree benefits, particularly for public...
Read more
Understanding Risk Tolerance for Smarter Investments
When it comes to managing investments, understanding your risk tolerance is paramount. This critical aspect involves balancing opportunities with potential losses and acknowledging the emotional...
Read more
January 2025: Financial Wellness Month to Boost Your Finances
January 2025 marks Financial Wellness Month—a time to take control of your financial health. With the start of the new year, there’s no better moment to reflect on personal financial goals and make...
Read more
Understanding the Rising Costs of Long-Term Care
Preparing Financially for Long-Term Care as We AgeAs we age, the necessity for long-term care becomes an increasingly probable reality. With the demographic of aging individuals growing, it's...
Read more
Financial Buzz: November Markets & Economic Insights
As November 2024 unfolded, the financial landscape navigated through significant developments. With the presidential election wrapping up and market sentiment reaching new heights, November proved...
Read more
Estate Tax Exemption Changes in 2026: Prepare Now
Understanding the Estate Tax Exemption Sunsetting in 2026The Tax Cuts and Jobs Act (TCJA) of 2017 brought significant changes to the federal estate tax laws. However, these changes are temporary,...
Read more
A Comprehensive Guide to Tax Income Brackets for Different Filers
When it comes to understanding your tax obligations, knowing which income bracket you fall into can make a significant difference in your financial planning. Tax income brackets are ranges of...
Read more
Reassessing the $1 Million Retirement Savings Goal
Reassessing the $1 Million Retirement Savings GoalFor many, accumulating $1 million for retirement signifies financial security and preparedness. This long-held benchmark has been viewed as a...
Read more
What to Know: New 529 to Roth Transfer in 2024
The new rule that allows 529 plan beneficiaries to transfer funds to a Roth IRA starting in 2024 is a significant development for families. This change can greatly benefit those planning for both...
Read more
How to Effectively Interview a Financial Advisor
Interviewing a financial advisor is a critical step in finding the right professional to manage your financial well-being. Financial advisors often have various titles like wealth advisor or...
Read more
View more