Modera Wealth Management

We are excited to announce that the Bay Point Wealth team is now part of Modera Wealth Management! Learn more about this exciting development at https://lnkd.in/d7Vn2VTA. Be sure to follow the Modera Wealth Management page for continued content on wealth management and to keep up with our team. #financialplanning #wealthmanagement?

Are major changes ahead for your estate strategy? With National Estate Planning Awareness Week just around the corner, it's the perfect time to examine your legacy strategy more closely, especially since some changes may be on the horizon. The Tax Cuts and Jobs Act (TCJA) of 2017 increased estate tax exemptions, but unless Congress acts, these changes expire at the end of 2025, according to a 2024 report from the Tax Foundation. Here's what you need to know: ?? 2024 Exemption: $13.61M for individuals, $27.22M for couples. ?? Post-2025: The exemption amount will revert to 2017 levels (adjusted for inflation). Why Act Now? With potential changes on the horizon, taking a proactive approach may put you in a better position to manage your estate in 2026 and beyond. Everyone should consider creating an estate strategy. A financial professional can monitor the landscape of estate law and keep you updated on the status of potential changes! #nationalestateplanningweek #estatestrategy #financialguidance

Medicare Open Enrollment is here! Key Dates: Start: October 15, 2024 End: December 7, 2024 This annual window is your opportunity to: 1. Review Your Coverage: Ensure your current plan still meets your needs. 2. Compare Plans: Explore new options that might offer better benefits or lower costs. 3. Make Changes for 2025: Adjust your plan to better suit your health and financial situation. Did You Know? - Medicare Advantage Plans: These often include extra benefits like vision, dental, and wellness programs that Original Medicare doesn't cover. - Prescription Drug Plans: Even if you don't take many medications now, enrolling in a Part D plan can protect you from high costs in the future. - Medigap Policies: These supplemental plans can help cover out-of-pocket costs not covered by Original Medicare, such as copayments, coinsurance, and deductibles. Questions about Medicare and your financial plan? Let's chat. We're here to help you navigate your options and ensure your healthcare coverage aligns with your financial goals. #FinancialFriday #MedicareEnrollment #Retirement #HealthCoverage #SeniorCare

October is National Cyber Security Awareness Month! In this increasingly digital world, protecting your online presence is CRITICAL! Are you doing all the following: ?? Using strong, unique passwords—and considering a password manager ?? Consider asking the credit bureaus to help monitor and/or freeze access to your credit ?? Enabling two-factor authentication where available ?? Staying alert for phishing attempts and scams ?? Keeping software up-to-date Staying safe and taking precautions can help you better prepare for a cyber attack.

Some shocking statistics: ?? Breast cancer is a reality for 1 in 8 women in the U.S., making it the most common cancer among women worldwide, according to a 2024 report by the American Cancer Society. ?? A woman is diagnosed with breast cancer in the U.S. every two minutes. As you read this, someone is hearing their results and starting their cancer journey. ?? Breast cancer is the second leading cause of death for women. But there’s hope on the horizon. The American Cancer Society reported in 2024 that over the last 44 years, we’ve seen a 58% decrease in breast cancer mortality rates due to early detection and treatment advances. These are not just numbers. They represent our mothers, sisters, daughters, and friends. We can all make a difference by: ?? Donating to organizations that fund critical research, support services, and awareness campaigns. ?? Participating in fundraising events like charity runs, walks, or rides that raise funds for breast cancer research and care. ?? Volunteering at local breast cancer clinics, organizations, or events. #NationalBreastCancerAwarenessMonth #MakeADifference #SupportTheFight

Can you check the box next to each of the following financial strategies? ? Schedule regular financial check-ups. ? Create and monitor an approach for education expenses. ? Develop and update an estate strategy to prepare for the transfer of your assets. ? Evaluate your insurance coverage so that you might be better positioned for unexpected life events. Given that October is #FinancialPlanningMonth, and we all face challenges in preparing for our financial future, these are some important considerations to keep in mind. Creating a financial strategy isn't just for the wealthy—it's for everyone who wants to prepare for the future. Whether you're just starting out or nearing retirement, there's always room to improve your financial health.

Raising a child in 2023 could cost an average of $331,933 from the time a child is born to age 18, according to a 2023 study by Northwestern Mutual. Shocking, right? But here's the twist: Taking care of aging parents may be even more expensive. According to a CNN report from April 20, 2023, an assisted living facility can cost an average of $5,806 per month or roughly $70,000 per year. And then there is memory care, the fastest-growing sector of the senior housing market. On average, memory care costs just over $7,500 a month or $90,000 per year! What I tell people is to prepare ahead of time! Talk to your parents about their wishes and potential financial needs. Explore extended care solutions early on. Establish a financial strategy that’s flexible when it comes to medical and care expenses. A financial professional can help by showing how different scenarios can be supported. Share your experiences in the comments! #SeniorCare #LongTermCare #FinancialStrategy

Interesting fact: There are now nearly 3x as many stock mutual funds and exchange-traded funds (ETFs) as there are listed American companies! Some eye-opening stats from a 2024 study by the MSCI World Index, which tracks financial markets throughout the world: - 70% of global stock market value comes from US markets - All 10 of the world's most valuable companies are US-based - Yet less than 10% of listed companies worldwide are American (down from ~20% in the late 1990s) This shift reflects a changing landscape: - Fewer but larger US companies are dominating the markets - There's a rise of ETFs - Merger and acquisition activity has reduced the number of public companies Here’s a couple of things for investors to keep in mind: - Mutual funds and ETFs can play a role in a portfolio. - U.S. financial markets have a significant influence throughout the world. - Mutual funds and exchange-traded funds are sold only by prospectus. Carefully consider the charges, risks, expenses, and investment objectives before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. Please read it carefully before you invest or send money. As financial professionals, we understand navigating this evolving market can be challenging. But we can help you see through the clutter and design a strategy to pursue your financial goals.

Ever stop to think about how the smallest acts of kindness can sometimes make the biggest impact? Whether it's holding the door open, sending a thoughtful text, or sharing a smile, these little gestures can brighten someone's day more than we realize. Keep spreading those good acts and making the world a bit brighter, one small act at a time. #KindnessCounts #SpreadJoy #LittleThingsBigImpact

Imagine this: you mail a check to one of your accounts only to discover later it's been stolen, altered, and deposited into something you don't recognize. Mail theft is more common than you might think. It has steadily risen nationwide, with cases surging by 400% since 2019. Check out this real-life example: A recent incident involved an individual mailing a check for estimated taxes to the IRS. Unfortunately, the check was intercepted during mailing. The thieves then cleverly altered the check, making it payable to two individuals. The fraudulent check was deposited into separate accounts under the thieves' names. Thankfully, the bank eventually resolved the issue, but the experience serves as a stark reminder: fraudsters are constantly innovating, and mail remains a target. Here are some steps to consider: Go digital: Many institutions, including the IRS, offer online payment options. Switching to electronic payments eliminates the risk of mail theft. Shred sensitive documents: Don't toss out old bank statements or credit card offers. Take the time to shred anything that relates to your personal finances. Monitor, monitor, monitor: Review bank and credit card statements regularly. If you notice something unusual, report it immediately. Don’t think that fraud can just occur online. Take steps to help protect yourself both off and online!