St. Croix Advisors, LLC

When you think of a financial plan, you may think of 401(k)s, investment portfolios, and emergency funds... but it's so much more than that. A financial plan is a life plan. https://lnkd.in/g3rdaaR3 #financialplan

Many of us regularly track our net worth—sometimes even daily—watching as it fluctuates with market swings, investment gains, and spending habits. But here’s a thought—why don’t we put the same emphasis on tracking our generosity? https://lnkd.in/gtwTwPwU

There are four kinds of investors: the Ferrari, the Minivan, the School Bus, and the Park Bench. Understanding your investment personality is the first step to building a portfolio that lets you sleep soundly at night while still reaching your financial destination. https://lnkd.in/gDBUfRS4 #investing

Happy Sunday! Is money a source of stress? What if trusting God with your finances could unlock more joy, contentment, and even unexpected blessings? Check out our latest article on tithing, faith, and financial planning—and discover how giving can transform not only your life but the lives of those around you. https://lnkd.in/gUuBJEig

When filing taxes, deductions can be your biggest friend. You are entitled to either choose the standard deduction or your estimated itemized deductions—not both. Compare and opt for the biggest tax bang for your bucks. #TaxSeason2025 https://lnkd.in/gP2iQqZA

Did you know that the IRS generally has a 10-year statute of limitations for collecting taxes? Read the details here. #taxseason https://lnkd.in/ezCrY--W

This article from Fortune is full of great travel tips. Here are some highlights: - “Chase the experience, not the location”. Think about the what rather than the where and you can apply his tips easily. - For domestic flights, aim to book 1-3 months before your trip. For international travel, widen that window to 2-8 months. - Traveling with family or friends? Try searching for tickets one at a time instead of in a group (make sure a kid ticket is always paired with an adult!) #traveltips https://lnkd.in/gZYFU25n

Have you found a financial advisor you like and are prepping for your introductory meeting? Or maybe you’re still exploring your options and just wondering what that initial conversation might be like? While every advisor has their own style (hint: ours is casual), here’s a general idea of what you can expect in your first meeting. #financialadvisor #financialplanning https://lnkd.in/g97gdtCh

How much do you need to retire? That’s the $64,000 Question. Getting these questions answered can help you figure it out. #retirement https://lnkd.in/gGq82Bxe

5 key takeaways from the article: 1. End of the Grace Period for Inherited IRAs – Starting in 2024, nonspouse beneficiaries of IRAs inherited in 2020 or later must take required minimum distributions (RMDs). The IRS had previously waived this requirement from 2020 to 2024, but the 10-year rule for emptying the account remained in effect. 2. The 10-Year Rule – Most nonspouse heirs must fully withdraw and pay taxes on inherited traditional IRAs within 10 years of the original owner’s death. Failure to plan withdrawals properly could lead to a large tax hit in the final year. 3. Tax Implications and Planning – Taking only minimal withdrawals early on might seem like a good strategy to minimize taxes, but it could lead to a significant tax burden in the tenth year, potentially impacting financial aid eligibility, Medicare premiums, and other tax-related factors. 4. Exceptions to the Rules – The 10-year rule and RMD requirements do not apply to spouses, certain eligible designated beneficiaries (such as those who are chronically ill or disabled, minor children of the original owner, or those close in age to the original owner), and those who inherited IRAs before 2020. 5. Roth IRA Inheritance Advantage – Beneficiaries of Roth IRAs do not need to take annual RMDs within the first nine years, but they must withdraw all funds by the end of the tenth year. This allows for tax-free growth over the decade before a lump-sum tax-free withdrawal. https://lnkd.in/ga7dXgjN