As the year draws to a close, many of us are juggling holiday plans, year-end tasks, and financial check-ins. Amid the bustle, tax planning might not be top of mind—but it should be. Taking a proactive approach to your taxes in the fall and winter months can uncover opportunities to save money, ensure compliance, and…
In the world of finance, behavioral biases play a significant role in shaping how individuals make decisions about their money. These biases can manifest differently between men and women, influencing financial confidence, strengths, and overall financial behavior. Understanding these differences is crucial for individuals to identify as they are looking to improve their financial well-being….
As the end of the year approaches, many of us find ourselves reflecting on our goals, both personal and financial. Between holiday celebrations, gift shopping, and travel plans, the last quarter can be a big test for anyone’s budgeting skills. Let’s discuss an approach to evaluating your budget from start to finish, planning for holiday…
As we are now approaching the final month of the year, we’ve been working on year end reviews with lots of clients and families to benchmark and tweak their financial plans. While many are getting their finances in order for the second half of the year and benchmarking where they are in reaching their financial…
The IRS announced the new 2025 retirement contribution limits for 401(k) plans, IRAs and other accounts, increasing several of the contribution limits for savers. This is a great opportunity for retirement savers to increase their savings rate this year. So, let’s take a look. According to the IRS website, “The annual contribution limit for employees who…
At Sherman Wealth, we believe that financial planning doesn’t need to be complicated, especially as your life becomes more over time. Our mission is financial planning simplified- helping you mitigate stress, overcome feelings of overwhelm, and take charge of your future with confidence. Whether you’re just starting out or looking to refine your existing plan,…
As financial advisors, we often hear younger clients express concerns about where to start with their financial journey. Gen Z and Millennials are navigating an ever-changing economic landscape, from student loans to inflation, fluctuating job markets, and now a falling interest rate environment. However, starting early—even with small steps—can make all the difference over the…
In today’s dynamic economic landscape, an emerging demographic has emerged: HENRYs, or High Earners Not Rich Yet. These individuals, typically professionals in their prime earning and accumulating years, are not yet High Net Worth individuals. HENRYs possess a unique opportunity to not only save but also grow their wealth substantially. Let’s explore how HENRYs can…
With October being financial planning month, it gives us a prime opportunity to refocus our attention on our financial well-being. This month serves as a reminder to take a step back, evaluate our financial goals, and make necessary adjustments to secure and realign our financial plan and journey. In this blog, we’ll explore why Financial…
As we conduct our fall financial clean up and individuals are revisiting their cash flows and budgets, some may be considering their charitable giving strategies and contribution amounts for the year. One powerful and flexible tool gaining popularity is the Donor Advised Fund (DAF). This innovative approach to philanthropy not only simplifies the giving process…