Blog Posts & Insights

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Insights

Our thinking, for the taking. Stay on top of your financial well-being with insights from McKinley Carter strategists and portfolio managers. Uncover the latest on the economy, investing and retiring, along with other timely ideas and information.

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November 13, 2024 Nonprofits

The Philanthropic Autobiography

Studies show clients want their financial advisors to dig deeper into their altruistic motivations and values to help them with their goals for leaving a lasting legacy. Indiana University identified several questions that help donors discover for themselves what they want to articulate to advisors. “The Philanthropic Autobiography” is an adaptable tool used by philanthropy professionals. It helps donors reflect on who they are and think closely about their involvement in giving.

November 13, 2024 Nonprofits

The Pitfalls of Year-End Giving: 6 Things Donors Need to Know

As the calendar year draws to a close, charitable giving often surges. Many nonprofits ramp up their fundraising efforts, knowing that the holiday spirit, tax incentives, and personal reflection prompt individuals to give generously. While donating at the year-end is a powerful way to make an impact, it’s not without challenges. To ensure your contributions have the desired effect, it's crucial to understand some common pitfalls of year-end giving — and how to avoid them.

November 12, 2024 Nonprofits

The IPS: Understanding Nonprofit Fiduciary Responsibility

In the world of nonprofit governance, fiduciary responsibility is one of the most crucial obligations for board members and finance committees. Fiduciary standards of loyalty and care are fundamental to protecting the organization’s financial health and mission. A key tool in managing these responsibilities is the Investment Policy Statement (IPS). This document serves as the blueprint for how a nonprofit manages, monitors, and evaluates its investment portfolio in alignment with its goals. Learn more

October 15, 2024 Investing

The Revenge of the 493

Markets were volatile in the third quarter as investors faced political turmoil and increased uncertainty about future economic growth, but the return of Fed rate cuts and solid corporate earnings helped to offset those political and economic anxieties, and the S&P 500 hit another new all-time high and finished the quarter with strong gains. In the third quarter, we began to see other stocks (the 493) participate in the stock market’s rise. Learn more.

October 11, 2024 Retirement Plans

The Arrival of TDFs with Annuities

With participants thinking erroneously that there is a guaranteed paycheck built into their retirement plan, the production of an “Income Target Date Fund” has grown exponentially. Since 2020, some target-date series now include a form of guaranteed income, providing participants with a more predictable future. Learn more about the TDF with an Annuity.

October 10, 2024 Retirement Plans

When It Comes to 401(k) Beneficiaries, Where There’s a Will There Isn't Necessarily a Way

Beneficiary designations are a critical yet often neglected aspect of retirement plans. Many participants mistakenly believe that their retirement plan assets will be distributed according to their will or trust. However, retirement accounts are governed by their own rules, meaning the named beneficiary on the account will typically inherit the funds, regardless of other estate planning documents. Learn more

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Fundamentals

Wealth Management

Introducing The SAVVY: Financial Education Just for Women

At McKinley Carter, we recognize we are uniquely situated to help women “do better” with their money. We are so proud to announce the launch of The Savvy – A Society of Women Pursuing Their Ideal Life. The Savvy will bring real world financial tips, insights, and education directly to the women we serve through digital communications, in-person events, and one-on-one conversations. Learn what's coming in 2023 and beyond to help women better embrace their relationship with money.

Nonprofits

SECURE Act 2.0’s Enhancements for the Charitably Minded

Chatter abounds in the world of finance law since the Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 became law on December 29, 2022. Built upon the work that was started in the original SECURE Act of 2019, the sequel creates further enhancements that impact how individuals and families may prepare for the lives they envision in retirement, as well as how they navigate that dream once it is achieved.

Among the enhancements introduced in the bill are additional benefits for those retirees who are engaged in giving back to their communities through charitable gifts. Here are some new considerations that may help you increase the impact of your charitable donations.

Risk Management

Medicare: Have You Overlooked Your Choices?

Two years ago I turned 65 and had to select a Medicare Plan. There are several levels of options that must be chosen and they can be very confusing. Keep in mind I have my insurance license and it still took me about two weeks to research and make a final decision. Learn more from my experience to determine if you may have overlooked your Medicare choices.

Wealth Management

Purpose: The Missing Piece in Your Plan to Retire

For those preparing for retirement, it is an exciting time. You have planned and worked hard to get to to this point, building your identity in your community, making friends, and making a difference in the world around you. However, when retirement is finally achieved, it can often create a sudden void that can be difficult to fill. It's very important to think through ways to find purpose during your retirement years. Here are five ways to help you do just that!