FDIC and SIPC insurance provide important protections to individuals and businesses in the banking and securities industries, respectively. FDIC insurance offers coverage for deposits at FDIC member banks, protecting the principal amount of the deposit in case of bank failures. SIPC insurance provides limited coverage for securities and cash held by customers of failed brokerage firms, helping to facilitate the recovery of assets in case of insolvency or fraud. Learn more.

At McKinley Carter, we understand that true financial freedom extends beyond wealth accumulation; it lies in the strength of your financial foundation. That's why we take great pride in offering a service that goes above and beyond the norm — a comprehensive review of your financial foundation that sets us apart from our competitors. Imagine your financial foundation as a shield, protecting your wealth, dreams, goals, and aspirations from unforeseen circumstances and enabling you to navigate life's uncertainties with confidence. At its core, this shield is made up of three pillars, each vital in fortifying your financial plan: the in-depth estate plan review, the comprehensive insurance review, and the annual financial LifePlan review. Learn more.

Since the Federal Reserve began raising interest rates in March of 2022, there has been a pitched battle of “chicken” between the Fed and the average consumer. The Fed began raising rates about a year after inflation started a dramatic climb to its highest level in some 41 years. Those rate hikes have amounted to five percentage points on the Fed's benchmark to a level not seen since 2007. As a result, all sorts of loans tied to short-term interest rates have skyrocketed. These include credit card rates, home equity lines of credit, car loans, personal loans, and business loans.

The Fed has done its best to force higher borrowing rates on individuals and corporations in the hope that meaningful layoffs will follow, thus driving inflation down over time by lessening demand for products and services. What the Fed did not count on was the resilience of the U.S. consumer, who is experiencing solid wage growth and continues to spend on travel and dining out. Learn more about 2Q2023 and what may be ahead in remainder of 2023.

All new parents know life changes in many new, exciting, and even exhausting ways. Although we can't provide tips on how best to avoid crayon wall art, we can help you avoid possible financial "messes" by reviewing these four key areas. Check it out.

As a professional financial advisor and father of three young children, I’m often asked about ways to teach kids about money and good savings habits. With the lazy days of summer ahead, I consider it a great time to share two of my favorite “real world” methods for teaching kids to be smart about money, both of which get high marks from parents. Learn more.

Negotiation skills are essential in many aspects of life, from job interviews and salary negotiations to purchasing a car or negotiating contracts with vendors. By learning how to negotiate effectively, you can increase your income and savings, as well as improve your overall confidence and communication skills. Learn more.

When it comes to monitoring and selecting investments, the responsibility lies with the ERISA fiduciary for managing your company’s 401(k) plan, and this means the fiduciary is subject to ERISA’s prudent man rule (sometimes referred to as the “prudent expert rule”). What exactly is a prudent expert?

Across the nation, more and more workers are expecting to postpone retirement. And delays don’t just affect employees — more than a third of employers are concerned about increased health and benefit costs, negative impacts on their staff’s mental health and barriers to hiring new talent.

If you sponsor a retirement plan, you’re already doing something important to encourage employees to retire comfortably and on time. However, while 68% of American workers have access to a 401(k), only 41% are actively contributing to it. Working with your advisor can help you design the right benefits package for your organization. Learn more.

If current trends continue, the Social Security trust funds will be completely depleted in 2034. This is according to the most recent annual report published by the Trustees of Social Security. This is one year sooner than was projected in last year’s report. Find out more.