In today's dynamic workplace, the confluence of multiple generations presents a unique opportunity for growth and creativity. From Baby Boomers to Generation Z, each cohort brings distinct perspectives, skills, and experiences that, when harnessed effectively, can significantly enhance organizational performance and innovation. Learn more.

In today’s rapidly shifting political and economic landscape, mission-driven organizations face an uphill battle. Funding priorities are changing, policies are in flux, and new regulations are shaking up the sector. Yet, if there’s one thing nonprofits excel at, it’s resilience. By leveraging advocacy, financial diversification, and collaborative planning, organizations can turn uncertainty into opportunity—ensuring they not only survive but continue to make a meaningful impact. What are five smart actions every nonprofit should consider?

Giving to a church or nonprofit organization is not a one-size-fits-all endeavor. As a donor, there are many options to consider based on one's financial situation and long-term charitable goals. Thoughtful giving ensures that resources are available to serve communities, inspire change, and create a legacy of generosity for years to come. Learn more.

Volatility gripped markets in the first quarter of 2025 and the major stock indices saw declines as chaotic U.S. trade and tariff policies caused a steep plunge in business and consumer confidence, which raised concerns that economic growth would dramatically slow and corporate earnings growth would disappoint. Learn more about the key events of the quarter.

The Social Security Fairness Act was signed into law in January 2025. It repealed the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which had previously reduced Social Security benefits for public sector workers receiving pensions from non-Social Security-covered employment. Beginning in April 2025, public servants (teachers, firefighters, police officers) will begin seeing an increase in their monthly benefit payments. Learn more about the possible tax implications of the Social Security Fairness Act.

Warren Buffett once said, “Someone’s sitting in the shade today because someone planted a tree a long time ago.” However, that tree didn’t just grow in the perfect place on its own. That kind of foresight requires careful planning.

Estate planning is crucial for securing your legacy and ensuring that your wishes are carried out regarding the distribution of your assets. Establishing a trust can be a key component of an effective estate plan. Trusts provide powerful tools for managing and distributing assets during and after your lifetime. What different roles can a trust play in your estate plan?

Whether you’re excited about diving into Bitcoin or exploring the vast range of altcoins, understanding the essentials of buying, storing, and protecting your digital assets is crucial. Here we break down the steps to safely purchase your first cryptocurrency, explore the different options for securely storing it, and provide you with practical tips on how to keep your crypto safe from theft or loss.

In the 2000 film, Meet the Parents, actor Robert De Niro played Jack Byrnes, a retired CIA officer and father to Pam Byrnes, the girlfriend of character Greg Fokker, played by actor Ben Stiller. In the film, Jack Byrnes describes to his potential son-in-law, Greg, the importance of being part of the family’s “Circle of Trust.”

Much like in the movie, we are continually assessing which investments qualify for our “Circle of Trust.” 2024 saw investments related to Artificial Intelligence (AI) as trusted members of that circle. AI investments in semiconductors and software joined power suppliers (think utilities) and power management companies as winners in 2024 as the artificial intelligence theme saw robust investor interest in what is perceived as the next great frontier of investment opportunity. Learn more.

As we say goodbye to 2024 and welcome 2025, it’s the perfect time to reflect on where we’ve been and set the stage for where we want to go. The beginning of the year is all about starting strong. This is your chance to set priorities, take decisive action, and create momentum for the months ahead. Here are five actions we recommend to help you start 2025 with clarity, confidence, and purpose.

Cryptocurrency has garnered significant attention in recent years, becoming a hot topic of discussion in both financial circles and politics. But what exactly is it? And how does it work? Learn more about this digital currency and why it matters in today's financial landscape.

Generally-speaking, any asset with a directly named beneficiary is excluded from the probate process, such as 401(k)s, IRAs, life insurance policies, investment accounts with a transfer-on-death (TOD) registration, and bank accounts with a payable-on-death (POD) registration. In the event one of these account-types fails to name a beneficiary, that account would be transferred through the probate process. There are also key advantages to using a trust to avoid probate. Learn more.

More and more women are becoming proactive when it comes to their financial futures, whether they find themselves suddenly without “a ring on it” or simply choose to maintain their independent lifestyle. Whatever the case, financial planning for a single woman differs from couples in a variety of ways due to income dynamics, financial responsibilities, and life goals. It’s important for single women to be aware and to understand these factors that affect their financial plan and future retirement. Learn more.

This was an emotionally charged election season, wasn’t it? Whether you are elated or depressed with the election results, now is an especially important time to make sure you are making investment decisions based on facts rather than emotions.

U.S. presidential elections can cause ripples, and even waves, in the stock market. Like any other event that produces market volatility, changing your investment strategy in response to the political news of the day or the market’s short- term ups and downs have shown to do more harm then good. Here’s a look at how elections impact the market and how
to stay invested for the long-term in spite of short-term volatility.

Being an empty nester can be an emotional rollercoaster. Early on, I found myself still wanting to support my kids both emotionally and financially. That’s our calling, right? But now, a few years removed from my youngest child going off on his own after grad school, I’m proud to say I’ve struck the right balance between supporting my kids in any way they need and sitting back to let them figure it out.

We all know parenting presents so many challenges and joys along the way. I have always appreciated that journey — watching them develop into the individuals they have become. I always thought becoming an empty nester would mean I would have a lesser role in their lives, but that’s not really the case. It’s just a different role. Learn more

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.

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.

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

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.

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.

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

Many advisors recommend saving 15% of pre-tax earnings, including any employer match, to prepare for a secure retirement — but to accomplish this, timing is crucial. According to Forbes, savers need to begin by age 35 to retire comfortably by age 65; to retire by age 62, they’d need to get started by 25. Looking under the hood at participant data allows plan sponsors to better tailor strategies that help participants accelerate savings goals — and avoid financial speed bumps along the way.

Fall is by far my favorite season. One reason why is because it's the time of year we, at McKinley Carter, begin our budgeting and outlook planning for the upcoming year. It is a time for us to assess progress, address things that need attention, and make adjustments as needed. We use what we have learned to help make decisions that put us in the best position to succeed, so that we can continue to do the work we love with clients and our community. We have similar conversations with our clients ― talking through year-end strategies to help them finish strong and be best-prepared for the year ahead. Knowing they have a sound financial plan to act on allows our clients to spend more time focusing on the things that provide them with meaning and purpose, a real return on life. Find out what five actions we like to discuss with clients to help them finish out the year in a strong, impactful way.

Way back in 2017, the Tax Cuts and Jobs Act established a brand new program to encourage investment into economically disadvantaged communities. This program, called the Qualified Opportunity Zone program, offered real tax incentives for investors through potentially deferred gains, a step up in basis, and tax-free growth. At the outset, investors with large realized capital gains were given the opportunity to reinvest and potentially save more by holding onto their investment longer; but with the capital gains tax deferral deadline coming up on December 31, 2026, can it still make sense to look at Opportunity Zones for tax savings? The first step in answering this question is to understand what is a Qualified Opportunity Zone and how investors interact with them. Learn more.

With all the fun and activity of summer, it can be hard for investors to maintain their concentration. The stock market, though, has been picking up that slack for some time now. Peaking under the hood of the U.S. stock markets, we see them attaining a degree of concentration not seen for many years. This “concentration” refers to the outsized influence that a few stocks have on stock market indices, because of how the indices are put together. Fundamentally, you can think of concentration as the opposite of diversification. While an index may appear diversified on the surface, in reality it may be substantially skewed toward a handful of companies or a particular sector. So how does market concentration work? Learn more.

When considering if a Roth Conversion is right for you, it's important to evaluate your current financial situation, future income expectations, and long-term retirement goals. We encourage you to seek the guidance of a financial professional to review the complexities of this strategy. That said, here's an informative introduction to the Roth Conversion strategy — how it works, why one would consider taking advantage of it, and when it could make the most sense to be considered.

Is it ever TOO early to start saving for one’s retirement? The answer to that retirement planning question is a resounding “NO” and here's why.

While "The Few, The Proud, The Marines" is a recruiting slogan for the U.S. Marine Corps, in the stock market, the “Few and the Proud” have been the “Magnificent 7” stocks (Nvidia, Apple, Amazon, Google, Microsoft, Meta, and Tesla) and their performance reminds one of the stampeding effects of charging elephants. Like these large pachyderms, the “Mag 7” have run roughshod over the broad stock market this year and have left most other stocks lagging far behind. Much of the excitement surrounding these companies is focused on their dominance in the Artificial Intelligence (AI) investment landscape. Learn more about our 2Q2024 market review.

As the U.S. stock market hits new highs in 2024, it begs the question, “Should I diversify some of my stock market risk into non-traditional assets like alternatives?” While the answer varies from person to person, the concept is one worth exploring for many investors.

Alternative investments are financial assets that fall outside the traditional categories of stocks, bonds, and cash. They are often used in investment allocations to diversify portfolios, hedge against risks, and seek higher returns. Learn more about the common types of alternative investments and their characteristics.

If you're a retiree, orienting your volunteer work around the things you do best could help you find new meaning and satisfaction in your hobbies, while also creating new social connections that will deepen your retirement experience. Learn more about the types of synergies that retirees can create between what they LOVE to do and what their community needs.

For a majority of Americans, a Will is likely sufficient to accomplish their simple wealth transfer needs and desires. For others with more complex wealth transfer stipulations, a Will may fall short and the use of a Trust may be necessary. Learn more about the important estate planning conversation: Will vs. Trust.

Senator Bill Cassidy (R-LA), the Ranking Member of the Senate Health, Education, Labor and Pensions (HELP) Committee, and Senator Tim Kaine (D-VA), a member of that committee, introduced the Helping Young Americans Save for Retirement Act.

Sponsors of 401(k) plans would have to permit employees as young as 18 to make contributions under the bill. However, their involvement would be restricted. Learn more about those restrictions.

The Silver Tsunami is headed ashore, as “Peak 65” is expected to usher in an average of 11,000 retirement age Americans daily through the end of 2024 — the highest ever recorded. And a lot of them plan to keep working. Pew Charitable Trusts reports that 62% of workers 65 and older are engaged in full-time employment versus 47% in 1987 — and the expansion of seniors’ participation in the job market is projected to continue. The Bureau of Labor Statistics projects that more than one in five older adults will be in the labor force by 2032. For organizations, this demographic shift presents a unique opportunity to leverage the wealth of experience offered by senior professionals. Read more

On December 20, 2023, the IRS released Notice 2024-02¹ containing a slew of guidance on 12 provisions of SECURE Act 2.0. Read a summary of selected segments.

In the Terminator movie franchise, the third installment was titled Terminator 3: Rise of the Machines and continued the original movie’s theme of how the growth of Artificial Intelligence (AI) would ultimately lead to the end of civilization, as AI would discover that it no longer had need of humans. Fortunately, as AI is still in its infancy, the stock market is pricing in only the positive aspects of the technology. While graphic chips provider Nvidia (up 82% in Q1) has served as the poster child for Artificial Intelligence investments, many other technology companies (such as Super Micro Computer – up 255% in Q1) with some connection, or perceived connection, to AI rallied strongly in the first quarter. This led to an overall positive market sentiment throughout the period that lifted the S&P 500 and the NASDAQ 100 higher.

Ultimately, we believe the most powerful trend in AI will be the productivity enhancements experienced by many companies across a wide swath of industries. Read more about our thoughts on market trends and our look ahead to the remainder of 2024.

Want to feel like a true Superwoman? Try checking off your household to-do list all by yourself! Take it from me, there are many valuable "life skills" that all women (married, single, divorced, widowed, or care-giver) should know, or at least become familiar with (aka, know the right questions to ask). Find out more from my lessons learned.

At McKinley Carter, we not only provide guidance in a variety of important areas of nonprofit operations and finance (investment management, board governance, and fundraising, to name just a few), we also contribute to the overall mission of our nonprofit clients and their positive community impact, in perpetuity. How? Through an alignment of our goals — the most important of which is sustainability.

​​​​​​​Sustainability is critical for a nonprofit’s long-term viability, effectiveness, and service to constituents. It goes hand-in-hand with fiscal planning. Find out what nonprofits should consider in their fiscal planning.

Building a family culture of philanthropy, whether that is through monetary efforts, or through gifts of time and energy, can strengthen family bonds, create a lasting legacy, and make an important difference in our communities. Is now the time to be intentional with your family about giving back to your community? Start the conversation and see where it leads.

The title of this blog is meant to catch the attention of all those who grew up in the 80s. This is one of the first lines in the debut song "Ice Ice Baby" by American rapper Vanilla Ice. While Vanilla Ice's song doesn't have anything to do with nonprofit collaboration, the words stop, collaborate, and listen do resonate when it comes to opportunities for nonprofits to collaborate with their community. Learn more.

As you work through the labyrinth of decisions that move you from working and planning and working some more, to drawing an income and conserving value, it is always a welcome discovery to reduce your tax bill and, therefore, add another layer of security to your personal financial outlook.

One of the lesser-known strategies some retirees should consider applies if they have company stock within their 401(k) or Profit Sharing Plan; the special tax election is known by the label Net Unrealized Appreciation (NUA). Learn more.

Since 1990, the Financial Crimes Enforcement Network (FinCEN) has been a bureau of the U.S. Department of the Treasury. They are tasked with promoting national security and safeguarding our financial system by combatting financial crimes like money laundering and terrorist financing.

As of January 1, 2024, FinCEN has been given a new responsibility. Under the Corporate Transparency Act of 2021, FinCEN is now collecting required reports from U.S. companies that identify their beneficial owners and detail information. Is your business or entity one that is now required to report beneficial owners? Learn more.

A recent Vanguard report sheds light on the pressing challenges faced by retirees across different income brackets. The findings reveal that lower income workers allocate a significantly larger portion of their pre-retirement income to meet their daily needs, leaving them with a substantial shortfall in retirement readiness — even when factoring in Social Security benefits.

Plan sponsors can take proactive steps to help participants better prepare for a secure retirement to ensure that all employees, regardless of income level, have a fighting chance at a comfortable retirement. Learn more about those key steps.

It is crucial for companies to regularly benchmark and compare their benefits packages to their industry peers in order to maintain their competitive advantage and status. Offering a competitive benefits package, however, can be challenging for plan sponsors due to budgetary constraints.

But one industry leader says a plan sponsor should ideally reflect the investment "necessary to attract and retain the talent needed to drive business success" in their
"total rewards budget," which includes both benefits and compensation. That "right" amount of budget, he says, will depend on a number of factors. Find out more.

On October 31, 2023, the Department of Labor (DOL) released its “Proposed Retirement Security Rule: Definition of an Investment Advice Fiduciary.” If finalized, a new definition of an “investment advice fiduciary” under the Employee Retirement Income Security Act of 1974 (ERISA) would apply, likely resulting in more individuals becoming fiduciaries. Learn more.

Protecting your personal information is more important now than ever before. With the increasing number of data breaches and identity theft cases, it's crucial to take proactive steps to safeguard your credit. One effective way to do this is by freezing your credit. Let's dive deeper into what credit freezing is, how to freeze your credit, and the benefits of taking this precautionary measure.

Protecting ourselves and seniors from fraud schemes requires awareness, education, and vigilance. By understanding the common schemes used against seniors, we can empower them to recognize scams and avoid becoming victims. Learn about the three most common fraud schemes against seniors and how to avoid them.

Did you know your property ownership is vulnerable to cyber thieves? In this article, we dive into the world of property title protection and explore ways that you can add layers of defense against potential property fraud. Your dream home deserves more than just your investment, it deserves your vigilant protection.

"Elvis has left the building" is a phrase that was often used by public address announcers at the conclusion of Elvis Presley concerts in order to disperse audiences who lingered in hopes of an encore.

With that in mind, we believe that Federal Reserve Chair Jerome Powell has strongly hinted that when it comes to the Fed’s rate-hiking cycle that began in March of 2022, Elvis (future rate hikes) has now “left the building.”

Read more about Senior Investment Strategist Dave Nolan's 4Q2023 market review and what may be ahead for 2024.

The legal construct of a Trust is invaluable in financial management, offering a means to secure and distribute assets according to specific terms and conditions. Given the complexities of individual, family, and business relationships and objectives, a tool with these capabilities is unique. Learn about the various types of Trusts and the role they play in financial planning.

As Socrates once said, “Awareness of ignorance is the beginning of wisdom.” If you recognize a lack of proficiency, don’t be afraid to educate yourself. Of course, we all know we can’t be experts on every topic, but gaining a basic understanding that will help you ask the right questions will benefit you in the long run.

Personal finance is no different. Dismiss the notion that "the world of finance is a guy’s thing” and become more proactive about learning the basics. It will truly benefit your personal financial freedom! Check out these basic Investing 101 terms.

More and more workers are taking hardship distributions from their 401(k) accounts, a recent report shows. At the same time, the New York Federal Reserve reported in August that credit card debt among U.S. households exceeded $1 trillion for the
first time ever, with an increase of $45 billion in Q2 alone. In this challenging environment, how can plan sponsors support participants who may be struggling with high debt and help them avoid raiding their retirement savings to stay afloat? Learn more.

Did you know nearly half of women ages 25 and older lack access to a tax-advantaged, employer-sponsored retirement plan? Even among those women who are eligible for workplace retirement plans, average account balances lag far behind those of men. What can employers do to help? Learn how addressing the gender gap in retirement savings can lead to many tangible benefits for your organization.

Interest rates (and interest income) are significantly higher than we've seen in many years. And many taxpayers may be surprised when they see their next tax bill due from interest income earned in their taxable accounts—whether from their investment portfolio, or their bank or credit union. Be prepared.

As a kid, I always enjoyed Halloween. I would dress up in some particularly fun costume, usually something scary. As I went from house to house gathering candy with my friends, I would often see someone’s carved pumpkin lying in the road, clearly a victim of some hooligan’s prank. It was a reminder that, even in good times, negative influences exist around us.

Today, as we approach the Halloween holiday, we wonder whether the rest of the year will find our meticulously carved pumpkin (stock and bond) portfolios smashed on Wall Street. Just as we see on Halloween, there are now many frightening and disturbing “tricks” in the economy today, and we’re hoping to safely make it home (the end of the year) to enjoy what “treats” we hope to have in our investment bags.

Fall always feels like a season of giving. What better time to be intentional about conversations with family to come up with ways to give back, pay forward, however you want to label it?

Be creative. Involve the littles, the tweens, the teens, your college students, and your adult children. Make it a fun and meaningful conversation about how blessed you are, and learn how each would give back if there were no limits. Remember, the most valuable contributions are often not monetary. Think outside the box to build your family philanthropy plan.

Women face unique financial challenges throughout their lives: the gender pay gap, taking time off work for caregiving, and having a longer life expectancy, to name a few. Each stage of life presents a different set of financial considerations and decisions — and getting them correct is important to living your "good life". Learn more.

If you're a young professional, did you know a Roth Individual Retirement Account (IRA) can help you build wealth and achieve your long-term financial goals? Find out more about investing in your future with a Roth IRA!

Transitions — life is FULL of them. They can be planned or unexpected, but they are always "side-steps" in your journey of life. Which means, the way you handle them dictates if a transition becomes a mere speed bump to navigate or, conversely, an abyss that will swallow you if you allow it. What's the best asset to have to ensure your success with transition? Find out!

The relationship we forge with our future selves can greatly impact financial decision making in the present. Recent research revealed that subjects with a stronger connection to their future selves were more likely to delay gratification and make more prudent financial choices. But how can retirement plan sponsors help employees make the connection? Check out the "Future Self Tool" created by the Consumer Financial Protection Bureau.

A retirement plan may have one or more fiduciaries who have distinct responsibilities, though many individuals and committees may serve in multiple fiduciary roles. Here is a brief overview of the categories of fiduciaries.

With SECURE Act 2.0, there are a few mandatory changes taking effect in 2024 that retirement plan sponsors will need to comply with. These provisions require sponsors to work with their advisors, recordkeepers, and providers to develop a strategy for incorporating them into their plan design, as well as dealing with the cost implications that come with it. Also, learn about some Technical Corrections to SECURE 2.0 issued to the Treasury Department.

Have you heard of the 80/20 Rule? The 80% Rule is an insurance industry standard that stipulates policyholders must carry enough homeowners insurance to cover at least 80% of their home’s replacement cost. If a policyholder’s coverage falls below 80% of the home's replacement cost, the policyholder becomes a co-insurer in their loss, which can be a significant financial burden. Learn more

College is expensive, but the bookstore is one area where you can cut costs. Here are five money-saving tips for college freshmen navigating the bookstore.

It is no secret that the financial odds are stacked against women. Whether caused by life circumstances outside of their control, unfair perceptions, or chosen priorities, women, on average, have more financial stress to overcome than men. Stress of any kind can take its toll on your health and well-being.

SECURE Act 2.0 continues a push in legislation to address some of the financial stress points that women face. Learn which new potential stress-reducer might benefit you?

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.

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.

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.

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.

We’ve all heard the statement that If it’s too good to be true, it probably is. Unfortunately, we’ve become so conditioned to ignoring items that fall into this “free found money” category that we cross the line from skeptical to cynical. Skepticism is healthy, cynicism is not. Even the statement itself contains the word “probably.”

What I’m referring to here is the unclaimed property accounts all states have. You may have seen articles or ads telling you there might be money in your name, and all you must do is fill out a form to get it. It definitely sounds like one of those too good to be true proclamations. However, in this case it isn’t. Here's why it may be worth your while to look into it.

The S&P 500 ended the first quarter of 2023 with a solid gain as hopes for an economic “soft landing” gave confidence to investors that enough damage had been done to stock prices in 2022 and that the Federal Reserve would soon stop moving the interest rate “goal posts.” However, stock and bond markets were volatile during the period as investors wrestled with the Fed’s ongoing proclamations regarding the timing and magnitude of further interest rate hikes. Despite the biggest bank failures since the financial crisis taking place during the quarter, Fed Chair Jerome Powell maintained his hawkish position regarding inflation and the need to further tighten financial conditions to curb consumer demand for goods and services. Read more from Senior Investment Strategist Dave Nolan on his 1Q2023 market recap and what may lie ahead in the remainder of 2023.

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.

Every nonprofit organization knows that having more available resources equates to having a greater community impact. Thriving organizations usually empower a finance committee to act as their fiduciary and invest their excess funds. What's the best tool to help them achieve their goals? Learn how a strong Investment Policy Statement (IPS) will prepare your nonprofit for investment success.

The term “endowment” is often used loosely and in reference to an organization's investable assets. However, there are distinct differences among endowments depending on their purpose and use. Learn more.

Protecting your home and auto assets is an important piece to your LifePlan. But finding the right Homeowners and Auto insurance can seem overwhelming. Do you just go with what's easiest and choose someone you know? One way people navigate this complexity is by talking with an independent insurance agent. Independent agents are licensed to sell insurance products from multiple companies instead of being direct employees of just one company. Learn more.

With the new year comes reflection on what we achieved in the prior year. Did we fall short? Or did we succeed and want to continue our momentum?

If your New Year resolution involves relieving "money stress" by creating a financial plan in partnership with a professional advisor, you're not alone. Learn how to get started, and let 2023 be the year you begin your journey toward financial autonomy.

The importance of reviewing all beneficiary designations is best told by actual stories of beneficiary designations gone bad. We asked those who handle corporate retirement plans, and particularly the processing of beneficiary claims, about beneficiary designations gone bad. Here's what they shared about bad situations left behind for unsuspecting heirs to navigate.

Easing inflation pressures and a resolution of the fiscal turmoil in the United Kingdom fueled a strong rally in stocks and bonds early in the fourth quarter, but hawkish Fed guidance, disappointing economic data, and rising global bond yields weighed on markets in December and the S&P 500 finished the fourth quarter with only modest gains that capped the worst year for the index since 2008. Learn more about 2022, what actions we took on McKinley Carter portfolios, and our outlook for 2023.

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.

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.

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!

Here are the latest plan contribution and benefit limits. Read all the detailed notes that describe what has been changed or updated for Plan contributions.

A "Named Fiduciary" can delegate nearly all plan management responsibilities to “co-fiduciaries”; however, they must retain the responsibility to regularly monitor the prudent management of these co-fiduciaries. Having a Committee Charter is very beneficial when delegating any fiduciary responsibilities to co-fiduciaries. Learn more.

Many people who feel the need to financially provide for their families "in case the worst happens" often seem to have only a vague idea of how to provide for them if they are unable to work for a time due an accident or extended illness. Learn how Disability Insurance is applied to determine if it's right for you in your "life planning".

Sailing through rough seas is a frightening experience that feels like it will never end. Fortunately, rough seas eventually give way to calmer waters and a more comfortable sailing experience. Coming off strong stock performance for several years, the stock market has endured its own stormy seas this year with a significant pullback in 2022 as global economic concerns brought about by multi-decade highs in inflation, rising interest rates, and the war in Ukraine, have crushed investor optimism. We’ve experienced an unusual phenomenon this year – the simultaneous decline of stock and bond markets. Throughout the third quarter, investors’ concerns focused on global instability, rising prices and the possibility that central bank efforts to tame inflation would cause economic growth to falter. The result has been tremendous volatility in stock and bond markets. Learn more.

For individuals who have thought about getting into rental properties as an easy way to make cash while building assets for retirement, it will be important that you do your homework and set appropriate expectations of the venture. Learn more about calculating the returns on rental property.

As a result of the significant rise in revenue sharing litigation it behooves plan fiduciaries to confirm and document the prudence and appropriateness of any revenue sharing arrangement.

Just how important is a 401(k) match to your employees? It appears to be top of mind, according to Principal’s 2021 Retirement Security Survey. The study’s results show that the match matters most. Learn more.

The question before the court in Hughes v. Northwestern University was the plausibility of a breach of fiduciary duty claim stated by current and former participants in two university retirement plans. SCOTUS ruled that the petitioners in the case, originally dismissed by a district court and upheld by the U.S. Court of Appeals for the Seventh Circuit, did in fact plausibly state their claim. Essentially, the court asserted that the provision of sufficient investment choices to participants does not automatically exculpate fiduciaries from imprudent actions.

We all invest money for one primary reason—to make money. No doubt, your financial plan outcome hinges on achieving some amount of return on your money you’ve accumulated. While the whole point of investing is to get a positive return on those resources over your holding period, your success does not rise nor fall on the consistency of price increases. Well-formed financial plans consider not only reasonably anticipated rates of return but also the variability of outcomes. In short, your financial plan should not experience shock from short-term fluctuations in the markets. Learn how to get ahead with capital losses.

Our Senior Investment Strategist Dave Nolan provides a look back at 2Q2022 and the actions taken by McKinley Quarter. In the latter part of his investment report, Dave offers an outlook for the remainder of 2022.

Did you know nearly 90% of affluent wealth is lost by third generation? Sound multi-generational planning and education is key to increasing the likelihood that your family will be part of the 10% that “get it right.” We are proud of the work we do to help our clients be good stewards of their family wealth to grow for future generations. Learn more.

What core tenets for a master skydiver's success align exactly with the core principles for successful financial planning? Find out here and start your journey to mastering your wealth!

As a registered investment advisory firm or RIA, McKinley Carter does not provide accounting services. However, as fiduciaries, we continually monitor both state and federal tax laws and revisions. We are fortunate to have several experienced Certified Public Accountants (or CPAs) on staff, as well as benefit from the work of an internal, seven-member Specialized Practice Group that is completely dedicated to Tax and Legacy issues. Moreover, we regularly confer and collaborate with outside professional tax experts who take a deep-dive into the nuances of each tax law and any potential impact on our clients. We understand the importance of collaborating with accountants to ensure our clients know their options and get the most comprehensive tax advice and guidance.

This article highlights a case whereby the plaintiffs have asserted claims for breach of the fiduciary duties of prudence and failure to monitor fiduciaries. The lawsuit also targets members of the board of directors, as well as other officers of the firm who serve on the retirement plan’s fiduciary investment committee. Learn about the simple way of to offset such liability.

This article speaks of IRS/DOL Audits and provides a laundry list of items for potential review during an audit. Quite a long list – How would your plan fare in being able to check off these items? Learn more.

This article discusses a national accounting and consulting firm who was sued for excess fees. The bottom line: It behooves the prudent fiduciary to explore every avenue to protect themselves whilst acting in the best interests of their participants.

Many people find enjoyment in service on boards of directors for their favorite non-profit organizations. The most effective boards seem to have a thoughtful and strategic approach to selecting their directors with the intentions of achieving and maintaining an appropriate balance of skills, experiences, and interests that serve the organization’s interests very well. This issue is particularly important among selection of officers for the board. Learn more.

Cybersecurity is a hot topic these days and news headlines about cyber attacks and hackers are quite common. The nonprofit world is not immune to such attacks. In fact, recent statistics reveal two truths for nonprofits: (1) the frequency of cyber incidents is increasing and (2) nonprofits often lack proper cybersecurity protocols. Find out what areas are most vulnerable for nonprofits and how to safeguard your organization.

Despite over 90% of the United States population having some form of health insurance, medical debt remains a persistent problem. For people and families with limited assets, even a relatively small unexpected medical expense can be unaffordable. For people with significant medical needs, medical debt may build up over time with often no other option but making monthly payments as you can.

It can be understandably distressing trying to figure out how to pay out-of-pocket medical expenses — but it is important to understand all your options and to get financial assistance for medical bills as soon as possible. Check out these tips to help you in navigating your medical bills.

Read Senior Investment Strategist Dave Nolan's first quarter review and market outlook for 2022.

A financial timeline is a great way to help you track and understand financial data points from your past, as well as map out potential data points in the future for planning purposes. If you've never considered your own financial timeline, you should. Here's why.

Review a summary of key updates from the Department of Labor as it regards Environmental, Social, and Corporate Governance (ESG) investing.

How do you help your employees resist the “urge to splurge” and prioritize saving for retirement instead? It certainly seems like a tall order, given that it runs counter to tenets of fundamental human psychology. But what if the answer could be as simple as a little well-timed gratitude? Find out more.

Digging a little deeper into the ERISA and IRS requirements that DC plan loans reflect a “reasonable rate of interest”.

A recent IRS Issue Snapshot affirms a retirement plan participant loan is a legally enforceable agreement and terms of the loan agreement must comply with Internal Revenue Code (IRC Section 72(p)(2) and Treasury Regulation Section 1.72(p)-1). The terms of the loan agreement must be explicit in writing or deliverable electronically, and a loan in default is considered to be a deemed distribution. Learn more.

You lead a busy life and the danger of identity theft may not feel so urgent, so it's not a priority on your to-do list. Sound familiar? If you haven't found the motivation to address this issue, try breaking it down into smaller action steps. Each step taken toward protecting yourself against identity theft is a brick in a wall you build around the achievement of your future financial goals. Learn more.

Hockey's hat trick tradition is perhaps the most unique tradition in all of professional sports. For those of you that may not follow the National Hockey League as closely as other sports, a hat trick is when one player scores three goals in one game. To honor the player's performance, the hockey fans in the stands will then throw their hats onto the ice.

The stock market’s version of hockey’s hat trick is the double-digit performance of the S&P 500 over the past three years: 2021 = 28.70% | 2020 = 18.40% | 2019 = 31.49%. Read more of our analysis of 4Q2021 and a look ahead to 2022.

With the new year comes new resolutions and goals. If you're looking to get your financial house in order in 2022, don't forget to focus on your Return on Life. Learn what steps to take to help your financial goals become reality.

If you're a business owner or entrepreneur, your business is your greatest asset. Not only do you invest your time and talent into growing your business, it takes significant capital too. But did you know less than 2% of businesses actually take the time to value themselves annually? Whether it’s simply due to a lack of time or expertise, today's business owners don't do a deep-dive analysis into their businesses every year, which results in a significant number of them being undercapitalized. Learn what you can do to keep your business operating at its full potential.

The collection of stories and experiences throughout each of our lives make up who we are today as well as help shape our decisions for the future. Very often, we don’t realize just how much a certain experience or encounter may have impacted us, until someone points to it or draws it out of us. As adults, the way we view the world and make decisions for ourselves and family members may originate from how we were raised, work or educational experiences, or social interactions with friends and neighbors.

Our experiences with finances are no different. Sometimes we are very cavalier about those unique lessons learned we have gained over the years in regards to money. Believe it or not, our past experiences with money, or the lack thereof, have likely shaped our beliefs and how we choose to handle our own money today and in the future...we call this our Fiscalosophy. Learn why understanding your own Fiscalosophy is so important to your financial future.

In April 2021, the Department of Labor issued its first guidance on cybersecurity for plan sponsors, service providers, and participants. It did so at the behest of the Government Office of Accountability (GAO). That agency has been pushing the Department to identify minimum standards for mitigating cybersecurity risks in benefit plans. Learn more about the minimum standards for plan fiduciaries and service providers in mitigating cyber threats.

Here we discuss the need for up-to-date beneficiary designations. As a fiduciary best practice, we encourage beneficiary designations to be captured electronically. Learn more.

In August 2021, the Department of Labor submitted new proposed ESG rules to the White House's Office of Management and Budget — the last step before publishing regulations. The proposed rules should be published before the end of this year. Learn more.

The COVID-19 pandemic brought economic shutdowns, high unemployment rates, and market volatility; but it also highlighted that individuals should prioritize saving over spending. Research shows a surge in retail investors emerged as a direct result of the pandemic -- one now dubbed the "Generation Investor."

The S&P 500 hit new all-time highs again in the third quarter as investors looked past a resurgence of COVID-19 cases in the U.S. and instead focused on the positive combination of a resilient economic recovery, ongoing historic support from the Federal Reserve, and strong corporate earnings. Market volatility did pick up notably during the final few weeks of September however, reminding investors that the transition to a post-pandemic “new normal” isn’t always going to be smooth. We dig deeper into performance and outline the actions we took in McKinley Carter portfolios, plus provide our best-thinking on what's ahead.

No one understands the impact of a dollar like non-profit organizations. Often, an organization’s ability to change the world for the better relies so much on the stream of donations to fund their mission. However all too often, pursuing that mission stops when an organization’s funding outpaces their needs and they turn their attention toward investing. It is now easier than ever to affect positive change in the world while still getting a return on invested capital.

McKinley Carter's Nonprofit Advisory Services division has been awarded certification from the Centre for Fiduciary Excellence, LLC (CEFEX) that demonstrates the firm's adherence to fiduciary best practices, signifying conformance to a recognized global standard of fiduciary excellence.

If you serve on a 501(c)(3) executive or finance committee, you are responsible for drafting and maintaining a sound Investment Policy Statement (IPS) for your organization. Did you know that there are many commonalities between a well-drafted IPS and the unique engineering advancements that Tesla has brought to the automobile industry? Learn more.

We know a strong retirement savings strategy is critical for all working Americans. But why are there two classes of retirement plans and how are they different? Learn more.

What is the role of a retirement plan committee and why is it so important to your company's fiduciary duties to plan participants?

Greater media attention has caused Bitcoin interest to surge. However, the prudence in adding Bitcoin to a retirement plan is questionable, at best. Learn more.

When it comes to investing, the current standard of return on investment (ROI) can be self-limiting, adding pressure that is counterproductive. So much of ROI is not within our control. It’s important to balance return on investments with return on life (ROL). Return on life is defined as, "How well you are doing in living the life you want, with the money you have.”

Looking back, the S&P 500 had a strong second quarter thanks to numerous positive developments that led to a “Goldilocks” economic environment. We dig deeper into performance and outline the actions we took in McKinley Carter portfolios, plus provide an outlook for the remainder of 2021.

Mastering your wealth isn’t about beating someone else’s returns. It’s important to recognize that no two financial strategies are alike. Another person’s financial plan is likely (and should be) built around completely different goals and objectives, and completely different risk tolerances and acceptance of volatility. Your financial plan should focus on whether you are able to achieve your needs, wants, and wishes. Learn more.

Have you received a significant financial gift or inheritance but don't know how to spend it wisely? Consider these three steps to help you make the best decision for your unique financial situation.

Seventy-five percent of business owners don't have a documented succession plan specifying what occurs if an owner or employee in a senior role dies or becomes disabled. Learn more about how to craft a strong business continuity plan that takes care of the business, its owners, and employees.

The Social Security Administration considers full retirement age at 66 or 67 years old (depending on your year of birth), but workers can start collecting social security as early as age 62. What are the benefits of collecting early versus later? Learn more here.

An ounce of prevention is worth a pound of cure. This saying is universal, and certainly applies to fiduciary responsibility. Learn more.

What are the activities and the role of a retirement plan committee? Learn more about ERISA requirements.

Excessive fee litigation is increasing at a steady pace and all signs are it will continue to increase. The positive side of this situation is that we now have more caselaw to consider as we work toward compliance in creating a “best defense”.

The author shares her personal story of her mother's loss due to COVID-19 to highlight the importance of how thorough estate planning can ease a family's burden during a time of grief and sorrow.

The first quarter of 2021 was marked by several macro- and micro-economic surprises that resulted in increased market volatility compared to the fourth quarter of 2020, but additional economic stimulus combined with accelerating COVID-19 vaccine distribution and a decline in coronavirus cases helped stocks start the new year with solid gains. Take a look back with us at the first quarter of 2021. Review what actions we took on client portfolios as market dynamics changed. And learn what we expect for this year in our 2021 economic outlook.

When spring cleaning and tackling those cluttered closets and dusty attic, don't be too quick in discarding those old toys and collectibles. Take a minute to consider if that item could have value. Do your research. You may be pleasantly surprised!

This is the last in a series of six blogs about Smart Family Finances and ways to improve your decision-making regarding your money. In this article, we will attempt to wrap up the conversations about family finances in a “tidy” package.

A Securities-Based Line of Credit (SBLOC) can give you much needed liquidity without liquidating your investments. Learn about the advantages and risks of using an SBLOC.

For many, the last 365 days as an investor have produced many emotions: fear, greed, panic, anxiety, euphoria, information overload — but none more powerful that the fear of missing out or FOMO. Because of FOMO, our likelihood of making decisions that are outside of our expertise, and/or not in line with our overall investment strategy, skyrockets. Read why it's so important not to become blinded by the shiny objects.

This is the first in a two-part series of blogs around Sustainable Investing. Here, we review the origins of Sustainable Investing and define what ESG means from a portfolio perspective.

Saving for college is very hard. Add to that, concerns about growing tuition costs and the ongoing student debt crisis, and you face even more stress. You don't want your child starting his or her career with a massive debt burden, right? The key is to fully prepare for this financial decision -- just as you would for buying your first home. Learn more.

Unlike professional services provided by an accountant or attorney, many people aren't quite sure what a financial advisor can do for them and exactly how they help you achieve your financial goals. Learn what you can gain from working with an advisor.

Setting financial goals is critical to smart family finance. Sounds easy, right? Not quite. For many of us, it's difficult to know where to begin when it comes to our personal finances. What kind of goals should you set and how can you be sure you're on the right track to achieving them? Learn how "beginning with the end in mind" can help you in your financial goal-setting.

What a year we experienced in 2020! The most tumultuous year in recent memory ended on a high note for markets as the fourth quarter brought greater political and medical clarity — one that resulted in substantial market gains over the past three months, which helped to make 2020 a surprisingly strong year for market returns. What can we expect in 2021?

If you're wondering if you will be able to live comfortably in retirement, you must first determine what "comfortable" means to you and the associated level of spending. No matter what the level, comfort increases with confidence in knowing pre- and post-retirement spending needs.

Whether in portfolios of our own or for those for whom we have fiduciary responsibility, like our favorite non-profit organizations, it's important for us to remain aware of anticipated net distribution rates and investment returns for the asset allocation strategy selected for the portfolio's investments.

From an early age, we learn the fundamental principles of gathering and accumulating. Yet, most individuals and families in the U.S. freely give away their assets to support others. Here's a deeper dive into who, how, and why people give, along with some commonly held philanthropy myths and who benefits from the generosity.

Implementing a planned giving program can be overwhelming and costly. But it's important to let your donors and constituents know you are open for business and ready to accept charitable legacies through bequests and beneficiary designations. Learn more.

Behavioral biases can cause your investing strategy to get out of sync with your risk tolerance and goals. One common financial behavioral bias is rationalizing poor past decisions. Learn how to recognize when this and other biases have crept into your thinking.

Small Business owners invest a great deal of time, energy and money into their business, and it can easily be the largest portion of their investment portfolio. All too commonly, business owners direct the lion’s share of their effort toward day-to-day activities of the business and fail to capitalize on the value that they have worked so hard to create in preparation of retirement. However, with a well-thought-out succession plan business owners have an increased level of control over their own future as well as the future of their business.

Keeping secrets and lying to your partner about your spending habits can make any relationship go very wrong. It's officially called financial infidelity, and if gone unchecked can quickly spiral out of control. Learn the signs of financial infidelity and ways to overcome it.

2020 continues to be one of the most unpredictable years in memory, as markets rose to new all-time highs in the third quarter despite a resurgence in coronavirus cases, as stocks rallied thanks to a combination of an even more accommodative Fed policy, hopes for a COVID-19 vaccine, and a stronger-than-expected economic rebound, before markets declined moderately from those highs in mid-September.

Smart Family Finances to Improve Your Money Decision-Making

Editor’s Note: This is the first part of a series of blogs that talk about Smart Family Finances and ways to improve decision-making regarding your money.

An invaluable financial habit for all stages of life is regularly setting time aside to contemplate a future, measure and assess one's current situation, and consider plans to accomplish goals. Let's call this a habit of assessment. Without this deliberate habit, tomorrow is more likely to become yesterday with little being accomplished.

Your bonds are facing challenges not seen in our lifetimes – historically low interest rates have benefitted current bondholders as their prices have risen sharply in value; but the low current rates leave bonds exposed to losses, assuming rates rise in the future. Wondering if you should sell your bonds? Here are some strategies to consider.

Vintage cars are among the types of illiquid assets that can add considerable value to your portfolio. It's important to discuss these assets and other types of collectibles you may own with your financial advisor.

Quarantines have resulted in a huge upswing of online shopping. But beware of the temptation to overdo your retail therapy. Here's what you need to know.

Selecting beneficiaries and creating an estate plan can help you fulfill your wishes and potentially guide your heirs from the grave. Check out these tips.

We feel compelled to take action when faced with a stressful situation affecting our finances. Here are some Smart Actions to improve long-term success.

While 2Q2020 began with much despair and angst over COVID-19's impact on world economies, it ended with a sense of hope and optimism about global recovery.

Technology and internal protocols we put in place well before anyone ever heard of COVID-19 prepared us to make the seamless move to virtual operations.

Social media has revolutionized marketing and how we “consume” information. For nonprofits, harnessing social media can make an enormous impact.

Nonprofits face revenue shortages

Don't assume your valuables are fully covered under your homeowners policy -- Most limit or exclude coverage for artwork and collectibles. Learn more.

How can you reach a point in life where your decisions are not based solely on financials? Learn more about how to reach your own financial autonomy.

COVID-19 has wreaked so much turmoil, causing the most seasoned investors to crumble in doubt. Learn three ways you can take back financial control.

On March 28, 2020, Congress passed the CARES Act, providing an array of provisions to help the economy. Here's a guide and links to valuable resources.

Covid-19 is the latest black swan event. Despite a volatile quarter, we remain optimistic about the economy once the pandemic passes. Here's why...

Everyone is affected by the Coronavirus, and cyber criminals are poised to take advantage of people's fear and uncertainty. Check out these security tips.

The day-to-day grind distracts nonprofit leaders from their mission's primary focus. If you want to make positive changes, try assessing your mindset.

McKinley Carter Investment Update to clients for Friday, March 13, 2020

It's important to plan as early as possible for the emotional and financial twists and turns that Alzheimer’s presents for the patient and loved ones.

Learn how the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act by the U.S. Congress impacts your estate planning.

Advisors today must identify clients at risk for financial exploitation and take steps to prevent it. Learn how MCWS protects its vulnerable investors.

We provide a first quarter and 2020 market outlook, as well as reflect on 2019.

Fear and greed are the two most damaging impulses for an investment strategy. 2019 is a good example of why you should always stick to your plan.

When thinking about charitable giving, we tend to focus on financial donations. But remember, there are plenty of other ways to "give with purpose."

Did you know that the government offers a tax credit for participating in your retirement plan? Think of it as an instant reduction to your taxes.

The IRS has announced its 2020 cost-of-living adjustments (COLAs) for retirement plans. Learn about the increase in limits for participant contributions.

Learn about the fiduciary obligations of today's retirement plan sponsors.

When talking about retirement, there are two possible outcomes: Either we outlive our money, or our money outlives us. Your behavior affects the outcome.

The holidays are "prime-time" for scammers. Don't get duped. Learn how to protect yourself and your financial assets.

It's the longest economic expansion in history, but the media warns a recession is imminent. We say don't let the news headlines play with your emotions.

Protecting seniors from elder abuse is important in today's world of scams and fraud. Check out these four signs that the senior in your life may need help.

Check out our look back at 3Q2019 market activity and our forecast for what may be ahead in the fourth quarter.

We keep hearing a recession may be nearing and that continues to spook many investors. But we say a recession is not something to fear, and here's why.

With cyber-hacking becoming an almost daily occurrence, here are five best practices that will help individuals and companies protect themselves.

What agencies or entities should you alert when you've changed your name due to marriage, divorce, or adoption? Check out this comprehensive list!

A well-thought-out Request for Proposal process helps nonprofits find a financial advisor who is committed to their mission, all with less stress involved.

Following "Robert’s Rules" is essential for nonprofit board meetings. Learn how they make a difference in decision-making and productivity for the board.

Do you have the necessary tools to successfully “free solo” your financial plan? Find out how you may be better served working with a professional advisor.

What are the self-imposed roadblocks that prevent you from volunteering? Learn how to overcome them so you can make a real difference in your community.

2Q2019 Market Update: Equities have experienced robust growth and have recently achieved new all-time highs. Learn more about what is driving our economy.

The journey toward earning the Certified Financial Planner® certification is not an easy one. Here's the personal story of one MCWS advisory team members.

Can real estate play a part in your personal financial plan? Yes it can! Here are three great ways to get involved in the real estate game.c

It's never too early to start preparing for your 2019 taxes. Here are 3 timely tax-saving strategies you can employ now to lower your tax bill next year.

We are thankful for the strong start to the year, but also mindful that now is not a time to become complacent -- risks to investors' portfolios remain.

Congress is acutely aware that Americans are unprepared for retirement. One solution: 'Setting Every Community Up for Retirement Enhancement Act of 2019'.

Even simple changes create complications when it comes to U.S. tax law. It's time for a reality check, and an opportunity to help debunk common tax myths.

Improve your financial well-being and live a comfortable retirement by leveraging your “Gap Years”. Here's how to take action today.

An IRA, 401(K) and a solid savings account are important to your personal “financial arsenal”. But do you know how to leverage a Health Savings Account?

To build a truly durable financial life, we must think beyond the common risks and design a plan to handle a broader range of potential issues. Learn more

We are thankful for the strong start to the year, but also mindful that now is not a time to become complacent -- risks to investors' portfolios remain.

At MCWS, we proudly invest in providing a workplace where employees WANT to be. Learn more about how we turn that passion into excellence in client care.

A goal-oriented, collaborative financial plan is the remedy for a better, more worry-free life. Professional financial advisors are there to serve as your guide, your GPS. Learn more.

Married couples should consider a “team approach” to their financial life together — one with a strong game plan and goals. Learn about the 5 must-have ingredients for making the most of a Marriage’s Financial Game Plan.

For decades wealthy and mass affluent families have worked with major bank and brokerage institutions. With changes in the financial industry, such families may be better served exploring a superior relationship model.

Nonprofits are always trying to forge engagement and relationships with a potential client, donor, or volunteer. Through a story you provide a window into your world; the needs of your organization; who and how you help serve your community; and why it matters to the audience. Learn more.

If you are an Executive Director or serve as a Board leader, you may have encountered an unengaged board member who no longer contributes to your organization in a meaningful way. Learn four measures that will

If you have fears and frustrations about your investment portfolio, perhaps you aren't getting the right education and professional guidance. Learn how a Fiduciary Investment Advisor can give you peace of mind.

The "FIRE" movement ("Financial Independence, Retire Early") has gained a lot of momentum with Millennials. It's about living on a small percentage of income so you can retire 20-25 years early. At MCWS, we call this concept Financial Autonomy. Learn how we help clients achieve Financial Autonomy.

All humans possess psychological biases, and often they can lead to missed opportunities and poor decision-making. As an investor, understanding those psychological biases might help you be more aware of your own decision-making process. Find out what four key investing biases you should avoid to be successful in 2019.

After a thorough vetting of McKinley Carter’s practices and investment strategies, MCWS has been approved as a Third-Party Investment Manager with The Pittsburgh Foundation. Learn more.

A thorough recap of 4Q2018 Financial Markets and what may be ahead in 2019. Investors need to remember that successful investing is a marathon, not a sprint.

Your lifestyle is a reflection of the investment you’ve made in yourself – and that “personal” investment could change your life in a variety of ways. And, an investment in yourself is likely the very best investment you can ever make. So how do you invest in YOU? Here are nine ways to consider.

If offered an early retirement buyout by your employer, should you sign up or run away? At first glance, you might think the answer is pretty obvious; but each situation is different and, more often than not, early buyout options are complex and should be thoughtfully analyzed. Here are three crucial questions to ask yourself when considering a buyout option.

It’s officially the holiday season – a time of family, friends, and recognition of our blessings. It’s also a time that many generously choose to donate to their favorite charities. Unfortunately, this is also the time when those with unscrupulous motives prey on the unsuspecting. While we would hope we could spot a charity scam, sometimes it’s difficult especially when it’s one that pulls at our heart strings. Here are three crucial tips to ensure you don't get duped by a charity scam.

The risk of disability some time in your lifetime is out there for everyone, so should you do anything differently in your financial planning to address it? Because everyone’s individual financial situation is unique, there is no “one size fits all” answer here. But we can offer guidance on the right questions to ask when you have those important planning conversations with your trusted financial advisor.

While very few of us can give at the levels of famous philanthropists Bill Gates and Oprah Winfrey, we still have more financial resources to make a difference in our communities than we may realize. Here are some important factors to consider when you wish to leave a lasting legacy.

When you’re asked about your financial assets , where does your mind go? You might consider your savings account balance, a 401K, your investment portfolio, perhaps a second home. But did you ever stop and consider your CAREER as a financial asset? Most people don’t. But they should. Learn more.

Effective January 1, 2019, there are new changes to the Hardship Withdrawal provisions for retirement plans, thanks to The Bipartisan Budget Act of 2018. The new regulation brings about three significant changes that you should be aware of as you consider early withdrawals from your retirement plan.

For many of our clients, the great unknown is whether they will have a long-term care event, and if they should consider long term care insurance to help offset the cost. Like forecasting investment returns, we don’t have a crystal ball and can’t predict the future. However, we can use statistics to ground our thought process and make a more well-informed decision. Whether you need insurance or not, you most certainly should take the time to explore the options available to you and what might be right for your situation.

In mid-October 2018, t

After a third quarter (2018) that saw U.S. stock prices, as represented by the all-inclusive Russell 3000 Index, rise 7.13%, the index is now up 10.57% for 2018 following a 21.13% increase in 2017. Investors have now begun to question the staying power of this bull market in light of numerous concerns. Learn more.

McKinley Carter is proud to announce that after much work and dedication, we have been Certified by CEFEX -- the Centre for Fiduciary Excellence. This quality assurance confirms that McKinley Carter’s Retirement Plan Services team has been adhering to the best practices in the industry and always seeks to put clients’ needs ahead of their own. Read more about why working with a CEFEX-certified advisor is so important.

Preparing for a lifelong financial journey requires an understanding of the possibilities, potential resources, and identification of contingency plans. The journey likely will require navigating a series of obstacles through varying conditions. You don’t have to sacrifice a Good Life today for a Good Life solely in retirement. How can we live a Good Life now and in the future? Read about the six critical actions required to equip yourself for a Good Life, financially.

West Virginia's renewed surge in energy production is good news for the state's landowners. But are they prepared to capitalize on the impending growth? Find out how to anticipate future cash flow from your royalty checks and how your well's depletion rate affects your financial situation.

Knowing and appropriately cultivating your major donor prospects should be an ongoing practice for all nonprofit organizations. Learn how to create an actionable plan for each of the five donor archetypes.

What are the four categories of fiduciary decision-making that all nonprofit board members provide? Learn more here.

Simple advanced planning can save your loved ones much heartache when it comes to handling a medical emergency. Here are three things you can do to ensure your wishes will be followed.

If your advisor has been broaching planning topics of estate/legacy, long-term care, insurance, business succession, but it really doesn’t interest you right now, this story shows you should at least explore the options. You and your family will rest well in knowing that you are as prepared as you can be if/when tragedy strikes.

The second quarter of 2018 can be called a lot of things, but boring isn't one of them. Economic growth still looks healthy and corporate earnings are growing strongly. But there are several potential political risks to markets over the second half of the year. Learn more about what may be on the horizon.

Ever hear the old adage "sell in May and go away," warning investors to sell their stock holdings in May to avoid a seasonal decline in equity markets? While this approach to stock investing is not a prudent method to enhance long-term stock performance, does this adage apply to bond holdings?

Does the question "Am I going to outlive my retirement savings?" keep you up at night? We know stocks have a higher return than bonds, but they also have more price volatility. Here's why Dividend Growth Stocks might be the right answer for you and your situation.

Did you know gambling winnings are subject to both federal and state tax? Here's the 4-1-1 on the types of gambling winnings and the taxes that apply to each.

Parents have the power to build or destroy their children's financial futures. Proper legacy planning can make the difference to your child's future success.

After an historically calm 2017 where progressively better and better news on the economic front led to surging global stock markets, January 2018 witnessed a massive blow-off rally in stocks. However, February saw equity prices give back all of January’s gains. Read the market recap here.

McKinley Carter advisors pride themselves on a relationship-driven approach to their advisory work — one that engages the client as an active partner, and one where the advisor serves as a trusted fiduciary, confidante, and friend.

Retirement Planning should be a life-long mission. Here is some valuable retirement saving advice targeted to three audiences: (1) young people (in 20s and 30s) just starting their careers; (2) more mature, mid-career professionals; and (3) those closer to retirement (late 50s to early 70s).

If you're going through divorce, here's how to define yourself as a strong, independent single woman using a financial action plan of saving and budgeting.

Whether you are a sole proprietor or in business with partners, it’s critical to have a succession plan. Learn more about setting up a successful plan.

Working as trusted fiduciaries, we are just as invested in our clients’ dreams, fears, and challenges as they are. It’s our job to understand their situation and guide them through the retirement savings plan process...so we can give them the news they want to hear, 'Yes, you can retire!'

It's often difficult to think about. But here's how pre-planning for an aging parent's care will help you avoid much emotional, physical, and financial stress.

Succession planning doesn’t have to be a nightmare for nonprofit board members. Here are a few proactive steps to help you prepare for leadership change.

While very few of us can give at the levels of Melinda Gates or Oprah Winfrey, women still have more financial resources to make a difference in their communities than they may realize. Here are some important factors to consider to leave a lasting legacy.

No matter where you are in your wealth management journey, Risk Management is a foundational piece that should be addressed in any well-crafted financial plan.

In the U.S., wealth is shifting to women. In fact, they are expected to control 2/3 of private wealth ($22 trillion) by 2020. Here's how you can get involved.

Learn how Socially Responsible Investing (SRI) is impacting today's nonprofits and whether it compromises investment returns.

What are the two biggest challenges facing nonprofit executive directors today? Find out here...and learn what actions to consider to tackle those challenges.

Many people have illiquid assets and when setting up their estate plan, they may not be aware of the impact the estate tax will have on their heirs. Learn more

Life is full of unexpected surprises, both positive and negative. Learn what two things you need to better cope with those unwanted surprises.

To best leverage expertise and experience of our advisors, MCWS formed Specialized Practice Groups to serve as a resource for the firm and clients. Learn more!

Looking back at 2017, it was the best year for stocks since 2013. But what does the strong markets of 2017 mean for the 2018 outlook? Let history be our guide.

Did you know nonprofits are particularly at risk of unknowingly sabotaging their staff’s self-care? Here's how to ensure your nonprofit is healthy and happy.

It's that time of year when we think about New Year's resolutions. Here's why it's important to focus your goals not just on your personal health but also on your financial health.

Our financial life can begin with the feeling of being in over our head. Here's how to learn new skills and get comfortable making financial decisions.

For those age 70 ½ or older who are thinking about their year-end Required Minimum Distributions, you may want to consider using the QCD charitable gift option.

Don't let “Mission Creep” negatively affect your nonprofit. Learn the warning signs and how best to stay on course for those you serve.

If you're turning 50 years old, the IRS now gives you the opportunity to take advantage of the catch-up contribution provision in your 401(k) plan. Learn more!i s

Through the first three quarters of 2017, the benefits of global diversification have paid off for patient and disciplined investors. Learn more plus look ahead

Beware: The rules for inheriting an IRA from a parent, grandparent, or friend are much more complex than those for a spouse. Learn about the costly pitfalls!

McKinley Carter adds value to our wealth management, nonprofit, and retirement plan clients through the quality of service standards we provide. Learn more.

Buying your first home can be a daunting experience. But if you understand the four stages of home-buying, you will be better prepared and less anxious.

Identity theft is a real threat with increased online financial transactions and digital connections. Protect yourself with these ten free and easy tips.

Exit Interviews reveal why employees are leaving, but Stay Interviews help managers understand why employees stay and how to reinforce those factors.

Paying for a wedding can be a daunting task. Here are some great financial tips from a fellow millennial (and newlywed) to consider as you plan your big day.

Just like dealing with blind spots when driving a car, you may also experience "financial blind spots" in your life. Here are tips to successfully navigate them

Did you receive that dreaded IRS audit notification letter? Don't stress! Find out the Who, What, When, Where, and Why about IRS Audits.

We don't spend much time teaching our family members about money and good financial decision-making. Here are some successful methods for all generations.

Answers to two very common questions posed by clients about the current financial market.

Valuable information and FAQs about the new McKinley Carter client portal.

Before you agree to serve on a nonprofit board, ask the right questions about the nonprofit's expectations so the experience is a meaningful one for both of you

Sometimes the drive to grow your business may exceed the diligence needed for your personal investing. Learn how to do both at the same time, successfully!

Advanced financial planning is key to avoid stress when a family crisis occurs. But often families don't know where to start. Here are eight tips to guide you.

Women have much more difficulty saving for retirement than men because of the "wealth gap." Learn the reasons why and what to do to reach your retirement goals.

There are three skills that are key to crafting a strong financial future: Motivation, Mobilization, and Modification. Find out why all three are so important.

Business owners should consider their business and its associated risks when developing an overall wealth management strategy with their financial advisor.

With tax season over, here are some great financial tips to keep in mind regarding your kids and summer jobs, your ROTH contribution, capital gains, and more!

Successful executives have limited time, energy and other resources. Here's a toolkit that helps you eliminate distractions and focus on your lifetime goals.

Keeping track of spending can be a daunting task. To aid in the burden of sticking to a budget and monitoring spending, have a "money minute" each day.

On May 7, 2017, French voters will choose between Macron and Le Pen. How does this election impact investors?

McKinley Carter Wealth Services’ mission is to offer comprehensive investment programs to help our clients achieve their long-term financial goals.

As a registered investment advisor (RIA), we have always operated in a fiduciary capacity, thus avoiding the conflicts of interest for which the Fiduciary Rule is meant to address.

This is a review of some widely-held assumptions and an evaluation of whether investors could have benefitted by positioning their portfolios accordingly.

McKinley Carter offers guidance on something so very important, but so often overlooked by physicians—creation of a Succession Plan for their medical practice.I

As Baby Boomers continue to move past retirement and into needing long-term health care, the burden may be great for the children of Baby Boomers.

Women are largely underrepresented in STEM careers. Is there something more that we — parents, educators, and policy makers — should do to change that?

#1 indicator of investment performance is investor behavior. Work with a trusted financial advisor to navigate the forces that impact total financial picture.

The more you save; the better off you will be when you retire. How to know if you're really on the right track for retirement.

People have asked me in recent weeks whether they should make changes to investment portfolios as a result of recent developments in the presidential election.

Entrusted by our clients for wealth management, we find it very rewarding to fulfill our fiduciary commitment & help clients achieve their financial objectives.

McKinley Carter Wealth Services employs multiples levels of dual financial controls throughout our operations to protect our wealth management client assets.

Markets, over the long-term, are mostly moved by fundamentals, economic outlook, and, for the time being, central bank policies.

You’ve spent your working life building up your nest egg in a tax-efficient manner by allocating savings across tax-favored and taxable investment accounts.

In financial planning, we begin discussing year-end matters, such as deferring income, and harvesting tax losses, well before the end of the calendar year.

Most every family has a fault-line; important to keep in mind when having conversations about money and assets, and ultimately the distribution of those assets.

Study shows millennials who borrowed money to secure a college degree were more likely to achieve certain measures of financial success than graduates who did not.

After a relatively flat 2015, investors are experiencing a bumpy ride in 2016. In a persistently slow economy, investors are inclined to focus on negative news.

Even with the web & it's large amount of info, death and taxes are still certain in life, and the former has an important financial impact on the latter.

Serving financial planning clients is a far more comprehensive endeavor than simply provoking clients to think and take action concerning retirement.

The best time to start year-end planning is after you complete your tax return and realize how certain actions in the prior year could have changed things.

For many millennials, retirement is the destination, but in reality, retirement is just another step along the journey.

Headlines are full of another sell-off coming our way. It is not a question of if there will be unsettling declines in future markets, but when it will happen.

Do you remember that class that changed your personal finance behaviors for the better? If not, you’re not alone. No such class existed at my school either.

Retirement planning can be an enjoyable experience, when you focus and make needed corrections along the way when life throws you those curve balls.

No advisor can be all things to all people. To increase the chance you get the financial products and services you need, consider types of financial expertise.

The best way we can help our clients prepare for the unexpected is to ensure they have the right type and amount of insurance, and to review these coverages.

College saving: a sizable amount of prep & research needs to be done by parents & students alike in order to properly plan for a child’s financial funding.

Using a QCD, taxpayers may find that making a direct contribution from an IRA to a qualifying charitable organization can provide greater tax savings.

Time well-spent is considered an investment of time, so isn’t money well-spent considered an investment too?

Helping people avoid mistakes is one of the most reliable ways for the financial services industry to create meaningful value for clients.

If you have an accountant prepare your return, this contains some useful tips that may help reduce preparation costs, improve accuracy, & minimize tax notices.

Parents want to help their kids achieve financially secure careers. But many kids of high income parents end up earning far less than their parents. Here's why.

Many parents save money for their kids’ future college costs at the expense of their own financial futures. But did you know college costs are dropping?

Consider "blending" (not "balancing") those activities that improve your financial situation and your obligations to take care of yourself and your family.

Though online financial management technologies exist, many people still benefit from the coaching and support that comes from a professional financial advisor.

McKinley Carter helps its clients by helping them avoid mistakes with their money.

Exactly how do political developments affect one's investment behavior? Interesting results from academic studies are discussed here.

Many parents are intentional about teaching prudent financial practices to their children. But children learn more from their parents by just being around them.

When children see adults actively involved in philanthropy, it can inspire them. Steps to teaching children the joy of helping others.

Obesity and diabetes in China illuminates one factor driving stock market growth over next 20 years...What is it?

One of the most important concerns of our wealth management clients involves a resource even more finite than their money – their time.

Taking care of aging parents is an increasing reality for many baby boomers. We have entered, a perfect storm of increased longevity & rising healthcare costs.

A remarkably high percentage of people who have lots of money are not taking as good care of their financial situation as they could.

A remarkably high percentage of people who have lots of money are not taking as good care of their financial situation as they could.