Living Trusts: Understanding the Basics and Key Considerations
Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes.One popular tool that can be used in estate strategies is...Read More
Trying to Time a Recession?
Economies move in cycles – always have, always willThe Federal Reserve has been steadily increasing interest rates in an attempt to slow the rate of inflation. Its efforts are yielding some results, although inflation remains...Read More
What Factors Have the Greatest Impact on Your Credit Score?
Fun fact: You probably have dozens of credit scores out there, and each one might be a different number.You’re probably familiar with a credit score, why it’s essential, and what it’s used for, but do you know how...Read More
Important Financial Considerations to Make When Remarrying Later in Life
Discussing personal finances is important for any couple preparing for marriage. However, this topic can be more complicated for those who remarry later in life.If you’re remarrying later in life, one of your goals should be to...Read More
Top Considerations to Help Adult Children Be Better Prepared As You Age
As we get older, it’s important that our adult children are prepared to manage any aging-related situations that may arise. This includes everything from having to make medical and financial decisions to determining assisted...Read More
Money with Murphy
Money with Murphy: Banking Crisis Deja Vu Kara draws on her experience as a bank analyst during the global financial crisis and reviews lessons learned 15 years ago and what makes this time different in this week’s...Read More
Markets in a Minute
Markets in a Minute: Is the Banking System at Risk?On March 10, the Federal Deposit Insurance Corporate (FDIC) officially took over Silicon Valley Bank in order to protect depositors, marking a remarkably swift end to a bank that had...Read More
Advanced Estate Planning Concepts for Women
You will need to think about the disposition of your assets at your death and any tax implications. Statistically speaking, women live longer than men.Read More
Money with Murphy
Money With Murphy: China's ReopeningChina is finally reopening after years of rolling lockdowns. What impact will this have on the global economy?What this week's Money with Murphy to get Kara's take. https://vimeo...Read More
Markets in a Minute: Battle Royale- The Federal Reserve Versus Inflation
Inflation is looking stubbornly persistent, and the economy is stronger than expected. How much longer can the Fed stick with its current plan of attack? Kara breaks down recent inflation stats and shares her outlook in this...Read More
What is self-employment tax? If you are self-employed, you generally must file a Schedule SE, Form 1040, and pay an additional tax on your self-employment income.Read More
Women and Money: Taking Control of Your Finances
As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to start saving for your child's college education.Read More
Retirement Plans for Small Businesses
As a business owner, you should carefully consider the advantages of establishing an employer- sponsored retirement plan. Generally, you're allowed certain tax benefits for establishing an employer- sponsored retirement plan.Read More
DCEO Magazine | Dallas 500
Join us in congratulating Frannie Gardner for making the Dallas 500 List!Read More
What is it?What is a financial affidavit and how is it used in a divorce context?When divorce proceedings are commenced, each spouse is required to fill out a financial affidavit.Read More
Tax Planning for Marriage and Divorce
What is tax planning for marriage and divorce?If you're married or considering a divorce, you should be aware of the income tax ramifications of the financial decisions you'll be making.Read More
Annuities and Retirement Planning
You may have heard that IRAs and employer-sponsored plans [e.g., 401(k)s] are the best ways to invest for retirement. That's true for many people, but what if you've maxed out your contributions to those accounts and want to save more?Read More
Life Insurance at Various Life Stages
Your need for life insurance changes as your life changes. When you're young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows.Read More
Using the "3-6 Months Rule" to Determine Your Cash Reserve Needs
What is the 3-6 months rule?The 3-6 months rule is a broad rule of thumb commonly used as the starting point for determining a cash reserve goal. The first question that typically arises is, three to six months of what?Read More
How can I reduce my spending?
To reduce your spending, you first need to know where your money goes. Start out by keeping track of all of your expenses for a month. None are too small or insignificant: the daily newspaper, coffee on the way to work, etc.Read More
Saving for Retirement and a Child's Education at the Same Time
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two?Read More
Teaching Your Child about Money
Ask your five-year old where money comes from, & the answer you'll probably get is "From a machine!" Even though children don't always understand where money really comes from, they realize at a young age that they can use it to buy things.Read More
Kids under 26? What parents need to understand about the HIPPA laws
Oftentimes, in our discussions with parents, we find that many parents are simply unaware that they are not entitled to information regarding their adult child's medical information.Read More
Few terms in personal finance are as important, or used as frequently, as "risk." Nevertheless, few terms are as imprecisely defined.Read More
Retirement Plans for Small Businesses
If you are self-employed or own a small business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future.Read More
Buying a Home
There's no doubt about it--owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful.Read More
Taking Advantage of Employer-Sponsored Retirement Plans
Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be.Read More
Rolling Over Funds from an Employer Retirement Savings Plan: What You Need to Know
When you leave your employer, you have several options available to you for managing your retirement savings plan assets.Read More
Asset Protection in Estate Planning
You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors.Read More
Should You Buy Long-Term Care Insurance?
The longer you live, the greater the chances you'll need some form of long-term care.Read More
Taxation of Investments
Taxation of Investments It's nice to own stocks, bonds, and other investments. Nice, that is, until it's time to fill out your federal income tax return. At that point, you may be left scratching your head.Read More
Six Keys to More Successful Investing
A successful investor maximizes gain and minimizes loss.Read More
Determining Your Retirement Income Needs
What is it? Determining your retirement income needs is a process that helps you identify your retirement planning needs based on your desired standard of living and the resources you'll have available.Read More
Trust Basics Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals.Read More
Budgeting: Calculating Your Net Worth
Your net worth is your personal bottom line. It's what your total holdings are worth after subtracting all of your financial obligations. In financial terms, your net worth is equal to your total assets minus your total liabilities.Read More
Should I invest my extra cash or use it to pay off debt?
Answer: To answer this question, you must decide how your money can work best for you. Compare the money you might earn on other investments with the money you would pay on your debt.Read More
Russia-Ukraine War: The Crude Awakening
Gauging the Impact of Geopolitical Events on the Capital Markets [Report]
Should I be investing more aggressively?
There's no way to know the answer to that without reviewing your individual circumstances and financial goals. However, if you are investing too conservatively, it can have a profound effect on your long-term financial security. How...Read More
Should I invest in a Roth IRA or a traditional IRA?
There is no easy answer to this question. Traditional IRAs and Roth IRAs share certain general characteristics.Read More
FAFSA: How do I know if our family is eligible for federal financial aid?
Lump-Sum Investing vs. Periodic Investing
If I prepay next year's taxes this year, can I deduct them this year?
Bonds, Interest Rates, and the Impact of Inflation
DCEO Magazine Dallas 500 (2021)
Please join us in congratulating Frannie Gardner, Founder & Managing Partner of Gardner Wallace, on making D CEO Magazine's Dallas 500 List of the most influential business leaders in Dallas, Texas!Read More
Appropriate Checklists for Year-End Tax Planning
What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...Read More
Members of the Military: Personal Financial Planning
Financial planning is the process that can help you pursue your goals by evaluating your whole financial picture, then outlining strategies that are tailored to your individual needs and available resources. Just as the success of a...Read More
Gardner Wallace Named "Best Financial Planners In Dallas"
We're pleased to announce our 2021 recognition in D Magazine as "Best Financial Planners in Dallas"! Thank you to our clients, team, colleagues, and family for making this possible! The November issue hits newsstands this week (October...Read More
How can I get credit if I have no credit history?
It's the old catch-22. You cannot establish a credit history without having credit, and you cannot get credit without a credit history. But if you work at it, this problem can be overcome. While you create a history, be sure your...Read More
What Rising Rates Could Mean for Your Money
After years of keeping the benchmark federal funds rate at historic lows, the Federal Reserve has been raising it gradually. Near-zero rates were an emergency measure, and gradual increases reflect greater confidence in the U.S....Read More
Should I withdraw money from my IRA to pay for my child's college tuition?
If you're considering withdrawing money from your traditional IRA or Roth IRA to pay for college, you'll want to evaluate several factors: How many years you have until retirement Your retirement balances The amount of money you intend...Read More
What makes up my taxable estate?
Your gross estate for federal estate tax purposes includes: All property that you own at death (e.g., real estate, investments, business interests, personal property, mortgages held by you) Property you have given away while retaining...Read More
Government Bond and Money Market Funds
What is a government bond fund? A government bond fund is a bond mutual fund that invests in debt instruments issued by the U.S. government and its agencies. The broad category of government securities includes U.S. Treasury...Read More
International, Global, Regional, and Emerging Markets Funds
Looking beyond U.S. borders In the past, American investors have focused largely on U.S. markets. However, that is rapidly changing. Although U.S. equities still represent the single largest segment of the global stock market, more...Read More
What is the difference between growth stocks and value stocks?
Investors are often confused about the differences between growth stocks and value stocks. The main way in which they differ is how they are perceived by the market and, ultimately, the investor. Growth stocks are associated with...Read More
Eleven Ways to Help Yourself Stay Sane in a Crazy Market
Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It's useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are...Read More
Have You Checked Your Retirement Plan Lately?
It's generally a good idea to review your employer-sponsored retirement savings plan at least once each year and when major life changes occur. If you haven't given your plan a thorough review within the last 12 months, now may be a...Read More
Getting Married Checklist
Getting Married Checklist General information Yes No N/A 1. Has relevant personal information been gathered? · Names, ages, health statuses · Dependents · Children from previous marriages 2. Has financial situation...Read More
Money Issues That Concern Married Couples
What is it? Marriage is an important step in anyone's life and brings many challenges with it. One of those challenges is the management of your finances as a couple. The money decisions that you make now as a couple can have a...Read More
Integrating Employee and Retirement Benefits When You Marry
What is it? Marriage is a major life event that can change more than your last name or living situation. Your change in marital status can also alter the benefits you receive from your employer. When you marry, you and your spouse...Read More
Can I take money from my IRA without any penalty?
It depends. If you are 59½ or older, you can take money from your traditional IRA without penalty. In contrast, if you withdraw from your IRA before age 59½, the taxable portion of your distribution may be subject to a...Read More
What is it? Definition A prenuptial agreement (also known as a premarital agreement, antemarital agreement, or prenup) is a binding contract executed by prospective spouses to define the rights, duties, and obligations of the parties...Read More
Planning for Marriage: Financial Tips for Women
Planning for marriage should involve more than just picking out invitations and deciding whether you should serve chicken or fish at the reception. More importantly, you'll want to take a look at how marriage will impact your...Read More
Creating an Investment Portfolio
You've identified your goals and done some basic research. You understand the difference between a stock and a bond. But how do you actually go about creating an investment portfolio? What specific investments are right for you? What...Read More
Bear Markets Come and Go
The longest bull market in history lasted almost 11 years before coronavirus fears and the realities of a seriously disrupted U.S. economy brought it to an end. If you are losing sleep over volatility driven by a cascade of...Read More
Establishing a Budget
Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals...Read More
Women's History Month
In celebration of Woman's History Month, we asked the women of Gardner Wallace: "What do you enjoy most about working in the financial industry? Here's what they shared:Read More
Financial Basics for Millennials
With age comes responsibility, so if you're a young adult in your 20s or 30s, chances are you've been introduced to the realities of adulthood. While you're excited by all the opportunities life has to offer, you're also aware of your...Read More
IRA and Retirement Plan Limits for 2021
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a...Read More
How can I benefit from tax-advantaged investments?
For many people, tax-advantaged investing is an excellent way to reduce their income tax liability. And while many of the traditional tax-advantaged strategies have been eliminated, there are still alternatives left that can help you...Read More
Practice Spotlight: North Texas Food Bank
Gardner Wallace Financial Solutions has committed to providing 1,500 meals per month to families, children, and seniors in 2021. We are honored to help those in our community and we thank the North Texas Food Bank for their work.Read More
Important Information Regarding 1099s
Tax information statements, which includes your 1099 forms, will be delivered as early as possible. Companies will begin mailing 1099 tax statements by January 31, 2021. Please be aware that some issuers do not make their final...Read More
In The News: D CEO Magazine (Dec. 2020)
This excerpt was originally published December 23, 2020 from D CEO Magazine. View the original article here. It’s safe to say that we’re all ready to bid goodbye to 2020. The editors of D CEO recently checked in with area...Read More