If you're retired or approaching retirement, the 2024 tax season might have you focused solely on your current return. However, preparing your tax return is primarily backward-looking, while effectively reducing your future tax burden requires forward-thinking strategies. At Prosperity Capital Advisors (Prosperity), we know that true wealth management goes beyond ...

Navigating the complex financial landscape during a divorce requires careful planning, especially when it comes to retirement accounts. When a divorce occurs, the financial assets of a couple, including their retirement accounts, are often split. If mistakes are made during this process, the stress of a divorce can be compounded ...

After reaching more new highs recently, markets have experienced a pullback as well as heightened volatility. Understandably, market volatility may be the cause of some concern or fear. Headlines can further create the feeling of uncertainty, but staying focused on long-term fundamentals is critical. Given the current climate, we wanted ...

When it comes to managing wealth, most investors focus on returns. But what if the biggest impact on your financial future wasn’t how much you make—but how much you keep? The ultra-wealthy understand a fundamental truth: not all money is taxed the same. The tax code is filled with opportunities for ...

Financial planning, including life insurance for women, presents unique challenges that require careful consideration. On average, women are more likely to live longer than men, earn less over their lifetimes, and take career breaks for caregiving. Yet, despite these realities, when it comes to life insurance coverage, studies indicate that women tend to ...

Each year, market analysts attempt to predict where the S&P 500 will end the year. They issue estimates ranging from optimistic highs to cautious lows. Yet, time and time again, the actual market performance falls outside these predictions—often by a wide margin. Now, with the stock market near an all-time high, investors ...

These are important updates to required minimum distribution rules that may affect your retirement planning. New RMD Rules Are Here On July 18, 2024, the IRS issued both final regulations under the 2020 SECURE Act and proposed regulations under the SECURE 2.0 Act of 2022. These long-awaited new regulations impact many parts ...

As 2024 came to a close, many took time for self-reflection, particularly around financial goals. One question that frequently arises in wealth circles is "When is enough, enough?" This seemingly simple question is anything but—it goes beyond net worth targets and financial independence rules, touching on deeper themes of fulfillment, ...

In December 2024, Congress passed one of the most significant Social Security reforms in recent history. The Social Security Fairness Act of 2023 (H.R. 82) brings welcome changes for millions of Americans, particularly those who dedicated their careers to public service. What are the changes and how can they affect your ...

For many retirees, highly appreciated real estate represents both their greatest financial asset and their biggest tax headache. Selling means handing a significant portion of the gain over to federal and state taxes, but holding on isn't always practical either. Here's how one couple found a smarter path forward. A ...

If you're like most retirees and pre-retirees, you've spent decades building your nest egg. But have you considered how much of that hard-earned wealth might go to taxes instead of funding the retirement lifestyle you've always dreamed about? At Prosperity Capital Advisors, we know how proactive tax management can transform ...