8 Critical Steps to Take When Receiving an Inheritance
Abacus Wealth Partners
by Daria Victorov
5d ago
People inherit an average of $46,200 during their lifetime, though this number can vary greatly depending on the size of your family’s estate. While many of us may receive an inheritance, it can be overwhelming to unexpectedly receive a large sum of money, especially when we’re still mourning the loss of a family member. Grief is a powerful emotion and it tends to cloud judgment. It is important for us to take time to grieve during this process. At times grief can overshadow people’s ability to make practical financial decisions, even if they want to use their inheritance in a meaningful wa ..read more
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Closing the Gap: Overcoming Gender Wage Inequality
Abacus Wealth Partners
by Neela Hummel
2w ago
Women earn around 83 cents for every dollar their male counterparts earn. Just let that sink in for a minute.  Meanwhile, this startling fact only scrapes the surface of the full impact gender wage inequality has on women in the workplace. It doesn’t account for women of different races, different ages, or who work in different industries. For example, Black women earn 70 cents to a man’s dollar and Hispanic women earn 65 cents, highlighting an even more alarming discrepancy for women of color.  Gender wage inequality is certainly not new; it’s had a direct impact on women’s financi ..read more
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Presenting the 2023 Abacus Wealth Partners Impact Report
Abacus Wealth Partners
by Abacus Wealth Partners
2w ago
We are delighted to present the inaugural edition of the Abacus Wealth Partners Impact Report. As a values-aligned financial planning and investment firm, we are committed to amplifying the impact work we have been doing – both past and present – and how we will continue to engage with this work in the future.  The 2023 Abacus Impact Report is a comprehensive overview exploring the areas where Abacus has made a substantial impact over the past year. It offers a detailed examination of our actions through three distinct lenses: financial advice, investments, and our contributi ..read more
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When and Why You May Need an Accountant
Abacus Wealth Partners
by Kyle Williams
3w ago
Navigating the complexities of the vast landscape of personal and business finances can feel like trying to decipher a cryptic code. Enter the unsung hero of fiscal sanity: the accountant.  There are many financial reasons to hire an accountant, some of which people are generally aware of: financial expertise, time savings, tax planning and optimization, and bookkeeping, to name a few. And yet, there are also some surprisingly human reasons to hire an accountant. Accountants are not just numbers people. They often have great empathy and understanding as well. In many ways, a tax r ..read more
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Goodbye to Mint.com: 3 Alternative Budgeting Apps to Consider
Abacus Wealth Partners
by Neela Hummel
1M ago
In 2009, this doe eyed financial planner fell in love. And no, I don’t mean with my husband. I’m referring to Mint.com, one of the first budgeting apps.  Mint offered everything I never knew I was looking for – data aggregation, categorization, rules-based budgeting, spending tags, spending trends, you name it. For the last fourteen years, Mint.com has been my trusty companion as my financial life changed and adapted to marriage, home ownership, job changes, kids, partnership at Abacus, you name it. Like a good friend, it’s been there through thick and thin. Sadly, Mint.com and its ove ..read more
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2024 Tax Planning Tips for Retirees
Abacus Wealth Partners
by Kasey McManis
1M ago
Transitioning to retirement requires plenty of careful planning. But did you know that retirement brings a new set of tax considerations and challenges?  In your working years, you might have been a W-2 employee, which meant your taxes were automatically withheld from your paycheck. Unless you earned additional income from dividends, rental income, or contract work, you may not have had to make estimated payments or set aside some of your savings to cover additional tax obligations. But in retirement, you’ll need a tax strategy that accounts for your various income sources – especially ..read more
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Q4 Reflections: Easing Financial Conditions, Key Lessons from 2023, and What Investors Can Do in 2024
Abacus Wealth Partners
by Lindsey Woodward and Matt Rivera
1M ago
Fourth Quarter Market Review In the last quarter of 2023, there was a notable easing of financial conditions. The Federal Reserve, acknowledging in October that the proceeding months had witnessed a tightening of financial conditions, indicated a dampened need for additional rate increases. This sentiment was reinforced by the Fed’s decision to hold interest rates steady throughout the quarter. By December, policymakers were projecting three rate cuts in 2024, signaling a supportive monetary policy environment. Against this backdrop, the disinflation trend gained further momentum, as shown in ..read more
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Transforming Your Money Mindset: Shifting from Scarcity to Abundance
Abacus Wealth Partners
by Danny Smith
1M ago
We’re all susceptible to biases and unhealthy relationships with money. Even financial advisors hire their own financial advisors. It isn’t because we aren’t confident in our ability to manage our own finances, it’s that we are aware that it is difficult for anyone to exclude the emotions tied to the money we’ve worked so hard to earn and save. Those emotions are what can cause us to make rash decisions, preventing us from methodically protecting the nest egg we’ve built up.  This is how your mindset can play a significant role in your financial success. When you’re clear-headed, motiv ..read more
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Navigating Divorce: A Comprehensive Guide for Women
Abacus Wealth Partners
by Lara Lamb
2M ago
Divorce is an intensely personal and transformative life transition that can leave women facing a myriad of emotional, financial, and legal challenges. It is a journey that often feels like uncharted territory, filled with uncertainties and complexities. In the face of divorce, women can experience a wide range of emotions, from fear and sadness to empowerment and renewal. As a pivotal turning point, divorce not only marks the end of one chapter but also signifies the beginning of a new, untold story. Understanding the profound significance of divorce as a life-altering event is crucial. It ..read more
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One More Year Until Retirement? Here’s What to Do
Abacus Wealth Partners
by Rasheed Ahmed
2M ago
Retirement is a milestone many people look forward to achieving, and often marks the beginning of an exciting new chapter in life. With the financial freedom to spend your days traveling, visiting loved ones, engaging with your grandchildren, or even exploring an encore career, retirement can be full of possibilities and offer opportunities for a new kind of fulfillment. If you are just 12 short months from retiring, congratulations! Now’s the time to focus on making intentional, strategic decisions impacting your financial readiness for this transition. Let’s look at considerations you can ..read more
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