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Hi, and welcome to “We Bring Your Money to Life,” a blog where I’ll share timely topics and tips that can help you reach your financial goals while gaining a better understanding of how taxes and investing affect your personal financial situation. At Campbell Wealth Advisors, we know that financial goals are as varied as the people who seek them. So, whether you dream of retiring early or working as long as possible, this blog is for you!  

~ Carla Campbell, CPA, CFP

Wednesday, May 22, 2024

A few years ago, there were ads from financial services companies asking, “What’s your number?” The number was the money you needed to retire comfortably. This was an effective way for financial services companies to get people...

Wednesday, May 8, 2024

There isn’t a week that goes by when you don’t read about some data breach. Safeguarding your personal information starts with understanding cybersecurity risks, knowing what to look for, and doing everything you can to help protect...

Tuesday, April 16, 2024

At the end of 2025, portions of the Tax Cuts and Jobs Act (TCJA) are set to expire. Many changes will come with the sunsetting of many rules, including the possibility that federal estate and gift tax exemption levels will revert to...

Tuesday, April 2, 2024

Give your children the gift of financial literacy. They’ll thank you later! As a parent, you are well aware of your responsibility in helping your children grow up happy and healthy. Once they enter their teen years, the pressure can...

Tuesday, March 26, 2024

As the presidential election race heats up, a common question on investors’ minds is, “How might the looming White House vote impact the markets?” Some may wonder if they should tweak their portfolios or sit tight...

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Tuesday, March 12, 2024

Experts estimate there are more than 44 million people with disabilities in the U.S., representing 13.4% of the population.1 Many parents of children with disabilities choose to establish a special needs trust. This can help provide...

Friday, March 1, 2024

I'm thrilled to announce that I've officially joined a prestigious study group focused on IRA distribution planning. This exciting step underscores my dedication to serving you, my valued clients, with the utmost expertise and care....

Monday, February 12, 2024

Money can be a touchy subject, especially regarding our closest relationships. Whether we like it or not, finance plays an integral role in our partnerships, families, and friendships. So, how can we foster healthy attitudes and...

Tuesday, February 6, 2024

In the ever-evolving financial landscape, staying informed about the latest changes and potential implications for your retirement savings is crucial. Shifts in retirement regulations define 2024, and we’re committed to keeping...

Friday, February 2, 2024

Introduction Explore the power of Opportunity Zones—unique investment zones created under the 2017 Tax Cuts and Jobs Act. In this brief guide, we'll unravel the essentials, from the role of Opportunity Funds to the attractive tax...

Tuesday, January 23, 2024

It’s a fun time of year for football fans. The NFL playoffs are starting, and the Big Game is just around the corner. While football fans will tune in for the matchups, commercials, and Usher’s Big Game halftime show, you...

Monday, January 22, 2024

Is Your Financial Advisor Prepared to Safeguard Your Wealth?  After dedicating a lifetime to building wealth for your retirement and family, it's crucial to ensure that your money is protected from IRS scrutiny and potential...

Tuesday, January 9, 2024

With the start of the new year, we wanted to discuss a topic that will likely garner attention throughout 2024: the potential sunsetting of the Tax Cuts and Jobs Act (TCJA) in 2025. Although some of the provisions within the TCJA are...

Friday, December 29, 2023

It is almost time to ring in the New Year! As December makes way for January, you may be excited thinking about new possibilities. Perhaps you want to take a moment to "refresh and reset" or make a resolution or two. Or perhaps you...

Monday, December 18, 2023

The Senate and the House have returned to work but are unlikely to get much done before the Christmas break— which means January is going to be busy. To recap, Congress passed a short-term budget package before the Thanksgiving...

Friday, December 15, 2023

As expected, the Fed held interest rates steady at their last two-day meeting of 2023. This marks the third consecutive meeting where the Fed has not raised rates. The Fed signaled that inflation is improving more rapidly than it had...

Monday, December 11, 2023

Your Child is Turning 18: Handling Healthcare, Academics, and Finances Together As your child blows out the candles on their 18th birthday, you may still see your baby girl or boy. But in the eyes of the law your child is considered a...

Monday, December 4, 2023

As we get ready to turn the page on 2023 and welcome the new year with all its possibilities, we’d like to take some time to reflect on the year that was—the notable events, trends, and developments that defined our...

Thursday, November 30, 2023

How Will Working Affect Social Security Benefits? In a recent survey, 73% of current workers stated they plan to work for pay after retiring.1 And that possibility raises an interesting question: how will working affect Social Security...

Saturday, November 11, 2023

It's never too early to start thinking about your retirement savings and withdrawal strategies. By planning ahead, you can take advantage of compounding interest and maximize your savings potential. It's important to consider factors...

Tuesday, November 7, 2023

Feeling fantastic celebrating 24 years with Avantax in Chicago networking with my peers as we look forward to the future and our new Cetera partnership!

Friday, November 3, 2023

The Social Security Administration recently announced that over 71 million Americans, including Social Security and Supplemental Security Income beneficiaries, will receive a 3.2% increase in their benefits for 2024.1 However, it is...

Friday, October 27, 2023

Retire Happy: Set yourself up for success. Visualize what you want to do with your time, where you want to live and how you plan to stay active.

Tuesday, October 24, 2023

Many of us have adapted to a world with remote team members and back-to-back Zoom calls with customers spread across the country, which certainly has its benefits. Nevertheless, one drawback is the difficulty of getting together in...

Friday, October 20, 2023

What is an Annuity? What you should know about them. Individuals hold about $2.2 trillion in annuity contracts; a tidy sum considering an estimated $9.2 trillion is held in all types of IRAs.1 Annuity contracts are purchased from an...

Tuesday, October 17, 2023

SECURE 2.0: Changes Going Into Effect in 2024 Passed in 2019, the SECURE Act was the most substantial retirement legislation in over a decade. It contained important changes designed to help investors save more and be better prepared...

Tuesday, October 3, 2023

Time to Think About Year-End Financial Strategies As we roll into fall and the fourth quarter, now is a good time to pause and reflect on proactive ways to set up your finances for 2024. Economically speaking, we are now in a much...

Wednesday, September 20, 2023

If you've heard CEOs mention "A.I." multiple times during second-quarter conference calls, you're not imagining it. There have been an astounding 1,072 mentions of A.I. (and counting) so far.1 Some believe that A.I. has the potential...

Wednesday, September 13, 2023

The stock market rebound has significantly increased the number of workers with $1 million or more in their workplace retirement accounts. According to Fidelity Investments, employees with 401(k) balances exceeding $1 million rose 26...

Friday, September 8, 2023

If it feels like the financial markets are lurching from news event to news event in recent weeks, you’re right. They are. The markets were on pins and needles waiting for Fed Chair Powell to deliver his talk at the Jackson Hole...

Sunday, August 20, 2023

Many states across the nation are passing legislation to provide workers with access to employer-sponsored retirement plans. It’s a huge step forward in helping people save, and we at Avantax are proud to be one of your options...

Friday, August 11, 2023

August 14th is National Financial Awareness Day, which is designed to encourage individuals and families to evaluate their finances and establish standards, goals, and a plan to build a solid financial future.  View this...

Friday, August 11, 2023

August 14th is National Financial Awareness Day, which is designed to encourage individuals and families to evaluate their finances and establish standards, goals, and a plan to build a solid financial future.  View this...

Monday, August 7, 2023

Every year, about 140 million households file their federal tax returns. For many, the process involves digging through shoe boxes or manila folders full of receipts; gathering mortgage, retirement, and investment account statements;...

Wednesday, August 2, 2023

Now that summer is in full swing, it's the perfect time to take a trip. But sometimes, even your best-laid plans go a little off-kilter. Here are a few of the most common travel issues and how to make sure that no matter what happens,...

Friday, July 21, 2023

In 2023, if a plan provides this option, a participant can contribute up to $22,500 ($30,000, if age 50 or older) in pretax compensation and as much as $43,500 as an after-tax contribution to a 401(k) plan for a total of $66,000 ($73...

Friday, July 14, 2023

The mega backdoor Roth contribution incorporates your 401(k) and allows for potentially larger contributions than a nondeductible IRA to Roth conversion. How the strategy works: Once you make after-tax (not Roth) contributions to...

Monday, July 10, 2023

The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels.Individual Retirement...

Wednesday, May 24, 2023

Will you pay higher taxes in retirement? It’s possible. But that will largely depend on how you generate income. Will it be from working? Will it be from retirement plans? And if it does come from retirement plans, it’s...

Tuesday, May 9, 2023

Retirement Distribution Planning:Main Distribution Methods: There are several methods for distributing retirement funds, including staying put and making no changes, taking a lump-sum distribution, setting up systematic withdrawals, or...

Tuesday, March 21, 2023

Global unrest, inflation, energy costs -- it’s understandable that you might be wondering what’s coming next, and how it will impact your financial goals. Market swings are a normal part of investing, and one of the main...

Tuesday, March 14, 2023

Cash Sweep FeaturesThere are two sweep features for clients to earn income on uninvested cash balances in their account – the Bank Deposit Sweep (one for natural persons and one for all other types of customers) and the Money...

Tuesday, March 7, 2023

Traditional vs. Roth IRATraditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 36.6 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by...

Tuesday, February 28, 2023

When it comes to retirement, women may face unique obstacles that can make saving for retirement more challenging. Given that women typically live longer than men, retirement money for women may need to stretch even further.1Despite...

Friday, February 3, 2023

You won't pay taxes on the potential growth of your funds in a Roth IRA account, and you can take money tax-free in retirement.Roth IRA A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars....

Tuesday, October 4, 2022

Most people are used to having a percentage of their paycheck withheld for Social Security. The withholding rate in 2022 stands at 6.2% for individuals and another 6.2% for their employers, for a total of 12.4% per person.1  But...

Wednesday, July 7, 2021

With June officially behind us, it’s time to face the facts: we’re headed toward the second half of 2021. While there’s still plenty of time to enjoy the rest of summer, we encourage you to slow down and check up on...