SML Planning Minute

It wasn’t that long ago that Regis Philbin drew massive viewers with his TV program Who Wants to be a Millionaire. Never mind the fact that the top prize was $1 million before taxes, which is considerably less than $1 million after taxes. But in today’s economy, being a millionaire does not necessarily project the same status it once did. Or does it?

Over the years, it seems that each of us—whether by choice or not-- has been moving gradually from paper statements and checks to digital. Is it time to cut the cord completely?

Episode 365 - Have you gotten married recently? The next steps are considerably less exciting. There are some important financial steps you need to take.

Episode 364 - According to an estimate by Experian, the average American adult holds $6,501 in credit card debt. Is there a way out? Here are six things that you might want to try.

Episode 363 - It is perhaps not surprising that a lot of the financial advice you get on social media is misleading. A recent study shows us just how bad the situation is.

Episode 362 - So, you’ve been estranged from one of your children for years now. Your feelings are hurt, and the relationship seemingly has no chance of recovery. Now what? You can certainly disinherit your child if you wish. But beware: it’s more complicated than you may realize.

Episode 361 - The effective date of the New York Limited Liability Company Transparency Act, January 1, 2026, is nearly upon us. If your business was created in, or authorized to do business in, New York, you may be affected. If so, are you prepared to comply with its mandates and regulations?

Episode 360 - It seems like online scammers usually have the upper hand. The bad guys come up with a new scheme, and eventually the good guys figure it out and make changes. But then bad guys come up with more new schemes. Here are some of the latest tricks of the scamming trade.

Episode 359 - A few weeks ago we took an in-depth look at some of the things wealthy people understand that the rest of us tend to miss. Today, we’ll take a look at the opposite: some financial mistakes that even wealthy people tend to make, and how we can help avoid them.

Episode 358 - Deciding when to collect Social Security is one of the most important financial decisions you’ll ever make. Make a mistake there and you’ll pay for it—every month for the rest of your life. But what if you want to retire early? That doesn’t mean you also need to collect early. A “bridge” strategy can be an important tool to get you through those years between giving up your job and collecting Social Security. It could make you much better off in the long run.