Blog

Starting a Roth IRA for a Teen

Want to give your child or grandchild a financial head start? A Roth IRA might be a choice to consider. Read on to learn more about how doing this may benefit both of you.Rules for setting up a Roth IRA. If your teen has an earned...

How Women Can Prepare For Retirement

When our parents retired, living to 75 amounted to a nice long life, and Social Security was often supplemented by a pension. The Social Security Administration (SSA) estimates that today’s average 65-year-old woman will live to...

The Investment Risk No One’s Ever Heard Of

Knowledgeable investors are aware that investing in the capital markets presents any number of risks, including interest rate risk, company risk, and market risk. Risk is an inseparable companion to the potential for long-term growth....

Inflation and the Real Rate of Return

The real rate of return is an important personal finance concept to understand.It’s the rate of return on your investments after inflation. The real rate of return indicates whether you are gaining or losing purchasing power with...

Emotional vs. Strategic Decisions

Information vs. instinct. When it comes to investing, many people believe they have a “knack” for choosing good investments. But what exactly is that “knack” based on? The fact is, the choices we make with...

All Muni Bonds Are Not Created Equal

The city of Detroit emerged from bankruptcy in 2014. Still, its previous inability to pay investors left some questioning their long-held assumption about the relative safety of municipal bonds.

Secure Act 2.0: An Overview

In the final days of 2022, Congress passed a new set of retirement rules designed to facilitate contribution to retirement plans and access to those funds earmarked for retirement.

Five Most Overlooked Tax Deductions

Who among us wants to pay the IRS more taxes than we have to?While few may raise their hands, Americans regularly overpay because they fail to take tax deductions for which they are eligible.

Silicon Valley Bank

For the Federal Reserve, credibility is everything. And its credibility is being tested by how it plans to manage the banking system in the days leading up to its March 21-22 meeting. Last month, Fed Chair Powell confidently told...

When Life Insurance Becomes Taxable

According to the most recent estimates from the US Census Bureau, the population of people over the age of 55 grew twenty times faster than the population of people younger than 55 between 2010 and 2020.

Tax Rules When Selling Your Home

How the gains from the sale of a primary residence are taxed has changed in recent years. If you have recently sold your home or are considering doing so, you may want to be aware of these new rules.

Does Your Child Need to File an Income Tax Return?

As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn?

You May Need to Make Estimated Tax Payments If…

You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment, interest, dividends, alimony, rent, realized investment gains, prizes, and awards.

We're Hiring: Client Service Administrator Position

Condon Sullivan Wealth Management and Planning is hiring for a Client Service Administrator Position.

Your RMD (Required Minimum Distributions) Questions Answered

The year-end is approaching and you may have questions about RMDs (Required Minimum Distributions). Once you reach age 72 (age 70½ if you attained age 70½ before 2020), the IRS requires you to start withdrawing from—and...

And the Executor Is

U.S. Supreme Court Justice Warren Burger is famous for more than just his time on the bench. When he died in 1995, he left a 176-word will that gave no specific power to his executors.

Four Steps to Valuing an Estate

Determining the value of an estate is a fundamental first step in estate management and a critical requirement for settling a decedent’s estate.1How to Assess the Value of an EstateSelect the date of calculation. 

Managing Probate When Setting Up Your Estate

The probate process can be expensive for some estates. Settling an estate through probate can cost you both time and money. It could take up to a year for the estate to be settled, plus attorney’s fees, appraiser’s fees, etc.

Managing an Inheritance

Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have...

Estate Planning After a Second Marriage

Marrying again makes estate planning more involved. How do you provide for everyone you love? Should you provide for everyone you love?

Buying Low

A market downturn can have a potential upside for retirement savers.

Creating a Retirement Strategy

Most people just invest for the future. You have a chance to do more.

What Happens When There Are No Beneficiaries

Some accounts have no designated beneficiary. Rarely, the same thing occurs with insurance policies. This is usually an oversight. In exceptional circumstances, it is a choice.

Required Minimum Distributions 101

If you are approaching your seventies, get ready for required minimum distributions. You may soon have to take RMDs, as they are called, from one or more of your retirement accounts. 

Taking Charge of Your Financial Life

When you are putting together a household, it isn’t unusual to delegate responsibilities. One spouse or partner may take on the laundry, while another takes on the shopping.

Couples Retiring on the Same Page

What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar?

Getting (Mentally) Ready to Retire

A successful retirement is not merely measured in financial terms. Even those who retire with small fortunes can face boredom or depression and the fear of drawing down their savings too fast.

Why Don’t All Affluent People Become Wealthy?

Why do some people let their potential for lifetime wealth slip away? Some people are better off economically at 30 or 40 than they are at 50 or 60.

Inflation's Overreach

What do The Dukes of Hazzard, M*A*S*H, and The Love Boat all have in common? They were top-rated television programs in 1982; the last time inflation was hovering in the 7% range.  

Inflation Creeping into Personal Finances

If you have a balance on a credit card or an adjustable rate mortgage, you might be noticing changes in your payments.

Making Sense of Seemingly Inconsistent Numbers

Wise investors take the “big picture” view.

The Underutilized Benefits of a Health Savings Account

Healthcare can be one of the priciest yet essential parts of life’s journey. And yet, many struggle to utilize the financial tools that may help. Take Health Saving Accounts (HSAs), for example.  

Retirement Preparation Mistakes

Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.   

Annual Tax Guide - A Guide to 2022 Tax Law Changes

 Understand Where Your Federal Tax Dollars Go In this guide, we will explore where your tax dollars go, some of the ways tax filing may look different in 2022, and what you can do to prepare.

The Expanded Child Tax Credit

Fed Gives Clear Signal About Interest Rates

The Power of the Consumer

Tax Changes: What’s In, What’s Out?

Your Year-End Financial Checklist

The end of the year can help remind us of last-minute things we need to address and the goals we want to pursue. To that end, here are some aspects of your financial life to think about as this year leads into the next. Keep in mind,...

401(k) Millionaires

Your workplace retirement account can play a critical role in your overall retirement strategy. However, some have gone further with the accounts than others, especially recently. CNBC reported on findings that place 401(k) accounts at...

Proposed Tax Changes in Congress

Investors are watching the Build Back Better Act. This $3.5 trillion bill, refined through months-long negotiations, may be approaching a final vote in the House of Representatives. If the BBA becomes law, it would finance large-scale...

The Social Security Administration Announces 2022 COLA

On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the largest increase in four decades. This...

Navigating Your Required Minimum Distribution

As much as you would like to, you can’t keep your money in your retirement account forever. These investment vehicles include 401(k)s, IRAs, and similar retirement accounts.1 Under the SECURE Act, once you reach age 72, you must...

September is National Life Insurance Awareness Month

It’s time for your life insurance checkup. September is National Life Insurance Awareness Month, so it’s a great time to review your coverage.1 If you don’t have any life insurance, you’re not alone. Life...

A Roaring Start to Earnings Season

Corporate earnings season has begun, and the results are turning heads on Wall Street. Of the 120 companies in the S&P 500 index that reported numbers as of Friday, July 23, 89% of them beat the Street’s earnings-per-share...

Tax & Estate Strategies for Married LGBTQ+ Couples

The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or are considering updating your estate strategy, here are some...

Condon Sullivan Wealth Management & Planning Welcomes Brian Callery

I am pleased to tell you about the newest member of the Condon Sullivan family — Brian Callery, Senior Financial Advisor. For the last several years, Brian, myself, and our team have been collaborating on account management and...

Insurance When You Marry After 40

When you marry, you buy life insurance. Right? You buy it out of consideration for your spouse, and also realize that in the event of either your untimely death or your spouse’s untimely death, your household could be left with...

A COLA with Your Social Security?

If there is a "silver lining" to all the inflation talk, it may be that Social Security benefits are expected to see a larger-than-normal increase in 2022. Preliminary estimates call for a 4.7% cost-of-living increase (COLA) in Social...

Are You Ready for the Second Act of the S.E.C.U.R.E. Act?

Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the bill moves from the House of Representatives to the Senate, many...

The Emergence of ESG Investing

ESG: what does that acronym stand for? Those three letters stand for "Environmental, Social, and Governance" and signify an investment that has particular merit to investors of all ages. A recent Morgan Stanley Bank survey found that...

Why Roth IRA Conversions May Now Be Advantageous

Roth IRAs have attracted retirement savers since their introduction in 1998. They offer the potential for tax-free retirement income, provided Internal Revenue Service rules are followed. Do Roth IRAs seem even more attractive these...

The New Inherited I.R.A. Rules

New inherited I.R.A. rules took effect on January 1, 2020. The Setting Every Community Up for Retirement Enhancement (SECURE) Act became law on that day, altering the regulations on inherited Individual Retirement Account (I.R.A.)...

Congratulations On Passing The Series 7 Exam, Kate Cunningham!

Kate Cunningham is the newest member of the Condon Sullivan team and joins us with over 25 years of experience in the financial services field. To learn more about Kate, click here. We are pleased to announce that Kate Cunningham...

Guarding Against Identity Theft

America is enduring a data breach problem. As many workers traded in the office for remote work, data security has been a focus for the public and private sectors. Between robocalls pitching low-cost health insurance, pretending to be...

Volatility Tests Your Mettle

Most people understand that stock prices don't go straight up. But when market volatility increases, the price action can test the mettle of even the most seasoned investor. In recent weeks, stock prices have trended lower with a few...

Navigating Your Required Minimum Distribution

As much as you would like to, you can’t keep your money in your retirement account forever. These investment vehicles include 401(k)s, IRAs, and similar retirement accounts.1 Under the SECURE Act, once you reach age 72, you must...

Condon Sullivan Leadership Recognized as Top Financial Professionals in the U.S. by HTK

Matthew J. Condon, CFP® and Thomas J. Sullivan, CFP® Recognized as Top Financial Professional in the U.S. by HTK Condon Sullivan Wealth Management & Planning, a Massachusetts based financial services firm, is pleased to...

How to Prepare for Tax Season

In this guide, we’ll explore ways to help you prepare for the upcoming tax season. Keep in mind, this guide is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal...

It's Not Too Late to Fund Your IRA

If you’re like many investors, you’re probably looking for a way to manage your tax bill. One approach to consider is contributing the full amount to your retirement accounts. It’s not too late to fund your retirement...

5 Highlights of the New Stimulus Package

After a bit of political posturing in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump as the COVID-19 pandemic continues to impact employers and employees....

2020 IRA Deadlines Are Approaching

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual...

Financial Wellness Month

January is Financial Wellness Month, a time to remind people to make arrangements for their financial strategy.1 For a financial professional, it’s time to connect with new clients and discuss their financial situation and...

Speed Bumps & Headlines

As an investor, it can be tempting to get caught up in daily news headlines. Consider how news about the election and COVID-19 vaccines have moved the markets over the past several weeks. But having a financial strategy can help you...

Your Year-End Financial Checklist

The end of the year can help remind us of last-minute things we need to address and the goals we want to accomplish. To that end, here are some aspects of your financial life to think about as this year leads into the next. Keep in...

Congratulations On Passing The CFP® Exam, Kyle Anderson

Being a CERTIFIED FINANCIAL PLANNER TM is largely considered the highest standard in financial planning. The CFP® exam requires 12+ months of preparation and has an esteemed set of prerequisites and requirements. Kyle Anderson...

Managing Money as a Couple

When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult. At some point, you will have...

End-of-the-Year Money Moves

What has changed for you in 2020? For many, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another step. Did you start a...

When the Fed Talks Inflation, Bond Investors Listen

Most recently, you may have read that Federal Reserve Chair Jerome Powell announced a change in how the Fed views inflation. In the past, the Fed said it would consider adjusting short-term rates when inflation approached 2 percent....

Before You Claim Social Security

Determining when to take Social Security benefits is a complicated financial decision. Here are a few things to think about and discuss with your financial professional. How long do you think you will live? If you have a family history...

What Are Stock Splits?

Two high-profile companies—Apple and Tesla—have announced stock splits in the past few weeks, which makes it a great time to discuss what’s involved when a company announces a stock split. Remember, any companies...

Keep Your Life Insurance When You Retire

Do you need a life insurance policy in retirement? One school of thought says no. The kids are grown, and the need to financially insulate the household against the loss of a breadwinner has passed. If you are thinking about dropping...

What Makes 2020 A Unique Year For Retirement?

Q: What makes 2020 a unique year for retirement? A: Big changes to retirement account rules. You can attribute those changes to two major pieces of legislation: the Setting Every Community Up for Retirement Enhancement (SECURE) Act,...

Farewell Connor!

We regretfully announce that Connor Reagan will be leaving Condon Sullivan Wealth Management & Planning effective July 1, 2020. Connor began his career at our firm in 2015 as an intern. Upon his college graduation, he joined us...

Details on the Tax Deadline Extension

The Internal Revenue Service knows that many taxpayers have had a stressful spring. So, it has reset the federal tax deadline. You now have until July 15 to file your 1040 form. July 15 is also the deadline to pay any federal taxes...

Market Behavior and the Economy

As states cautiously begin the process of relaxing their COVID-19 restrictions, some are wondering, “Why is the stock market doing so well when the economy is doing so poorly?” It’s a great question, and fortunately,...

Roth IRA Conversion in the Era of COVID-19

The COVID-19 pandemic has shaken up nearly every aspect of American life. To say it’s been a difficult time would be an understatement. However, difficult times may open doors to new possibilities. Businesses are changing their...

A Stock Market Lesson to Remember

Undeniably, spring 2020 has tried the patience of investors. An 11-year bull market ended. Key economic indicators went haywire. Household confidence was shaken. The Standard & Poor’s 500, the equity benchmark often used as...

Virtual Activities & More

At the time of this writing, we're in midst of the COVID-19 pandemic. Everyone around the country is practicing "social distancing" and staying home (albeit much more than they're used to). Here at Condon Sullivan Wealth Management &...

Pullbacks, Corrections, and Bear Markets

The COVID-19 outbreak has put tremendous pressure on stock prices, prompting some investors to blindly and indiscriminately sell positions at a time when the entire market is trending lower. Worried investors believe "this time it's...

Key Provisions of the CARES Act

Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing...

Rules Tighten on Stretch IRAs

Washington was busy this holiday season. As many of us were looking forward to some well-earned time off, new legislation was passed, and it affects some of the old rules for traditional Individual Retirement Accounts. These changes...

Condon Sullivan Wealth's Commentary on the Market and Coronavirus...

Back in the 4th quarter of 2018, investor fears caused the equity markets to sell off by nearly 20%. It was not any single issue, but rather the confluence of numerous uncertainties – trade tariffs, interest rate concerns,...

Tax Efficiency

The after-tax return vs. the pretax return. Everyone wants their investments to perform well. But for many investors it’s their after-tax return that may make all the difference. After all, even if your portfolio is earning...

Lesser Known Provisions of the SECURE Act

The SECURE Act passed into law in late 2019 and changed several aspects of retirement investing. These modifications included modifying the ability to stretch an Individual Retirement Account (IRA) and changing the age when IRA holders...

Insurance Needs when Married with Children

A growing family, by definition, means growing financial obligations – both in the present and in the future. Raising children can increase your insurance needs and heightens the urgency for being properly prepared. Auto. When a...

Is Your Company’s 401(k) Plan as Good as It Could Be?

How often do retirement plan sponsors check up on 401(k)s? Some small businesses may not be prepared to benchmark processes and continuously look for and reject unacceptable investments. Do you have high-quality investment choices in...

Cybersecurity: Protecting Yourself From Potential Calamities

Cybercrime affects both large corporations and private individuals. You’ve likely read about the large data breaches in the business world. These crimes are both expensive and on the rise. The U.S. Identity Theft Resource Center...

Your Year-End Financial Checklist

The end of the year can help remind us of last-minute things we need to address and long-term goals we want to accomplish. To that end, here are six aspects of your financial life to think about as this year leads into the next. Keep...

Congratulations On Passing The Series 7 Exam, Casey Giordano!

Casey Giordano was an intern here at Condon Sullivan, while she was attending the Manning School of Business at UMass Lowell. Upon her college graduation in 2018, she joined our firm full-time. She’s been a great asset for our...

Estate Planning After a Second Marriage

Marrying again makes estate planning more involved. How do you provide for everyone you love? Should you provide for everyone you love? How do you arrange to transfer wealth in a way that won’t hurt the feelings of certain heirs?...

Avoiding Large Losses in Your Portfolio

Risk is a factor in any investment decision that you make. Your tolerance for risk is something that you will want to consider when you make decisions alongside your trusted financial professional. Your risk tolerance is balanced...

Retirement and Adult Children

Families are one of the great joys in life, and part of the love you show to your family is making sure that their basic needs are met. While that’s only to be expected from birth through the high school years, many households...

An Estate Strategy for Your Digital Assets

When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as well. Your digital assets should not...

Smart Financial Moves in Your 20s, 30s, 40s, & 50s

Have you ever mapped out your financial timeline? If you’re like many Americans, it may have been more difficult than anticipated. One of the most helpful ways to achieve your financial goals is to break it down by your age....

Will You Avoid These Estate Planning Mistakes?

Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some...

Congratulations On Passing The CFP® Exam, Zuly Feliz!

Being a CERTIFIED FINANCIAL PLANNER TM is largely considered the highest standard in financial planning. The CFP® exam requires 12+ months of preparation and has an esteemed set of prerequisites and requirements. Zuly Feliz joined...

The SECURE Act and Traditional IRA Changes

If you follow national news, you may have heard of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Although the SECURE Act has yet to clear the Senate, it saw broad, bipartisan support in the House of...

Diversification, Patience, and Consistency

Regardless of how the markets may perform, consider making the following part of your investment philosophy: Diversification. The saying “don’t put all your eggs in one basket” has real value when it comes to...

Coping with an Inheritance

Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have...

Why Does Family Wealth Fade Away?

Many are the stories of family wealth lost. In the late 19th century, industrial tycoon Cornelius Vanderbilt amassed the equivalent of $100 billion in today’s dollars – but when 120 of his descendants met at a family...

Matthew Condon Seen in Forbes Magazine (June 2019)

Congratulations to our own Matthew Condon — a 2019 Five Star Award Winner seen in Forbes Magazine! View the feature by clicking here.

Do Your Investments Match Your Risk Tolerance?

From time to time, it is a good idea to review how your portfolio assets are allocated – how they are divided among asset classes. At the inception of your investment strategy, your target asset allocations reflect your tolerance...

Pension Plans & De-risking

A new term has made its way into today’s financial jargon: de-risking. Anyone with assets in an old-school pension plan should know what it signifies. De-risking is when a large employer hands over its established pension...

The Sequence of Returns

What exactly is the “sequence of returns”? The phrase simply describes the yearly variation in an investment portfolio’s rate of return. Across 20 or 30 years of saving and investing for the future, what kind of...

Guarding Against Identity Theft

America is enduring a data breach epidemic. The latest annual study of the problem from Javelin Strategy & Research, a leading financial analytics research firm, says that 16.7 million people across the nation were impacted by I.D....

Matthew J. Condon Named 2019 Five Star Professional

Matthew J. Condon, CFP® has been selected as one of Boston's Five Star Wealth Managers. The Five Star Wealth Manager award program is the largest and most widely published wealth manager award program in the financial services...

Best Buddies Friendship Walk (2018)

Condon Sullivan Wealth Management & Planning is proud to sponsor the Best Buddies Friendship Walk in Boston on November 3, 2018. Join us walking that day or create your own team to support this worthwhile mission. Best Buddies...

Condon Sullivan Wealth Management & Planning Welcomes James P. Turner, CLU, ChFC

We are delighted to have James P. Turner, CLU, ChFC join Condon Sullivan Wealth Management & Planning as a financial advisor. He brings with him an impressive history — 40 years of success — and a wealth of knowledge in the...