Chris Hibbard's LTM E-Newsletter

Christopher R. Hibbard, ChFC^®, CRPC^®, CFS^®

Vice President, Wealth Management

Teachers Investment Services

Located at Teachers Federal Credit Union

5439 Sunrise Highway

Holbrook, NY 11741

Phone: 631-698-7000 Ext. 6020

Email: christopher.hibbard@lpl.com

CRPC conferred by College for Financial Planning.

July/August 2024

S.O.S for Your Family Finances

Protecting yourself and your loved ones is really what having a financial strategy is all about. A haphazard approach to saving and investing can leave you short of your goals, so consider what you can do to improve your chances of success.

Do You Need Life Insurance?

If you’ve just finished college or earned a graduate degree, purchasing life insurance is probably the last thing on your mind. Not everyone needs life insurance when they’re young. But there are times when life insurance makes sense, even though you’re still in your 20s or 30s.*

Retirement in the Twenty-first Century

Picture retirement in the 1950s. Americans typically retired at 65, drew a pension provided by their employer, and received a monthly check from Social Security. The average life expectancy in the U.S. between 1950 and 1960 was 68 to 69 years, so citizens might not have spent many years as a retiree.

The Sandwich Generation

First, the baby boomers were taking care of the Greatest Generation. Now, it’s the Gen X, and even millennials, who are sandwiched between caring for their parents and launching their children into adulthood. Here are reasons why these people feel financially squeezed:

Handling an Inheritance

Millennials who are expecting a substantial inheritance from their baby boomer parents may be in for a surprise. Studies show a significant gap between what millennials expect to inherit and how much their parents plan to leave them.*

What Will They Do with Their Inheritance

The children of baby boomers are set to inherit significant wealth from their parents over the next decades.

How Much Risk Can You Take

Whether your dream is to climb Mount Everest or sail the Caribbean in a pontoon boat, the amount of risk you feel comfortable with is different for everyone. That applies to investment risk, too. But how can you find your comfort level?

Understanding Bond Funds

Investors whose goal is to preserve capital may want to consider investing in bond funds,* which offer diversification while minimizing the risk of losing principal. Funds pay regular interest that can provide investors with a predictable income stream during retirement.

Financial Abuse: A Means of Control

Financial abuse is on the rise. It can affect partners in a romantic relationship or elderly people who are cared for by another adult. By recognizing the signs of abuse, you can take steps to prevent it from happening to you or a loved one.

Mid-year Review Keeps You on Track

Reviewing your business’s financial progress and outlook at the end of the year to make sure you’re on track to reach your goals is a no-brainer. But it’s also a good idea to see where you are at mid-year. That way, you will have time to make adjustments that could be the difference between a mediocre year and a successful one.

Insurance: What Do Business Owners Really Need?

An online survey conducted in December 2023* revealed that 23% of U.S. consumers said they were thinking about starting a new business in 2024. At the top of the list for new — and current — business owner should be insurance protection for their families and their businesses.

Saving on Energy Costs

If energy costs take a significant bite out of your monthly budget, there are steps you can take to lower them. Here are some ideas.

Estimate the Coverage You Need

Have you put off buying life insurance* because you get stuck trying to determine the amount of coverage you need? Focusing on four basic needs will help you estimate the coverage that’s appropriate for you.

ETFs May Have a Place in Your Portfolio

Exchange Traded Funds (ETFs) consist of a “basket” of securities that track an index, sector, commodity, or other assets. They can even be structured to track specific investment strategies. ETFs are marketed on a stock exchange just as individual stocks are.

Kiddie Tax 2024

If your child has investment or other unearned income above a certain threshold, that income may be subject to the kiddie tax.

Satisfaction with Life

According to a 2023 Pew Research Center study, despite having additional family and financial responsibilities, sandwiched individuals are as satisfied or more satisfied with their lives as compared to other adults the same age.

Female Breadwinners: Prioritize Your Estate Strategy

The Center for American Progress found that more than 40% of women are their family’s sole or primary breadwinners. An additional 20% are co-breadwinners, meaning they are responsible for between 25 to 49% of total family earnings.*

Nonqualified Deferred Compensation Plans Explained

Many employers consider nonqualified deferred compensation (NQDC) plans crucial in attracting and retaining top talent, with 58% offering these plans to key employees who can afford to invest more after maxing out their 401(k).

2023 NQDC Survey Report

Here are some of the key findings from the 2023 survey of non-qualified defined contribution (NQDC) plan sponsors.

Bouncing Back From 2023

Nearly 70% of individuals surveyed* earlier this year reported facing stressful financial challenges in 2023. But looking forward, most respondents, and particularly high-net worth individuals, believed their finances will be better in 2024. While there are financial areas that you may think you could have done better with last year, it is not too late to improve on them this year. Here are some items you may feel you want to work on.

CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Christopher Hibbard is a financial advisor with, and securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Teachers Federal Credit Union (TFCU) and Teachers Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Teachers Investment Services, and may also be employees of TFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, TFCU or Teachers Investment Services. Securities and insurance offered through LPL or its affiliates are:

This publication is not intended as legal or tax advice. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsor of this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher and sponsor do not assume liability for financial decisions based on the newsletter’s contents.
The sender and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.