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Illinois Income Taxes, Explained

By The Tranel Financial Group | August 9, 2019
Understanding Illinois Income Tax For those living in Illinois, income taxes are a hard fact of life. And while we all have to pay them, few people actually understand the nuances of how income tax is structured and calculated. With rumors about Governor Pritzker’s proposed progressive income tax plan floating around, now is the perfect time to answer your tax questions, settle some debates and debunk the myths.  In this blog, we will take a deep dive into Illinois’ personal income taxes and explain: Current income tax rates  Who pays income tax How to calculate your individual income tax Current… View Article

Can a Financial Advisor Help?

By The Tranel Financial Group | July 3, 2019
Financial Advisor Help | What is Financial Planning? You never know when your financial circumstances, or the market, are going to change. Financial planning helps offset some of the anxiety and risk that comes with this uncertainty by helping to “futureproof” your funds.  At its core, financial planning is all about proper money management. A good financial plan both defines your monetary goals and lays out a plan of attack with actionable steps to achieve them. Regardless of your specific goals, the overall objective is always to maximize your wealth while minimizing risk.  A typical financial plan follows these steps:… View Article

Why Tranel? Because life is long—and getting longer

By The Tranel Financial Group | June 27, 2019
Good news! Sort of… The good news is that you’re more likely to live to 97 than anyone else in history! Statistics show that, currently, 25% of 65-year-old married couples have at least one spouse who will live to be at least 97 years old. And if you’re younger than 65 and relatively healthy, you probably have an even higher chance of living till 100, since continually improving healthcare has caused the average life expectancy to keep rising for over a century. Our longer lifespans mean that we have more opportunities than ever to explore, discover, travel, achieve our goals,… View Article