Secure Act

By The Tranel Financial Group | January 22, 2020
Understanding The SECURE Act With Jordan Bradford, Financial Advisor The SECURE Act, or Setting Every Community Up for Retirement Enhancement Act, was passed into law on December 20, 2019 and took effect on January 1, 2020.   The aim of the SECURE Act was to prevent Americans over 70 years of age from outliving their assets, and to encourage contributions to retirement accounts for individuals, including part-time workers and small-business owners.   Jordan Bradford, Financial Advisor with the Tranel Financial Group, provides a thorough summary of the SECURE Act in the video below: Video Transcription: I just wanted to share… View Article

A Guide to Holiday Gifts That Give Back and Charitable Donations

By The Tranel Financial Group | November 12, 2019
Charitable Donations Putting a focus on holiday gifts that give back is just one way you and your family can celebrate the spirit of the season this year. Not only are these annual gifts inspiring, but they also make an impact on others and improve the lives of people in need. Many of these gifts come in the form of a financial contribution ranging from $25 – $1,000 and combat issues related to the environment, education, child hunger, animal welfare, homelessness, veterans and other noteworthy causes.  Making a financial contribution and purchasing meaningful gifts that spread goodwill to others is… View Article

Dollars & Sense: 12 Tips to Help College Students Save

By The Tranel Financial Group | October 16, 2019
12 Tips to Help College Students Save You’ve filled out countless admissions forms, submitted numerous letters to your top choices of schools, and now it is the moment of truth: you open the letter from your top choice of school.  Congratulations! You’re on your way to a successful, financially fruitful future. You’re going to college! But then the inevitable panic sinks in – just how are you going to be able to handle all of the extra expenses that go along with this amazing opportunity and keep your finances in check while balancing the rigorous demands of student life that… View Article

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
Millenial retirement planning

Retirement Tips for Millennials

By The Tranel Financial Group | June 24, 2019
Millennial Retirement Planning | It is Never Too Early to Prepare While retirement may seem like a far off dream, it is never too early for millennial retirement planning. It can take decades to prepare for your retirement, and the longer you put it off, the harder it can be to pull together the savings you will need. The money you set aside for retirement undergoes compound growth over time; so, the earlier you save, the more money you will have to work with when the time comes to retire.   Most millennials (53% according to Market Watch) expect their retirement… View Article

Financial Freedom

By The Tranel Financial Group | June 21, 2019
What does financial freedom mean? What does it feel like, and look like? The answer is different for everyone. That’s why we created our Life Enjoyment Experience Process, which helps anyone to achieve their unique vision by achieving financial freedom first. So what are some of the goals our clients have achieved? For some, financial freedom consists of leaving a legacy to their kids, ensuring that their children’s futures are safe and secure. Some use their financial freedom to travel the world, from Tokyo to New Zealand to Dubai to Paris to London (and more!) Some finally live their dream… View Article

How to Budget After a Divorce

By The Tranel Financial Group | May 30, 2019
If you think it’s hard to work out money differences when you’re married, try being divorced and handling financial decisions. If you’ve never been through a divorce, you can’t possibly understand the time and effort it takes to separate finances along with everything else two people can acquire over years or decades. There are divorce budgeting advisors who can guide you through this unfamiliar financial experience. Once your divorce is final, you will have a new budget and probably a new set of bills to pay each month, so you want to have a plan in place to manage your… View Article