Cory Burnell

Carve your name on hearts, not tombstones. A legacy is etched into the minds of others and the stories they share about you. Shannon L. Alder The desire to leave a legacy may be the height of altruism, for it is a gift to the future; you may never witness the benefits of it nor feel the appreciation of others. Creating your legacy does not happen overnight, and it doesn’t come without a strategy and hard work. Create Your Vision You should have an end in mind before you begin. Start by reflecting on what you value and care most about. Consider your passions and the unique skills you have. Your career and hobbies are good places to start. Be sure to ask your friends and family to weigh in. They may offer insights you don’t see about yourself. Determine Your Legacy Think about the legacy you wish to leave and the impact you want to make. A legacy can come in many colors. It can be financial, institutional, instructional or wish fulfillment, or the passing on of ...

Driving may be a rite of passage for teenagers, but for parents, having a teenage driver can be stressful and expensive. Your child will need auto insurance coverage as soon as he or she receives his or her driver’s license. Here are some important considerations. Determine Whether to Add your Child to your Policy or Purchase a Separate Policy Check with your insurer to see how your premiums are affected. Expect them to rise dramatically, but savings may be found through multiple-car and good-student discounts. If your child is driving an “old beater” that doesn’t require comprehensive or collision coverage, a separate policy, in limited instances, may save you money. Discuss your options with your insurance agent. Consider Your Teen Driver Coverage Choices Most personal auto policies won’t cover a driver transporting goods or services in exchange for a wage. So if your teen is planning on becoming a pizza delivery driver, contact your insurance agent to determine...

“Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the IRS audited 0.5% of all individual tax returns.¹ And being audited does not necessarily imply that the IRS suspects wrongdoing. The IRS says an audit is just a formal review of a tax return to ensure information is being reported according to current tax law and to verify that the information itself is accurate. The IRS selects returns for audit using three main methods.² Random Selection.  Some returns are chosen at random based on the results of a statistical formula. Information Matching.  The IRS compares reports from payers — W2 forms from employers, 1099 forms from banks and brokerages, and others — to the returns filed by taxpayers. Those that don’t match may be examined further. Related Examinations.  Some returns are selected for an audit because they involve issues or transactions with other tax...

The stories of social media fails are legendary—companies using inappropriate humor regarding serious social issues, typographical errors, or pop references that backfire. These examples represent reputational issues that can affect your company’s brand and its sales. The mistakes in social media marketing that make the headlines can obscure other forms of risks presented by social media, namely privacy violations, security breaches, unauthorized use of intellectual property and employment-based claims, among others.¹ Liability Risks of Social Media The risks that social media introduce to your business are generally not new risks, but conventional risks that are delivered in a more modern way. In order to help manage the risks presented by social media use by your business, you should: Create a social media policy for your company. Develop one for employees using social media for their job and another for employees using social media in their personal lives. Don’t creat...

An insurance deductible is the amount you, the insured, pay before any claim is paid by your insurance carrier. Depending upon the type of insurance, a policy may set the amount of deductible, or offer you the ability to select a deductible amount. Deductibles serve a dual purpose: they save the insurance company money (including the administrative cost of processing small claims) and may help keep your premium costs lower. Choosing the Right Deductible Amount Generally speaking, the trade-off between deductible levels and insurance premiums is simple: The higher the deductible, the lower the cost of insurance. Conversely, the lower the deductible, the higher the cost of insurance. Deciding how to make that trade-off is a function of math and your own comfort level with higher out-of-pocket costs if you choose a higher deductible. Only you can decide if saving $65 a year in premiums for a deductible that is $500 rather than $200 is worth it to you.¹ You may find that the re...

Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may sound counter intuitive, but it may be possible to have too much of a good thing. Over time, the performance of different investments can shift a portfolio’s intent — and its risk profile. It’s a phenomenon sometimes referred to as “risk creep,” and it happens when a portfolio has its risk profile shift over time. When deciding how to allocate investments, many start by taking into account their time horizon, risk tolerance, and specific goals. Next, individual investments are selected that pursue the overall objective. If all the investments selected had the same return, that balance — that allocation — would remain steady for a period of time. But if the investments have varying returns, over time, the portfolio may bear little resemblance to its original allocation. How Rebalancing Works Rebalancing is the process of restoring a port...

The fees that investors pay to financial advisors for their advice and services come in two basic forms: transaction fees and ongoing fees. While advisors may differ in what fees they charge, they are required to fully disclose them. Transaction Fees These fees are generally one-time fees assessed at the time a transaction is made. Examples of transaction fees include: Commissions Paid on the purchase and sale of a stock.¹ Mark Ups / Mark Downs Occur when a broker-dealer sells or buys an investor a position that it owns. FINRA guidelines ensure the prices paid by investors are reasonably related to the market for the security.² Sales Loads The sales charge for buying a mutual fund. They may either be front-end (charged when you buy the fund) or back-end (charged when you sell the fund).  Mutual funds are sold only by prospectus. Please consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and othe...