By Scott Hamilton Do you ever feel like your bank account balance is on a wild roller coaster ride? You’re not alone. Commission-based salespeople, independent contractors, freelancers, and many others whose income isn’t consistent experience unique challenges in balancing their budgets and managing their taxes. At Hamilton Financial Planning, many of our clients are self-employed […] The post Managing Your Budget and Taxes With a Fluctuating Income appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton, CFP® Most people tend to not think too far into the future. But when it comes to how you will allocate your assets and other precious resources, it’s vital to have a plan. If you haven’t done this yet, or haven’t updated your estate plan in a while, you’re not alone. In […] The post The Importance of Estate Planning appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton, CFP® At Hamilton Financial Planning, LLC, we prioritize community engagement and value a spirit of generosity. If you can relate, you’re aligned with our clients who share similar values. You understand that life extends beyond your immediate circle, and you’re committed to leaving a positive impact, contributing to the greater good whenever […] The post Why You Should Consider Sending Your RMDs Straight to a Charity appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton The Pledged Asset Line (PAL) at Charles Schwab Bank is a valuable tool for investors who want a flexible and potentially cost-effective borrowing solution. I often recommend it to my clients here at Hamilton Financial Planning. In response to many of their questions, I put together a summary of everything you need […] The post What Is the Charles Schwab Bank Pledged Asset Line? appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton There are so many factors that go into retirement planning, but maxing out your 401(k) contributions is often seen as one of the most important things you can do. While automatic contributions are easy to set up and can be an absolute game changer in your financial routine, maxing out your 401(k) […] The post Is Maxing Out Your 401(k) Always the Optimal Choice? appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton Are you concerned about the impact of taxes on your retirement savings? If so, a backdoor Roth IRA might be the solution you’ve been looking for. In this article, we explore the concept of a backdoor Roth IRA and how it can help you grow your wealth tax-free. By understanding the ins […] The post Grow Your Wealth Tax-Free With a Backdoor Roth IRA appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton Life can get overwhelmingly busy. Between family, friends, and work, there’s often little room for managing your finances. Add to that the complexities that can come with financial planning and it increases the probability you may run into pitfalls that can impact your long-term financial health. Let’s explore the 4 biggest mistakes […] The post The Biggest Financial Mistakes I See People Make appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton Beyond its philanthropic appeal, a donor-advised tax fund can wield significant financial benefits by potentially reducing your tax burden. As individuals seek more efficient ways to give back to their communities and causes close to their hearts, it’s crucial to explore how a donor-advised fund may also optimize your tax strategy. Charitable […] The post Could a Donor-Advised Fund Save You Money on Taxes? appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton Life is full of unexpected twists and turns, and one of the most challenging events anyone can face is the loss of a spouse. The emotional toll of widowhood is immense, and amidst the grief, there are numerous financial decisions and responsibilities that need to be addressed. It’s a difficult and sensitive […] The post If Widowhood Happened Tomorrow, Would You Be Prepared? appeared first on Certified Financial Planner - Austin & Houston Texas ..read more

By Scott Hamilton When considering the legacy we want to leave for our children, it’s natural to focus on financial aspects like writing a will and distributing wealth. But a true legacy encompasses more than just money. It involves establishing long-term stability for your loved ones and avoiding a chaotic situation of assets, liabilities, and […] The post What Type of Inheritance Are You Giving Your Children? appeared first on Certified Financial Planner - Austin & Houston Texas ..read more