Hagemann Wealth Management

Kurt Hagemann

What To Consider if You Receive the Monthly Child Tax Credit Payments in 2021

What To Consider if You Receive the Monthly Child Tax Credit Payments in 2021

If you have declared children as dependents when you filed your taxes, you are in for some good news. As part of the federal government’s rescue plan amidst the COVID-19 pandemic, tax credits are being doled out. According to the Internal Revenue Service, child tax credits are meant to benefit lower-income households belonging to certain …

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Wealth Manager vs Financial Advisor What's the Difference

Wealth Manager vs Financial Advisor: What’s the Difference?

Contrary to popular belief, you don’t have to be a millionaire to get professional financial help. However, it pays to know which service will fit your needs. Depending on your situation, you may choose to work with a financial advisor or a wealth manager. While these terms are often used interchangeably, there are distinct differences …

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Hagemann Wealth Talks About What a Wealth Manager is and Why You Might Need One

Hagemann Wealth Talks About What a Wealth Manager is and Why You Might Need One

Wealth management firms in Illinois offer an extensive range of investment strategies including financial assessments, estate planning, retirement planning, and tax advice. In addition to financial advice, they may also provide legal assistance services. This investment strategy caters to clients with high investment readiness and portfolios, which they will use to fund a tailored investment …

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Proposed Bill Includes Tax Increases for High Earners, Retirement Account Changes

Proposed Bill Includes Tax Increases for High Earners, Retirement Account Changes

Earlier in September 2021, Democrats in the House Ways and Means Committee informed the public of a proposed tax plan that would affect corporate and personal taxes, as well as retirement plans. The proposed tax plan is a part of a $3.5 trillion domestic investment plan with many of the changes designed to help pay …

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Types of College Savings Accounts A Guide by Financial Advisors in Illinois

Types of College Savings Accounts: A Guide by Financial Advisors in Illinois

The total college tuition fee in the United States of America can go up to $26,000 for a 4-year program at a public institution. Add the cost of accommodation and other expenses to it, and the number will go up to approximately $37,000. If you’re looking for financial advisors in Illinois to help you out, …

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the importance of diversification in investing

The Importance of Diversification in Investing

Diversification in investing refers to investing across different asset classes, securities, industries, and companies. Financial advisors in Illinois would also sometimes suggest investing in other geographic locations. However, not many investors understand the importance of such economic diversification. In simple terms, it means not putting all your eggs in one basket, but why? Let’s find …

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How much should I contribute to my 401k

How Much Should I Contribute to My 401(K)?

Financial advisors in Illinois constantly face clients asking about the ideal amount to invest in their 401(k). However, there is no one-size-fits-all answer to this question. Although most financial institutions may suggest between 15% and 20% of your income, how much you should contribute to your 401(k) depends on your financial situation. Other factors that …

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The Gender Wage Gap and Its Impact on Women’s Retirement

The Gender Wage Gap and Its Impact on Women’s Retirement

Women have a more difficult time getting into financial planning as compared to men. While there may be many causes to this effect, the one that stood out to us was the wage gap between the two genders. Here’s how income disparity gets in the way of retirement planning for women. The Glaring Difference in …

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