Written material is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary, therefore, the information should be relied upon when coordinated with individual professional advice.
March 15, 2025 Article
Navigating the US tax system can be challenging. How you need to file depends on your income and filing status, as well as which tax deductions and credits you can claim. Your taxes are your responsibility, even if someone assists you in filing them.
February 15, 2025 Article
U.S. Supreme Court Justice Warren Burger is famous for more than just his time on the bench. When he died in 1995, he left a 176-word will that gave no specific power to his executors. As a result, he reportedly cost his estate tens of thousands of dollars in attorney's fees.
January 14, 2025 Article
Whether through inertia or trepidation, investors who put off important investment decisions might consider the admonition offered by motivational speaker Brian Tracy, "Almost any decision is better than no decision at all."
Oct 15, 2024 Article
If you are new to Medicare, there are several questions you should consider while approaching or within your Initial Enrollment Period (IEP) or a Special Enrollment Period (SEP). Use this guide to consider your options when preparing to enroll in Medicare or after you have already enrolled.
Jul 1, 2024 Article
In a recent survey, 73% of current workers stated they plan to work for pay after retiring.
May 16, 2024 Article
Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a first-name basis with the nurse at urgent care. Then, as you’re driving to work, you see smoke coming from under your hood.
April 4, 2024 Article
Whether it’s sports, music, or politics, life holds any number of “great debates”– debates that never seem to reach a conclusion. In investments, that great debate asks the question, “Active or Passive Investing: Which is Better?”
February 5, 2024 Article
A will enables you to specify who you want to inherit your property and other assets. A will also enables you to name a guardian for your minor children. Do you have healthcare documents in place? Healthcare documents spell out your wishes for health care if you become unable to make medical decisions for yourself.
August 15, 2023 Article
The average American owes $59,580 in debt. Of that $59,580, $41,830 is from mortgage debt, $5,640 is from student loans, and $5,470 is from auto loans. Little wonder that money worries can be a major cause of stress.
July 10, 2023 Article
You taught them how to read and how to ride a bike, but have you taught your children how to manage money?
April 6, 2023 Article
Retirement planning is atricky process, one that requires careful planning and patience. But even if you have a retirement plan with a clear set of financial and lifestyle goals, it’s important to be aware of several common missteps that many fall victim to.
January 9, 2023 Article
Fewer things are more reliable than Tax Day, even if the deadline has shifted around a bit in recent years. This year, it’s April 18th for most taxpayers, and recent legislation changes include substantial increases to standard deduction amounts and modifications to itemized deductions. Also, if you’ve reached age 72, you generally must start taking withdrawals from your qualified retirement plan. Your Required Minimum Distribution (RMD) will be reported as taxable income except for any part that was taxed before (your basis) or that can be received tax-free (such as qualified distributions from designated Roth accounts) so be sure to include that information on your return, if applicable.
November 4, 2022 Article
Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. Any changes to your plan will go into effect on January 1, 2023.
October 4, 2022 Article
Making New Year’s resolutions has become almost cliché, because, let’s face it, most of us find it difficult to stay focused on these resolutions through the end of January. Financial goals can be especially difficult to stick with because our spending, saving and investing habits tend to be tied to our emotions more than our logic. Here are 5 Tips for Keeping Your Financial Resolutions:
July 6, 2022 Article
Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the last.When you are older, “and-a-half” birthdays start making a comeback.
July 4, 2022 Article
Every year, about 150 million households file their federal tax returns. For many, the process involves digging through shoe boxes or manila folders full of receipts; gathering mortgage, retirement, and investment account statements; and relying on computer software to take advantage of every tax break the code permits.
January 7, 2022 Article
When I get into conversations with people who are thinking about investing but haven’t quite made the commitment, I find that the most common reason they give for waiting is that they don’t have the money to get started.
November 18, 2021 Article
As the seasons change and we’re into the fall and winter months, it might seem odd to think about next year’s taxes, but now is a good time to review your financial situation before the books close on the year and take steps to try to avoid a large tax burden. It’s also a good time to consider possible year-end gifting strategies.
July 6, 2021 Article
How a 401(k) plan (which may be employer-matched), could help you prepare for a comfortable retirement.There can be a lot of confusing numbers floating around when you try to invest: 529s, 401(k)s and 403(b)s. But your goal to retire in comfort is probably very clear. General George S. Patton once said, “I always believe in being prepared,” and while he may not have been talking about retirement specifically, his objective transfers well.
April 13, 2021 Article
College costs can be more than a little painful, but with the proper financial planning, you could be whistling your child’s college fight song all the way to the bank.Although federal and state financial aid for college students have decreased, published in-state tuition costs and fees at public four-year institutions increased 2.2 percent per year beyond inflation over the last 10 years, according to the College Board, a nonprofit representing colleges and universities.
March 23, 2021 Article
Michael Mullis, managing partner and wealth manager for Kelley & Mullis Wealth Management, was recognized as one of Barron’s 2021 ‘America’s Top 1,200 Financial Advisors’ for the seventh consecutive year and ranked one placement up from 2020’s ranking to number 7 among the ‘Top 10 Financial Advisors in Alabama.’
Jan. 7, 2021 Article
As the first wave of the baby boomer generation begins to enter retirement, the focus on a comprehensive retirement plan has never been more prevalent. Most financial professionals agree that a comprehensive retirement plan should include some sort of employer-sponsored retirement plan, such as a pension plan or a 401(k). But it should also include your own personal savings plan, such as an Individual Retirement Account (IRA).
Nov. 1, 2020 Article
Before you can choose a successor, you need to know what your business needs to succeed after your departure.Entrepreneurs often spend so much time building their business, they give little thought to how they’ll leave it and often get blindsided by the amount of time it takes to create and execute an effective succession plan.
Jul. 1, 2020 Article
Many pre-retirees are concerned that their nest eggs won’t be large enough to maintain a comfortable retirement. A recent study by the Transamerica Center for Retirement Studies reported 48 percent of workers surveyed listed outliving their money as one of their top fears about retirement, while 40 percent answered not meeting the basic financial needs of their family during retirement as their biggest concern.
Apr. 2, 2020 Article
People generally expect financial professionals to focus on the fiscal side of their clients’ retirement plans. Without a doubt, ensuring clients have adequate savings to continue living comfortably is extremely important, and advisors do their best to help clients attain this security. But a deeper knowledge and understanding of the people they serve can help them provide an even higher level of service.
January 1, 2020 Article
Too many choices can be as frustrating as too few. A financial professional can help you find the right retirement plan for your small business.
Oct. 1, 2019 Article
Are you sacrificing your retirement for today’s lifestyle? If you are living paycheck to paycheck or if you are putting yourself further into debt to live a lifestyle beyond your means, your retirement may be at risk.
Jul. 1, 2019 Article
Most comprehensive retirement plans include some sort of employer-sponsored retirement plan such as a pension plan or a 401(k), especially if you can get an employee match. But your retirement strategy should also include your own personal savings plan such as an Individual Retirement Account (IRA). While you may feel retirement is still decades away for you, you should be saving for the inevitable today by using tax-advantaged accounts.
Apr. 24, 2019 Article
Are you faced with the dilemma of having to save for your own retirement while at the same time trying to raise your growing children and put money aside to fund their college educations, and support your aging parents?
Mar. 20, 2019 Article
Birmingham, Ala. – Michael Mullis, managing partner and wealth manager for Kelley & Mullis Wealth Management, was recognized as one of Barron’s 2019 “America’s Top 1,200 Financial Advisors“ and ranked among the Top 10 financial advisors in Alabama.
Jan. 2, 2019 Article
A trust may be one of the best options for ensuring your memory lives on. Here are two that may be right for you. Discussing death is never a pleasant aspect of financial planning, but it’s certainly one of the most important. While no one likes...
Dec. 3, 2018 Article
As the seasons change and we’re into the fall and winter months, it might seem odd to think about next year’s taxes, but now is a good time to review your financial situation before the books close on the year and take steps to try to avoid a large...
Nov. 1, 2018 Article
Too much complacency in the market has finally taken its toll, as U.S. stocks sold off sharply during October on investor concerns over rising interest rates and the growing trade wars that have started to take a toll on corporations.
Oct. 1, 2018 Article
Younger generations have the majority of their lives ahead of them, but there is also a lot still holding them back. Between student loans, car loans, and credit cards, this generation has plenty to pay back before they can move forwar
Aug. 1, 2018 Article
Just because your child is about to enter college doesn’t mean you’ve run out of time to save money. It’s a common myth that if your child is about to head to college or is already in college, you’ve reached a point when the only thing left to do...
Jul. 11, 2018 Article
The middle of each calendar year marks an excellent time to review the health of your current financial plan. Life events, taxes, and market conditions can all dramatically affect your financial security.
Jun. 1, 2018 Article
Saving for the future doesn’t just mean saving for retirement. It may mean saving for your children’s education or saving for children in general. It may also mean savings for a vacation or upcoming major purchases ranging in price from a new home to a new TV. And perhaps most important, it means savings for the unexpected. While you may not be ready to think about retirement just yet, you should be doing more than just thinking about saving for the future.
May. 1, 2018 Article
Budgeting requires determining all of your expenses and that includes much more than just your monthly bills. To be financially smart, it is best to start with a budget as it is an effective way in helping you save and spend wisely. Start your budget planning process as soon as possible, but know it will likely take at least six months to a year of tracking all of your expenses before you’ll have a clear understanding of where all your money goes.
Apr. 3, 2018 Article
I usually encourage people to wait until age 70 before taking Social Security retirement benefits. By waiting, you get the maximum payout. Your monthly check will be at least 76 percent higher than if you started as soon as you qualified, at age 62. If you’re married and die first, waiting will also provide your spouse with a larger survivor’s benefit.
Mar. 1, 2018 Article
It’s tax season! Every year, around this time, the Internal Revenue Service (IRS) publishes its dirty dozen – a list of scams criminals use to try and ferret out personal information and/or steal money. For example, if you received an email from a top executive in your company or organization requesting data from IRS form W2 for the tax year, what would you do?
Feb. 6, 2018 Article
Not so long ago, the phrase “socially responsible investing” might have brought to mind environmentalists keeping their investment dollars out of companies they believed to be damaging the earth or animal rights activists rejecting companies who tested their products on harmless creatures.
Jan. 29, 2018 Article
Having a long-term financial plan gives your logic a leg up over your emotions during times of market volatility.
Jan. 29, 2018 Article
There is a simple and unsettling reality in the United States. Most Americans are not financially prepared for retirement.
Jan. 4, 2018 Article
Dec. 12, 2017 Article
With the New Year approaching, take time to make a list of your financial resolutions. Financial resolutions can be especially difficult to stick with because, like eating and exercising, our spending, saving and investing habits tend to be tied to our emotions more than our logic. Here are five tips for keeping your financial resolutions:
Dec. 1, 2017 Article
An important part of establishing an IRA, 401(k), 403(b) or other qualified plan is naming a beneficiary. On the positive side, this helps ensure that upon your death, any remaining account balance will transfer directly to your heirs without going through probate. On the negative side, your heirs could lose up to 80 percent of the account’s balance to income and estate taxes, both federal and state.
Nov. 3, 2017 Article
For many successful entrepreneurs, it can be difficult to tell where their business ends and their personal lives begin. These driven professionals spend almost every waking moment (and sometimes even sleeping ones) thinking about the how to take advantage of opportunities for growth or, conversely, how to overcome obstacles that may keep their companies from running smoothly. Entrepreneurs often come to feel that, as long as they stay focused on the business, many other issues – both personal and professional – will work themselves out.
Oct. 2, 2017 Article
Back in May, an angry constituent asked Congressman Raul Labrador, an Idaho Republican, why he had voted for the House health care bill, which the constituent claimed would cause people to die for lack of Medicaid funding. The Freedom Caucus member shot back with a now infamous retort: “Nobody dies because they don’t have access to health care.”
Sep. 5, 2017 Article
Aug. 1, 2017 Article
Jul. 5, 2017 Article
Do you feel overwhelmed thinking about retirement planning? It's one of the most common topics we're asked about. One way to make it more manageable is to break it down into a series of decisions:
Jun. 1, 2017 Article
We wholeheartedly agree with the saying, “Travel is the only thing you buy which makes you richer”. However, bank accounts generally don’t. While we’d all love to spend our holidays in a luxurious coma, we find ourselves compromising on little things which our personal bottom line will be grateful for.
May. 2, 2017 Article
A recent survey by GOBankingRates cited creating and sticking to a budget as one of the top financial New Year’s resolutions for 2017. Yet as I talk to people, many have abandoned their budget. When I recently asked a friend why she ditched her budget, she told me that she just was not good at budgeting. I told her that maybe it was not that she was bad at budgeting, but she was using the wrong methods to budget. Intrigued, she asked for more details and I went into the top 7 reasons why I feel budgets fail:
Apr. 3, 2017 Article
Tens of millions of Americans rely on their Social Security benefits, and many are in a position in which they can't really afford to lose their monthly checks. Yet there are a few situations in which the Social Security Administration can and will take away benefits for certain recipients. Below, we'll go through the situations where you risk losing your Social Security benefits so that you won't get surprised down the road.
Mar. 6, 2017 Article
It’s almost tax time. During April, many people take advantage of the opportunity to reduce taxes by funding a Traditional IRA. While that makes sense for some Americans, others may benefit by contributing to a Roth IRA that offers no immediate tax break, but has other tax advantages, such as tax-free growth potential and tax-free income during retirement. Some people may realize the greatest benefit by having both types of IRAs.
Feb. 6, 2017 Article
HSAs have the potential to fill gaps in insurance coverage during retirement or employment changes.
Jan. 4, 2017 Article
Being prepared for major life and death decisions requires thoughtful, thorough planning. When it comes to your estate, this involves an all-encompassing look at the decisions to be made, who makes them and how assets are divided. To get your estate in order, you will need to prepare four major documents.
Dec. 1, 2016 Article
With the start of the fourth quarter, it’s a good time to make sure we are executing on our 2016 financial strategies before year-end.
Nov. 1, 2016 Article
Retirement planning requires determining your retirement expenses, and that starts well before you retire.
Oct. 3, 2016 Article
If you and your family depend on income from your small business, you need to ensure that cash flow in the event your work flow falters.
Sep. 2, 2016 Article
A great transfer in wealth from aging baby boomers to younger generations is under way, and it is reshaping the wealth management industry in ways that demand greater efficiency and adaptation by incumbent firms.
Aug. 1, 2016 Article
Jul. 1, 2016 Article
It’s conventional wisdom by now that Americans aren’t saving enough for retirement. Recent studies have shown that many Baby Boomers might have to live on a mere $7,000 to $9,000 a year during their golden years, based on their current savings (not including Social Security).
Jun. 1, 2016 Article
If you’re not a technology wonk, you may not realize the Internet and the Worldwide Web are actually two different things. The Internet is a global system of interconnected computer networks.
May. 2, 2016 Article
Like it or not, we’re all involved in running the “family business.” We worry that our parents might outlive their retirement savings.
Apr. 1, 2016 Article
The book The Financially Intelligent Parent: 8 Steps to Raising Successful, Generous, Responsible Children, by Eileen and Jon Gallo, focuses on the idea that the way in which parents spend money sends messages to their children about their values and priorities.
Mar. 1, 2016 Article
Forty years ago, the Stanford marshmallow experiment explored self-control by offering preschoolers a choice: Take a marshmallow immediately and get only one or wait to take a marshmallow and get two. Some chose the first option; others the second.
Feb. 1, 2016 Article
Nothing is more satisfying for advisors and their clients than planning, investing, and watching net worth gradually increase. And, nothing is more disheartening than having a significant portion of portfolio value disappear as the result of an unanticipated event.
Jan. 4, 2016 Article
Sir John Templeton, creator of the Templeton Growth Ltd. fund, was a pioneer in both investments and philanthropy. In the 1950s, he provided advice on how to invest worldwide when Americans rarely considered foreign investments.
Dec. 1, 2015 Article
Although the year is almost over, you still have time to take steps that can lower your 2015 taxes. Now is a good time to prepare for the upcoming tax filing season. Taking these steps can help you save time and tax dollars. They can also help you save for retirement. Here are three year-end tips from the IRS for you to consider:
Nov. 2, 2015 Article
As you likely are aware, identity theft is a growing problem that’s affecting more and more people every day.
Oct. 5, 2015 Article
As the seasons change and we’re into the fall and winter months, it might seem odd to think about next year’s taxes.
Sep. 29, 2015 Article
We are pleased to send you a copy of an article recently published by Forbes featuring Michael Mullis’ expert insight of ‘How to Invest Your Money in Q4’. We, along with 9...
Sep. 2, 2015 Article
On August 30, 2015, Ben Stein from the CBS program talked about the recent happenings in the stock market. He discussed that those who blame China for the U.S. stock market's recent declin...
Sep. 1, 2015 Article
College costs can be more than a little painful, but with the proper financial planning, you could be whistling your child’s college fight song all the way to the bank.
Jul. 27, 2015 Article
Watching a parent becoming increasingly dependent on others for the normal activities of daily life can be a harsh reality. It can be even harder for the parent to admit needing help.
Jul. 1, 2015 Article
A well-designed plan is necessary for successful investing, but you must also have the discipline to stay on course, rebalance, and tax-manage, as needed.
Jun. 22, 2015 Article
Jun. 1, 2015 Article
The middle of each calendar year marks an excellent time to review the health of your current financial plan.
May. 1, 2015 Article
Most people make sure they have enough money to pay their bills – the mortgage, car, telephone, credit card, and other payments – each month.
Apr. 9, 2015 Article
Apr. 1, 2015 Article
Mar. 2, 2015 Article
So far this year, taxpayers have forwarded to the IRS tens of thousands of emails reflecting identity theft scams that employ phishing – the practice of tricking the recipient into revealing confidential financial information.
Feb. 2, 2015 Article
Change is in the air! The percentage of Americans age 65 and older who use the Internet is growing rapidly. A recent Pew research survey found that over 50% of older Americans are surfing the web, participating in social networking or using e-mail.
Feb. 2, 2015 Article
Jan. 22, 2015 Article
Financial planning isn't just about the numbers; it's about the relationships. Dependable, ethical, purposeful and committed are the cornerstones that drive Kelley & Mullis Wealth Management. Founded over 35 years ago on these principles, their primary focus is on their clients, with a desire to provide personalized service to fit each individual's financial needs. Michael Mullis and his team guide their clients through all aspects of planning for the future while acting as financial gatekeepers formulating strategies to prepare for retirement.
Jan. 22, 2015 Article
Making New Year’s resolutions has become almost cliché, because, let’s face it, most of us find it difficult to stay focused on these resolutions through the end of January.
Dec. 9, 2014 Article
Nov. 1, 2014 Article
As you get together with your spouse, children and parents for the holidays this year, explore the following list of questions to ensure you’re setting good financial examples for your children, as well as ensuring you and your parents have a strategy in place for their retirement years.
Oct. 1, 2014 Article
The “three legged stool” has long been the approach to retirement planning. But most Americans don’t even have a stool, and for some who do, the stool is becoming a bit shaky.
Sep. 1, 2014 Article
Becoming the caregiver for a sick or disabled loved one can be stressful physically, emotionally, mentally – and financially.
Aug. 1, 2014 Article
We know markets will cycle – we just don’t know when. Having professional advice and an investment plan can keep emotions in check when panic and confusion threaten.
Jul. 1, 2014 Article
Master Limited Partnerships (MLPs), where an investor is a partner rather than a shareholder, is similar to a stock in many ways.
Jun. 1, 2014 Article
The Rolling Stones. Their band name alone can conjure up images of rock and roll glory, greatness, and success. But, to mention the "Stones" without mentioning several attempts at retirement would be foolish.
May. 1, 2014 Article
Apr. 1, 2014 Article
The best way to be ready for major life and death decisions is to properly plan ahead. When it comes to your estate, this means an all-encompassing look at the decisions to be made, who makes them, and who gets what.
Dec. 1, 2013 Article
As an “admitted worrier” I have found one of the hardest areas that I continually work on is conquering the “fear” in changing investment allocations.
Jun. 1, 2013 Article
Currently, the U.S. is stimulating our own economy by printing over $85 billion a month and using these dollars to buy back short term US Treasury debt.
Apr. 1, 2013 Article
Wage earners have already seen a reduction in their take home pay, due to the expiration of the ‘payroll tax holiday’, which was with us for 2011 and 2012.
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