Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache Hey there,Here’s something you don’t hear every day: long-term care costs can sometimes be tax-deductible. No, really! If you’re helping your parents with elder care, assisted living, or medical appointments, there’s a chance Uncle Sam might actually give you a little relief—if you know how to ask. What counts? Memory care In-home caregivers Assisted living (when it’s for medical need) Even mileage to...
20 days ago • 1 min read
Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache You don’t need a Rockefeller-sized yacht to need a trust. A regular ol’ family home will do the trick! If your parents own a house, have property out of state, or want to avoid turning their estate into a courtroom drama, a revocable living trust is a no-brainer. Here’s why: Without a trust or named beneficiary, assets titled solely in your parent’s name go through probate. With a trust? Assets pass...
about 1 month ago • 1 min read
Navigating Your Financial Future Doesn't Have to be a Headache! Hey Reader, Let’s be honest: most families aren’t totally sure if their financial plan is complete. You might have a will... somewhere. You might have 401ks... scattered across 3 firms. And when it comes to taxes, investing, and retirement planning? Let’s just say the phrase “we should really deal with that” comes up a lot. Enter: The Life Audit It’s a short-term, flat-fee planning engagement designed for families who want a...
about 2 months ago • 1 min read
Welcome to the Fun Side of Finance! Navigating Your Financial Future Doesn't Have to be a Headache Hey there, What’s worse than a messy family drama? A messy beneficiary form, because unlike your parents, the IRS’s feelings for you are very conditional. Picture this: that 401(k) from 20 years ago that still lists Dad’s ex-wife as the beneficiary. Guess who gets the money? Yep. The ex. And no, you don’t even get to send the IRS a strongly worded text. It’s automatic. The will won’t save you....
2 months ago • 1 min read
Navigating Your Financial Future Doesn't Have to be a Headache Hey Reader, I’m so glad you’re sticking with me on this journey to smarter financial planning! Today I’m pulling back the curtain to give you a glimpse into who I am—and the amazing team at Formula Wealth. Who the Heck is Holmes? You may be asking yourself, who’s the guy behind these emails? That’s me—Chad Holmes! I’m the guy who created Formula Wealth with a specific mission to help families be smart about transferring all levels...
3 months ago • 2 min read
Welcome to the Fun Side of Finance! Navigating Your Financial Future Doesn't Have to be a Headache Let’s talk about you—specifically, how you can avoid the most common and costly estate planning mistakes I see ALL. THE. TIME . Whether you’re planning for your parents, yourself, or both, these missteps can cause unnecessary taxes, confusion, and—let’s be honest—more family drama than a Thanksgiving dinner where Aunt Martha took it upon herself to make cauliflower mash instead of the real deal....
3 months ago • 1 min read
Navigating Your Financial Future Doesn't Have to be a Headache Want a sneak peek of what to expect? Check out my Sassy St. Peter video! --> Hello Reader, Talking about money with family can be… an experience. Somewhere between assembling IKEA furniture and explaining technology to your parents. But here’s the thing—having a solid plan in place now can save you (and them) from a lot of stress later.I’m Chad Holmes, founder of Formula Wealth and author of The Inheritance Playbook: Helping Your...
3 months ago • 1 min read