Official Newspaper of Eddy County since 1883

Articles written by Devin Melvie

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  • Which IRA is right for me?

    Devin Melvie|Jul 22, 2024

    Individual Retirement Accounts (IRAs) are recognized as one of the most attractive retirement savings vehicles available to investors. IRAs allow investors to save and grow money in a tax-advantaged account. Utilizing a retirement savings vehicle like this can greatly enhance your long-term financial prosperity, but deciding which type of IRA is right for your investment goals can be a challenge. Here are answers to common questions around this important topic. 1. What types of IRAs should I consider? At its most basic level, there are two t...

  • How to protect yourself from financial fraud

    Devin Melvie|Jul 1, 2024

    In 2023, Americans reported they were the victims of more nearly $10 billion in financial fraud.1 With fraud increasing in frequency and intricacy, investors must stay vigilant about protecting their financial security. Here are six steps you can take to help protect yourself: 1. Actively avoid scams. The best advice for bypassing fraud involves a series of don’ts. Don’t pick up calls or respond to texts from numbers you don’t recognize. If your bank leaves a message, return the call only after double-checking you have the correct number for y...

  • Strategies to protect your goals from consistent inflation

    Devin Melvie|May 27, 2024

    If you’re like most investors, you’ve noticed the impact of higher inflation in recent years – whether at the gas pump or the grocery store. American investors are experiencing the effects of prolonged inflation for the first time since the early 1980s. As a result, many are concerned about how inflation levels will impact their ability to reach their long-term financial goals. While it may not be possible to avoid the effects of inflation altogether, there are several strategies investors can utilize to mitigate the impact of inflation on thei...

  • Why work with a financial advisor? Perspective from one.

    Devin Melvie|Apr 22, 2024

    One of the top questions I receive as a financial advisor is, “What exactly do you do and how can you help someone like me?” If you’ve ever wondered the same thing, you’re not alone. The answer I give when I meet new people is this: Financial advisors are committed to helping individuals and families set and reach their financial goals. Advisors provide value beyond investment strategies and financial advice; they are there to help clients feel more financially confident for the expected and unexpected moments of life. Here are some specifi...

  • You can save more for retirement in 2024

    Devin Melvie|Mar 25, 2024

    As an investor, one way you can enhance your long-term retirement security is to fully leverage the potential of tax-advantaged retirement savings vehicles. Each year, the IRS releases new guidelines on the amount of money you can contribute to these accounts. New contribution limits in 2024 allow you to save even more this year through plans such as 401(k)s, 403(b)s and IRAs. Changes to workplace savings limits Contribution limits for workplace retirement accounts have been raised by $500 for the year 2024. In 2024, the IRS allows pre-tax...

  • Put your year-end bonus to work

    Devin Melvie|Feb 26, 2024

    For many Americans, the start of a New Year is the time they find out if they received a year-end bonus. If you are anticipating one, take some time to think about how you want to use this hard-earned money. Consider the ideas below before the money hits your bank account. Supplement your investment contributions. Consider applying your bonus to an employer-sponsored 401(k), up to the maximum allowable amount. Take advantage of your employer match, if applicable. Alternately, since it’s also wise to diversify your investment dollars, you could...

  • How a Trust Could Help You Efficiently Transfer Wealth to Your Heirs

    Devin Melvie, Financial Advisor, Legacy Financial Partners|Oct 23, 2023

    Talking with clients about the legacy they wish to leave behind is an essential part of my job as a financial advisor. How do they want to share their wealth with loved ones and charities that matter to them? What values do they want to pass down and what financial goals do they want to support for their children and grandchildren? How can they transfer their assets in a tax-efficient and planful manner? These are some of the many questions we cover in the course of these conversations. If you find yourself asking similar questions about your...

  • Understanding Wills and Trusts

    Devin Melvie, Financial Advisor, Legacy Financial Partners|Dec 19, 2022

    Everyone has heard the terms “will” and “trust,” but not everyone knows the differences between the two. Wills and trusts are important tools of estate planning. Each has strengths and limitations. Here’s what to know as you determine what’s best for you and your estate plan.  A will is a legal document that helps ensure your assets are distributed according to your wishes. A will can accomplish four things, to occur upon death:  1. Assign someone to oversee your estate.  2. Name the personal guardian who will care for your minor children a...

  • Worried About the Stock Market? Here's How to Reduce Your Investment Risk

    Devin Melvie, Financial Advisor, Legacy Financial Partners|Sep 26, 2022

     During times of market volatility like we've seen since the start of 2022, it's natural to feel a bit skittish about the stock market. It's a potent reminder that there are risks to stock ownership. Individual stocks are not guaranteed to grow and may lose value. The good news is that the stock market has historically delivered a higher rate of return than other forms of investment in the same timeframe. With this in mind, there are strategies you can deploy to help insulate your portfolio f...