Gilbert Wealth Articles

What Can You Really Use Your HSA For? A Deep Dive Into Eligible Expenses

An HSA (Health Savings Account) is a special savings account available to individuals with a high-deductible health plan (HDHP). Contributions are tax-deductible, earnings grow tax-free, and withdrawals are also tax-free when used for qualified medical expenses.This triple-tax benefit makes HSAs a powerful way to save for both current and future healthcare costs—especially in retirement. To learn more about the benefits of HSA's, see my article A Healthy Investment: Discover the Surprising Benefits of Health Savings Accounts – Gilbert Wealth. What Can You Use the HSA for? HSA funds can be used for a wide range of qualified medical expenses, as defined…
Read More

What Does the Bible Say About Retirement? A Biblical Perspective on Aging and Purpose

Retirement, in the modern sense, is a relatively new concept—stepping away from paid work to spend your later years in leisure. The Bible doesn’t speak directly about retirement the way we do today. There are no verses that lay out a formal age to stop working, no discussions about pension plans or travel goals. And yet, Scripture speaks profoundly to what it means to grow older, to transition into a new season, and to live each remaining day with purpose. You may have finished the rat race—early mornings, long meetings, pressing deadlines. But if you’re reading this, you haven’t finished…
Read More

Lifetime Gifting Without Regret: How to Give Without Compromising Your Future

Many individuals aspire to share their wealth during their lifetimes with family and friends. Lifetime gifting can be a meaningful expression of love, support, and generosity—helping children buy their first homes, supporting a grandchild’s education, or simply offering help when needed. However, these well-intentioned gifts can sometimes compromise the giver’s own financial security if not approached with thoughtful planning. The Impact of Gifting During Your Lifetime Unlike bequests that aren't received by the beneficiary until death, lifetime gifts allow you to witness and enjoy the benefits your loved one's experience from your generosity. For example, a gift toward a home…
Read More

Discerning Between Trusting in God Versus Trusting in Wealth: A Christian Reflection on Stewardship and Faith

For Christians who have accumulated wealth—whether through diligent work, wise planning, or God's providential blessings—the question is not merely how to manage it, but how to relate to it. Financial success can open doors to generosity, influence, and legacy. Yet it also presents a subtle spiritual challenge: Am I still trusting in God, or has my security quietly shifted to what I possess? Scripture does not condemn wealth, but it does repeatedly warn against the spiritual dangers of misplaced trust. Stewardship or Misplaced Faith? It can be spiritually challenging to discern where stewardship ends and misplaced trust begins. Wealth can…
Read More

What to Know About Claiming Social Security Early or Delaying Social Security

Social Security retirement benefits are designed to provide a steady income stream in retirement, but the amount you receive depends on when you claim. The decision to claim benefits early, at full retirement age (FRA), or delay past FRA significantly impacts the monthly payments you will receive for the rest of your life. Understanding how early claiming reduces benefits and how delayed claiming increases them is critical for optimizing Social Security as part of a broader retirement strategy. What It Means to Claim Early or Delay Social Security? Claiming early or delaying social security is simply the decision of when…
Read More

How to Report Donations to a Donor Advised Fund (DAF) On Your Taxes

Donor Advised Funds (DAF) allows donors to contribute assets, receive immediate tax deductions, and later direct grants to their preferred charitable organizations. They are simple, yet powerful tools to use in a giving strategy. See Charitable Giving through a Donor Advised Fund – Gilbert Wealth for more information on why DAF's are so powerful.If you've decided to use a DAF, now you need to correctly reporting these donations on your tax return is crucial to ensure compliance with IRS regulations and to fully benefit from the available deductions. The Tax Benefits of DAF's Immediate Tax DeductionOne of the main advantages of donating to…
Read More

A Brief History of the Ups and Downs of the Market

Investing in the stock market is a lot like riding a roller coaster—you know there will be drops, but that doesn’t mean your stomach won’t lurch when they happen. Every investor dreams of a smooth, uphill ride to wealth, but in reality, markets take detours, hit potholes, and sometimes feel like they’ve been hijacked by a mischievous toddler at the controls. Yet, history shows that those who hang on tight and resist the urge to jump off mid-ride are usually the ones who reach their destination with the best returns. On average, the S&P 500 has increased in price by…
Read More

What to Expect When Transferring Financial Accounts Between Firms

If you aren't used to moving money around, transferring your financial accounts can be a little nerve-wracking. The process itself is relatively straightforward process—but it helps to understand the steps involved.There can be several ways that transfers can be implemented depending on the account, the custodian, and the titling. At Gilbert Wealth, I help my clients through every step of the way.  The Basic Transfer Process When you transfer an account from one financial firm to another, the process is typically managed behind the scenes by the institutions involved. In most cases, once you’ve signed the paperwork, the firm handles…
Read More

Guide to Hiring Your Kids for Work

Hiring your children to work—whether in a business, household tasks, or freelance-type work—can provide them with valuable skills, a sense of responsibility, and financial benefits. It can also offer tax advantages for you while helping them build savings for future goals and start down a path of financial independence. Paying children can make them eligible to save to Roth IRA's, which if done early can be a huge boost to their financial futures. However, certain rules apply depending on the type of work, compensation, taxes, and documentation required. This article covers what you need to know about hiring your kids. What Kind…
Read More

How To Access Your Full Social Security Earnings Record

https://youtu.be/xlwurILhXNYFirst, Log Into Your mySSA AccountBefore you can access your earnings statement, you’ll need to log in to your mySSA account.How to Log In:Go to www.ssa.govClick Sign In in the top-right corner.Choose one of the three sign-in methods available.Enter your credentials and complete the security verification process.After signing in, you will be redirected to the mySSA home page.Once logged in, you can now proceed with one of the three methods to download your earnings record.Note: To get your full earnings record, DO NOT USE the PDF option under the "Your Social Security Statement" section.Option 1: Download Your Earnings as an XML…
Read More