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# FMP Wealth Advisers

We help our clients see around the financial corner™

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## Posts

- [5 Big Tax Cuts Coming in 2025 from the One Big Beautiful Bill Act (OBBBA)](https://fmpwa.com/5-big-tax-cuts-coming-in-2025-from-the-one-big-beautiful-bill-act-obbba/) - By Christian Hudspeth, CFP® Congress’ Summer 2025 passage of President Trump’s “One Big Beautiful Bill Act” (OBBBA) keeps most of the familiar tax rules we’ve known since 2018. Importantly, all of the same income tax brackets have returned and have been made permanent, so no one’s tax rates have gone up as they would have
- [Have Unused 529 Funds? 3 Smart Ways to Use Them](https://fmpwa.com/have-unused-529-funds-3-smart-ways-to-use-them/) - By Christian Hudspeth, CFP® Whether it’s because your child landed scholarships or they changed their mind about higher education, there are plenty of good reasons why there’s leftover money in their 529 plan. So, what is the best thing to do with unused 529 funds? Many people think the answer to this question simply revolves
- [Using 529 Funds to Build a Legacy (No Trusts Required)](https://fmpwa.com/using-529-funds-to-build-a-legacy-no-trusts-required/) - By Christian Hudspeth, CFP(R) At age 80, my grandma told me one of her proudest achievements was helping fund college for her three grandchildren and four great-grandchildren (I remember as she grinned, counting on both hands and then holding up seven fingers). Her $10,000 investment in each education account covered four years of college tuition
- [Selling Your Home? How to Minimize Capital Gains Taxes](https://fmpwa.com/selling-your-home-how-to-minimize-capital-gains-taxes/) - by Christian Hudspeth, CFP® Thinking of selling your home? Spring and summer are historically the busiest (and most profitable) times of the year for people to sell homes thanks to nicer weather and more inventory for buyers to choose from. That said, we find many clients become apprehensive about selling their primary home because they
- [The Cost of Missing the 10 Best Days in the Stock Market](https://fmpwa.com/the-cost-of-missing-the-10-best-days-in-the-stock-market/) - If you're investing regularly for a retirement that's at least 10 years away, history shows us it's difficult to be successful in selling stocks and waiting until later "when things look like they've calmed down" before being invested again. In fact, doing that can put you years behind in reaching your retirement. Try this instead.
- [Is Now the Best Time for a Roth IRA Conversion?](https://fmpwa.com/is-now-the-best-time-for-a-roth-ira-conversion/) - Roth IRA conversions during down markets can yield large tax savings, but only if you avoid one key mistake many investors make.
- [11 Ways Secure Act 2.0 Affects Your 401ks and IRAs, Starting 2023](https://fmpwa.com/11-ways-secure-act-2-0-affects-your-401ks-and-iras-starting-2023/) - How you contribute or withdraw from your IRAs, 401ks and other retirement plans in the coming years will be impacted. Here's how.
- [When to Keep Your Life Insurance Policy (and When to Drop it)](https://fmpwa.com/the-top-reasons-to-keep-or-drop-your-life-insurance-coverage/) - by Christian Hudspeth, CFP® “Should I keep my life insurance policy?” This is a question our clients often ask, especially those who have been paying life insurance premiums on their policies for several years or decades. To explore this question, let’s review life insurance’s main purpose. Why and When It's Important to Have Life Insurance
- ["The Largest Property Tax Cut in Texas History" May be On Its Way](https://fmpwa.com/the-largest-property-tax-cut-in-texas-history-may-be-on-its-way/) - by Christian Hudspeth, CFP® Property tax cuts may be on the way for Texans this year. Using some of the state's $30-billion budget surplus, Texas legislators recently passed what they call "the largest property tax cut in the history of Texas,” which aims to reduce the average Texas homeowner's annual property tax bill by roughly
- [4 Tax-Smart Ways to Donate More and Pay Less](https://fmpwa.com/4-tax-smart-ways-to-donate-more-and-pay-less/) - by Christian Hudspeth, CFP® As we approach the season of generosity, you may find it heartwarming to know that more than 50% of all US households (and 81% of affluent households) donate to qualified charities of all kinds each year according to CCS Fundraising’s Philanthropic Landscape Report. Almost all (97%) who donated said their decision
- [5 Secure Act 2.0 Changes Coming to Your 401ks, IRAs in 2024](https://fmpwa.com/5-secure-act-2-0-changes-coming-to-your-401ks-iras-in-2024/) - by Christian Hudspeth, CFP® The Secure Act 2.0 law continues to bring sweeping IRA and 401k changes to workers and retirees alike. And plenty of opportunities that could lead you to financial independence sooner. Since the law went into effect in 2023, Secure Act 2.0 has: Deferred taxes longer for IRA owners by raising the
- [Should I Do My Own Taxes or Hire an Expert?](https://fmpwa.com/should-i-do-my-own-taxes-or-hire-an-expert/) - By Christian Hudspeth, CFP® “Should I hire someone to do my taxes or could I do this myself?” This is a question I often received in my days as a professional tax preparer several years ago. Being in the fortunate position of having plenty of business, I had an honest response that depended on the
- [Are You Saving Too Much for Retirement?](https://fmpwa.com/are-you-saving-too-much-for-retirement/) - By Christian Hudspeth, CFP(R) You know the biggest misconception I run into among people who have never worked with a financial advisor before is? It’s that a financial advisor is going to tell you to save every penny and that you can never spend money on anything fun. This is a myth. A good advisor
- [Planning for Retirement: How Much is Enough?](https://fmpwa.com/planning-for-retirement-how-much-is-enough/) - By: Christian Hudspeth, CFP® “When can I retire?” “How much do I need to retire?” “Will I ever be able to retire?” Regardless of how much income people make or the size of their net worth, I’ve seen these questions bring anxiety to hard workers, entrepreneurs, and diligent savers alike. The average American believes they
- [My Tech Stock Has Surged and I’m Nearly Retired… What’s My Next Move?](https://fmpwa.com/my-tech-stock-has-surged-and-im-nearly-retired-whats-my-next-move/) - By Christian Hudspeth, CFP® As retirement draws nearer, some holding large positions in tech stock begin to get nervous. Especially with the great performance these stocks have had in recent years. Take the performance of the “Magnificent 7” stocks – Microsoft, Amazon, Meta, Apple, Alphabet, Nvidia, or Tesla -- over the past several years for
- [Social Security Benefits Rise for Millions of Teachers and Public Workers in 2025](https://fmpwa.com/social-security-benefits-rise-for-millions-of-teachers-and-public-workers-in-2025/) - By Christian Hudspeth, CFP® Good news for teachers, first responders, and public sector employees – the bipartisan passage of the “Social Security Fairness Act” means up to three million of these American public service workers will soon receive larger Social Security checks in retirement. The 2025 law repeals the Windfall Elimination Provision (WEP) and the
- [Filing Taxes at the Last Minute? 4 Tips from a Former Tax Preparer](https://fmpwa.com/filing-taxes-at-the-last-minute-4-tips-from-a-former-tax-preparer/) - by Christian Hudspeth, CFP® It’s tax season again, and while December 31 of last year has come and gone, it’s not too late to make smart moves to reduce your tax bill and buy yourself some time. As a former tax preparer who has spent Tax Day (April 15th) with clients filing taxes at the
- [How to Pay Little to No Taxes in Retirement and Leave a Tax-Free Inheritance](https://fmpwa.com/how-to-pay-little-to-no-taxes-in-retirement-and-leave-a-tax-free-inheritance/) - By Christian Hudspeth, CFP® This year, newly retired John and Mary lived on $100,000 of portfolio withdrawals while paying a 0% income tax rate on those withdrawals. They also moved $140,000 from their pre-tax IRAs into Roth IRAs this year. Through this Roth IRA conversion, they paid an average tax rate of just 8%. Inside
- [4 New Ways to Reduce Taxes and Grow Your Wealth in 2026](https://fmpwa.com/4-new-ways-to-reduce-taxes-and-grow-your-wealth-in-2026/) - By Christian Hudspeth CFP® With tax season in full swing, here are four tax-saving and wealth-building opportunities that we hope you don’t miss out on as the new OBBBA tax law takes effect. New $40,000 tax deduction for homeowners Own a home or a second home? You may deduct up to $40,000 in state and
- [How to Protect Your Small Business from Cyber Threats](https://fmpwa.com/how-to-protect-your-small-business-from-cyber-threats/) - Risk management is a key component in any successful business plan. In today's world — where data breaches are common occurrences — it's especially important for business owners to understand the digital risks they face. Are you doing all you can to mitigate the risk of a cyberattack? The importance of cybersecurity Many small-business owners
- [Six Keys to More Successful Investing](https://fmpwa.com/six-keys-to-more-successful-investing/) - A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully. Long-term compounding can help your nest egg grow It's the "rolling
- [Tax Planning for the Self-Employed](https://fmpwa.com/tax-planning-for-the-self-employed/) - Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes and take charge of your own retirement plan, among other things. Here are some planning tips. Understand self-employment tax and how
- [Teaching Your College-Age Child About Money](https://fmpwa.com/teaching-your-college-age-child-about-money/) - When your child first started school, you doled out the change for milk and a snack on a daily basis. But now that your kindergartner has grown up, it's time for you to make sure that your child has enough financial knowledge to manage money at college. Lesson 1: Budgeting 101 Perhaps your child already
- [Understanding Risk](https://fmpwa.com/understanding-risk/) - Few terms in personal finance are as important, or used as frequently, as "risk." Nevertheless, few terms are as imprecisely defined. Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion. Advisors label as aggressive or risky an investment
- [Buying Supplemental Health Insurance: Medigap](https://fmpwa.com/buying-supplemental-health-insurance-medigap/) - Medicare won't cover all of your health-care costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Original Medicare, helping you fill the gaps in your Medicare coverage. When's the best time to
- [Four Things Women Need to Know about Social Security](https://fmpwa.com/four-things-women-need-to-know-about-social-security/) - Ever since a legal secretary named Ida May Fuller received the first retirement benefit check in 1940, women have been counting on Social Security to provide much-needed retirement income. Social Security provides other important benefits too, including disability and survivor benefits that can help you and your family members. 1. How does Social Security protect
- [Disaster Preparedness for Businesses](https://fmpwa.com/disaster-preparedness-for-businesses/) - As a successful business owner, you don't want to think about your operations being interrupted by a natural disaster or other unexpected event. Yet the possibility is a real one. Natural catastrophes represent just a portion of the crises that your business could face. Although you may not be located in an area prone to
- [Investing With Your Spouse](https://fmpwa.com/investing-with-your-spouse/) - Investing with your spouse can be a difficult transition as you get married. Some people decide to keep their investments separate and others decide to combine finances when they get married. There is no right or wrong answer, but there are some things to understand about your investments and income when you get married. There are four types
- [Ways to Financially Start as a College Student](https://fmpwa.com/ways-to-financially-start-as-a-college-student/) - Congratulations on making it to college and doing all the work to get there! Now you are there, and college has opened your eyes to endless opportunities. It has also filled you with endless questions. What is this? What does that mean? Do I need to do this now? When will I need it in
- [Pensions: Get Income for Life or Take the Lump Sum?](https://fmpwa.com/pensions-get-income-for-life-or-take-the-lump-sum/) - You may only get one chance to get this right. Answer these four major questions confidently before making your pension decision.
- [Using Itemized Deductions to Save Money on Taxes](https://fmpwa.com/using-itemized-deductions-to-save-money-on-taxes/) - Here are more than 30 commonly-missed expenses you could claim as itemized deductions before it's time to file.
- [Our Top 5 Most-Asked Social Security Questions ](https://fmpwa.com/our-top-5-most-asked-social-security-questions/) - by Christian Hudspeth, CFP® The Social Security decision. Nearly every taxpayer in America must make it. When should I take Social Security? Could I be penalized or miss out on thousands of dollars over my lifetime if I make a mistake? How do I know if I made the right decision? The "when and how"
- [Five Questions About Long-Term Care](https://fmpwa.com/five-questions-about-long-term-care/) - 1. What is long-term care? Long-term care refers to the ongoing services and support needed by people who have chronic health conditions or disabilities. There are three levels of long-term care: Skilled care: Generally round-the-clock care that's given by professional health care providers such as nurses, therapists, or aides under a doctor's supervision.Intermediate care: Also
- [Life Insurance and Estate Planning](https://fmpwa.com/life-insurance-and-estate-planning/) - Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed income to your survivors, provide for your children's education, pay off your
- [Five Keys to Investing for Retirement](https://fmpwa.com/five-keys-to-investing-for-retirement/) - Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you have some investing experience or are just getting started. 1. Don't lose ground to inflation It's easy to see how inflation
- [The Ins and Outs of Homeowner's Insurance](https://fmpwa.com/the-ins-and-outs-of-homeowners-insurance/) - What does homeowner’s insurance cover? Or maybe just as importantly, what does it not cover? Whether you are a homeowner wondering if you should file a claim on recent property damage or a new home buyer looking for a homeowner’s insurance policy for the first time, these questions will no doubt come up from time to time. One
- [Teach Your Children Well: Basic Financial Education](https://fmpwa.com/teach-your-children-well-basic-financial-education/) - Even before your children can count, they already know something about money: it's what you have to give the ice cream man to get a cone, or put in the slot to ride the rocket ship at the grocery store. So, as soon as your children begin to handle money, start teaching them how to
- [How to Protect Yourself Against Identity Theft](https://fmpwa.com/how-to-protect-yourself-against-identity-theft/) - Massive computer hacks and data breaches are now common occurrences — an unfortunate consequence of living in a digital world. Once identity thieves have your information, they can use it to gain access to your bank and credit card accounts, make unauthorized transactions in your name, and subsequently ruin your credit. Now more than ever,
- [Estate Planning: An Introduction](https://fmpwa.com/estate-planning-an-introduction/) - By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are. Your age, health, wealth, lifestyle, life
- [Social Security Retirement Benefits](https://fmpwa.com/social-security-retirement-benefits/) - Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program. How do you qualify for retirement benefits? When you work and pay Social Security taxes
- [Repaying Your Student Loans](https://fmpwa.com/repaying-your-student-loans/) - You vaguely remember signing a form every year at college registration time. Now that you've graduated, it's all become painfully clear — those forms were promissory notes detailing your student loan obligations. Your loans aren't going away, and you'll want to repay them as quickly as possible. So whether you have a small sum or
- [How aggressive should I be when I invest for retirement?](https://fmpwa.com/how-aggressive-should-i-be-when-i-invest-for-retirement/) - Answer: It depends. The right answer in your case will depend on a number of key factors. These include, among others, your income and assets, your attitude toward risk, whether you have access to an employer-sponsored plan at work, the age at which you plan to retire, and your projected expenses during retirement. But it's
- [Sudden Wealth](https://fmpwa.com/sudden-wealth/) - What would you do with an extra $10,000? Maybe you'd pay off some debt, get rid of some college loans, or take a much-needed vacation. What if you suddenly had an extra million or 10 million or more? Now that you've come into a windfall, you have some issues to deal with. You'll need to
- [How Grandparents Can Help Grandchildren with College Costs](https://fmpwa.com/how-grandparents-can-help-grandchildren-with-college-costs/) - As the cost of a college education continues to climb, many grandparents are stepping in to help. This trend is expected to accelerate as baby boomers, many of whom went to college, become grandparents and start gifting what's predicted to be trillions of dollars over the coming decades. Helping to pay for a grandchild's college
- [SECURE ACT OF 2019](https://fmpwa.com/secure-act-of-2019/) - Setting Every Community Up for Retirement Enhancement Act of 2019 Summary of Legislation by FMP Wealth Advisers Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act on December 19, 2019. We have reviewed the new legislation and summarized in this document the items we believe to be of most impact and interest
- [Paycheck Protection Program Summary and Related Links](https://fmpwa.com/paycheck-protection-program/) - As everyone continues to get information on the CARES Act, we want to provide you with some of latest updates we have seen. Yesterday, April 8, 2020, the Treasury Department issued an updated Paycheck Protection Program F.A.Q. The Paycheck Protection Program formally launched on Friday, April 3rd. The program is in very high demand and has
- [Business Succession Planning](https://fmpwa.com/business-succession-planning/) - When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to family members, co-owners, employees, or an outside party? The key
- [Handling Finances Before You Get Married pt. 1](https://fmpwa.com/handling-finances-before-you-get-married-pt-1/) - Part 1: Starting the Conversation Going from dating to engaged is a time full of joy. The same can be said when you finally get married. Within one year I graduated college, started my career, and will be getting married. For me, there was something so special about walking through those many changes in life
- [Handling Finances Before You Get Married Pt. 2](https://fmpwa.com/handling-finances-before-you-get-married-pt-2/) - Part 2: Get Technical In part one, we discussed the benefit of having a conversation about finances with your significant other, setting goals, establishing time horizons, creating a budget and paying off debts. Now I want to talk about the financial accounts and investments that can hopefully allow you to reach the goals you set.
- [FMP is excited and proud to share that Mike Carr is the New Public Speaking World Champion!](https://fmpwa.com/fmp-is-excited-and-proud-to-share-that-mike-carr-is-the-new-public-speaking-world-champion/) - Mike is a Lead Adviser in our Austin office and won the Toastmasters World Championship of Public Speaking last month. Competing against 30,000 participants from 145 countries, he won with an inspiring speech titled “The Librarian & Mrs. Montgomery.” You can view Mike’s speech here. Mike joined Toastmasters 25 years ago to reduce his use of
- [Transferring Your Family Business](https://fmpwa.com/transferring-your-family-business/) - As a business owner, you're going to have to decide when will be the right time to step out of the family business and how you'll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the
- [Wills: The Cornerstone of Your Estate Plan](https://fmpwa.com/wills-the-cornerstone-of-your-estate-plan/) - If you care about what happens to your money, home, and other property after you die, you need to do some estate planning. There are many tools you can use to achieve your estate planning goals, but a will is probably the most vital. Even if you're young or your estate is modest, you should
- [CARES Act of 2020 Summary of Legislation by FMPWA](https://fmpwa.com/cares-act-of-2020-summary-of-legislation-by-fmpwa/) - Coronavirus Aid, Relief, and Economic Security Act of 2020Summary of Legislation by FMP Wealth Advisers Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020 in response to the coronavirus pandemic. The $2-trillion stimulus package will allow the federal government to provide financial assistance to individuals, businesses, and local
- [Bear Markets Come and Go](https://fmpwa.com/bear-markets-come-and-go/) - One of the longest bull markets in history lasted almost 11 years before coronavirus fears and the realities of a seriously disrupted U.S. economy brought it to an end. *If you are losing sleep over volatility driven by a cascade of disheartening news, it may help to remember that the stock market is historically cyclical.
- [Social Security Retirement Benefits](https://fmpwa.com/social-security-retirement-benefits-2/) - Social Security was originally intended to provide older Americans with continuing income after retirement. Today, though the scope of Social Security has been widened to include survivor, disability, and other benefits, retirement benefits are still the cornerstone of the program. How do you qualify for retirement benefits? When you work and pay Social Security taxes
- [Caring For Your Aging Parents](https://fmpwa.com/caring-for-your-aging-parents/) - What is it? Caring for your aging parents is something you hope you can handle when the time comes, but something you probably hope you never have to do. Caring for your aging parents means helping them plan for the future, and this can be overwhelming, both physically and emotionally. When the time comes for
- [Your Retirement Number](https://fmpwa.com/your-retirement-number/) - As you may have noticed by the advertisements, a currently popular trend in retirement planning is to calculate “your number.” This refers to the amount of savings you need to have at retirement. From a marketing perspective, “your number” attracts consumers who prefer simplicity and an easily defined goal, but from a financial perspective, “your
- [Investment Return Calculations](https://fmpwa.com/investment-return-calculations/) - Investment returns should be evaluated and compared in reference to a specified length of time. A 7% total return is not meaningful performance data without knowing the length of time it took to earn the 7%. Likewise, comparing a 7% total return over three years versus a 7% total return over five years will not
- [Traditional IRA vs. Roth IRA](https://fmpwa.com/traditional-ira-vs-roth-ira/) - Traditional IRAs and Roth IRAs have similarities and differences. Some people may wonder which account type is better, but no answer applies universally. Which account to use depends on the personal financial situation and goals of the individual. People who are considering using an IRA should evaluate the features of each so they can determine
- [Tax Cuts and Jobs Act of 2017](https://fmpwa.com/tax-cuts-and-jobs-act-of-2017/) - Summary of Legislation by FMP Wealth Advisers Congress passed the Tax Cuts and Jobs Act on December 20, 2017. We have reviewed the details of this new legislation and summarized in this document the items we believe to be of most impact and interest to our clients. In favor of brevity, we have not included
- [Helping You See Around The Financial Corner](https://fmpwa.com/helping-you-see-around-the-financial-corner/) - FMP Wealth Advisers is a fee-only financial planning and investment advisory firm that provides solutions to comprehensive financial planning, investment management, qualified plans, and private investments. Milton Hixson founded FMP Wealth Advisers in 1987 as one of the first fee-only personal wealth management firms. FMP has since grown into a 14-person client-focused team that helps
- [Certified Financial Planner™ Certification](https://fmpwa.com/certified-financial-planner-certification/) - A CFP® certificant is an individual who has successfully completed the initial and ongoing certification requirements established by the Certified Financial Planner Board of Standards Inc. (CFP Board). CFP® practitioners voluntarily submit to the certification requirements in order to demonstrate their competence and expertise as a financial planner. Anyone may call themselves a financial planner,
- [3 Ways the New Tax Law Can (and Will) Affect Your Charitable Giving](https://fmpwa.com/3-ways-the-new-tax-law-can-and-will-affect-your-charitable-giving/) - The new tax law has made it a little more difficult to decide how you make your gifts to charity. Here’s why: The standard deduction has increased from $12,000 to $24,000. So, what does that mean to you? On your tax return you can deduct the larger amount of the standard deduction ($12,700 for married
- [FMP Wealth Advisers named by AdvisoryHQ on their List of Top 10 Financial Advisors in Austin, TX](https://fmpwa.com/fmp-wealth-advisers-named-by-advisoryhq-on-their-list-of-top-10-financial-advisors-in-austin-tx/) - FMP Wealth Advisers Review by AdvisoryHQ[1] With locations in Austin and Beaumont, Texas and Lake Charles, Louisiana, FMP Wealth Advisers has been providing personal wealth management services since 1987. They also have the distinction of being one of the first fee-only financial advisory firms. As one of the best fee-only financial planners in Austin, FMP employs a
- [What are my options if I inherit an IRA or an employer retirement savings account?](https://fmpwa.com/what-are-my-options-if-i-inherit-an-ira-or-an-employer-retirement-savings-account/) - If you don't want the money, you can always disclaim (refuse to accept) the inherited IRA or plan funds. But if you're like most people, you will want the money. Your first thought may be to take a lump-sum distribution, but that's usually not the best idea. Although a lump sum provides you with cash
- [Adjusting to Life Financially after a Divorce](https://fmpwa.com/adjusting-to-life-financially-after-a-divorce/) - There's no doubt about it — going through a divorce can be an emotionally trying time. Ironing out a divorce settlement, attending various court hearings, and dealing with competing attorneys can all weigh heavily on the parties involved. In addition to the emotional impact a divorce can have, it's important to be aware of how
- [Joint or separate accounts – which one is best for you and your partner?](https://fmpwa.com/joint-or-separate-accounts-which-one-is-best-for-you-and-your-partner/) - If you’re married or cohabitating, at some point you must decide how to manage you and your partner’s joint finances. There are multiple ways to successfully manage joint finances, so you both must decide which money management style works best for both parties. Using one of these three methods of jointly managing finances is easy
- [How important is your credit history?](https://fmpwa.com/how-important-is-your-credit-history/) - How important is your credit history? It can be critical if you are needing a mortgage, buying a car, applying for insurance, renting an apartment or house, or even when you are applying for a job. Sometimes even having no credit history can be a big barrier to obtaining a loan. An important step in building
- [Retiring Successfully](https://fmpwa.com/retiring-successfully/) - Three things Generation X needs to focus on to retire successfully: A recent survey from the Transamerica Center for Retirement Studies found that Gen X Americans are more likely than baby boomers and millennials to indicate they "may never recover" or have "not yet begun to recover" from the Great Recession. At the same time,
- [Sending your baby off to college?](https://fmpwa.com/sending-your-baby-off-to-college/) - My family still gets a good laugh from the story of me asking how to tell which one was the dryer. My beloved Aunt Polly responded with the perfect gift—a laundry basket, detergent, two rolls of quarters, and a diagram! It saved my life, and thanks to my wife my son is already ahead of
- [How Secure Is Social Security?](https://fmpwa.com/how-secure-is-social-security/) - If you're retired or close to retiring, then you've probably got nothing to worry about — your Social Security benefits will likely be paid to you in the amount you've planned on (at least that's what most of the politicians say). But what about the rest of us? The media onslaught Watching the news, listening
- [Understanding the Net Investment Income Tax](https://fmpwa.com/understanding-the-net-investment-income-tax/) - If your income hits a certain level, you may face an additional wrinkle in calculating your taxes: the net investment income tax (also referred to as the unearned income Medicare contribution tax). This 3.8% Medicare tax applies to some or all of your net investment income if your modified adjusted gross income (MAGI) exceeds certain
- [6 Tips to Avoid Being Financially Scammed in 2024](https://fmpwa.com/6-tips-to-avoid-being-financially-scammed-in-2024/) - By Christian Hudspeth, CFP® Saying “it could never happen to me” has never sounded more foolish when it comes to being financially frauded today in the US. Almost one in five US adults in 2023 reported that someone in their household has become a victim of financial fraud in the past year, according to a
- [Checklist: Is Your 18-Year-Old Child Legally Set Up for Adulthood?](https://fmpwa.com/checklist-is-your-18-year-old-child-legally-set-up-for-adulthood/) - Your child is now legally an adult! What comes next? Parents are often so in the habit of doing things on behalf of their minor children -- making doctor’s appointments, managing investments in custodial accounts, paying bills – that they are likely to forget they are no longer authorized to manage their children’s affairs after
- [Maximize Your Home’s Resale Value in 7 Easy Steps](https://fmpwa.com/maximize-your-homes-resale-value-in-7-easy-steps/) - By Christian Hudspeth, CFP® When the time comes to move, I don’t know anyone who doesn’t want to sell their home for top dollar and quickly. But is this something you must leave to the whims of the housing market? Or can we find ways to highlight our home’s value to sell it faster and
- [The Basics of Shopping for Medicare Advantage Plans During Open Enrollment](https://fmpwa.com/the-basics-of-shopping-for-medicare-advantage-plans-during-open-enrollment/) - Medicare Advantage plans have been gaining in popularity as Medicare recipients find them to be an affordable alternative to supplemental Medigap plans. In fact, more than 51% of all Medicare beneficiaries are projected to be enrolled in Medicare Advantage plans by 2030 according to data from the Congressional Budget Office. If you're thinking of getting
- [529 Plans Vs. One Great Alternative](https://fmpwa.com/529-plans-vs-one-great-alternative/) - by Christian Hudspeth, CFP® Want to help yourself or someone in your family pursue higher education? I can’t think of a better way to keep your legacy strong and your name remembered by those you love than by starting a college fund for them. To do that, you’ll need a plan. Here’s why. In the
- [5 Ways to Supercharge Your Paycheck during Open Enrollment](https://fmpwa.com/5-ways-to-supercharge-your-paycheck-during-open-enrollment/) - by Christian Hudspeth, CFP®As sure as the changing leaves, Fall means it’s open enrollment season again in Corporate America!Yes, some of you may dread the thought of slogging through HR forms again. But we see open enrollment as a prime opportunity to maximize your employer benefits, minimize lifetime taxation and put your financial goals into

## Pages

- [Homepage](https://fmpwa.com/)
- [Solutions](https://fmpwa.com/solutions/)
- [Contact Us](https://fmpwa.com/contact/)
- [Zach Pendleton](https://fmpwa.com/zach-pendleton/)
- [Tim Nabers, J.D.](https://fmpwa.com/tim-nabers-j-d/)
- [Private Investments](https://fmpwa.com/private-investments/)
- [Sharon Benson](https://fmpwa.com/sharon-benson/)
- [Qualified Plans](https://fmpwa.com/qualified-plans/)
- [Yolanda Longoria](https://fmpwa.com/yolanda-longoria/)
- [Sandra Henry](https://fmpwa.com/sandra-henry/)
- [Milton Hixson, CFP®](https://fmpwa.com/milton-hixson-cpa-cfp/)
- [Portfolio](https://fmpwa.com/portfolio/)
- [Michael Carr, CRPC®](https://fmpwa.com/michael-carr/)
- [Heidi Proby](https://fmpwa.com/heidi-proby/)
- [Lawrence Kellogg](https://fmpwa.com/lawrence-kellogg/)
- [Christian Hudspeth, CFP®](https://fmpwa.com/christian-hudspeth/)
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- [Investment Management](https://fmpwa.com/investment-management/)
- [Financial Planning](https://fmpwa.com/financial-planning/)
- [Meet Our Team](https://fmpwa.com/meet-our-team/)
- [Casey Clay Hall, CFP®, CRPC®](https://fmpwa.com/casey-clay-hall-cfp-crpc/)
- [Les Hixson, CFP®](https://fmpwa.com/les-hixson-cfp/)
- [Kevin Hixson, CFP®](https://fmpwa.com/kevin-hixson-cfp/)
- [Daniel Frick, CFP®​, CFA](https://fmpwa.com/daniel-frick-cfp-cfa/)
- [John Hixson, CFP®](https://fmpwa.com/john-hixson-cfp/)
- [Adam Todd, CFP®](https://fmpwa.com/adam-todd-cfp/)

## Portfolio

- [Amy Lawson](https://fmpwa.com/portfolio/amy-lawson/) - Client Relationship Manager
- [Andrew Seidel](https://fmpwa.com/portfolio/andrew-seidel/) - Investment Analyst
- [Jacob Lemaire](https://fmpwa.com/portfolio/jacob-lemaire/) - Client Relationship Manager
- [Chris Hehman](https://fmpwa.com/portfolio/chris-hehman/) - Associate Adviser
- [Alia Alsaffar](https://fmpwa.com/portfolio/alia-alsaffar/) - Client Service Specialist
- [Adam Todd, CFP®](https://fmpwa.com/portfolio/adam-todd-cfp/) - President
- [Les Hixson, CFP®](https://fmpwa.com/portfolio/les-hixson-cfp/) - Chief Investment Officer
- [Milton Hixson](https://fmpwa.com/portfolio/milton-hixson/) - Founder
- [Joshua Williams](https://fmpwa.com/portfolio/joshua-williams/) - Financial Planner
- [Zach Pendleton, CFP®](https://fmpwa.com/portfolio/zach-pendleton-cfp/) - Lead Adviser
- [Casey Clay Hall, CFP®](https://fmpwa.com/portfolio/casey-clay-hall-cfp-crpc/) - Director of Financial Planning
- [Christian Hudspeth, CFP®](https://fmpwa.com/portfolio/christian-hudspeth-cfp/) - Senior Financial Planner
- [John Hixson, CFP®](https://fmpwa.com/portfolio/john-hixson-cfp/) - Senior Adviser
- [Lawrence Kellogg](https://fmpwa.com/portfolio/lawrence-kellogg/) - Director of Operations and Compliance
- [Tim Nabers, J.D.](https://fmpwa.com/portfolio/tim-nabers-j-d/) - Senior Adviser
- [Yolanda Longoria](https://fmpwa.com/portfolio/yolanda-longoria/) - Client Service Specialist
- [Kevin Hixson, CFP®](https://fmpwa.com/portfolio/kevin-hixson-cfp/) - Director of Client Service
- [Daniel Frick CFP®​, CFA](https://fmpwa.com/portfolio/daniel-frick-cfp-cfa/) - Lead Adviser
- [Michael Carr, CRPC®](https://fmpwa.com/portfolio/michael-carr-crpc/) - Lead Adviser
- [Sandra Henry](https://fmpwa.com/portfolio/sandra-henry/) - Client Relationship and Office Manager

## Personnel

- [Adam Todd, CFP®](https://fmpwa.com/bio/adam-todd-cfp/) - Born in Houston and raised in San Antonio, Adam had his first contact with financial services as a child, when he participated in the test marketing of an innovative children’s product, ParentBanc, a checkbook designed for children to use with their parents’ guidance. That experience, which helped him understand the value of saving and financial
- [Les Hixson, CFP®](https://fmpwa.com/bio/les-hixson-cfp/) - Les was born in Lake Charles, Louisiana and raised in Austin, Texas. In 1998, Les graduated from Baylor University with a Bachelor of Business Administration degree with a major in Management Information Systems. Les obtained his Certified Financial Planner™ certification and fulfilled the other requirements to earn the CFP® designation in 2009. Les began his
- [Milton Hixson, CPA, CFP®](https://fmpwa.com/bio/milton-hixson-cpa-cfp/) - Born October 12, 1950, Milton is a native of Lake Charles, Louisiana. After graduation from Baylor University with a Bachelor of Business Administration degree in 1972, he was employed by Arthur Andersen & Company. During the two years of employment with Arthur Andersen & Co., Milton received his Certified Public Account (CPA) designation. In 1974,
- [Sharon Benson](https://fmpwa.com/bio/sharon-benson/)
- [Yolanda Longoria](https://fmpwa.com/bio/yolanda-longoria/)
- [Heidy Proby](https://fmpwa.com/bio/heidy-proby/)
- [Sandra Henry](https://fmpwa.com/bio/sandra-henry/)
- [Michael Carr](https://fmpwa.com/bio/michael-carr/) - Mike started his first business at age 14 and has been a student of finance and economics ever since. Along the way he has worked with a Texas State Representative, two U.S. Senators, and three Global Financial Firms before joining FMP. After graduating from Abilene Christian University, Mike worked with U.S. Senator David Boren who
- [Daniel Frick, CFP®​, CFA](https://fmpwa.com/bio/daniel-frick-cfp​-cfa/) - Dan Frick, born in 1984, grew up in Dallas, Texas. After graduating high school in Dallas, Dan attended Loyola University New Orleans. In 2007, he graduated from Loyola, Summa Cum Laude with a Bachelor of Business Administration degree with a double major in Finance and International Business. At graduation he was presented with The World
- [David Theobald, CPA](https://fmpwa.com/bio/david-theobald-cpa/)
- [Casey Clay Hall, CFP®, CRPC®](https://fmpwa.com/bio/casey-clay-hall-cfp-crpc/) - Casey was born December 13, 1983 in Huntsville, Texas and grew up in Dawson, Texas. He attended Dawson ISD for primary and secondary school and graduated from Dawson High School in 2002 as Valedictorian of his class. Casey moved to Waco, Texas in 2002 to attend Baylor University. Casey earned Magna Cum Laude honors at
- [Kevin Hixson, CFP®](https://fmpwa.com/bio/kevin-hixson-cfp/) - A native of Lake Charles, Louisiana, Kevin majored in financial planning and minored in insurance at Baylor University, where he earned a Bachelor of Business Administration degree in 1989. Later that year, Kevin and his wife Sandra moved to Austin, Texas, so Kevin could join FMP. In 1991, Kevin obtained his Certified Financial Planner™ (CFP®)
- [John Hixson, CFP®](https://fmpwa.com/bio/john-hixson-cfp/) - A native of Lake Charles, Louisiana, John graduated from Baylor University with a bachelor of business administration degree in 1983 and earned a masters degree with a concentration in financial planning from Georgia State University in 1984. After graduation, he worked with Magnolia Financial Corporation, whose business included the acquisition and operation of insurance companies

## Locations

- [Lake Charles](https://fmpwa.com/location/lake-charles/)
- [Austin](https://fmpwa.com/location/austin/)

## Categories

- [Personal Finance](https://fmpwa.com/category/personal-finances/)
- [Financial Services](https://fmpwa.com/category/financial-services/)
- [Retirement](https://fmpwa.com/category/retirement/)
- [Investments](https://fmpwa.com/category/investments/)
- [Taxation](https://fmpwa.com/category/taxation/)
- [Relationship Finances](https://fmpwa.com/category/relationship-finances/)
- [FMP News](https://fmpwa.com/category/fmp-news/)

## Portfolio Category

- [Adviser](https://fmpwa.com/portfolio_category/adviser/)
- [Planning](https://fmpwa.com/portfolio_category/planning/)
- [Client Service](https://fmpwa.com/portfolio_category/client-service/)
- [Investment Management](https://fmpwa.com/portfolio_category/investment-management/)