What exactly is dollar-cost averaging? And how can reverse dollar-cost averaging be risky to those who live on a fixed income?
Thinking about where to invest your money can be overwhelming and confusing, especially for those who are unfamiliar with all options for investing. If you’d like to take advantage of the ease of stock trading with the diversification of mutual funds, exchange-traded funds (ETFs) can potentially give you the best of both worlds. Here are some key things to know about ETFs before investing. ETF Basics Exchange-traded funds are baskets of securities—stocks, bonds, commodities or...
Car ownership is necessary for many of us to get around, especially for those who live far from public transportation. While you may choose to drive something practical for your everyday commute, errands and travel, you probably have dreams of driving a car that’s fun, sporty and luxurious. Owning an expensive luxury or exotic vehicle may seem out of reach, but there are financial options available to make your dream a reality. Here are some...
If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other. But retirement is a decision that should be carefully thought out. Here are some things to consider when deciding whether to retire at the same time as...
No matter how you invest, you may have biases that are impacting your decisions. Are you affected by one of these common biases?
If you have a child graduating from high school or college and entering the workforce, they may have the opportunity to open up a 401(k) through their new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage. While it sounds like a no-brainer to take advantage of these benefits early,many younger employees do not participate in their employer's 401(k) plan. It’s essential to teach your children the...
Funding a child’s or grandchild’s education costs is a noble goal. Whether you’re paying tuition costs now or saving for the future, it’s important to determine if your education strategy is compatible with achieving your retirement income and related financial objectives. Tax considerations and retirement income needs must be carefully weighed and evaluated before choosing a specific strategy. It’s important to remember that while education expenses can be funded through borrowing, retirement expenses cannot.
Protecting yourself, your loved ones, your home or your business against unexpected events is a fundamental aspect of wealth planning. Adequate planning now can help prevent a lifetime of assets from falling short when you need them most.
Following a solid tax planning strategy throughout the year is an integral part of any financial plan, but there are special considerations to make as the year comes to a close that can help maximize your refund or minimize your liability. Are you taking advantage of the following tax-saving strategies with your return? Maximize Retirement Contributions to Traditional IRAs Far too many taxpayers fail to take advantage of their annual retirement contribution limits and miss...
You’re probably aware that there are many options for retirement planning including 401(k)s, IRAs, Roth IRAs, and more. Some of the more common plans are employer-sponsored ones like 401(k)s, 403(b)s, and 457(b)s. These arrangements have higher contribution limits and let employees save for retirement on a post-tax or a tax-deferred basis, which is more typical. However, as individuals move from job to job or employer to employer, they are faced with decisions about what to...
Intro By now, there’s a good chance that the recent market downturn resulting from the COVID-19 pandemic has left you questioning your investment strategy. In fact, there’s a good chance that you lost a good chunk of change during the rapid sell-offs in early-mid March. But now that the sudden onset of this downturn has passed, it’s time to thoughtfully reevaluate your investing plans in the wake of COVID-19. Don’t Panic Before making plans to...
