When it comes to personal finance, the adage holds true: it’s all about time in the market, not timing the market. And what better way to set your kids on the path to financial security than by introducing them to the power of a custodial Roth IRA? Spring is a great opportunity to talk to… Continue reading Introducing Your Child to the Roth IRA: A Lesson in Long-Term Financial Growth
Article Categories: Articles
How Much Should I Plan for Medicare?
Sometimes retirement savers tend to think of 65 as the age that medical expenses drop off their annual expenses. Nothing could be further from the truth. While Medicare eligibility can dramatically reduce the costs for healthcare for a retiree, there remains a cost for Medicare that the retiree will have to pay. This message explained… Continue reading How Much Should I Plan for Medicare?
Show ’em love, Update Your Beneficiaries
One of the most important ways to plan your money forward is to keep your beneficiary elections up to date. Just like life insurance, retirement plans pass directly to the person or entity you’ve named on your beneficiary election. Here’s what you need to know: Your Spouse is Your Primary Beneficiary If you are married,… Continue reading Show ’em love, Update Your Beneficiaries
Five Tips to Improve Your Credit Score
Here are five tips to help your credit score recover: 1. Don’t Let Mistakes Haunt You The three major credit bureaus: Experian, Equifax and TransUnion, produce credit reports on consumers. These reports can contain errors, so it is important to make sure the information is accurate. Access your free credit report at annualcreditreport.com. If you… Continue reading Five Tips to Improve Your Credit Score
Weighed Down by Too Much Debt?
Beyond today’s high prices, consumers can be weighed down by too much debt, like a mortgage, an auto loan, student loans, or credit card balances. While not all debt is bad, especially if it’s on an appreciating asset like your home, too much debt is a risk that can lead to total financial failure. A… Continue reading Weighed Down by Too Much Debt?
Roth vs. Pre-Tax: Which is best for you?
When you look at your quarterly statement, you may wonder to yourself “Why I am contributing Pre-tax (or Roth)?” Perhaps you set your contribution years ago and have never thought about it since. Choosing between Roth and pretax contributions can be a pivotal decision in managing your retirement savings. Both options offer unique advantages and… Continue reading Roth vs. Pre-Tax: Which is best for you?
What is an Annuity?
Annuities are a financial tool of varying popularity designed to help individuals plan for their future by providing a stream of income immediately (immediate annuity) or in the future (deferred annuity). The mechanics of your typical deferred annuity involve two distinct phases: the accumulation phase and the distribution phase. An immediate annuity just skips the… Continue reading What is an Annuity?
Understanding Tax Documents 1099-NEC and W-2
As the January 31st deadline approaches, it’s essential for taxpayers to understand two crucial documents they might receive: the 1099-NEC and the W-2. These forms play a vital role in tax preparation, and understanding their differences and the information they contain is key to a smooth tax filing experience. The 1099-NEC is a tax form… Continue reading Understanding Tax Documents 1099-NEC and W-2
Escape the Money Trap: Break Old Habits and Crush Post-Holiday Debt Now!
For many of us, the holiday season has drawn to a close, and if you’re now facing the aftermath of those festive purchases, this is an ideal moment to sit down with your family and evaluate your expenses. According to USA today, the average holiday shopper was expected to spend $1,652 in 2023. Let’s redirect… Continue reading Escape the Money Trap: Break Old Habits and Crush Post-Holiday Debt Now!
Tax Planning Now Available!
Taxes – the necessary evil that accompanies adulthood. As April 15 looms large on the calendar, many of us scramble to gather receipts, W-2s, and other financial documents in a frenzied attempt to satisfy Uncle Sam and most wonder if they’ve withheld enough to score themselves a refund. However, there’s a smarter way to approach… Continue reading Tax Planning Now Available!
