Artificial intelligence has made work faster and more efficient—but it’s not ready to replace professional financial advice, yet. Here’s an example from a recent exchange with ChatGPT: Me: What are the 2025 contribution limits for employer plans? ChatGPT:403(b): $23,000 (plus $7,500 if age 50 or older)Governmental 457(b): $23,000 (plus $7,500 if age 50 or older)… Continue reading Smart Tools Still Need Human Judgment
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Yes, You Can Max Out a Roth IRA (Even If It Feels Out of Reach Today)
A Roth IRA is one of the most powerful retirement tools available. You contribute after-tax dollars, and your growth and withdrawals in retirement are tax-free, assuming you follow the rules. For many people under the income limits, the real obstacle isn’t eligibility. It’s cash flow. The good news is that with a little scrutiny, most… Continue reading Yes, You Can Max Out a Roth IRA (Even If It Feels Out of Reach Today)
401(k) Loans: A Double-Edged Sword
401(k) Loans: Why Borrowing from Yourself Isn’t Free Money Emergencies happen, and usually at the times we least expect. When you suddenly need a pool of money to cover an emergency (or maybe that remodel that you’ve been wanting), you might think to yourself, “Wait, I have a lot of money saved in my 401(k)…Can’t… Continue reading 401(k) Loans: A Double-Edged Sword
A Tool for Making the Medicare Decision
October 1 is fast approaching and throughout the nation, seniors are bracing their mailboxes for the added weight of all the Medicare plan advertisements that will fill their mailbox. Open enrollment, the time to evaluate and shop for Medicare plans, runs from October 15 – December 7. In preparation, insurance companies will be screaming at… Continue reading A Tool for Making the Medicare Decision
Will Bonds Finally Make A Comeback?
Fed rate cuts can be a game-changer for fixed-income mutual funds, and it’s all about that inverse relationship between interest rates and bond prices. Think back to late 2021 when the Fed started hiking rates to fight inflation; we saw bond funds take a hit as their values declined. But now, if the Fed starts… Continue reading Will Bonds Finally Make A Comeback?
It’s Draft Day—for Your Wallet, Too
If you can tinker with a roster on Tuesday night, you can tune up your finances once a week. Here’s your fun, football-flavored playbook to spend as much time on your money as you do on FF—without sacrificing a single meme in the league chat. The Fantasy-to-Finance Translator Draft Day = Budget DayYour budget is… Continue reading It’s Draft Day—for Your Wallet, Too
Why People Overspend Their Money—and How to Regain Control
Of the most common barriers to financial stability, overspending is likely a factor. Even with good intentions, many individuals find themselves with little savings or mounting debt. To change this pattern, it’s important to understand the root causes of overspending and learn strategies to prevent it. 1. Emotional Spending Many people overspend when they’re stressed,… Continue reading Why People Overspend Their Money—and How to Regain Control
Is the S&P 500 Still Diversified?
The S&P 500 has long been seen as a shorthand for diversification. After all, it holds 500 companies across different sectors—how much more diversified can you get? But dig a little deeper and the picture changes. Today, just a handful of the largest tech companies make up more than 30% of the index. That means… Continue reading Is the S&P 500 Still Diversified?
What Are Bonds and Should I Have Them?
Think of bonds as IOUs: you lend money to a company or government, and in return, they pay you interest (a “coupon”) regularly and return the original loan (principal) at a future date. Bonds come in many kinds—government, municipal, corporate, even zero-coupon bonds that pay no periodic interest but are issued at a discount to… Continue reading What Are Bonds and Should I Have Them?
Finding Those Sneaky College Expenses
You’ve reviewed the tuition statement, calculated the cost of housing, and even factored in a meal plan. But college costs don’t stop at the bill you get from your student’s university. For many families, it’s the unexpected expenses – the ones no one warned you about – that strain the budget and lead to awkward… Continue reading Finding Those Sneaky College Expenses
