For years it was assumed that tax planning was reserved for the wealthy, but with the changes and complexity of tax laws, that's no longer true. With today's different tax and savings strategies, even middle-income earners can reap the benefits of tax planning. Here are some basics to be aware of: Basic tax planning starts with your AGI or Adjusted Gross Income. This is your total income after any adjustments have been applied. Reducing your...
What was the last money mistake you made? If you’re like most folks, you’ve made at least one upsetting money mistake in the past year — and you’d like to do better. In fact, most folks admit their finances have not gotten better over the past year. And at least half of them say the real problem is that their money mistakes have turned into bad financial habits.
In a perfect world, every money decision we make would be totally rational. We’d consider all of the facts. Then, we’d balance them with the risks to make the most logical choice available. 1 That sounds simple. Yet it doesn’t happen as much as it should in the real world. 1, 2 That’s because many of us aren’t relying on logic and the facts to make financial decisions—and we probably don’t even realize it. 2...
Smart investing doesn’t happen in a vacuum. Current events matter, and this year, the 2024 Presidential Elections are taking center stage. That’s rattling a lot of us, causing more election stress than ever before.1 It’s also raising a lot of questions about investing in election years, how to respond to market uncertainty, and what money moves truly make sense. Here’s a handful of key factors to keep in mind when you’re investing in an election year.
Smart investing doesn’t happen in a vacuum. Current events matter, and this year, the 2024 Presidential Elections are taking center stage. That’s rattling a lot of us, causing more election stress than ever before. 1 It’s also raising a lot of questions about investing in election years, how to respond to market uncertainty, and what money moves truly make sense. Here’s a handful of key factors to keep in mind when you’re investing in an...
If you’re five to 10 years away from retirement, it’s time to start getting specific about your plans after exiting your career.
A recent article in the New York Times highlighted a growing issue in America: more and more Americans need some form of long-term care, and few have insurance to cover the expenses. Even those who purchased Long-Term Care Insurance may find that it falls short of their expenses or doesn't cover the type of care they desire: Why Long-Term Care Insurance Falls Short for So Many. It’s daunting (and frankly, depressing) to think about the...
Although opening an online investment account has become pretty easy, there are still various reasons to work with a professional. For some people, a do-it-yourself approach is fine, while others would benefit from working with an advisor.
Taxes are complicated, and most people don't fully understand how they work. Here are a few common misconceptions, explained.
Since the Tax Cuts and Jobs Act lowered the marginal tax bracket for many Americans, Roth Conversions have become very popular. Now, in 2022, we're facing a bear market in addition to historically low tax rates. Depending on your personal situation, these factors might make it an ideal time to convert some of your pre-tax retirement savings into Roth dollars.
How does the stock market work, why is it down, and should I invest or get out right now?
During the pandemic, the real estate market changed drastically. Home prices in particular increased drastically, but the quick increase in interest rates in 2022 have led to yet more shifts in the market. We spoke with some local experts to determine what’s going on with the real estate market now, and what they see for the near future.
