- New Law Allows Tax-Free 529 Rollovers to Roth IRAs
Using a 529 plan to save for a child’s education comes with a lot of advantages. All earnings generated by the after-tax investments are tax-free for qualified educational expenses, multiple plans are available in each state, contribution limits are high,… read more…
- How to Become a Millionaire
One of the longstanding American dreams is to become a millionaire, even if that doesn’t mean what it used to, but how do you go about it? The median lifetime earnings for all workers is $1.7 million, according to research… read more…
- Financial Planning for Couples
Managing the finances of two people is significantly more complicated than doing the same job for a singleton. Couples planning their financial lives often have more concerns, more accounts and more documents as part of their plans compared to two… read more…
- How Do You Know If You Are Rich?
Openly discussing the topic can be uncomfortable. But you’ve probably wondered who can be considered truly rich and whether you fit that definition (or ever will). According to Schwab’s 2022 Modern Wealth Survey, the average American thinks being rich means… read more…
- How Much Should I Save Each Month?
If you’re establishing a budget, you need to figure out how much you should stash away. There are a few popular strategies you can use to determine how much to save per month. Let’s break down how much you should… read more…
- The SECURE 2.0 Act & Student Loan Matching: What Is It and Who Qualifies?
The SECURE 2.0 Act has opened a new door for burdened student loan borrowers by offering a side door to achieving loan payoff and making crucial retirement contributions as soon as possible. But many are still left confused about this… read more…
- Ask an Advisor: What Documents Should I Bring to My First Meeting With a Financial Advisor?
For our initial consultation with a financial planner, they are asking for documents that include mortgage debt and the worth of all our real estate. When I call and speak to my mortgage company, what kind of information do I… read more…
- Ask an Advisor: Should I Roll Over a Workplace Retirement Plan Such as a 401(k) to an IRA While the Market Is Down?
Should I roll over a retirement account, such as a 401(k), 403(b) or 457(b), into an individual retirement account (IRA) when the market is still down? Should we wait until the market comes back up to its previous levels? -Anonymous… read more…
- Everything You Ever Wanted to Know About Real Estate Investing
There are myriad investment options available to Americans looking to save for their future — stocks, bonds, mutual funds and exchange-traded funds (ETFs) are some of the most common choices. One investment possibility that some people forget about, though, is… read more…
- Money Left in your Flexible Spending Account? You May Not Be Losing It on Dec. 31
Workers will forfeit as much as $1 billion from their healthcare Flexible Spending Accounts during 2022 because they didn’t use that money before the end of the year. But before you panic and head out on a medical buying spree,… read more…
- Doing a Roth Rollover? Beware the 5-Year Rule
The Roth IRA has been called “the Swiss Army knife” of personal finance because of its flexibility and the tax-free status of its earnings. That’s the reason so many retiring workers move to roll their workplace 401(k) accounts into a… read more…
- Ask an Advisor: My Investments Are ‘Dwindling Away Slowly.’ Should We Flee to Cash?
My wife and I currently have roughly $250,000, with half in our Roth individual retirement account (IRA) and a few small annuities, and the other half in various checking accounts and a money market account. We are both retired, have… read more…
- Does Inflation Cause a Recession?
Inflation and recession have become the two watchwords for economics in 2022. Over the past year, major economies have experienced some of the highest rates of inflation in decades. Inflation in the U.S. economy alone is the highest it’s been since… read more…
- What Are Brokerage Fees?
So you’re starting your investment journey and are researching brokerage accounts. It should be no surprise that brokers charge fees for their services. Let’s break down different types of brokerage fees and how they impact your investing. A financial advisor… read more…
- Use the Holidays to Help Older Relatives Identify and Avoid Elder Financial Abuse
The holidays are a time when relatives get a chance to reconnect, especially after the disruptions that the COVID-19 pandemic created during the past two years. Family members visiting elderly relatives can use the occasion to make sure that parents,… read more…
- What Is a Bank Run?
Bank runs occur when many individual account holders withdraw large sums of money at the same time out of fear that the bank might fail. Here’s how bank runs works. To ensure you’re keeping your money in a secure institution,… read more…
- Who Is Responsible for Debt After a Divorce?
Divorce is always complicated – emotionally and financially. While a lot of the focus in a divorce goes to dividing assets, figuring out who is responsible for various debts can be just as important. Generally, after a divorce is final,… read more…
- Ask an Advisor: Help Me Understand the Math. How Does Donating to Charity Reduce My Taxes?
If I give $50,000 in cash to a charity, does that lower my taxable adjusted gross income (AGI) by $50,000? So if my adjusted gross income was $100,000, and I gave $50,000 to charity, is my taxable income now $50,000?… read more…
- How a Divorce from a Common Law Marriage Works
A common law marriage doesn’t involve a marriage license, but it’s treated similarly to a traditional marriage in states that recognize this sort of union. Partners in a common law marriage, have rights and responsibilities similar to other married couples.… read more…
- Divorce Planning Checklist: How to Prepare
Divorce is difficult, regardless of the circumstances. To get through this hard time, it can help to focus on concrete solutions. That’s where a divorce checklist comes in. A divorce checklist can offer a sense of clarity and direction when… read more…
- How to Buy a House While Getting a Divorce
It’s an understatement to say that divorce complicates things. Not only can it take an emotional toll, but a financial one too. With everything going on, you also may have to find a new place to live. But how do… read more…
- There’s a Silver-Lining to the Beating Your Portfolio Took: Tax-Loss Harvesting
If you’re one of the more than 24 million new investors who’ve jumped into stocks since 2016, you’ve never seen a down market except for 2018, when stocks were off a mere 6%. For this year, stocks are off more… read more…
- Everything You Need to Know About This Hot Investment That Can Generate Guaranteed Retirement Income
When planning for retirement, there are myriad options for how to invest. The most common option is to use a retirement account — either a workplace plan like a 401(k) or one you get through a financial institution like an… read more…
- You Need to Know These Defensive Investing Strategies Beyond Bonds
So far this year, stocks are down with the Standard & Poor’s 500 off some 20% and the traditional alternative of bonds isn’t doing much better, with most big bond funds down more than 16% so far this year. What’s… read more…
- What Is a Letter of Credit and How Is it Used?
A letter of credit is a written document from a bank guaranteeing the seller of a product or service will be paid as long as the goods or services are provided, as specified. Letters of credit are widely used as… read more…