Personal Financial Calendar for 2024
As the New Year begins, it’s a great time to take note of important financial events that are coming this year. This will let you plan for them and avoid penalties and interest charges for missed payments. January Be sure you have signed up for your company’s 401(k) program – especially if your employer offers […]
2024 Tax Law Changes
As you make your plans for the coming year, it’s important to take note of the changes in contribution limits and other tax changes in 2024. The information that follows was gathered from the IRS and other relevant government agencies. Social Security Social Security payments will increase 3.2% in 2024. 401(k) I view 401(k) plans […]
Preparing for Retirement in 1-3 Years
Are you within a few years of retirement? If you are, this month’s article is for you! (It might also be useful for the younger folks so that you can determine what shape you’ll be in when you do approach retirement.) I’ve written a number of articles to help people prepare for retirement. It might […]
Working after Retirement
Lots of people are still working after the traditional retirement age. The Bureau of Labor Statistics states that the labor force participation rate in 2018 for those aged 65-69 was 33.0%, for age 70-74 was 19.5% and for those 75 and older was 8.7%. This month we’ll take a look at why so many people […]
Do You Need an Umbrella Insurance Policy?
There are two important aspects to wealth building. The first is investing so as to grow your assets. The second is to protect those assets through insurance and other means. For example, you probably have homeowners and auto insurance. These help protect your assets should you have a car wreck or if there is damage […]
Using Home Equity to Fund Long-Term Care
Have you thought about whether you might need long-term care as you get older? The Department of Health and Human Services has determined that 70% of adults who survive to age 65 will need long-term services and support before they die and that 48% of those people will receive some paid care over their lifetime. […]
The Rewards of Successful Planning
For many of us, financial planning can be difficult. Maybe we’re young and we want to have a good time now and worry about the future later. Maybe we’re older and can’t bear to see how far behind we are in saving for retirement. Maybe we feel constrained by plans and want the freedom to […]
Are You a Consumer or an Owner?
The difference between a consumer and an owner is probably fairly intuitive, but let’s use one example just to compare them. If you purchase stock in a company, you’re an owner. If you purchase that company’s products, you’re a consumer. Naturally, everyone is both a consumer and an owner. However, when it comes to building […]
Federal Deposit Insurance Corporation
Silicon Valley Bank (SVB) and Signature Bank are the two U.S. banks that failed in the last few weeks. Were the depositors at risk? Normally, if deposits were $250,000 or less per depositor, per insured bank, an independent government agency called the Federal Deposit Insurance Corporation ensures that depositors will promptly get all of their […]
Tax Refunds — Good or Bad?
Few of us can really say we enjoy filling out our tax forms each April. One bright spot in this process is if we have a refund coming rather than having to write Uncle Sam a check. This month we’ll take a look at whether tax refunds are really such a good thing after all. […]