Non-Financial Reasons to Retire
When many of us think about retiring, we often start with whether we’re financially ready and how old we are. We may also evaluate when Medicare will kick in. While these factors are important to a comfortable retirement, there are a number of other reasons to consider starting the next phase of your life. This […]
Annual Insurance Review
Many of you know that there are two overarching principles in building your wealth. The first is investment and growth and the second is protection of your assets. Insurance comes into play to achieve protection. Because of its importance, an annual insurance review is highly advisable. Things change in life like marriage, divorce, a new […]
After-Tax 401(k) vs Roth 401(k) Contributions
You probably already know this, but as a reminder a 401(k) is a retirement savings plan offered by many employers that allows you to save and invest a portion of your paycheck before or after taxes, depending on the type of account you choose. (To avoid any confusion, there are also traditional and Roth IRAs […]
Family Loans or Gifts
Whether you decide to help a family member (or a friend) with a loan or a gift, it can be tricky. This month we’ll provide some information to help you decide whether to make a family loan, gift or to do nothing at all. Sometimes, it’s just best to do nothing at all. For example, […]
Financial Literacy Month
April is Financial Literacy Month. Financial literacy is the ability to understand and manage personal finances effectively. It involves skills such as budgeting, saving, investing and making informed financial decisions. Strong financial literacy helps individuals achieve financial stability and long-term security. While there are many aspects to financial literacy, many people think that the following […]
Tax Filing 2024
The deadline for filing your 2024 taxes is just 6 weeks away – April 15, 2025. Most of us don’t look forward to this, but this month I’ll offer a few tips to help you get organized and hopefully reduce the pain. First of all, you can easily extend this deadline to October 15, 2025 […]
National Caregivers Day – February 21, 2025
National Caregivers Day is observed to recognize and honor the dedication and hard work of the approximately 53 million caregivers who provide essential support to individuals in need of care due to aging, illness or disability. These caregivers may include professional caregivers, family members or friends who offer physical, emotional and practical care. In the […]
Individual Bonds versus Bond Funds
You probably know that bonds are fixed-income securities where you loan some money to an entity for a specified interest rate and period of time. Here are the types of bonds you can choose from: Government: Government bonds are considered safest, since a government can always “print more money” to pay its debt. In the […]
2025 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 2025. The information that follows was gathered from the IRS and other relevant government agencies. Social Security Social Security payments will increase 2.5% in 2025. 401(k) I view 401(k) plans […]
How Much Should I Save Each Month?
How much to save is such an important question and it can vary quite a bit depending on your age and goals. Nonetheless, there are some rules of thumb that many professionals recommend. This month we’ll take a look at some of them. A widely accepted strategy is the 50/30/20 rule. It simply states that […]