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Category: Financial Health

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Categorized as 401(k) Mistakes, Financial Health

Investing More in Your 401(k) May Help You Beat Inflation

To achieve retirement savings goals, it is crucial to not only protect your savings, but also ensure they grow at a rate that outpaces inflation. With inflation eroding our purchasing power and hard-earned money, many investors are wondering what this means for their 401(k)s. The good news is, a powerful tool that may help you… Continue reading Investing More in Your 401(k) May Help You Beat Inflation

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Categorized as 401(k) Mistakes, Financial Health, Retirement Savings

The Real Impact of 401(k) Hardship Withdrawals

While data shows more people are saving for the future, others are putting their financial futures at risk by taking 401(k) hardship withdrawals. 401(k) hardship withdrawals should be a last resort, but people are playing fast and loose with their retirement savings, as shown by recent reports from Vanguard, Bank of America, and Fidelity. According… Continue reading The Real Impact of 401(k) Hardship Withdrawals

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Categorized as Financial Health, Retirement Savings, Retirement Tips

IRS Delays Certain RMD Rules: What You Need to Know

The Secure Act 2.0 brought about numerous changes to how we save for retirement, including when investors need to start taking required minimum distributions (RMDs). However, the IRS is making RMD changes yet again – this time delaying certain rules in order to provide a smoother transition not only for plan administrators, but also for… Continue reading IRS Delays Certain RMD Rules: What You Need to Know

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Categorized as Financial Health, Retirement Savings

Navigating the Market Right Now [Video Interview]

Let’s face it. There’s a lot going on with the economy, the Fed, and the markets.  It doesn’t help that in this 24/7 newscycle world we live in that the media sensationalizes headlines that cause panic and fear in investors.  If you’re feeling doom and gloom or uneasy about your investments, it’s helpful to zoom… Continue reading Navigating the Market Right Now [Video Interview]

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Categorized as Financial Health

12 Tips for Dealing with Hidden School Costs

Back-to-school shopping is in full swing. Have you made space in your back-to-school shopping budget for hidden school costs? Recently, the following Facebook post went viral. According to the 2023 Deloitte back-to-school survey, parents are expected to spend $597 per child on back-to-school shopping.¹ One reason it is so expensive is that the prices of… Continue reading 12 Tips for Dealing with Hidden School Costs

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Categorized as Financial Health

How to Deal with Financial Stress of Taking Care of Kids and Parents

The financial stress of taking care of kids and parents should not be glossed over or ignored. Parents typically feel financial stress, with new reports suggesting it costs a middle-class family with two children $310,605 to raise children from birth to age 17.¹ This is generally broken down into the following percentages: 32% to housing… Continue reading How to Deal with Financial Stress of Taking Care of Kids and Parents

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Categorized as Financial Health

Should You Talk to Kids about Money Problems? Yes. Here’s How.

Parents strive to protect their children, and this often means hiding family financial issues. But should you talk to kids about money problems? The answer is YES. Shielding them may actually be doing more harm than good.  Consider these results from two important studies: “In 2010, the American Psychological Association (APA) found that during the… Continue reading Should You Talk to Kids about Money Problems? Yes. Here’s How.