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Is It a Bad Idea to Borrow from My 401(k) to Get a House?

“Should I borrow from my 401(k) to get a house?” is a question that comes up quite a bit, especially with first-time homebuyers. It’s understandable because it can be difficult for many first-time homebuyers to accumulate enough savings to make a down payment.  It’s standard for banks to require as much as 20% down, and… Continue reading Is It a Bad Idea to Borrow from My 401(k) to Get a House?

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Are You Saving Enough to Cover These Retirement Expenses?

When it comes to retirement planning, there is often a big discrepancy between how much money people think they need and how much they actually need. And so, year after year, investors fund their retirement accounts based on how much they can afford to save now, rather than really understanding how much they may need… Continue reading Are You Saving Enough to Cover These Retirement Expenses?

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Traditional 401(k)s Vs Roth 401(k)s: Which One Is Right for Me?

Planning for retirement may include choosing between traditional and Roth 401(k) plans. Unless you are a financial advisor or have spent a significant amount of time reading up on both, it may be difficult to understand the difference between a traditional 401(k) and a Roth 401(k). Not to worry. We’ve got you covered. Read on… Continue reading Traditional 401(k)s Vs Roth 401(k)s: Which One Is Right for Me?

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Reality Check: Why You Need to Talk to Your Child about Paying for College

School is starting around the country, which means millions of young adults will be paying for college. And college isn’t cheap. According to Fidelity Investment’s 2021 College Savings and Student Debt Study: For the 2020-2021 academic year, the average cost at a private, nonprofit 4-year college was $54,880. The average cost per year for a… Continue reading Reality Check: Why You Need to Talk to Your Child about Paying for College

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Will Personalized Professional Help Really Make a Difference in My 401(k) Performance?

Not taking full advantage of your 401(k) – whether it’s because you don’t understand it or you’re taking a set-it-and-forget-it approach – may have serious consequences at retirement.  If you’re concerned your 401(k) is not going in the direction you’d like or you want the potential for greater returns on your hard-earned money, personalized professional… Continue reading Will Personalized Professional Help Really Make a Difference in My 401(k) Performance?

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Should I Prioritize Retirement Savings over My Kids’ College Tuition?

As parents, we make it our goal to take care of our children, protect them from harm, and help them succeed. So, it is no surprise many parents are unsure if they should put their retirement savings over kids’ college tuition or vice versa. Especially when you consider the rising rates of college tuition. Consider… Continue reading Should I Prioritize Retirement Savings over My Kids’ College Tuition?

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Prepare for a Financial Emergency Using These 5 Simple Steps

While we all know the importance of preparing for a financial emergency, the truth is, most people are not prepared. According to Bankrate’s Financial Security Index, “Just four in 10 U.S. adults (41 percent) would cover the cost of a $1,000 car repair or emergency room visit using savings.”¹  The issue is many financial emergencies… Continue reading Prepare for a Financial Emergency Using These 5 Simple Steps

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11 Ways to Improve Financial Literacy

4 in 7 Americans are financially illiterate, according to Walden University – and that’s a serious problem.¹ Financial literacy is understanding financial concepts, including but not limited to budgeting, saving, paying off debt, and investing. Those who demonstrate financial literacy often find it easier to enjoy financial well-being. Not only do these individuals meet their… Continue reading 11 Ways to Improve Financial Literacy

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Why Cybersecurity Risks Are on the Rise and What to Do about It

As if the virus that took down the world in 2020 wasn’t enough, digital viruses suddenly rose with cybersecurity risks at an all-time high. According to Cybercrime Magazine, “If it were measured as a country, then cybercrime – which is predicted to inflict damages totaling $6 trillion USD globally in 2021 – would be the… Continue reading Why Cybersecurity Risks Are on the Rise and What to Do about It