Instead of gifting the hottest tech gadget that might make you everyone’s favorite parent, grandparent, or family friend, consider these financial gift ideas for the graduate in your life. #1 Individual Retirement Accounts (Roth IRAs) Give the gift of future financial stability with a Roth IRA. While this financial gift idea for graduates might not… Continue reading 5 Financial Gift Ideas for Graduates
Gas prices have recently gone up. And it won’t be long until other goods will start to rise in price. Between the economic effects of the pandemic and the stimulus packages, economic forecasts are all over the map. Before we dive in, we want to make it very clear that we are not predicting economic… Continue reading 15 Ways to Prepare for Economic Uncertainty
If you have income left over after paying taxes, it’s important to avoid common disposable income mistakes. However, there is a big difference between disposable income and discretionary income. Disposable income is your personal income minus your current personal taxes. For example, if you make $60,000 a year and pay 20% in federal, state, and… Continue reading 7 Disposable Income Mistakes to Avoid
It’s not uncommon for investors to change jobs and not know what to do with their 401(k) accounts, so they do nothing and leave it behind. Often, 401(k)s are left behind with old employers due to the misconception that the old employer is taking care of it for the former employee. This is not true.… Continue reading I Changed Jobs. What Should I Do with My 401(k) Account?
From funding your retirement accounts to making sure you’re on track to meet your 2021 financial goals, there’s a lot you can do in the second quarter to stay on course. Here are our top 10 financial tips for second quarter. #1 Review Your Goals, Budget, and Cash Flow Reviewing your 2021 financial goals quarterly… Continue reading 10 Financial Tips for Second Quarter
The day has come for your little one to leave the nest. But if you haven’t covered the most important financial lessons for young adults, they may end up flying back home. A lack of financial literacy and poor money management skills have left many parents paying for their adult children long after they leave… Continue reading 10 Financial Lessons for Young Adults Before They Leave the Nest
The Treasury Department and Internal Revenue Service announced on March 17 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. This extension applies to individual taxpayers, including those who pay self-employment tax. In addition, this extension is… Continue reading Important IRS Tax Deadline Changes for 2020 Taxes
It’s official. President Biden signed the American Rescue Plan Act of 2021 into law on March 11th, 2021, making the near $1.9 trillion stimulus package the largest injection of federal aid since the Great Depression.¹ While there’s a lot in this bill, key provisions include direct payments to Americans, expanded child tax credits, and healthcare… Continue reading The American Rescue Plan Act of 2021: What Investors Need to Know
There are important RMD changes for 2021 that every 401(k) investor needs to know about to avoid penalties. Required minimum distributions (RMDs) are IRS-mandated withdrawals from retirement accounts. The IRS requires these withdrawals to ensure that taxes are paid on amounts that were contributed on a pretax basis, plus any tax-deferred earnings in those accounts… Continue reading Important RMD Changes for 2021
When thinking about retirement, most people’s minds drift to a dream life involving no work, vacations, and finally getting to enjoy their favorite hobbies. However, several overlooked retirement expenses may prevent you from doing any of this during retirement. The disconnect between what people believe they need to attain their retirement lifestyle and what they… Continue reading 7 Overlooked Retirement Expenses When Planning
