Moving Forward Financially after the Loss of a Spouse The loss of a spouse can be a devastating, life-changing event. Due to longer life expectancies, women are more likely to face this situation. Becoming a widow at any age can be one of the most difficult challenges a woman must face. Not only is there…
Why do so many people never obtain the financial independence that they desire? Often it’s because they just don’t take that first step — getting started – investment planning. Besides procrastination, other excuses people make are that investing is too risky, too complicated, too time consuming, and only for the rich. The fact is, there’s…
Caring for your aging parents is something you hope you can handle when the time comes, but something you probably hope you never have to do. Caring for your aging parents means helping them plan for the future, and this can be overwhelming, both physically and emotionally. When the time comes for you to take…
The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax-free at the federal level, and some states also offer tax breaks to their residents. It’s important to evaluate the federal and state tax…
IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is $6,000 (or 100% of your earned income, if less), unchanged from 2019. The maximum catch-up contribution for those age 50 or older remains at $1,000. You can contribute to both a traditional IRA and a Roth…
In a perfect world, both halves of a couple share the same investment goals and agree on the best way to try to reach them. It doesn’t always work that way, though. Disagreements about money are often a source of friction between couples. You may be risk-averse, while your spouse may be comfortable investing more…
It’s that time of year again – back to school sales, bus drivers practicing their routes, and staff getting classrooms ready for their new students. These are the early reminders that the first day of school is just around the corner. With education on the mind, this time of year can also bring about questions…
The federal minimum wage (FMW), currently $7.25 per hour, hasn’t increased since 2009—the longest stretch with no federal increases since 1938, when the minimum wage was created. Several presidential candidates as well as proposed House Bill H.R. 582, Raise the Wage Act, would raise the FMW. What effect would a wage increase have on wage…
Portfolio Rebalancing Imagine you just bought a new car. You love how it looks and handles. You take it on long, beautiful drives together. When you take your car in to be serviced, you are asked if you want the tires rotated. You’re a bit baffled because the car seems to be handling just fine.…
When choosing an investment, there are a wide range of figures and numbers you can consider before making a decision. Things can get more complicated when you consider that you, other investors and professionals will put varying levels of emphasis on the factors each deems most important. There is no right or wrong to it.…