- Ask an Advisor: Does a Financial Advisor Need to Look at My Entire Portfolio?
Is it possible to have someone advise me on only part of my portfolio and does that make sense? -Marda It really depends on both what you’re trying to achieve and what your financial advisor is willing to accommodate. In… read more…
- Ask an Advisor: How Much Money Can I Earn Working After Taking Social Security at Age 62?
How much am I able to earn from an employer if I opt to take my Social Security at age 62 next year? – Glenn To be very clear, you can earn as much money as you want while collecting… read more…
- Ask an Advisor: I Put $300 in My 457(b) Every Payday and Will Have an Extra $1,000 Per Month After Paying Off My Car. Should I Save or Invest the Money?
I’m 54, retired military and get $1,500 a month after taxes and medical deductions. I also have a 457(b) account for my current government job and I have been putting $300 into it each payday. I was paying $1,000 a… read more…
- Ask an Advisor: I’m 31, Make $80k Per Year and Have About $250k in Assets. Should I Switch to a Roth 401(k)?
My company provides both a traditional and Roth 401(k) option. My question is whether I should contribute to a traditional 401(k), Roth 401(k) or a mix of both. I am 31 years old, single and live in San Francisco. My… read more…
- Investor Panic: Potential Consequences of a U.S. Debt Default Revealed
Eight million is the sobering figure economists urge you to remember. If the U.S. were to default on its debt, the repercussions would be large: a staggering loss of more than 8 million jobs, accompanied by a protracted recession that could… read more…
- What the Tentative Debt Ceiling Deal Means For You
President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) reached a tentative agreement to raise the U.S. debt ceiling over the weekend, allowing a ray of hope to peek through the fiscal cloud that had been hanging over D.C. This… read more…
- Ask an Advisor: I’ve Heard About the Benefits of a Bond Ladder Strategy. What Are the Downsides?
A financial advisor told me the pros of building a two-part bond ladder (three-year Treasurys and 10-year corporates) to generate fixed income and cover required minimum distributions (RMDs). What are the cons? -Ken When used in the right circumstances and… read more…
- Ask An Advisor: I’m 65, Earning at My ‘Absolute Peak’ and Won’t Retire Soon. Should I Use My Roth IRA for a $30K Home Improvement Project?
I am 65 and at the absolute peak of my earnings. I’m also in the 35% tax bracket and am not looking to retire soon. I need $30,000 for a home project. I have enough to take it out of… read more…
- 7 Financial Planning Strategies for Single Women
If you’re a single woman, most general financial advice also applies to you — but with a twist. As the gender pay gap holds steady, you may need to be a little more vigilant to create an independent financial future. Here… read more…
- Alarming Number of Working Americans Cash Out Retirement Accounts When Changing Jobs
The very essence of a retirement nest egg lies in the concept of patient growth and compounding of investments over time. Its purpose is to offer a bountiful reserve of funds when one bids farewell to the workforce, ensuring a… read more…
- Ask an Advisor: Should a Financial Advisor Ask for My Risk Tolerance or Use Their Own ‘Proven’ Investment Strategy?
Should a financial advisor ask me for my risk tolerance, then invest accordingly? Or do they use their own proven strategy? -Chris This question sets up a false dichotomy. These risk-related investing considerations are not mutually exclusive. Many financial advisors… read more…
- Ask an Advisor: Can a Nursing Home ‘Take Our IRA?’ My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets.
My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into… read more…
- How to Find Financial Advisors for Tech Professionals
Every industry has its own financial needs. This is true whether you work in the service industry making most of your money off tips or as a surgeon making a lot of money without a W-2. It’s also true for tech… read more…
- Ask an Advisor: What Should I Do With My Retirement Accounts When I Retire?
When entering retirement, would it be best to transfer your pension fund and 401(k) from your employer account to your own personal individual retirement account (IRA), keeping them under one roof? -Randy There are a couple of things to be… read more…
- Ask an Advisor: Do I Need More Life Insurance? I’m 40, My Partner’s Disabled and I Can’t Rely on My Current Life Insurance Policies Forever
I’m currently 40, and my existing 20-year term policy for $250,000 will expire at age 53. I also have about $100,000 in coverage through my employer, which I would lose if I switched jobs. My partner is disabled, unable to… read more…
- How Does High-Net-Worth Lending Work?
If you’re going to the bank for a loan, you might think it would be easier as a millionaire. However, when it comes to high-net-worth lending, more money can mean more problems if the individual doesn’t have conventional income or… read more…
- Edward Jones: Millennials Are the Most Likely to Experience Financial Hardship
While no one is immune to financial hardships, new research from financial services firm Edward Jones suggests that perhaps those in the millennial generation are particularly vulnerable. In a survey of financial advisors, 43% of the experts polled said that… read more…
- Ask an Advisor: I Want to Give Money to My Son and Daughter-in-Law. How Much Money Can I Give Away Without ‘Incurring a Tax Issue With the IRS?’
How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can give your son and daughter-in-law each $17,000 without having to deal with the IRS. But even… read more…
- Ask an Advisor: Our Investment Portfolio Fell From $450K to $250K. Should I Cash in My Investments?
Our investments were $450,000 and are now $250,000. How much do I lose before I cash in investments? -Liz I’m sorry that you’ve experienced such a significant financial loss. I know that can be stressful and scary as you wonder whether… read more…
- Ask an Advisor: ‘Am I Too Late?’ I’m 68, Have No Investments and Only Have $60K Saved
At 68, I do not have any investments of any kind. My $80,000 condo is paid off, and I have $60,000 saved. Am I too late? -Bernhard It’s never too late to start investing and managing your money. But I… read more…
- Ask an Advisor: I’m in the Highest Tax Bracket and ‘Plan to Be There Moving Forward.’ Should I Do a Roth Conversion?
What are your thoughts on Roth conversions if you are in the highest tax bracket and plan to be there moving forward? -Joel If you ask some financial professionals, the answer to this question might be a resounding no, and… read more…
- The Fed Has Raised Rates Again and Sparked Recession Fears– Here’s What That Means For You
On Wednesday, May 3, the Federal Reserve raised interest rates for the tenth time since March, 2022, this time hiking rates by 0.25% or “25 basis points.” This brings the benchmark federal funds rate to between 5% and 5.25%, the… read more…
- Ask an Advisor: My Retirement Savings Were Wiped Out. How Can I Recoup My Recent Investment Losses This ‘Late in the Game?’
My retirement savings were wiped out in market changes over the last couple of years. I am planning on working for about five more years. What investment suggestions do you have this late in the game? – Daniel Sorry to… read more…
- Will First Republic’s Failure Affect You?
First Republic has failed. Now what? Banks tend to fail a little bit like restaurants. The lights are on and all is well one day; then someone has arrived with a clipboard to auction off assets the next. That’s more… read more…
- 10 Financial Planning Tips for Young Adults
Getting your financial footing can be a challenge when you’re young, especially if you have student loan payments or a new mortgage make you feel penniless. However, it’s never too early to start financial planning. By creating a budget, improving… read more…