- 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…
- Ask an Advisor: ‘I’m Strictly Into Bonds’ and Afraid of the Stock Market. Is This a Strategy I Should Stick With?
I’m afraid of the stock market. With my first investment, I lost 60% of my money. So I’m strictly into bonds. With interest rates low, what’s your advice? Should I stay or try something else? -Jerold It’s reasonable to be… read more…
- Should You Pay Off Student Loans or Invest?
Pay off student loans or invest? It’s an important question to consider as the answer can shape your financial future. On one hand, throwing all of your extra money at student loan debt can help you relieve that burden faster.… read more…
- Ask an Advisor: I Want to Roll Over My Money to a Roth IRA. How Do I Avoid Paying Taxes?
If I have a tax-deferred 401(k). Can I convert it to a Roth IRA without paying the deferred taxes when I roll it over? -Tommy Generally, the answer here is no. There’s typically no method to totally dodge taxes on… read more…
- Outrage Alert: Good Finances Could Hurt Your Mortgage Terms
On May 1, the federal government will change the fees that most borrowers pay as part of buying a new home. The changes will have a counter-intuitive result: many borrowers with lower credit scores paying less in fees when they… read more…
- Got a Tax refund? Avoid Making These Two Big Money Mistakes
Getting a tax refund feels like a welcome boon. At the very least, it seems like a nice cash reward for the estimated nine hours it takes the average individual taxpayer to wade through their W-2 and 1040 forms. And… read more…
- Can a Financial Advisor Help Make a Budget?
A financial advisor can assist with almost any aspect of a person’s financial life, including budgeting. Financial advisors provide an array of services, ranging from investment management to estate planning. Many people who work as financial advisors focus on specific… read more…
- How to Invest in CDs
While other investment and savings vehicles may get higher returns, few are as reliable as the certificate of deposit. CDs are traditionally safe, solid investments. Let’s take a look at common ways to invest in them and add them to… read more…
- Here’s What the Debt Ceiling Question Could Mean for You
As seems to happen every couple of years at this point, Capital Hill is abuzz with discussions of whether the U.S. will default on its debt. In fact, if the debt ceiling isn’t raised this summer — potentially as early… read more…
- Ask an Advisor: ‘Prove Me Wrong.’ I Think Investing in CDs Is a Better Deal Than Working With an Advisor
Why hire a financial advisor who will take around 1% percent of your assets per year when you can get a certificate of deposit (CD) at over 5% with no fee? That alone amounts to a 6% return on your… read more…
- Ask an Advisor: I Don’t Need Them ‘Dumped Into My Checking Account.’ What Can I Do With RMDs?
I am approaching the time when I’ll take required minimum distributions (RMDs) from my individual retirement account (IRA). I am in a quandary about what I can do with this anticipated largesse of cash. I do not necessarily need the… read more…
- This Just In: All Those Quiet Quitters Are Getting It Right
Remember the panic about “quiet quitting” in the fall of 2022? That’s when legions of fed-up, burned-out post-pandemic workers decided they weren’t going to leave their jobs but they also weren’t going above and beyond the prescribed duties of their… read more…