- How to Find a Socially Responsible Financial Advisor
Making social change is an admirable goal. And you can do so even if you can’t make a million-dollar donation to your favorite charity. If you’re looking for investment advice while you save for retirement, a socially responsible financial advisor… read more…
- You Can Now Get an Easy 5% Return on Your Cash With No Risk
As inflation and interest rates have increased, the rates paid on cash deposits have barely budged – until now. With inflation averaging more than 8% for 2022, the Federal Reserve increased interest rates several times, hiking the benchmark federal funds rate… read more…
- Ask an Advisor: Can a Single Financial Advising Firm Address ‘My Complete Spectrum of Financial Concerns?’
Can one individual or organization cover my complete spectrum of financial concerns, including investment diversification and maximum returns, income tax optimization, required minimum distribution (RMD) management, and steady income cash flow? Is there a good way to survey fiduciary candidates… read more…
- What Is Elder Law?
Elder law refers to legal issues that concern older adults, generally defined as people above the age of 65. It is often understood as an extension of traditional trust and estate law, but overlaps other legal specialties too. The growing… read more…
- How to Use (and Calculate) Debt-to-Income Ratio
Your debt-to-income ratio or DTI represents the amount of your income that goes to debt repayment each month. So why does that matter? For one thing, debt to income can be an important factor in determining whether you qualify for… read more…
- This Is the Asset Class You Want in Your Portfolio Over the Next 10 Years
Value stocks may be the one asset class you must have in your portfolio for the next decade. After a decade-plus of underperformance and decline, value investing began to rebound in September 2020. While the emergence of the Delta variant… read more…
- Ask an Advisor: ‘I Am Giving Away 25% of My Return.’ Why Does a Financial Advisor Earn a 1% Fee, Even in a Bear Market?
Why does a financial advisor get a fee of 1% or more? That seems really high. If my return is only 4% (for example, in dividends), I am giving away 25% of my return, which is even worse with a… read more…
- Martin Luther King Jr. As Financial Advisor: Here’s What He’d Recommend
While Dr. Martin Luther King Jr. is best known for his pioneering fight for civil rights and racial equality, he also promoted valuable practical wisdom about how to handle your money. Financial planning firm Facet has collected five of his top… read more…
- Morningstar Says You May Want to Avoid This Type of Stock
Like most of Wall Street, banking stocks took it on the chin in 2022. The KBW Nasdaq Bank Index, which tracks the stock performance of 24 large U.S. national money centers, regional banks and thrift institutions, fell 23.7% in 2022.… read more…
- How to Create a Set-It-And-Forget-It Portfolio
Investing can be a complex and stressful endeavor. The idea of constant monitoring, rebalancing and stock picking can be overwhelming (not to mention costly, if done incorrectly), especially for those new to investing. But what if there were a way… read more…
- SEC Issues Risk Alert: Here’s Why Your Broker Needs to Act in Your Best Interest
The Securities Exchange Commission (SEC) released a risk alert related to Regulation Best Interest (Reg BI) in order to highlight deficiencies noted during examinations conducted, as well as examples of weak practices that could result in deficiencies. This regulation generally provides that broker-dealers must… read more…
- How to Save Money on Low Income
Inflation and rising interest rates have made saving difficult, especially if you’re not in the top income bracket. Relentless monthly costs and unexpected expenses can put a hole in your budget and derail your savings efforts. And saving money on… read more…
- Older Workers Want Jobs to Be Remote and Flexible
Younger workers and their older compatriots on the job may have a lot of disagreements but in the new post-pandemic world of work there’s one thing they can agree on: work needs to be flexible, and it needs to be… read more…
- Should You Stop Believing in a ‘Safe’ Withdrawal Rate for Retirement? Even the 4% Rule Presents Risk
Is the idea of the “safe” withdrawal rate nothing more than the Tooth Fairy of the retirement planning industry – mere fiction? Some financial experts are calling the methods used to calculate safe withdrawal rates, including Monte Carlo analysis, into… read more…
- Are Financial Advisor Fees Negotiable?
When choosing a financial advisor, cost is an important consideration. After all, you want to make sure that you’re getting value in exchange for the fees you’re paying. If you’d like to keep costs as low as possible, you may… read more…
- Do Republicans Really Want to Get Rid of Social Security and Medicare?
President Joe Biden gave his 2023 State of the Union this week, and one of the most animated and contentious parts of the evening came when the President accused Republicans of wanting to end keystone federal programs like Social Security… read more…
- Marriage Dissolution vs. Divorce
If your marriage is coming to an end there are many important decisions that lie ahead. One of the biggest is deciding between a marriage dissolution or a divorce. Both dissolution and divorce are legal processes, and the outcome is exactly… read more…
- How Can A Trillion Dollar Coin Raise the Debt Ceiling?
In January, the Treasury ran out of revenue to continue paying the government’s bills. Ordinarily, when the Treasury needs to spend more money than it collects in taxes, it issues new bonds. However, as of last month it reached a… read more…
- Survivor Benefits for Children
When you hear about Social Security, retirement likely comes to mind. However, the Social Security Administration (SSA) every month disburses payments to millions of children with a parent who is deceased, disabled or retired. Survivor benefits are for children whose… read more…
- Ask an Advisor: ‘I’m Depending on That Money.’ How Can I Plan to Retire When Republicans Are Threatening to Cut Social Security?
How can I plan to retire fully when the Republicans are threatening to cut Social Security? I’m almost 73, still working part-time and I’ve paid into Social Security my entire life. I’m depending on that money! -Karen Social Security benefits… read more…
- New Legislation Now Allows For Roth Matching
The advantages of the after-tax Roth IRA and Roth 401(k) are well-established, but since Roth accounts first came into being in 1997, they’ve been off-limits to most investors saving in workplace retirement plans. Now, thanks to the recently signed Secure… read more…
- Here’s One Easy Way to Boost Your 401(k) By 8%
If you’ve looked at the investment options in your workplace 401(k) retirement plan, chances are you’ll see mutual funds that put your money into stocks, bonds or cash and cash equivalents. Those have been the options available ever since 401(k)… read more…
- Made Money With A Side Hustle Last Year? Uncle Sam is Coming for His Cut
Did you start side hustle last year? You’re self-employed. Even if you only made $0.01 and didn’t get a 1099. Financial advisors and tax professionals alike are here to help but there is growing confusion about who counts as self-employed… read more…
- When to Get a Financial Second Opinion
Working with a financial advisor can help you to gain clarity about your financial goals and what steps you should be taking to reach them. It’s possible, however, that you might have doubts about the advice you’re receiving. In that… read more…
- IRS Delays New $600 Reporting Rule for Gig Workers and Online Sellers to 2024: Here’s What You Need to Know
Here in the thick of tax season, those who earn money from freelance work and side-hustles may be wondering what obligations they have to report their income formally to the IRS. Well, in late December 2022, the IRS actually delayed… read more…