- Schwab’s 3 Ways to Prepare for a Likely Recession
On Wednesday Microsoft announced plans to lay off 10,000 workers. This is the latest in a series of large layoffs over the past several months that have made headlines, mostly concentrated in the technology and information sector of the economy.… read more…
- What Is Depreciation and How Is It Calculated?
Depreciation is a concept and a method that recognizes that some business assets become less valuable over time and provides a way to calculate and record the effects of this. Depreciation impacts a business’s income statements and balance sheets, smoothing… read more…
- Here’s a Surefire Trick to Get Your Tax Refund ASAP
There are 1.9 million individual tax returns that remain unprocessed for various reasons — from 2022 alone. This has always been a problem from an efficiency standpoint, especially since tax season has found its way back around and that number… read more…
- How to Save to Pay for Your Wedding
It may be impossible to buy love, but a fantastic wedding is easier had if you can pay for the basics. Unfortunately, rising costs of venues, food and other expenses mean couples might have challenges planning a wedding that meets… read more…
- Special Needs Trusts Vs. ABLE Accounts
Ensuring the long-term financial stability of a loved one with special needs can be an exceptionally confusing process. Public programs like Medicaid and Supplemental Security Income (SSI) will provide for them and pay for their services for the rest of… read more…
- Best Passive Income Apps
ePassive income can supplement the money you make from your job, compounding your finances and helping you build wealth more quickly. Or it can free up time in your schedule. On the other hand, it can chew up lots of your… read more…
- Are You Using the Golden Ratio of Finance?
There’s no shortage of budgeting and spending rules when it comes to personal finance. One says you shouldn’t spend more than 30% of your monthly income on housing. Another says to always save 10% of your income. Don’t take more… read more…
- Vanguard Says Workers Are Tapping Retirement Money Early, Recommends These Better Options
Workers are prematurely tapping their retirement savings, a sign that households are coming under increased financial pressure, a troubling development that’s likely to get worse if the U.S. economy falls into recession in the coming months. According to the recent… read more…
- Ask an Advisor: Should I Cash Out My Annuities?
I have a significant sum invested in several annuities. I would like to switch that money into index funds and pay taxes as the money is withdrawn. Is this recommended? How would I do this? -Vlad Transferring any amount of… read more…
- How to Retire in Japan: Costs, Visas and More
Japan is known for bullet trains, amazing cuisine and some of the cleanest, litter-free streets in the world. Overall, the nation is a beautiful place to both visit and live. In addition to its beautiful landscapes, there are plenty of… read more…
- What Is a Multi-Family Office?
A family office is a financial advisor firm that provides comprehensive wealth management services to a single individual or family. A multi-family office simply expands on the same concept. Instead of working with just one family or individual, a multi-family… read more…
- Ask an Advisor: We Are 70 Years Old, Have $99K in Retirement Income, a $1.4M IRA and Other Investments. Is It Too Late to Convert to a Roth?
My wife and I are 70 years old. We’ve paid off everything, including the house. Between my pension of $29,000 and Social Security, we’re getting a gross of $99,000 a year in income, which is more than enough. Our current… read more…
- What You Need to Know About the Estate Tax
As the old saying goes, nothing in life is guaranteed except death and taxes. And because estate taxes combine those two inevitabilities, it’s important to understand estate taxes in order to be financially prepared for what’s to come. As the… read more…
- Key Differences Between Rich and Wealthy People
Being rich and being wealthy are often seen as being the same thing. After all, people who are rich or wealthy tend to have more assets and greater financial freedom than the typical person. In reality, there are some major… read more…
- Why Your Portfolio’s Asset Allocation May Be Off
How much cash do you have in your portfolio? While conventional wisdom suggests limiting the size of your cash position, a recent study from Dalbar calls for holding enough cash and cash equivalents to cover five years’ worth of expenses.… read more…
- 4 Strategies for Avoiding Taxes on Your RMDs
Saving for retirement in a 401(k) at work or a traditional individual retirement account (IRA) can help you build wealth for the long term while enjoying some tax advantages. But you’re obligated to take taxable withdrawals from your retirement accounts… read more…
- This Mistake Is Costing You $1,400: But You Can Fix It
A recent study done across several different age groups throughout the country revealed a troubling finding about financial literacy among Americans. The study, which surveyed a total of 3,389 adults, showed that the average adult loses about $1,389.06 annually due to… read more…
- What Income Level Is Considered Rich?
Earning more money can make it easier to pay the bills, fund your financial goals and spend on hobbies or “fun,” but what income is considered to make you rich? The answer can depend on several factors, including where you… read more…
- Why It May Be Time to Turn to Value Investing
The era of easy money is coming to a close and value investing may be due for a comeback. The Federal Reserve on Wednesday announced its plan to cool off red hot inflation by curtailing monthly bond purchases by March… read more…
- New Law Allows Tax-Free 529 Rollovers to Roth IRAs
Using a 529 plan to save for a child’s education comes with a lot of advantages. All earnings generated by the after-tax investments are tax-free for qualified educational expenses, multiple plans are available in each state, contribution limits are high,… read more…
- How to Become a Millionaire
One of the longstanding American dreams is to become a millionaire, even if that doesn’t mean what it used to, but how do you go about it? The median lifetime earnings for all workers is $1.7 million, according to research… read more…
- Financial Planning for Couples
Managing the finances of two people is significantly more complicated than doing the same job for a singleton. Couples planning their financial lives often have more concerns, more accounts and more documents as part of their plans compared to two… read more…
- How Do You Know If You Are Rich?
Openly discussing the topic can be uncomfortable. But you’ve probably wondered who can be considered truly rich and whether you fit that definition (or ever will). According to Schwab’s 2022 Modern Wealth Survey, the average American thinks being rich means… read more…
- How Much Should I Save Each Month?
If you’re establishing a budget, you need to figure out how much you should stash away. There are a few popular strategies you can use to determine how much to save per month. Let’s break down how much you should… read more…
- The SECURE 2.0 Act & Student Loan Matching: What Is It and Who Qualifies?
The SECURE 2.0 Act has opened a new door for burdened student loan borrowers by offering a side door to achieving loan payoff and making crucial retirement contributions as soon as possible. But many are still left confused about this… read more…