- 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 I would like to switch that money into index funds and pay taxes as the money is withdrawn.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…
- Ask an Advisor: What Documents Should I Bring to My First Meeting With a Financial Advisor?
For our initial consultation with a financial planner, they are asking for documents that include mortgage debt and the worth of all our real estate. When I call and speak to my mortgage company, what kind of information do I… read more…
- Ask an Advisor: Should I Roll Over a Workplace Retirement Plan Such as a 401(k) to an IRA While the Market Is Down?
Should I roll over a retirement account, such as a 401(k), 403(b) or 457(b), into an individual retirement account (IRA) when the market is still down? Should we wait until the market comes back up to its previous levels? -Anonymous… read more…
- Everything You Ever Wanted to Know About Real Estate Investing
There are myriad investment options available to Americans looking to save for their future — stocks, bonds, mutual funds and exchange-traded funds (ETFs) are some of the most common choices. One investment possibility that some people forget about, though, is… read more…
- Money Left in your Flexible Spending Account? You May Not Be Losing It on Dec. 31
Workers will forfeit as much as $1 billion from their healthcare Flexible Spending Accounts during 2022 because they didn’t use that money before the end of the year. But before you panic and head out on a medical buying spree,… read more…
- Doing a Roth Rollover? Beware the 5-Year Rule
The Roth IRA has been called “the Swiss Army knife” of personal finance because of its flexibility and the tax-free status of its earnings. That’s the reason so many retiring workers move to roll their workplace 401(k) accounts into a… read more…
- Ask an Advisor: My Investments Are ‘Dwindling Away Slowly.’ Should We Flee to Cash?
My wife and I currently have roughly $250,000, with half in our Roth individual retirement account (IRA) and a few small annuities, and the other half in various checking accounts and a money market account. We are both retired, have… read more…
- Does Inflation Cause a Recession?
Inflation and recession have become the two watchwords for economics in 2022. Over the past year, major economies have experienced some of the highest rates of inflation in decades. Inflation in the U.S. economy alone is the highest it’s been since… read more…