...When we asked participants about the ease associated with using their top rule, we found negative correlations between how difficult they perceived practicing the rule to be and their financial well-being. In other words, the easier it was for a person to make these decisions, the more financially well-off they were...
...These seven strategies will help keep you on the ball for this tax season and in preparing for the future... (Ed. note - speak to us if any/all apply to you as these recommendations are general, not specific to you)
...“There’s a big difference between probability and outcome. Probable things fail to happen—and improbable things happen—all the time.” That’s one of the most important things you can know about investment risk...
...The beginning of a new year is a great time to reflect on past achievements and set new aspirations. It’s also an opportunity to determine whether you’re on track with your financial goals and revise them as needed...
...6 Secrets to Make You a Smarter Investor...
...Even if you used non-HSA assets to cover your healthcare expenses and leave your HSA money undisturbed until age 65, you could pull the money out tax-free for any reason, provided you've saved your receipts for the healthcare expenses you covered out of pocket in the years before that...
...If your goal is to look out for your loved ones, consider tackling these estate-planning additional jobs...
...Excavation and organization isn’t sexy or glamorous. But it can be liberating. It can be freeing. Once you’ve put in the work on cleaning things up (and admittedly that can take some time!), you’ll be able to focus on the things that really matter to you...
...individuals who have both the means and desire can ‘overfund’ one or more 529 plan accounts (either by making periodic contributions over many years or by a large lump sum contribution), effectively creating a “Dynasty 529 Plan”, which can be used to pay for qualified education expenses of not only their children and grandchildren (or any number of qualified members in their extended family), but potentially for multiple generations of family members to come...
...A simple way to dig deeper into the underlying reason for your financial goals is by peeling back the layers and asking yourself “why?” three times...
...No matter the market conditions, there are always messages from the media or the investing community that a market event, such as an extreme drop or increase, was foreseen, perhaps even obvious. If you begin to believe you’ve missed opportunities or you’re at risk for losses, you might attempt to overcorrect by trying to time the markets or weighting your portfolio too heavily in one area...
Presidential election years bring a lot of uncertainty and stress. And that's not just for the candidates who are running...
...Each year, the IRS compiles a list of common tax scams of which Americans should be aware, especially during tax season. See below for a list of the IRS’ 12 tax scams to avoid...
...We all know that prices typically go up over time: that's called inflation. But does everything get more expensive over time?...
...Against this challenging backdrop, new grads in your life will almost certainly benefit from any efforts to help them begin the rest of their lives on solid financial footing...
...Before you invest your money by paying your own costs or footing the bill for a loved one to attend a particular college, understand that the responsibility for doing research and asking questions is on you...
...First, don’t wait to ask for more money if you truly need it. There is no telling what may happen to aid budgets in the coming months, given a likely deluge of families seeking relief from financial pain...
...Health Savings Accounts (HSAs) offer a further incentive for HDHP enrollment, as they provide a very attractive ‘triple-tax’ set of potential benefits...
...Specifically, the GPO rule applies to individuals who meet three criteria: 1) worked at a federal, state or local government job where they did not pay Social Security taxes; 2) qualified for a pension from that job (that did not pay into Social Security); and 3) are eligible to receive spousal or survivor’s benefits from a spouse who did work in a job covered by Social Security...
...These three maneuvers will tend to deliver a higher tax benefit than writing a check and deducting it, and may even improve your portfolio...
