Bank fees, late fees, credit card fees, investment fees. There are a lot of fees in life. Some of them are pretty straightforward, and others are harder to decipher. Fees aren't necessarily a bad thing; they're a form of compensation in some cases. But the lack of understanding around fees can cost you unnecessarily. So let's talk about financial advisor fees.
Within your financial plan is your retirement plan, and inside that, your long-term care plan. There are various ways to approach long-term care planning, we'll go over your options.
Just before the new year, President Biden signed the omnibus spending bill into law. Within the bill is the SECURE Act 2.0 (Securing a Strong Retirement Act), which is aimed at making it easier to save for retirement. While the law was signed at the tail end of 2022, many provisions won't go into effect until 2024. These are 9 key takeaways from the SECURE Act.
Tax-advantaged accounts have annual contribution limits. In some years, the IRS increases those limits, and for some accounts, an additional contribution is allowed for those over a certain age. We'll take a look at the contribution limits for 2023.
When it comes to investing, there are a number of things that can hurt our portfolio, pandemics, wars, recessions, bubbles bursting, and natural disasters, just to name a few. And as scary as those things are, the factor that can most adversely impact our portfolios is us. That’s why taking the emotion out of investing is so critical to being a successful investor.
We all know how important investing for our retirement is, but many people don’t want to take a hands-on approach. Target date funds can be the solution; they allow you to take a set it and forget it approach to retirement investing.
Have you ever tried to drive to an unfamiliar destination without a map? Well, okay, a GPS these days! What would happen if you did? You’d very likely get lost. You’d drive in circles, backtrack, waste time, gas, and money. The same can happen when you don’t have a financial plan.
There are many great things about being self-employed; you’re the boss, you have flexibility, and often more job satisfaction than those who work for someone else. There are downsides, too; the buck stops with you, you likely work more hours than if you worked for someone else, and you don’t have a pension or access to an employer-sponsored 401(k).
There are hundreds of personal finance books, podcasts, and documentaries available, so many that no one could read, listen, or watch them all.
The best 401(k) strategy is the one that fits best with your overall retirement strategy. Choosing the wrong option can throw your carefully created plan out of balance. If you have questions, we are here to help.
Jason discusses the benefits of working with a group of advisors.
2020 has been a wild ride, full of surprises, most of them bad. And as we’re less than two months out from what may be the most divisive presidential election in American history, it will probably get even wilder.
There is no way to overstate the importance of early investing. The longer your money is invested, the more time the magic that is compounding interest is able work in your favor.
Your money and your health are two of the most important things in your life and they influence every aspect of your life. Women have the health part down. We think about health more than men and do more about it. We are more likely than men to have health insurance and a regular source of health care.
Things have been scary in recent months. While it might be starting to settle down, there is still a lot of uncertainty. And one thing the market, to say nothing of investors, hates is uncertainty.
We humans are not the most rational creatures when it comes to many areas of our lives and our finances are one of them. We make decisions based on emotions and that can be a dangerous thing, particularly when it comes to money and investing.
