Income

Can I make withdrawals from my retirement funds to pay for COVID-19 related expenses? Yes, if your plan allows, you can withdraw up to $100,000 without paying a penalty if you make your withdrawal between January 1 to December 31, 2020. Who is eligible to make COVID-19 related withdrawals? You, your spouse or dependent must […]

Feeling charitable? Learn how to give smart. Save More The more you save, the more money you’ll have to add to your 401(k) contributions, pay off debt, take vacations or buy a car in the future. There are countless ways to save and it is beyond rewarding when you watch your money grow. Tighten Your Budget A […]

So how will the SECURE Act effect your retirement savings? Below are a few of the major provisions and how they might affect you. Don’t Miss: Retirement planning is more than saving No Age Restrictions on IRA Contributions Currently, contributions to a traditional IRA are not allowed if you are a working taxpayer over the age […]

Don’t miss: How do I know how much I’m spending You don’t have to match the gifts others give you. Your friends and family do not want you to go into debt for you to get them a fancy gift. If you are purchasing gifts for multiple friends, narrow your list down. “Naughty vs Nice”, […]

Don’t miss: Staying proactive with your finances First, consider whether your household will consist of either one or two incomes. Will that change at some point? This will have a great impact on your budget, which in turn will affect your lifestyle. Secondly, lay any large debts on the table. Credit cards, student loans, auto financing […]

As a consumer and an investor, you want to have access to credit as you build and grow your portfolio. Sometimes borrowing makes sense because you can accomplish more objectives faster. If you didn’t borrow, and you saved to buy a house, you could do it, but it would take you a long time. Debt […]

Do your bank deposits still earn next to nothing? They shouldn’t be, and you don’t have to take it anymore. I know that banks haven’t paid much in interest since the last financial crisis, but times have changed. Your accounts should be yielding something closer to 2%, and if they aren’t, you may want to switch banks. […]

Not only has 2019 brought us IPOs, but it has delivered some exceptional private companies. Even more companies are expected to be publicly traded in the marketplace as well. In the first 3 quarters of 2018 we had 1,793 IPOs that raised $45.7 billion which is 46% more then 2017. That is three times more […]

The unexpected You may have already jotted down what you think your retirement budget might be. Yet, most people don’t include unexpected items such as repairs, replacements and maintenance for your house or car that could greatly impact your long-term financial projections, so be sure to consider these costs. Inflation If we have a 3% […]

Borrowing Credit card debt aside, one of the challenges navigating your personal finances year over year is learning how to balance when to borrow versus when to save because debt isn’t always all that bad if it’s done properly. The first area outside of credit card debt you want to address is your mortgage. Tax incentives […]