We’ve revisited some financial rules of thumb this month. Here are a few more bits of (maybe obvious) advice to achieve financial security. Simple portfolios work just fine. Investments don’t have to be complex or expensive to be good. A diversified portfolio can be achieved with 5 mutual funds or even one target date…
Did you know that there is such a thing as too much savings? It’s true! Some people over save in their emergency fund. Or even in retirement accounts. Not everyone is the chronic over-spender the media would have you believe. There should be a balance to saving for the future and enjoying your life today. …
Do you remember how when you started back to school, teachers would spend the first week or so reviewing things you learned last year? Probably to prime the pump for your brain to bring in the new information. In that spirit, September blogs are going to review some back-to-basic financial concepts. Some things you will…
Picking up from last week, this blog is not about predicting the economy. Even the definition of a recession is subject to debate. It’s always good to be ready for a recession, since we don’t know when the next one will hit. For those of you still working, the biggest risk is losing your job…
Super-fast blog today! If you are looking to generate regular payments out of your portfolio and find yourself in a quandary of what securities to sell, try this: Turn off the dividend/interest reinvestment feature in your mutual funds. Those distributions will go to cash and can build up your liquid position without selling shares. Caution: …
Welcome back. For those of you who have stuck with this series, you are rounding 3rd base! Almost through the quick tutorial to help decide what order to tap your savings for retirement. Withdrawal Method #3: Pro Rata. Take withdrawals each year proportionately from the 3 types of accounts. Example: Joe and Sue have 50%…
That’s right folks, our elected officials got something done in 2022 that has bearing on your everyday life. The passage of the SECURE Act 2.0 brings up some interesting planning opportunities for your finances. Since the name of my blog game is short-and-sweet, I’ll just hit a few highlights. Click on the article below for…
Yes, 2022 is quickly drawing to a close, but it’s not too late to help those non-profit organizations you love. Here are three quick tips for making the most of your charitable gifts for taxes. If you are age 70 ½ or older, you can take advantage of Qualified Charitable Distributions from your traditional IRA.…
Yep, your investments are down and so are your spirits. Those looking for a silver lining may be talking about tax loss harvesting. What does that even mean? Warning, if your money is all in retirement accounts (IRAs, Roth IRAs, 401(k)s, 403(b)s, this concept doesn’t apply. Tax loss harvesting is only for accounts where capital…
Maybe inflation isn’t all bad. Social Security checks are going up 8.7%, you can buy a 1-year CD earning 4.5% interest, and (for those who aren’t spending every last time on more expensive groceries) we are seeing a big jump in retirement contribution limits for 2023. To summarize: 401(k), 403(b), 457 plans: Under age…
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