The IRS has done it again. Taken an already unfortunate new rule about inheriting IRAs and made it even worse. To recap, if you inherited IRA/Roth IRA/Workplace Retirement Account money from someone who died in 2020 or after, the SECURE Act states that you must take that money out of the account within 10…
Ugh, September is one of those months with FIVE Thursdays. That’s a lot of blogs to write so I’m taking a breather this week and re-running a Blog from July 2022 about risk tolerance and stock market drops. The financial services industry has for years been collectively handwringing about how to measure clients’ real…
Calling all grumpy Boomers and Gen X-ers: Say what you want about Millennials, Gen Z, The Youth of Today, but in my experience, young adults have a lot of financial savvy. One thing I help 20-and-30-somethings with often is whether to sell that first house/condo they bought or keep it as a rental. At…
In a previous blog I mentioned attending the Investment News Women’s Advisor Summit. Here is another tidbit I learned. You can add a Designated Trusted Contact to your accounts and with your investment advisor. This isn’t the same level of legal ability or rigmarole as a Power of Attorney. No, it’s just a person…
In last week’s blog, I referenced a study that says more money = more retirement happiness up to $4,000,000. That seems like a huge goal, and truly, it’s not for everyone, but I thought I’d use that statistic to run some numbers. First, what does $4,000,000 mean in terms of retirement income? See the…
2021 Personal Finance Trends in Review Quickly, here are the hot topics of 2021 that are embraceable or dumpable. Feel free to disagree. Just not to my face. Love it: Required Minimum Distribution age moved to 72 permanently. Would love it even more – get rid of RMDs entirely. High personal savings rate…
I like to throw you a depressing blog about the stock market occasionally to remind you that dropping stock markets are normal, not to panic and sell, blah, blah, blah. Just when I was struggling to make this information fresh, I happened to listen to a podcast in the Choiceology series by Dr. Katy…
With supply shortages in all areas of the economy, one of the biggest attention grabbers is the lack of car inventory. Today, I’m happy to interview Patsy Butterfield of H.M. Brown and Associates to get her perspective on buying a vehicle. Kristi: We are hearing horror stories about supply chain issues as it relates…
Some people think New Year’s Resolutions are lame. Others find them terrifying. I, being an Upholder (from The Four Tendencies – read it already!) cannot help but make resolutions when society tells me I’m supposed to. If you are in the camp of looking for ways to start the new year with some fresh good…
If one of your 2022 resolutions (more on those next week) is to focus on your physical health, your financially healthy choices may help. Health Savings Accounts (available to those participating in an H.S.A Qualified High Deductible health insurance plan) can be used today, in 5 months, or during retirement to pay for medical expenses.…
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