One of my favorite personal finance books is The Psychology of Money. It really examines how our knowledge, experience and mindset around money affects our financial decision making. Here are 5 lessons from the book that were my favorite.
You are making good money. Some of that money is coming in the form of stock options, RSU’s or possibly bonuses. You’re contributing to your 401k, holding on to your stock options from your employer and now are looking to take your investing to the next level. Here are 5 Investing strategies you can consider to help you get there.
n the US, we have a progressive tax system, meaning that your tax rate goes up as your income goes up. What confuses a lot of people is that professionals use terms like Marginal and Effective tax rates and often don’t explain what they mean. So let’s explain them.
What is the S&P 500? All the financial news outlets reference it. Is that the entire stock market? Should I invest in an index fun? These are typical questions that I get asked. Unfortunately, it’s not that easy to give specific investment advice without know what your specific goals and financial situation is. However, I can help educate you on what these financial terms mean!
It’s so easy to be unaware of where your money is going. We used to have checkbook registers to keep track of our money. Now everything is digital and subscription services! Let’s face it, for many Americans, the only reason they have any savings is because of their 401k. To be more specific, it’s because the money never enters their checking account. It gets directly deposited into their 401k by their employer. Any money that enters your checking account can be at risk to overspending or emotional responses. The solution my wife and I found that worked wonders is establishing a Wealth Building Account.
One of the major obstacles to financial investment for many people may be intimidation. The idea of placing your money into an investment can certainly be intimidating, especially for those who may feel less than informed about financial matters. There is no reason to be intimidated if you have sought out a mentor for your financial life. Mentorship from a financial professional can be of incredible value for you as an investor, helping you shape a financial strategy that will assist you in pursuing your goals.
January is Financial Wellness Month, which means it’s a good time to remind people to plan and update their financial strategy. Now is a great time to connect with your financial professional to discuss your financial situation and aspirations for the future. You should also assess if your financial strategy needs any adjustments or changes based on your lifestyle.
The new year is here, and now is the time to create financial goals to help you get on track and set yourself up for a more financially stable future. Sometimes, getting your finances organized can be a daunting task, but by setting a few yearly goals, it can be easier than you think. Start the year off right by getting started on these five financial goals.
The average annual healthcare expense per insured individual ranges from roughly $3,800 for 19- to 34-year-olds to about $13,000 for retirees (ages 65+). As Americans pay more for medical care, they often seek ways to save for emergencies. Health savings accounts (HSAs) and health reimbursement accounts (HRAs) can help.1 What are these accounts, and who has access to them? We explore the pros and cons of each option to help you determine which one you may have access to and the best one for your individual needs.
Even if your 2022 has been relatively uneventful, the end of the year is still an excellent time to get cracking and see where you can manage your overall personal finances.
Whatever your reason for giving this year, it’s important to know how your charitable contributions can impact your financial plan. In fact, being strategic and intentional with your charitable contributions can create tax benefits for both you and your chosen charity.
Many companies offer employer-issued stock as a benefit, in addition to other compensation and benefits. But what happens if you leave a job that offered you employer-issued stock or if you experience another triggering life event (such as turning 59½)? That's where net unrealized appreciation (NUA) strategies come in. There are a few favorable rules to help you determine what to do with those company stocks to potentially minimize your tax bill.
