If you have a child graduating from high school or college and entering the workforce, they may have the opportunity to open up a 401(k) through their new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage. While it sounds like a no-brainer to take advantage of these benefits early, less than one-third of employees ages 25 and younger participate in their employer’s 401(k) plan. It’s essential...
The Coronavirus pandemic has affected us all in ways that we didn’t anticipate at the start of the year, especially when it comes to our finances. And unfortunately, just as federal emergency benefits are starting to run out, signs of a second wave of the virus are looming—and some may even say it’s already here. The good news is that there are ways to protect your finances in the event of a second wave of...
There are over 30 million small businesses in the United States. Many people start their own businesses in order to become their own boss and take control over their schedules, career goals and finances. It can be incredibly rewarding to start and own a successful small business. But one thing that many small business owners may not think about is a retirement plan. As a business owner, you may assume that family members will take...
Paying fees for professional investment management is something we’d all like to avoid. Why pay for some guy in a suit to manage your investments when you can do-it-yourself with a simple online brokerage account? There are many reasons to trust a professional - read on to find out whether it’s worth it to go with the pros. Active vs. Passive A key distinction for investors is whether you want a passive investment strategy or...
It seems like we’ve been conditioned to shop since birth. While an occasional splurge is nothing to get worked up about, we’ve become incredibly wasteful in the process. Landfills from coast to coast are full of our discarded belongings such as furniture, equipment, appliances, and electronic items like computers and cellphones. We no longer repair an item, we simply replace it. Some of our spending habits can certainly be tied to the incessant marketing and...
It’s daunting to think about the day when you may not be able to live independently and care for yourself. But planning early for long-term care can keep you from becoming overwhelmed in the event that you develop a chronic illness, disability or other condition. By planning your care now, you’ll be more likely to have greater control over significant decisions and remain comfortable as you get older. Here are some ways that you can...
Here are the answers to some of the most common investment questions you’ve always wanted to ask. 1. When should I start investing? When you have the means to do so. One of best places to start investing is with your employer’s 401K or 403B plan, particularly if they offer a match on contributions. If your employer doesn’t offer this option, consider investing in an individual IRA. Investing in stock should be a consideration when...
Here are the answers to some of the most frequently asked financial questions. I’ve just started my first job. Do I really have to start saving for retirement now? Yes. While it’s important to wait to invest until student loans and any credit card debit has been paid off, if your current employer offers a 401K or 403B Plan, you should take advantage of it; particularly if they offer a matching contribution. You can certainly...
Many people dream of the day they can leave work behind and start pursuing their lifelong dreams. But for most people, you’ll need to achieve financial stability and independence before you can leave behind your day-to-day job in exchange for a more fulfilling path. This is where the increasingly-popular financial independence, retire early (FIRE) movement comes in. The basis of the FIRE movement is quite simple: Save and aggressively invest a large percentage of your...
The Coronavirus pandemic has affected us all in ways that we didn’t anticipate at the start of the year, especially when it comes to our finances. And unfortunately, just as federal emergency benefits are starting to run out, signs of a second wave of the virus are looming—and some may even say it’s already here. The good news is that there are ways to protect your finances in the event of a second wave of...
The Coronavirus pandemic has affected us all in ways that we didn’t anticipate at the start of the year, especially when it comes to our finances. And unfortunately, just as federal emergency benefits are starting to run out, signs of a second wave of the virus are looming—and some may even say it’s already here. The good news is that there are ways to protect your finances in the event of a second wave of...
There are over 30 million small businesses in the United States. Many people start their own businesses in order to become their own boss and take control over their schedules, career goals and finances. It can be incredibly rewarding to start and own a successful small business. But one thing that many small business owners may not think about is a retirement plan. As a business owner, you may assume that family members will take...
