The end of last week saw a stock market drop which has many spooked and supposed experts have been using words like ‘market crash’, ‘historic drop’, and ‘recession’. Here are the 5 things you should do to keep the market downturn from ruining your financial plan.
Read MoreI am going to attempt to answer your questions as well as I can, but (and I can't stress this enough) this is not a decision you want to make based on advice off the of a website forum. You are considering a major irrevocable decision which could have significant . . . .
Read MoreDespite what you might hear, there are some very good ‘pros’ in favor of annuities. But, there are also a lot of very big ‘cons’ with buying an annuity. Annuities provide a fixed income until you die, which is very attractive for retirees. With a fixed annuity, the fact the insurance company is taking. . . .
Read MoreThere are no sure proof ways to safeguard a nest egg, but there are things you can do which will improve your protections and increase the safeguards. Below are some general recommendations which can help you see what tools are available to you to protect your wealth based on the. . . .
Read MoreBased on your information, the three strategies to begin exploring are maxing out your 401(k) plans, maxing out an HSA if you have access to one, and creating a Donor Advised Fund if you are . . . .
Read MoreIf you live in the house as your primary residence, you will be able to take up to $250,000 as profit without paying any capital gains tax ($500,000 if you are married). This would be the ideal . . . .
Read MoreYour wife is entitled to benefits based on your Social Security benefits, but it will not impact or reduce how much you receive. She is entitled to 50% of your benefits or 100% of her own benefit. . . .
Read MoreWhile there are some key differences between the plans, it is the underlying investment options and fees which should really drive this decision. Each of the plans will have predominantly the same …
Read MoreBased on the information you provided, it appears a term policy is most likely the right policy for you. The extra money would probably be better used to build an emergency fund and then invest for . . . .
Read MoreI'm sorry to hear about your mother. For the stocks, you fortunately shouldn't have any taxes due. The stocks were already 'taxed' when estate taxes were assessed on the value of the stock when you . . . .
Read MoreWhile it's currently trendy for gurus and media pundits to advise people to pay their student loans off immediately, the math doesn't work out in favor of this strategy. This article explains the math of …
Read MoreFocusing on rapidly paying off debt may seem like common-sense, but it can be devastating to your financial plan. Not only can this strategy reduce your future retirement accounts by hundreds of thousands of dollars, but it actually increases the risk of going further into debt if you lose your job or another emergency happens.
Read More"Ignore Rules of Thumb," Joshua Escalante Troesh, President, Purposeful Strategic Partners, shared.
Read MoreAlthough the tax reform was pitched as a simplification of the tax code, the nearly seven-hundred page Tax Cuts and Jobs Act do little to simplify the number of pages in the tax code. You, however, will probably see much simpler taxes in the coming years because the vast majority of taxpayers will no longer need to itemize deductions.
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