Online Purchase Installments: Good or Bad?
Key Takeaways Many online retailers offer the option to pay for items in installments. Installments may seem like a good idea, especially when there’s 0% interest on a purchase. Be careful not to jump at these offers too often, otherwise your monthly payments may become overwhelming.
The New SECURE Act: The Good News & The Bad News
Key Takeaways The new SECURE Act was passed on December 20th, 2019, and it affects retirement distributions. There are both positives and negatives associated with the SECURE Act. The new rule took effect on January 1st, 2020, and it’s a good idea to know how it will affect any funds you may inherit in the […]
Should You Be Your Own Stock Trader?
Key Takeaways Brokerage firms have recently stopped charging fees for stock trading, in an effort to attract more millennial investors. These fees were never very high to begin with, so this shift is more a change in principle than anything else. Investors who decide to take stock trading into their own hands may want to […]
Do You Know How Much You Should Be Saving For Retirement?
Key Takeaways Down the road, in retirement, you may want to abide by a safe withdrawal rate to ensure you don’t run out of money. A safe savings rate might be more relevant to you if you’re decades away from retirement. If you’re delaying saving for retirement, you might be surprised how much more you’ll […]
Five Rules to Abide By When Dealing With Identity Theft
Key Takeaways Never readily give away your personal information. By putting your personal information on social media, you have a very high probability of having your identity stolen. There are rules you can follow to help protect yourself from identity theft.
Do You Have a Will to Protect Your Family?
Key Takeaways A whopping 78% of millennials do not have a will or advance directives in place. Without these, your loved ones may run into legal issues if you become incapacitated or pass away. Think of a will as a love letter to your family, taking care of them after you’re gone.
A Tangible Budget Trick
Key Takeaways In this digital age, we have fewer reasons to write things down by hand. Science shows that the part of the body that has the greatest connectivity to the brain is the writing thumb. By hand writing your budget, you create both something tangible and a stronger connection from your brain to that […]
The Impact of Millennials’ Spending and Saving
Key Takeaways The millennial generation is the largest part of the workforce in our country right now. As millennials age, the amounts they’re saving and spending are changing. These saving and spending changes are impacting our economy and will continue to do so for several years.
The Downfalls to Target Date Funds
Key Takeaways Target date funds are a kind of “set it and forget it” way of investing for retirement. This approach doesn’t take into consideration all the variables about an investor, outside of his/her age. A better approach is to examine one’s specific circumstances when deciding how to invest.
Found Money: Your Health Savings Account
Key Takeaways Health Savings Accounts (HSAs) are tax deductible, tax deferred, and tax-free when used for health or medical-related expenses. Many people don’t realize HSA funds may be used for retirement. Once you’ve reached your limit on 401(k) contributions, your HSA may be an option for additional retirement savings.