Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2020. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2020 ($7,000 if you were...
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Long known as a day for pranks, the April Fool's holiday has a few possible origins[1] and has been celebrated in many countries for centuries. The holiday is typically marked by the delivery of practical jokes, at the end of which the...
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In 2020, the government gave taxpayers an automatic six-month extension due to the coronavirus. Individuals who were affected by the damaging wildfires were also given additional time to meet most tax deadlines. However, in 2021, the...
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In an increasingly paper-free society, organizing your financial documents can still be a challenge. No matter how simple or complex your financial picture might be, it takes some thought-out organization to keep your tax documents,...
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Retirement is one of the biggest life transitions adults will ever deal with. After 20, 30, or 40 or more years in the workforce, new retirees can find it hard to adjust to the reduced amount of structure in their daily lives. But...
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There comes a point in time when almost every small business owner contemplates the future of his or her business. Because “the business” typically is a substantial asset, an owner must address a number of estate planning...
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As of 2018, about 58 million Americans had a 401(k), while around one-third of households owned an individual retirement account (IRA).1, 2 Yet for as commonplace as these retirement accounts can be, the nuances of contributions are a...
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Only one-in-four Americans (27%) feel very confident that they will have enough money to live comfortably when they retire, according to the 2020 Retirement Confidence Survey Summary Report.11 While the number is up slightly from the...
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If you are a Millennial or Gen-Zer, buying your first home is likely one of the top priorities on your list. While you may know that you are ready for a house, you may be wondering what considerations you need to make before getting...
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New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances...
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From pandemic-related stimulus payments to job losses and furloughs, for many taxpayers, next spring's tax season may be more complex than usual. With the end of 2020 rapidly approaching, you should take some time to review your tax...
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2020 has been one of the most unprecedented years in recent history, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with the uncertainty surrounding just about everything,...
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The holiday season is just a short time away, which means the shopping season is about to be in full swing. Shopping for holiday gifts is stressful but also a little fun, especially when you think about the joy you will bring to those...
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When Thanksgiving rolls around, the holiday shopping season comes into full swing. While many people prepare their strategy for Black Friday shopping, a lot of them forget about the second shopping holiday that weekend: Small Business...
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Does the party occupying the White House affect the U.S. stock markets and other economic measurements? How does the party controlling Congress affect markets? While it’s interesting to review history and try to answer those...
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If you've been wondering how to optimize your finances and ensure your money continues to work for you, a financial professional may be able to help. But the thought of turning over your most sensitive financial information to a...
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The COVID-19 pandemic has reshaped our lives in unprecedented ways, forcing us to stay at home more, adjust our spending habits and even reevaluate our retirement hopes and dreams. But let’s take a moment and examine how COVID...
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Financial planning is an important part of securing your current lifestyle as well as preparing yourself for what you wish to do in your eventual retirement. And while this importance may look different during each stage of your life,...
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Many of you already have estate documents, probably executed many years ago. You need an estate attorney to look over your documents every 10 years or so. Here are a dozen points to review. Do you have a will and powers of attorney for...
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As you get older and closer to retirement, your financial practices need to shift slightly as you transition from working and saving to relying on your nest egg. As you approach this stage of your life, you need to take steps to...
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Like anyone else, you want a life insurance policy that meets your needs and budget. But how do you find the right policy when there are so many to choose from and many of them seem so similar? The key is knowing how to compare...
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Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs...
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Should you really consider getting life insurance when you are close to 60? September is National Life Insurance Awareness month. And while most of us likely recognize that life insurance provides us peace of mind and security, there...
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The abrupt end to the 2019-2020 school year in many parts of the U.S. left parents and students alike struggling to establish healthy routines. As many students prepare to head back to the classroom (or the remote classroom) this fall,...
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Invest early. Invest often. Invest for growth. These are the basic principles of saving for your child’s college education. The earlier you begin a savings program, the more time you have to benefit from the power of compound...
Read MoreThe July Fourth holiday will be very different this year. Although it’s a time to enjoy family and friends, and maybe even watch some fireworks, social distancing and a new wave of COVID-19 cases also may take a seat at the...
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Heading into your retirement years brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll, what to enroll in and what coverage will be best for you can be daunting. To...
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An annuity is a contract between you, the purchaser or owner, and an insurance company, the annuity issuer. In its simplest form, you pay money to an annuity issuer, and the issuer pays out the principal and earnings back to you or to...
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Whether you dream of a travel-filled retirement or would prefer to relax and enjoy spending more time at home, you’re probably wondering what you can do to make your golden years as stress-free as possible. For many who have...
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Mid-August is the time of year that our kids pack the U-Haul and head to college. And while they’re excited about a brand-new semester, it can be frightening to see the cost – and rising college debt – that comes with...
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Looking for a tax-advantaged college savings vehicle that has no age restrictions and no income phaseout limits — and one you can use to pay for more than just tuition? Consider 529 savings plans, a popular way to save for...
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“Never confuse a single defeat with a final defeat.” — F. Scott Fitzgerald The economic struggles in our country are among the worst we’ve ever seen. In April, a record 20 million people lost their jobs, and 36...
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Investors like labels for the economy and financial markets—many of them with the word “great” in them. The Great Depression. The Great Recession. The Great Lockdown. Well, we’ve moved into what we might call...
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Looking for a tax-advantaged college savings vehicle that has no age restrictions and no income phaseout limits — and one you can use to pay for more than just tuition? Consider 529 savings plans, a popular way to save for...
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Your need for life insurance changes as your life changes. When you’re young, you typically have less need for life insurance, but that changes as you take on more responsibility and your family grows. Then, as your...
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In late March 2020, as the number of novel coronavirus cases in the U.S. surged past 100,000, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed into law.1 The CARES Act provides around $2.2 trillion in aid to...
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Scammers, fraudsters, and other criminals are taking advantage of rapidly changing data and facts associated with COVID-19, both in the workplace and in our homes. Government agencies, corporations, and news outlets continue to warn...
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The United States has more cases of the coronavirus than any other country, and in an attempt to stop the spread of this disease, states have closed schools and businesses throughout the country. These unprecedented shutdowns have...
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The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes by 90 days, giving individuals and businesses another 3 months to file and then pay the government what they owe. What Should You Do? Putting...
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The world continues its battle to contain the COVID-19 pandemic, which now has likely impacted, either directly or indirectly, nearly every person on Earth. This is far more than just a health crisis—this is a human crisis. Its...
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With the rapid spreading of COVID-19, and more and more people either on self-quarantine or practicing social distancing, many of us are working from home. While working from home definitely has its perks – no commute! –...
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Installment debt, in itself, is not a bad thing. It enables us to make major purchases that would be nearly impossible to finance up front. In this consumer society, however, we're bombarded with advertisements for literally thousands...
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Money. It's hard to get and easy to lose. It doesn't take long for the wealth you've accumulated to disappear if you don't manage your money well or have a plan to protect your assets from sudden calamity. Snares like the ones...
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The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – passed the House of Representatives earlier this year and was approved by the Senate and signed by President Trump on the days...
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If advertisements and commercials are beginning to feature scenes of happy families, clad in brightly colored sweaters, gathered by a fire, surrounded by an assortment of presents, then the countdown to the holidays has begun. Although...
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Kelly and Bob regularly set aside a small portion of their budget for charitable donations. In addition to feeling good about supporting a number of worthy causes, they’ve been able to deduct the value of their charitable gifts...
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