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Should You Pay Off Your Mortgage or Invest?
Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is...
Read MoreThree Things to Know Before Buying a Home
Whether you're a first-time home buyer or are re-entering the real estate market after a hiatus, it's important to educate yourself on the most up-to-date tips and tricks for purchasing a home. Doing so can help save you thousands or...
Read MoreRetirement Planning Throughout Life: Strategies to Keep in Mind
Retirement planning is a complex process requiring as much support and time as possible to reach the desired end. Retirement planning at all ages is important – the more time put into the process, the less investment is necessary...
Read MoreNavigating the Path to Homeownership After COVID-19
The arrival of spring flowers often means one thing — the home-buying season is here. But with the COVID-19 pandemic in full swing in early March 2020 and many parts of the U.S. still under shelter-in-place orders through...
Read MoreSocial Security and Coronavirus
If you have been laid off or face business downturns, you may wonder if you should claim Social Security now. These guidelines can help navigate the decision. Plus, how Social Security is functioning during the pandemic. On Tuesday,...
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Maintaining Your Mental Health in the Time of Coronavirus
Even if you're not one of the 36 percent of Americans whose mental health has been affected by the coronavirus pandemic, it's important to be proactive when it comes to maintaining a positive emotional state during these turbulent...
Read MoreCould these Market Pullbacks be Opportunities?
How this late-winter, coronavirus-induced market turbulence affects you depends upon how old you are. For people in or near retirement, it is scary – yet there are ways to offset a shrinking stock portfolio. Regardless of your...
Read MoreWhat to Do with Your Retirement Plan During Lay-Offs or Furloughs
In an attempt to slow the spread of the coronavirus, the government has shut down numerous businesses throughout the country, and others have drastically cut hours. As a result, over 10 million workers filed for unemployment in March...
Read MoreCould Your Retirement Withstand a Drop of 70%?
Boeing and the risk of your retirement being concentrated in a single stock It was January 2000 and Joseph Boeing just landed his dream job at his dream company, headquartered in his hometown of Seattle. Joe just turned 40 and as a...
Read MoreWhat to Know About the Individual Relief Provided by the CARES Act
As the coronavirus crisis hit a fever pitch in late March 2020, Congress passed an unprecedented $2.2 trillion relief package known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act. While much of the CARES Act focuses...
Read MoreThe April 15th Tax Deadline is Now July 15th
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...
Read MoreRisk Management and Your Retirement Savings Plan
By investing for retirement through your employer-sponsored plan, you are helping to manage a critically important financial risk: the chance that you will outlive your money. But choosing to participate is just one step in your...
Read MoreIdentitiy Theft and Your Taxes
Identity theft is one of the fastest growing crimes in the United States, with as many as 10% of Americans over age 16 being victims in 2016, according to a bulletin from the Bureau of Justice Statistics. Identity theft is a type of...
Read MoreTax Withholding on Paychecks
Employers are legally obligated to withhold payroll and income taxes from their employees' paychecks. As an employee, you should review withholding taxes so that you understand what is being taken out of your paycheck, but you should...
Read MorePlanning for the 2020 Tax Season
2020 doesn't just mark a new year, but the beginning of a new decade—and with it, some more changes to the federal tax code. It can often be easy to put tax preparation on the back burner, but being proactive can help you save...
Read MoreFinancial Considerations for Single Women
If you’re divorced or separated, money management will become an important part of your life. While it may be true that money can’t buy or ensure happiness, your ability to manage your finances can play a large role in your...
Read MoreFebruary is a Great Time to File Your Taxes
Tax tips to make sure your money is working for you, not Uncle Sam When should you file your income tax? Generally speaking, the earlier, the better, after January 1st if you expect to get a refund. If you file by the end of February,...
Read MoreSix Most Overlooked Tax Deductions
Who among us wants to pay the IRS more taxes than we have to?1 While few may raise their hands, Americans regularly overpay because they fail to take tax deductions for which they are eligible. Let’s take a quick look at the six...
Read MoreHealth Care Options in Retirement
While you were working, you likely relied on employer insurance. But after retirement your options are different, and that requires careful planning. Some 58% of people in the U.S. today get their health insurance through an employer,...
Read MoreConducting a Home Inventory
A home inventory is a complete and detailed written list of all your personal property that's located in your home and stored in other structures like garages and toolsheds. It should include your possessions as well as those of family...
Read MoreIncome Tax Planning and 529 Plans
The income tax benefits offered by 529 plans make these plans attractive to parents (and others) who are saving for college or K-12 tuition. Qualified withdrawals from a 529 plan are tax free at the federal level, and some states also...
Read MoreChoosing an Income Tax Filing Status
Selecting a filing status is one of the first decisions you'll make when you fill out your federal income tax return, so it's important to know the rules. And because you may have more than one option, you need to know the advantages...
Read MoreEstablishing a Budget
Do you ever wonder where your money goes each month? Does it seem like you're never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals...
Read MoreWhy Open a my Social Security Account?
You might assume it’s safer to keep your personal details—especially your Social Security number—off the internet. Actually, setting up a my Social Security account is an important step toward protecting your benefits...
Read MoreSocial Security as Longevity Insurance
What if you or your spouse lives to a very ripe old age – to 90, 95, or even 100? The key to having enough income in your old age is to maximize the higher-earning spouse’s benefit. This can be done by having the...
Read MoreThe Most Important Question in Retirement Planning
What do people fear the most in retirement? Outliving their income. And what variable has the largest impact on whether or not they will outlive their income? Life expectancy. Your ability to successfully plan for retirement is largely...
Read MoreSix Tips For Organizing Your Records
You may have your records organized in a way that works for you, but imagine what your loved ones would face if you weren’t around to show them where everything is. This is why an important part of legacy planning is organizing...
Read MoreSometimes Paying the IRA Penalty Makes Sense
Whether it’s sports, taxes or life, we’re programmed to avoid penalties, and usually that’s a good move. Occasionally, however, by simply avoiding penalties, we can be detrimental to ourselves. Indeed, sometimes...
Read More11 Ways to Minimize the Bite from Medicare Taxes
Though the Patient Protection and Affordable Care Act (PPACA) faces an uncertain future, Obamacare remains the law of the land for the time being. The continued existence of the law has important implications for the uninsured, small...
Read MoreKey Thoughts on the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act has brought the biggest tax overhaul in 30 years and has left many with questions. It’s important that you understand how the elimination of deductions, compression of tax rates, and brand new benefits...
Read MoreEstate Planning Checklist
Because you've worked hard to create a secure and comfortable lifestyle for your family and loved ones, you'll want to ensure that you have a sound financial plan that includes trust and estate planning. With some forethought, you may...
Read MoreEssential Tax Tips for IRAs
Woe to the taxpayer who runs afoul of the numerous and confusing IRA rules. There are forms to file, contributions to make, distributions to take, and penalties to avoid. While corrections are possible, it’s best to avoid...
Read More7 Key Differences Between a Roth 401(k) and a Roth IRA
Roth 401(k)s and Roth IRAs share the ultimate goal of tax-freedistributions of earnings, but they are governed by different rulesalong the way. This side-by-side comparison can help determinewhich vehicle suits your needs best. Roth...
Read MoreTax Benefits of Home Ownership
In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of yourtime, but several other factors are also relevant in determining your principal residence. Many of the...
Read MoreBuying a Home
There's no doubt about it--owning a home is an exciting prospect. After all, you've always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you're buying one for the...
Read More529 Savings Plans
A brief history 529 plans were created by Congress in 1996 and have been modified through the years by various pieces of legislation. Known officially as "qualified tuition programs" or QTPs, 529 plans are so named because they are...
Read MoreMake the Most of Your 401(k)
As more Americans shoulder the responsibility of funding their own retirement, many rely increasingly on their 401(k) retirement plans to provide the means to pursue their investment goals. That's because 401(k) plans offer a variety...
Read MoreWomen: Make a Financial Plan -- the Secret of Your Success
Financial planning is more than just a good idea. Research has consistently shown that people who have financial plans -- and who work with financial advisors -- save and invest far more and are nearly twice as likely to feel on track...
Read MoreA Look at Diversification
Ancient Chinese merchants are said to have developed a unique way to manage their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by pirates, the rest stood a...
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