Many millennials find themselves confused by all the different investment and retirement accounts that exist. I mean how could they not when there are so many and each have different rules, different contribution limits, different income limits, etc. so I thought it would be helpful to create a longer post on the main type of accounts you will see, the…
“Most great fortunes are built slowly. They are based on the principle of compound interest.” – Brian Tracy I could go on and on all day with quotes about compound interest but hopefully, you understand how powerful compound interest truly is, and if you believe in it, your goal should be to allow your money to stay invested for as…
I was planning to take this week off from the blog as I am headed out on Tuesday to California for vacation. Then Monday rolled around, and I changed my mind. I decided to write a quick blog post about something that has been on my mind for a while now. As a financial planner, so much of my job…
Last week I wrote about the new child tax credits, the changes that are coming, whether you should take them monthly or not, and more. You can check it out here if you missed it. I wanted to follow up on that blog post with some ideas of how you can best use these additional dollars you will be receiving (if you…
Starting July 15, parents will begin receiving monthly payments from the government just for having kids. The child tax credit is increasing from $2,000 per child under 17 to $3,000 for kids aged 6-17 and $3,600 for any kids under 6. These monthly payments are only going to be paid monthly for the last 6 months of the calendar year,…
You are in your late 20’s to 30’s and have been saving for years to put a down payment on a house and the time has finally arrived. You now own the house you have dreamed of. Let me start by saying congratulations. Owning a house is a dream for many. It’s a place to build a life, grow a…
Finances are pretty easy to manage when you are paid a regular salary. However, things can get a little more confusing when your income is irregular. There are many different ways you can be paid these days, some common options are: having a salary, being paid through commissions, having salary + commission, being paid quarterly, etc. We all know the…
Emergency funds are a staple in financial planning. I am a firm believer that everyone needs one regardless of your risk tolerance, how safe your job is, how much debt you have, how much you have invested in the market, etc. There were multiple debates on Twitter this last month about how much you should have as an emergency fund…
As a financial advisor, I get asked almost daily what I am investing in. It mostly sounds like this “are you invested in Bitcoin? Ethereum, Apple, Tesla, AMC, etc.” The list could go on forever. I always have a hard time answering this question because what I invest in doesn’t really matter. Just because I invest in certain things does…
We have all heard that money is the #1 cause of divorce. I am not starting with this to scare you — I am saying it because you need to be mindful of how complex it can be to merge your financial life with someone else. You grew up in completely different ways leading you to have completely different beliefs…