You’re never too young to start thinking about your financial future. From the day your parents give you your first piggybank to the day you get your first paycheck to the day you begin drawing on your retirement nest egg, your goal is to learn, grow and use your money to make more money. The [...]
Related Posts: When ROTH is Wrong: Follow-Up Q & A Opportunity for High Income Earners – the Backdoor Roth Conversion More than 50,000 visitors in 2021… click here to sign up for our newsletter and never miss a post! (Don’t worry, we will not take up too much space in your inbox. After four fun [...]
Following the When Roth is Wrong post, readers responded with various questions and, sometimes, with a different form of the same question. We address several of those questions below since they're good questions and may be helpful for other readers. Q: If we end up leaving the retirement accounts to our children, doesn’t that make [...]
Investment offices teem with daily data releases and economic news bites. Afternoon market round-ups attribute the day’s movements to whatever data points best fit the narrative of the day or week. Investors crave the narrative, eagerly awaiting the next market moving release. Lately financial news has inundated us with talk of global slowdowns, trade wars, [...]
Hats off if you’re maximizing your 401k deferrals and reaching the federal employee contribution limit each calendar year: $19,000 in 2019 if you’re age 49 or younger or $25,000 in 2019 if you’re age 50 or over. Note: these limits have increased to $19,500 and $26,000 respectively for the tax year 2021. Additional congratulations if you’re [...]
The House of Representatives passed a bill on May 23rd known as the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) which would initiate the biggest changes to retirement accounts in over a decade. The bill had bipartisan support, passing with a vote of 417-3. It now heads to the Senate [...]
The Greek philosopher, Socrates, left no known writings. Only secondary sources exist for historians to piece together a recount of his work and teachings. The Platonic dialogues - roughly 30 dialogues written by Socrates' student, Plato - provide the source for much of what we know about Socrates. The dialogues generally involve Socrates as the [...]
Let's have an honest conversation about things that are rare. 1) A perfect game in baseball In over 210,000 Major League Baseball games spanning 140 years, there have been just 23 perfect games. 2) A full moon solstice According to the Old Farmer's Almanac, there have been 10 full moon winter solstices and 8 full [...]
In 1996, Thomas Stanley and William Danko co-wrote The Millionaire Next Door – an examination of millionaires in America and the common qualities that continuously appear among this demographic. They spent nearly 20 years interviewing Americans with a net worth of at least $1 million and compared the behavior of what they termed “UAWs” (Under [...]
The financial services industry has invented and promoted many ways to rip off people. Fake bank accounts, excessive and unauthorized account churning, non-traded REITs, cross-selling high fee products, pump and dump stock schemes, egregious variable annuity sales, and probably another financial abuse strategy exposed in the business section of this morning’s newspaper. In fairness, there [...]