Spring can be a fantastic time to refresh your retirement plan and savings habits. With 2023 bringing increased limits for 401(k)s, individual retirement accounts (IRAs), Health Savings Accounts (HSAs), and other tax-advantaged accounts, it's worth taking a closer look at your retirement savings. Below, we discuss three ways to refresh your retirement plan this spring.
Financial independence is an important goal regardless of your age, partnership status or stage of life. It allows you to remain self-reliant and prevents you from being controlled by others. And even if you have not always approached your marriage or partnership with financial independence in mind, it is never too late to start.
When it comes to personal finance, there are a number of competing priorities that can make it difficult to determine where to focus your efforts. For many people, the choice between building emergency savings and working towards their retirement goals is one of the biggest dilemmas they face. So, which should you focus on first?
In the U.S., men are investing and accumulating wealth at a greater pace than women, fueling the gender investing gap. Closing the investing gap is essential so that women accumulate enough retirement assets for their entire lives. On average, women in the U.S. have a life expectancy of 80.2 years compared to men having a life expectancy of 74.5 years, according to WorldData.info. Women must be active investors to accumulate more retirement savings to last their long lives.
Tax season is upon us, and it's time to get your financial house in order. Whether you are filing as an individual or a business owner, it's essential to understand your tax obligations and make sure you are taking advantage of all available deductions.
If you work after you begin receiving Social Security retirement benefits, all or part of your retirement benefit may be withheld if your earnings exceed the retirement earnings test exempt amount. However, excess earnings won't affect your benefit once you reach full retirement age, and it's possible to time your earnings in retirement in order to optimize your benefit before full retirement age.
As people begin to age, having worked hard their entire lives and accumulated significant wealth in savings and investments, it becomes very important for many to evaluate strategies for leaving their wealth to loved ones. Luckily, there are a few options that allow you to give significant sums of wealth to anybody you want up to a point without the tax burden coming into play.
If you're thinking about working in retirement, you must consider a few things before making your decision. As you get older, the question of when to collect Social Security retirement benefits and how your monthly payment may be impacted by working is essential. Here's what to consider before making your decision:
Are you getting close to retirement and trying to stay on top of any changes to the retirement laws that may impact your goals and strategy? With the Secure Act 2.0 now signed into law, there are numerous retirement-related provisions included in the Omnibus Appropriations package that may be of interest to you.
In August 2022, the Inflation Reduction Act became law. Its deficit reduction and investment tax credit provisions include several renewable energy provisions designed to save you and your household money. By upgrading your appliances and making a few changes around your home, you may manage your energy costs now and in the future. Here are three ways you may save money on energy expenses with the help of the Inflation Reduction Act of 2022.
Each year, some of the biggest companies in the world fall victim to data breaches—in 2020, this list included Microsoft, Facebook, and Instagram. But just because small businesses aren't dealing with billions of electronic records like Amazon or Google doesn't mean they aren't just as vulnerable to data breaches. And failing to safeguard sensitive data may put businesses at risk of violating state and federal data privacy laws. Learn more about the data privacy obligations a small business owner has, as well as some steps to take to keep your data secure.
The 20 percent down payment on a conventional loan is one of those “everybody knows” items, as in “everybody knows you have to put 20 percent down.” In reality, however, there are a variety of down payment options available in the mortgage marketplace, and a 20 percent down payment may not be the best choice for your particular home purchase scenario. Find out what you need to know to determine the down payment amount that’s right for you and for your next home purchase.
With the signing of the Omnibus Appropriations package into law, both employees and employers can take advantage of more than 90 new provisions aimed at creating opportunities to create or modify workplace retirement plans and strategies. What to know about the Secure Act 2.0 that may impact you and your financial and retirement goals? Read below for a helpful overview of important information to know about the SECURE Act 2.0.
We all have things we’d like to see happen in the New Year. Whether it’s an improvement to your health and well-being, a new career you’d like to pursue, or a bad habit you need to break, resolutions are sometimes easy to conjure up but not as easy to achieve.
Financial wellness, like physical wellness, isn’t something you should ignore. Instead, it's a critical concept for anyone who wants to be knowledgeable and confident about their finances, and in fact, financial wellness is so important that more than half1 of employers now offer financial wellness programs to their workers.
Change may be difficult, especially when you try to change your financial habits. The process might be easier if you take an incremental approach. Do you want to get on top of your finances this year? Are you looking for ways to improve your fiscal health? Here are 12 financial resolutions to consider.
Energy costs are likely to be a concern for everyone. For small businesses, the problem is sometimes even greater. Not only do small businesses want to help manage energy costs to help the planet, but they also want to do it to help lower their overhead. Here are a few tips to get started for small businesses looking to save on their overall energy costs.
If you struggle to find a gift for the person who has everything—or want to do your holiday shopping without having to leave the house—consider giving stock as a gift. Doing so is easier than you think, and it may offer a few benefits for you as well. Here is some information on giving stock as gifts and the benefits of doing so. What Are the Benefits of Gifting Stock?
The end of the year can be a chaotic time for business owners. It is a time to compile data, review the numbers, evaluate strengths and weaknesses, and determine growth opportunities for the future. A business owner would be keen to review several factors in preparing year-end documents and preparing for the following year. Here are five tips that may assist with organizing a strategy.
Every Veteran is unique and requires personalized financial advice According to the most recent data from the U.S. Census, there are over 17 million Veterans in the United States and more than nine million of these Veterans are served by the Department of Veterans Affairs.
