Many people keep putting off things they need to do until the “start of the year”.  Following a budget, saving for retirement, opening an IRA, refinancing the house, and a host of other things fall into this category. 

So, the SECURE act is now law, and there are many changes for Americans that are actively using an IRA, college savings plan, inherited IRA, making charitable donations and more. 

That is, compound interest has massive benefits to your investments over time, particularly if your dividends and interest are being reinvested to buy additional shares, and you’re receiving a free match through your employer retirement plan like a 401k.

A Health Savings Account (HSA) is an investment account that allows savers to invest capital into traditional assets (stocks, bonds, etc.), and then later use that money to help pay for medical expenses. 

The average person is going to need somewhere between 60-80% of their current income to maintain their standard of living during retirement. Why is the estimate for retirement lower than current income?

So what is a good recession strategy? Evaluate your risk tolerance, allocation, and emotional ability to withstand losses BEFORE a recession, so that when it happens, you’re adequately able to deal with the results.

It can be hard for many people to remove the emotional aspect of making investment and trading decisions. Numerous studies have shown that the majority of people under perform compared to professionals because of poor decision making and impulsivity.

The insurance industry sows confusion by calling their salespeople “financial advisors”, when in reality they are annuity or life insurance salesmen. Once you wade through the sea of insurance salespeople, it is then possible to find a Certified Financial Planner CFP.

One of the most popular budgeting plans is the 50/30/20 plan. This means that 50% of your after-tax income should go towards necessities, 30% towards “wants” and 20% towards debt and saving for retirement.

Early retirement at 55 is a dream for many people, but the road to get there can be pretty difficult for most families. The Social Security Administration defines full retirement age as 65, and about half of Americans retire between the ages of 61 and 65.

However, there are some minor differences that in our opinion make ETF’s superior for retail investors. Both ETF’s and mutual funds are containers that hold many different types of stocks within them, but those containers are different from each other.

The concept of a “fiduciary” can be applied to a lot of situations, as it generally means a person who acts on behalf of another person to manage assets. Essentially, a fiduciary is a person or organization that owes to another the duties of good faith and trust. They can be board members, the trustee of a trust or estate, or even an attorney to a client.