Blog

On the Money

Tilly Koll

Thursday, February 1, 2024

A money market fund can help support your overall financial plan.

All couples hope for a “happily ever after,” but it’s no secret that money issues can be primary reasons partners split up or divorce. To avoid future battles over finances, it’s smart to put all your cards—credit and otherwise—on the...

When someone uses your name, credit card, social security number, or other financial information to commit a crime, you are a victim of identity theft. Luckily, you can take steps to make it more difficult for thieves to access your...

We’ve discussed the debt ceiling crisis in past articles, and now it’s back in the headlines. What does this mean, and why are we watching it now? Several months ago, the United States borrowed as much money as it’s legally allowed to...

In recent weeks, there has been much ado about the dollar. Questions and concerns have arisen about de-dollarization, central bank digital currencies, and what the government might do to your savings. The root of these concerns seems...

The collapse of Silicon Valley Bank set off a whirlwind of activity in the banking sector, the markets, and the global economy. How can we make sense of what occurred and what it means going forward? Brad McMillan, CFA®, CAIA, MAI...

Contributing to a Roth IRA is an extremely efficient way to save for retirement. The earlier contributions are made, the more time savings have to grow tax free. Wouldn’t it be great if your children could take advantage of a Roth IRA...

Whether you’re looking to make a New Year’s resolution or you’re simply trying to implement some information security best practices, you would be well served to start using a password manager. Why?

On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act, 2023, an omnibus spending bill that includes the SECURE 2.0 measure (a.k.a. the Securing a Strong Retirement Act 2.0). Broadly, SECURE 2.0 is...

Retirement is hardly as easy as stopping work on Friday and breaking out the golf clubs on Saturday. Here are some things to think about before your co-workers take you out for a final, celebratory meal.

Retirement planning is complicated. Many individuals put off saving, thinking that retirement is years away—until it isn’t. Then, in their 40s and 50s, they start to panic and wonder how they’ll catch up.

Did you know Americans change jobs an average of 12 times in their lifetime? If you have changed jobs and left behind 401(k) accounts with prior employers, you know firsthand that managing retirement accounts spread among different...

By some definitions, a recession is identified by declines in the GDP for two quarters in a row, so you can expect this report to trigger headlines over the next several days indicating that we’re now officially in a recession. But are we?

As inflation has risen and stock prices have fallen, we’ve heard a lot of buzz about a bear market recently. And now we’re officially here.

When it comes to the market, investors tend to have short memories as they struggle with what’s known as recency bias wherein more weight is put on recent events to the point of overshadowing the preponderance of historical evidence...

It would seem counterproductive to look at these past 12 months in isolation. They were, rather, the second act of a drama that began early in 2020, the precipitant of which was the greatest global public health crisis in a hundred years.

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement...

When it comes to creating a stream of income in retirement, there are two predominant schools of thought: the systematic withdrawal strategy and the bucket strategy.

Preparing for retirement just got a little more financial wiggle room, as the Internal Revenue Service (IRS) announced new contribution limits for 2022.

While it’s still too early to draw any final conclusions, Congress is getting closer to outlining what tax law changes are under consideration to pay for the proposed $1.75 trillion Build Back Better Plan.1

Budgeting is like anything in life: The more you make it a habit, the easier it becomes. The key is getting started, but you’d be surprised how many young people never think through that initial step.

Your credit score, often called your FICO score, represents to a lender how likely you are to pay your bills on time. It may determine whether you can get a loan, a job, an apartment, or insurance. A low score may prevent you from...

As a small-business owner, figuring out retirement choices can be a little intimidating. How do you pick the most appropriate retirement plan for your business as well as your employees?

Deciding when to begin taking your social security retirement benefits can be difficult because there are many factors to consider. Even if you plan to keep working, social security benefits are available to most workers as early as age...

In response to the economic impact of COVID-19, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. The U.S. Department of Education (DOE) announced an extension of this relief through...

Over the past two weeks, the medical news began to deteriorate as cases of COVID-19 and positive test rates went back up. Concerns existed as to whether the worsening numbers were a signal of another surge of the pandemic. But recent...

We’ve all seen the stories about bitcoin over the past few years—the triumphs and the pitfalls. For many investors, this cryptocurrency has raised a lot of questions and a lot of curiosity. Is bitcoin just a “scam” that will end in a...

We all know we should be saving for retirement. But, according to EBRI’s 2018 Retirement Confidence Survey, many Americans aren’t prepared. In fact, 79 percent of respondents said they plan to work in retirement! Of course, life gets in...

If you’re one of the many women whose lives and finances have been turned upside down by the pandemic, you might be struggling with what to do next. Fortunately, there are strategies to address your immediate concerns and help you plan...

Comparing housing appreciation to stock market returns over the past year.

Unlocking two myths about divorce that might help reduce stress.

In December 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which is changing retirement and estate planning for many.

The process for enrolling in Medicare is surprisingly easy. But before enrolling, you will need to make a choice about how you want your Medicare delivered. Unlike an employer’s health plan, you may have dozens of options from which to...

Clearly, most women will need to build up their own retirement savings if they wish to maintain a reasonable standard of living in their later years. Here are some strategies to consider to get started.

While there are lots of “Top 10” lists designed to help retirees decide where to buy a retirement home, the National Association of Realtors created a different type of list. This one is called: The Top Ten Most Favorable Areas...

To help ensure that you make the best Medicare choices, it’s a good idea to check the following items off your list before you turn 65.

Everyone needs an estate plan, no matter the size of the estate. Not only does this plan help carry out your wishes after your passing, it benefits you while you’re living.

It has been a very difficult couple of weeks in the financial markets. Stock markets worldwide have dropped sharply on the spread of the coronavirus pandemic. Worse, the shutdowns of large parts of the economy as a risk control measure...

Tips to tackle the difficult conversations and how to create a planning team.

When planning for retirement, most Americans think mainly about using tax-advantaged savings vehicles like 401(k) or individual retirement accounts, while failing to consider the triple tax advantages associated with saving for future...

Financial planning tips to help reduce conflict at home.

2019 is a wrap, and we're into a new decade. How did 2019 end up, and what do we need to know going forward?

When envisioning retirement, you may picture living in tropical climates, traveling and sightseeing at leisure, or doing whatever suits you on any given day. Regardless of your age or circumstance, it might surprise you to learn that a...

Here are 10 things to consider as you weigh potential tax moves between now and the end of the year.

In today’s world, we are more connected than ever. Smartphones, tablets, and laptops allow us to communicate with others easily and at all times. But that communication requires an Internet connection—and not all options are created equal.

When it comes to estate planning, executing your will and other estate documents is only the first step. To help ensure that your estate plan stays in tune with your goals and needs, it’s important to review and update it on an ongoing...

Many parents may find it uncomfortable, or even believe it is unnecessary, to inform their children about personal finance matters. Yet, communicating openly with your family members can help to reassure them about your financial and...

If your wife or husband does not have paid employment, your family may have to do some additional planning to minimize your tax bill, while ensuring that you are saving enough for retirement to cover the needs of both partners.

Asking for help is a sign of strength, not weakness.

One of the most difficult experiences in life is the loss of a spouse. In addition to grieving the loss of your partner, you may also feel overwhelmed by the need to make important financial decisions that could have a lasting impact...

Retiring well is the best reward for a lifetime of hard work. But a successful retirement doesn't just happen--it is the result of careful planning.

Consider your current life insurance policy. When did you take it out? Is your coverage up to date? Have your beneficiaries changed? Has your estate grown?

Is there a better fit for your retirement savings than an Individual Retirement Account?

But it's still important for you to pace your claiming strategy in order to get the most money you can.

What to keep in mind as you enter your "golden years."

The belief that you, or a particularly talented financial manager, can foresee the direction of the stock market is a seductive one.