Inflation occurs when there is more money circulating than there are goods and services to buy. The process is like trying to attend a sold-out concert at the last minute; there is more demand for tickets than there are tickets to go around.
Risk Tolerance is One Factor in Determining Your Investment Strategy
Risk tolerance and time horizon are two factors that help determine your investing strategy and asset allocation. Both items are impacted by your age (young adult, family formation, retirement) and life events (marriage, children, retirement).
RMDs -Required Minimum Distributions
Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from
traditional IRAs and employer-sponsored retirement plans after you reach age 72 (or, in some cases, after you retire). You can always withdraw more than the minimum amount from
your IRA or plan in any year, but if you withdraw less than the required minimum, you will be subject to a federal penalty.
Whether to Buy or Rent a Home Can be an Agonizing Decision
Whether to buy or rent a home is a difficult decision.
The increase in sales price and sales activity over the last couple of years, as well as the increase in rental rates, has not made it any easier to make the buy or rent decision.
Federal Student Loan Interest Rates Decrease for 2019-2020
Every year, federal student loan interest rates on new federal student loans are reset by Congress for the upcoming academic year. For the first time in three years, interest rates will decrease in 2019-2020 for borrowers. The lower rates apply only to new federal student loans disbursed between July 1, 2019, and June 30, 2020…
Financial Planning: Helping You See the Big Picture
Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where financial planning comes in. Financial planning is a process that can help you target your goals by…
Family Values and Our Grandsons
Family Values are ideas as to how you want to live your life. These values help you make good choices and guide you on how to behave in certain situations.
Values are personal beliefs about what is important and what is not; what is good and what is bad and what is right and what is wrong. Therefore, values give us direction on how to live. We want to share our values with our children.
Financial Literacy Grows Over a Lifetime
Financial literacy grows over the course of one’s life. Learning these concepts earlier rather than later makes us better equipped to meet our life’s goals. Most Americans are not given the opportunity to learn important financial concepts. Both the education system and the parenting process have neglected to develop the appropriate financial skills needed to…
Spend, Spend, Spend: Is Our Government a Bad Influence?
Why Do People Spend More Money Than They Earn? Some believe Americans have a YOLO problem. The term, which is short for “you only live once”, has become quite popular. It is so popular that #YOLO is a searchable keyword on Facebook and Twitter. Many Americans believe in retail therapy. Shopping allows people to visualize…
Are Your 2018 Income Taxes Going Up or Down?
The tax filing deadline for our 2017 income tax returns has come and gone. Are your 2018 income taxes going up or down? To help you answer that question, let’s dive into some tax changes in Tax Cuts and Jobs Act of 2017 (TCJA). First, here are my observations from the 2018 individual income tax filing season.
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