Our society is going through an unprecedented churn in the labor market due in part to the COVID-19 pandemic but also because of the normalization of working from home. As many people search for an ideal work-life balance, it is important not to neglect the ultimate end goal, namely retirement, and even more important not to abandon the primary resource for helping to ensure a stable retirement, your 401(k).
When is the last time you thought about your homeowners and auto insurance?
Financial Advisor Scott Kittrell outlines 10 ways to manage the rising cost of healthcare.
Senior Financial Advisor Judson Meinhart explains the basics of health savings accounts (HSAs) and how it can benefit your retirement.
The maximum contribution for 2022 individual retirement account contributions is $6,000 ($7,000 if aged 50 and over). There are income limits which determine whether you can deduct your Traditional IRA contribution or if you qualify to make a Roth IRA contribution.
It is critical to prepare for divorce by making sure you have the resources in place to navigate the process successfully. It begins with establishing a strong support network, one that provides you with the emotional support necessary to accept your new reality and navigate the ups and downs of the divorce process. For legal support, we recommend you engage a quality divorce attorney, one who is not only skilled in divorce, but a good communicator focused on your best interest. We also believe it makes sense to engage a financial advisor with expertise in divorce. He or she can provide invaluable technical support as you pursue an equitable settlement and plan for financial security in the future.
Life is uncertain. There are many things that are beyond our control.
With higher marginal brackets a likely reality and the 2019 SECURE ACT’s elimination of the STRETCH IRA, annual income tax planning has become even more important.
Budgeting is very important for setting yourself up for longer term financial success. I personally prefer monitoring three separate equations for main spending goals including retirement savings, home mortgage costs, and overall debt servicing costs.
One silver lining amid recent events is that market interest rates have declined, resulting in lower mortgage rates. Mortgage rates are sensitive to the 10-year Treasury note, which had a yield of 1.53% as of Sept. 30, 2021, an increase over the near-record low 0.66% yield as of Sept. 30, 2020. While less opportune a time to consider refinancing than near the record-low yield, a home refinance may still be worth considering if you have not done so recently.