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Roth or Traditional IRA? - Parsec Financial

IRA Contribution Rules

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.

A Financial Guide to Divorce

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.

Ready, Set, Retire! - Parsec Financial - Retirement Planning

Budgeting Goals Made (Somewhat) Simple

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.

Time to Refinance Your Home?

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.

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