The Tax Cuts and Jobs Act passed in December 2017 and went into effect for the tax year of 2018. We have had over nine months to study the new law, and we thought it was time to share how it is going to affect the majority of hardworking, everyday Americans.
Whenever I’m at a party with strangers, the inevitable “What do you do for a living?” question comes up. When I say I’m a financial advisor (or financial planner), the next question is always “What’s a good stock I should buy?” Or, “Do you like Tesla and Netflix stock?”
These questions are great, but I’m not in the stock tip business. Instead, I like asking my new acquaintances some personal finance questions to see if it even makes sense for them to invest in individual stocks.
Have you grown sick and tired of the interest on your savings account amounting to pennies every year?
If your answer is “yes,” then you most likely have a savings account with an old-school traditional bank like Chase, Bank of America, or Wells Fargo. There, savings accounts have been paying interest at a rate of 0.01% to 0.05% since the financial crisis of 2008.
I always get asked questions like “How should I invest my 401(k)?”
These questions have become the norm over the last five years, as most of my friends and family know that I’m a financial planner who helps people prepare for retirement.
I decided it would be best to detail the most critical ingredients in building a killer 401(k) portfolio.
As you approach your late 50s and early 60s, the reality sets in that in the next 10 years you will be retiring. You’re scared and nervous. But you know the clock is ticking, and it’s time to leap into retirement.
As a parent, it’s a proud moment when your child gets accepted into college. You’ve watched your child work hard throughout high school, and now they’ve been rewarded with admission to an expensive private university!
Most entrepreneurs start a business to get away from the 9-to-5 grind of a corporation. Your early focus is on survival as you try to generate as much revenue as possible. Hopefully, at the end of the year, your business is profitable enough that you can take home an income similar to or more significant than what you were making at your corporate job.
So you’re a new parent, and in between naptimes and playtimes, you’re feeling the responsibility that comes with parenthood. You want to make sure your child’s future is taken care of, but just how do you do it?
Given the complexity of today’s economy and retirement system, more Americans than ever are looking to hire financial advisors for guidance on their most pressing financial issues. The hard part for many people is figuring out how to find an advisor to engage.
Inheriting money can bring mixed emotions. On the one hand, you most likely lost a loved one. On the other hand, your new financial windfall could help you accomplish your goals. Here are six steps to managing your inheritance so you can make it work toward your long-term dreams.
Don’t miss a beat.
- Week in Review: Small Business Owners Line Up for Payroll Protection Program Loans
- Financial Tips for Down Markets: Convert to a Roth IRA
- Week in Review: Congress Passes Historic $2 Trillion Coronavirus Stimulus
- Ep 21: Retirement Planning Strategies In A Recession
- Week in Review: California Locked Down Because of COVID-19
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