Uncle Sam gives you a pass on paying taxes while you are building your retirement nest egg, but you’ve got to follow the rules.
Investing
Robo vs. Human Advisors: Why Personalized Help Matters
Having an investing strategy as part of an overall financial plan is an important way to save for the future and build wealth over time. However, making the right decisions can be challenging. That’s why people lean on professional financial advice to help them develop an action plan based on their financial goals and tolerance for risk.
While some people prefer meeting with an advisor, others want a do-it-yourself solution. That’s where robo-advisors come in. Continue reading
Ask the Advisor: Should I Contribute to an IRA?
Sander Tom is a Financial Advisor and Certified Financial Planner™ with more than 30 years of experience in the financial services industry; more than 15 of those with SchoolsFirst FCU. Over this time, he has developed a deep understanding of investing and its powerful impact on a person’s life.
Should I consider an IRA?
An Individual Retirement Account—or IRA—allows anyone with earned income to save for retirement. That’s why it’s a great option to start saving for your future, especially if you don’t have an employer-sponsored retirement plan through your job. Also, if you’re self-employed, you can use an IRA to create a retirement plan. In addition, there are special rules that may allow a stay-at-home spouse to contribute to an IRA. Continue reading
Your Money and Rising Interest Rates
Interest rates have been at historic lows for some time, which has been helpful for borrowers. In March of this year, the Federal Reserve raised rates by a quarter of a point and is expected to raise rates at least two more times in 2018.
Investing Moves in a Stormy Market
It’s easy to understand why some people get panicky when the market drops. If financial headlines unsettle you, keep in mind what your goals are and if anything has changed in your life that warrant a review with a financial advisor. Otherwise, here are some strategies to build and maintain an investment portfolio you can live with through all market conditions.
Financial Literacy for Kids
No matter how enthusiastic you are, trying to formally teach finance to kids is a tall order that is likely to make their eyes glaze over. Hold their attention by keeping money lessons relevant, age-appropriate and a bit playful.
Investing Ideas for Your Retirement
Reprinted Courtesy of NerdWallet
Investing can be one of the best ways to help your money grow.
If you have a goal, like being able to retire someday, investments can offer a greater chance of increasing in value at a faster rate compared with money placed in an interest-bearing account. Here are the basics.
Understanding Inflation
Reprinted Courtesy of “It’s a Money Thing”
When most people think of inflation, their response is usually similar to when they see a vintage advertisement: reminiscing about the cheaper prices of the past (15 cents for a burger? Awesome!) while simultaneously feeling some resentment towards today’s ever-rising prices. Generally, inflation is seen as a frustrating “financial fact of life” that passively affects everyone as price levels climb and as the dollar’s purchasing power decreases over time.
9 Ways to Master Your Money
Set Specific Goals
Saving tends to be easier when you have a certain purpose in mind: Saving for your first house, retirement at a certain age, a child’s college education, or even a trip around the world. The important thing is to be specific.
Summertime Financial Makeover
Summertime is a good time to comb through your personal finances and ensure that you’re managing your budget, credit cards, investments and insurance in the best possible way. Here’s how to get started.