Your second quarter 40lk retirement plan statement should arrive in the mail any day now. Be prepared for some big surprises. The Balance Shock Everyone starts by looking at their account balance. Be prepared. It will be dramatically lower -- especially when compared to your 2021 year-end valuation. The second quarter was one of the..
The stock market has tumbled, and bitcoin has stumbled. But the one financial asset that has held up -- so far – is the price of the family home. In fact, in the last year the median home price. has risen 20.7%. Of course, the housing market was subsidized by very low fixed interest rates..
Crypto markets lost more than $100 billion in the volatile market activity in recent weeks. That brings the total market value loss in crypto to more than $1.3 trillion in the past 6 months! Headline declines in Bitcoin took the price of one coin from $64,000 at its peak to well under $20,000 per coin..
With inflation still growing, daily costs rising, and the stock market falling, retirees suddenly realize their plans could be upended. Younger families see the cost of food and fuel taking a bigger bite out of each paycheck, causing them to make tradeoffs in spending. Now there's concern about a recession on the horizon. This is..
There is absolutely no doubt anymore. Inflation is deeply embedded in the economy. Today's report of inflation at 8.6% in May is the highest since 1981. The only question is what can be done about this punishing tax that hits hardest at low-income families and seniors on fixed incomes. What will it take – and..
You worked so hard to accumulate all that money in your 40lk plan. And a huge bull market helped. But when you retire or move to a new job you might be much better off doing an IRA Rollover. The best reason to do a rollover is that the investment choices in 40l(k) plans --..
The Memorial Day holiday weekend is a reminder to honor the service of our veterans. It is also a good time to take another look at VA mortgage loans. Now that rates are rising, VA loans have become even more attractive. If you ever served in the military and are considering buying – or refinancing..
The college acceptance letters have arrived, and many families now are facing the scramble to find money to pay for the dream that has landed in their child’s inbox. It’s an issue that should have been discussed many months ago. Most financial aid packages offered by colleges will leave families with sticker shock. But there..
It’s been a long time since we had a real bear market, and memories of pain fade amidst subsequent gains. For a generation of recent investors, and those with short memories, some perspective is in order. In the past 3 years, the entire stock market outperformed its historic averages. Over the past 75 years, the..
(updated 5/11 with answers to your questions about purchasing savings bonds.) The interest in savings bonds has never been higher. That’s because in an era of low CD rates, I-bond rates are astounding! From May 1 through November 1st the Series I-bond interest rate is 9.62%! That rate will be paid on all outstanding I-bonds..
As a record number of Americans are heading into their retirement years with impressive balances in their 40l(k) plans, the potential disruption of this long bull market has many people trembling. The prospect of actually losing money just as they need to plan retirement living withdrawals is truly frightening for this generation of amateur investors...
It's the most important financial headline of this century: Inflation! A new generation of Americans is about to face the impact of inflation – on their daily lives, their financial decisions, their investment choices, and their retirement lifestyle. While many pundits proclaim that this period of inflation will come to a quick end, history shows..
The spring wedding season is upon us, and around the country brides, grooms and their parents are making arrangements for extravagant celebrations now that the Covid era is (hopefully) far behind us. According to a survey by The Knot there will be more weddings in the United States in 2022 than any other year since..
When tax time comes, your children can be worth a lot of money – even if you didn’t earn any income. There are two main tax credits that apply to children, and they are frequently confused. One gives a significant refundable credit simply for their existence. The second gives a refundable credit (this year) for..
As I was answering a post on my blog this morning, I realized that many people may be missing out on big refunds this year -- simply because they don't know how to claim them. (Please read my nearby column on both the Child Tax Credit and the Child CARE Credit for some background.) Others..
Do you think you can "beat" the market? Well, take a look at these new statistics. Even the highly-paid money managers fail dismally at the challenge of beating their benchmark indexes. This morning S&P Dow Jones Indices released the latest damning figures! The numbers speak for themselves, so here is a "cut and paste" from..
The volatility of the stock market based on fighting in Ukraine and soaring gas prices presents a significant challenge to your future if you’re nearing retirement or already in it. Over the long run – 20 years – a diversified portfolio of large company stocks has always given a positive return, even adjusted for inflation...
If you waited and waited to refinance your mortgage, only to see rates rise recently, you now may have one last chance. But it’s a narrow window. The Fed has made headlines, promising to raise rates enough to control spiraling inflation. The war in Ukraine will make inflation worse – as oil prices soar along..
This is the typically the slow season of the year for personal finances – a perfect time to get things in order. I firmly believe that if you leave financial projects undone, you are tempting fate. Here’s my starter to-do list. 1. Open an IRS account at ID.me. It will give you the latest info..
I can’t stress enough the importance of naming the “correct” beneficiary for your retirement accounts – IRA, 40l(k), and 403(b) plans. It’s equally critical to update the named beneficiary on your old pension plans and life insurance policies, which you may have started years ago and likely forgotten. Otherwise, after your death a huge fight..