Emergency Fun(d)

What is an emergency fund? An emergency fund is a reserve of savings used expressly for unplanned expenses or financial distress. Whether medical bills or a car repair, an emergency fund is a cushion that absorbs those unexpected expenses. Ideally, an emergency fund will keep you from raiding your retirement savings or, worse, taking on…… Continue reading Emergency Fun(d)

Why You Should Use an Independent Financial Advisor

There are a lot of financial advisors out there. The Bureau of Labor Statistics estimates that the United States has approximately 263,000 personal financial advisors. There are 3,330 St. Louis financial advisors, according to U.S. News. St. Louis has a lot of financial advisors and financial planners for a city of its size. For a St.…… Continue reading Why You Should Use an Independent Financial Advisor

How Much To Save for College

It’s no secret that college is expensive, and college education costs have only accelerated over the past decade. The staggering cost of college and its acceleration will be a significant challenge for millennial parents to meet. Parents want to know first: “How much do I need to save for college?” How Much Should I Be…… Continue reading How Much To Save for College

Beginners Guide to 529 College Savings Plans

A 529 plan is a savings plan is one of the best ways to save for tuition or college expenses. A 529 offers many tax benefits and designates an individual’s tuition and related education expenses. The two main 529 plans are prepaid tuition and more typical college savings plans. Prepaid tuition plans allow the account…… Continue reading Beginners Guide to 529 College Savings Plans

Is It Better to Pay Down Debt or Invest?

One of the most common questions a financial advisor gets is paying off debt vs. investing. More specifically, is it better to pay down debt or invest? Should you delay retirement savings to pay down a mortgage or student loans? Should you pay off debt before starting an emergency fund?   The simple answer is that…… Continue reading Is It Better to Pay Down Debt or Invest?

A Financial Wellness Guide for Millennials

We often think of wellness in terms of physical or mental health. Paying lots of attention to them, we often spend a lot of time, effort, and money trying to focus on them. To achieve a better quality of life, we focus on our mental and physical health. We rarely talk about money. It’s so…… Continue reading A Financial Wellness Guide for Millennials

Where to Put Money for Short-Term Savings

Short-Term Investments Matching your money to your short-term needs can help you squeak out some gains, even in a low-interest rate environment. A short-term investment can be converted by investors to cash now or soon, with relative ease and safety of principal. However, keeping a pile of money in cash can leave some earnings potential…… Continue reading Where to Put Money for Short-Term Savings

A Guide to Saving for a House Down Payment

Saving for a house down payment while renting can seem like a daunting task, especially in this economic environment. Housing prices continue to soar, and savings accounts offer very little interest. Given these circumstances, setting aside money in a bank savings account can make the uphill climb seem even more challenging. How Much Money to…… Continue reading A Guide to Saving for a House Down Payment

When Roth IRAs Make Sense for Millennials

Roth IRAs are often associated with younger, entry-to-mid-level workers for their tax advantages. However, as millennials step into their high-income years, contributing to a Roth IRA, even indirectly, still makes a lot of sense. I will discuss using a Roth IRA for emergency funds, education savings, a home purchase, Roth IRA conversions, and Backdoor Roth…… Continue reading When Roth IRAs Make Sense for Millennials