Category: Financial Planning
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A Guide to Saving for a House Down Payment
Saving for a house down payment while renting can seem daunting, 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 even more challenging. How much should you save for a down…
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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…
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Financial Advice for Millennials Will Be Different
Millennials Will Ruin Another Industry Do you remember family restaurants or plastic straws? They are still around, but I can’t recall the last time I sipped through a plastic straw inside a TGIFridays. Millennials have undoubtedly had an outsized impact on the restaurant industry and will similarly affect financial advice. Key Takeaways The Millennial Generation…
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Understand and Maximize Your HSA for 2022
What Is an HSA? An HSA, or Health Savings Account, is a tax-advantaged account for individuals with high-deductible health plans (HDHP). The HSA allows individuals to save for medical expenses that the HDHP does not cover. The 2022 HSA contribution limits are $3,650 per individual and $7,000 for a family. There is a $1,000 catch-up…
