Tag: Saving

  • Best Short-Term Investments Right Now

    Best Short-Term Investments Right Now

    It’s no secret that the Federal Reserve has rapidly increased interest rates in 2022. While those rapid increases have killed investor sentiment in the stock market, they have made short-term investments appealing again. Short-term investments can vary significantly in length, quality, and restrictions, and this guide will help you sort through them. What are short-term […]

  • 26 Ways to Use Your FSA

    26 Ways to Use Your FSA

    What is a flexible spending account, or FSA? As the year winds down and open enrollment begins, it’s a great time to look at your flexible spending account. FSA stands for flexible spending account. It allows you to use pre-tax money (saving you on taxable income) for healthcare. You choose the amount you wish to […]

  • Financial Planning and Advice for Millennials

    Financial Planning and Advice for Millennials

    Building wealth in your 20s and 30s looks different. The traditional financial service industry targets the retirement market, as that is typically the height of wealth for most families. Financial advisors usually attempt to get their investments and charge a percentage or sell annuities that generate commission-based and ongoing fees. Either way, financial services focus […]

  • Emergency Fun(d)

    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 […]

  • What A Year This Quarter Has Been

    What A Year This Quarter Has Been

    It has been a difficult quarter for investors. Major indexes entered bear territory (means down 20%). US treasuries, generally the safest of assets for when investors are scared, have had their worst year since the 70s (when interest rates go up, bonds go down). Commodities, which I generally say “they suck until they don’t,” have […]

  • How Much To Save for College

    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 […]

  • Beginners Guide to 529 College Savings Plans

    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 […]

  • Is It Better to Pay Down Debt or Invest?

    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 […]

  • A Financial Wellness Guide for Millennials

    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 […]

  • Where to Put Money for Short-Term Savings

    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 […]

  • A Guide to Saving for a House Down Payment

    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 […]

  • When Roth IRAs Make Sense for Millennials

    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 […]