We often think of market downturns as bad things, but we can also reap some benefits from the situation. In particular, this might be the right time to pursue tax-saving opportunities such as a Roth conversion. What is a Roth conversion? When you first established your retirement account, you choose between a traditional or Roth [...]
Receiving a nice, fat tax refund check can provoke quite a bit of temptation. You might consider rushing off on a dream vacation, or at least purchasing an upgraded home entertainment system. But if you view your tax refund as a chance to get ahead and change your circumstances, it can make a significant difference [...]
You’re always hearing about the high cost of pay interest on debts, especially credit cards. And of course, no one enjoys wasting money! But there are even more reasons that paying off your debts can be a very wise decision. Freedom. Not only are you free from those notices that keep showing up in the [...]
We all know that saving for retirement is important. But when life throws unexpected events our way, savings can take a backseat to medical bills, a necessary move, or some other major expense. If you realize you’ve fallen behind, the following strategies can help you catch up your retirement savings. Increase your earnings. It seems [...]
We all want to live a comfortable lifestyle. Plus, a feeling of competition can creep in when you see your friends, neighbors, family members, or even complete strangers enjoying luxury items or fancy vacations. It’s only natural that you want to enjoy these things, too. But with easy access to credit, temptation can lead your [...]
When you think of the famous billionaire, Warren Buffett, you probably don’t assume that you have much in common. Surely he lives very differently from the rest of us, right? And surely his financial habits have nothing to do with your own life! Actually, there’s a lot we can learn from those who are more [...]
There’s been a lot of talk about becoming a “cashless society”. Most of us pay for purchases with debit or credit cards, or even through our phones. You’ve probably even noticed that many self check-out lines have gone cashless. Some retailers are considering the concept of ditching cash entirely. And yet, there are several good [...]
Most of us would like to get our financial plans and budget in better shape, but it can be difficult to change old habits. In many cases, it’s our approach that is faulty. We tend to set vague goals, such as “pay off debts” or “control my spending”. But without a concrete definition of what [...]
Imagine that you file your taxes, only to receive a notice stating that you’ve already filed and collected your refund. Your refund has been delivered to someone else’s bank account, who filed a return using your information. Or, you receive a refund from the IRS, even though you haven’t yet filed your return. Days later, [...]
During times of emergency or pressing health concerns, many will find themselves in a rush to consider estate planning decisions. We want to stress that ideally, you will have taken the time to carefully consider your options and draft a complete estate plan with a qualified attorney before an emergency situation strikes. However, that is [...]