I’m sure you’ve heard this many times in the past. Here it is again. Here are several different ways of essentially saying the same thing: “Live Beneath Your Means” “Pay Yourself First” “Spend Less Than You Make” You get the point. As you already know, easier said…. than done! To live beneath your means may… Continue Reading: 3 Easy Ways to Live Beneath Your Means
Before you can adopt an investment strategy, you should consider setting aside an adequate cash reserve fund. Cash reserves are what you need to have available just in case that proverbial rainy day comes along. Here are Practical Steps and Benefits of a Cash Reserve Fund. Rainy Day Fund Unexpected things happened and bills come… Continue Reading: Practical Steps and Benefits of a Cash Reserve Fund
Before Investing, Know the Rules of the Road In the past, we discussed with our clients their goals and objectives, risk tolerance, and what their timeline is for when they need the funds. We would then allocate the appropriate amount to the three major asset classes, cash, fixed income, and equity. Then, we will drill… Continue Reading: Before Investing, Know The Rules of the Road
Unless you file for an extension, your 2025 Income Tax Return is due on April 15, 2026. And, if you are getting a refund, you want to file as soon as you can. We wrote about this earlier with our 7 Practical Steps to File Your 2025 Income Tax Return. The Internal Revenue Service (IRS)… Continue Reading: 3 Practical Things to Do with Your Tax Refund
Here are 3 Financial Planning Lessons all of the Average Joe’s Will Love. The movie Dodgeball: A True Underdog Story came out in 2004. It’s a story about gym owner Peter Lafleur (Vince Vaughn) trying to save his gym. The gym is very behind on its bank loan and Peter is concerned it will be… Continue Reading: 3 Financial Planning Lessons all of the Average Joe’s Will Love
Here are 3 Practical Reasons for your coming Social Security haircut. Short History of Social Security The government formed the Social Security System in 1935. Monthly benefits began in 1940. As part of President Franklin Delano Roosevelt’s New Deal during the Great Depression, this initiative aimed to provide economic relief and reform. In 1950, a… Continue Reading: 3 Practical Reasons for Your Coming Social Security Haircut
Determine Roth IRA Eligibility Investors with earned income may be able to contribute to a Roth IRA. For 2025, the maximum Roth IRA contribution is $7,000. If you are aged 50 or older, you can make an additional $1,000 catchup contribution. For 2026, the maximum Roth IRA contribution is $7,500. And in 2026 for those… Continue Reading: Practical Steps to Fund a Backdoor Roth IRA Conversion
In my opinion, many investors will need to open a Roth IRA for their retirement. Here are 3 reasons why. 1) To Fund Your Retirement Sorry to state the obvious. If you do not realize this already: You are on your own with your retirement. Let that sink in. You (likely) will not be getting… Continue Reading: 3 Easy Reasons to Open a Roth IRA
Here is what you need to know to understand the math of the stock market now. Price Earnings Ratio One ratio that all Average Joe’s should be familiar with is the Price Earnings (P/E) Ratio. It is one of the more common measurements of valuation. This ratio takes the price of a stock and divides… Continue Reading: What You Need to Know to Understand the Math of the Stock Market Now
Although I am no longer a practicing CPA, here are 7 Practical Steps to File Your 2025 Tax Return. And if you are looking for more financial guidance, do not miss the 6 Easy Ways a Financial Advisor Can Add Value. 1)Expect Delays with the IRS The IRS, like many other government agencies, has its… Continue Reading: 7 Practical Steps to File Your 2025 Tax Return