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
Happy New Year! You didn’t make up another list of New Year’s Resolutions again this year, did you? According to Forbes 62% of Americans feel pressured to make New Year’s Resolutions. In 2024 The top 5 New Year’s Resolutions were: 1) 1) Improve Fitness – 48% 2) Improved Mental Health – 36% 3) Improved Finances – 32.8% 4) Lose Weight –… Continue Reading: 3 Reasons to Skip the Financial New Year’s Resolutions This Year
Here are 3 simple reasons to avoid private equity in your 401(k). Private equity is all the rage now. I should clarify that. It is all the rage about having private equity offered to all the Average Joe’s through their 401(k) plans at work. Wait, what? Yes, it is possible you may be given the… Continue Reading: 3 Simple Reasons to Avoid Private Equity in Your 401(k)
Goodbye to the Joneses. 3 Practical Steps to Arrive Financially. The Joneses are everywhere. And boy, do they like to spend money; frequently money they do not even have. Please do not try to compete with them. They will beat you every time. When running out to money or filing for bankruptcy tires them, they… Continue Reading: Goodbye to the Joneses. 3 Practical Steps to Arrive Financially.
In golf the low score wins. The player with the least strokes per round is the winner. If you hit a bad shot into the woods or the water hazards (ponds and streams) you can get a mulligan. You can have a second shot and not have a penalty. However, according to the rules of… Continue Reading: No Mulligan for Retirement – Easy Ways to Get It Right the First Time
IRA To be eligible for an IRA, you will need to have earned income. This is from your wages as an employee. If you are self-employed, this would be from your self-employment income.In the past, there was an age restriction on who can contribute to an IRA. This is no longer the case. If you… Continue Reading: IRA vs. Roth IRA. What You Need to Know
Investors need to know the difference between tax-deferred and tax-free investing. Tax-Deferred Investing Investors can avail themselves to tax-deferred investing by contributing to their 401(k) plan at work or by funding their IRA. Contributions to these accounts are tax-deferred. The contributions are put in pre-tax. The funds grow tax deferred. When distributions are made from… Continue Reading: The Difference Between Tax-Deferred and Tax-Free Investing
Investors can easily get distracted these days. Hop in the car on the way to work, turn on the radio and get updates on the stock market futures. Check your online portfolio at work during your lunch break. Perhaps you even check it several times a day when you should be working. Stop off after… Continue Reading: 4 Things Every Investor Can Control
This article is original content written by local Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA You have reached the holy grail (for some) and retired. Congratulations! You are in the Land of No Alarm Clocks. Now you can do (almost) whatever you want to do. You’ve worked your whole life to get here. Now… Continue Reading: 4 Easy Steps to Stay Retired
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Don’t you just love it when a Major League athlete signs a huge contract with a new team and says, “It’s not about the money.” Bull Just to be clear: It’s always about the money! Don’t get me wrong I… Continue Reading: “It’s Not About the Money”