Following the herd can lead to risky outcomes, don’t chase the latest investment fad. Many investors fall victim to the herd mentality, especially when chasing the latest investment fad. Following the crowd can lead to poor investment decisions and unnecessary risk. Everyone knows they should not drive through the rear-view mirror when investing. It was… Continue Reading: Why You Shouldn’t Chase the Latest Investment Fad
Plan B Last summer, we drove into a gas station near the beach to fill up the gas tank. An old, blue, beat-up pickup truck pulled in next to us. In the back of the truck was a small dinghy. I saw the name “Plan B” on the back of the boat and started… Continue Reading: 3 Practical Reasons You Need a Financial “Plan B”
Don’t look now but, but someone told me I am Debt-Free. No, not me! Heavens no! Because I have a few helpers. The kind that help you spend your money. Some folks call them ‘children.’ This is a story of a colleague of mine whose goal was to be debt free by age 55. He… Continue Reading: Don’t Look Now, But Someone Just Told Me “I ‘m Debt-Free!”
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
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
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
7 Easy Things Learned from the Roaring Twenties 2.0. All the way back in January 2020 we wrote about The Roaring Twenties 2.0. Looking back, what have been the biggest changes since then? The Pandemic No question. In fact, it might be easier to describe what the Pandemic has not changed rather than to list… Continue Reading: 7 Easy Things Learned from The Roaring Twenties 2.0