How is my Social Security Benefit Calculated? The Social Security benefit amount is calculated based on a formula that takes into account your average earnings over your working career, the age at which you start receiving benefits, and the number of credits you have earned. Here is a step-by-step guide on how your Social Security […]
The average American household debt has risen to a record level, and the number may surprise you. Debt plays a significant role in our financial lives. While it can be a valuable tool for financing investments and purchases, not all debt is created equal. Understanding the difference between good debt and bad debt is crucial […]
Creating and sticking to a budget is an essential step in achieving financial stability and reaching financial goals. It allows individuals to control their spending, save money, and plan for the future. Here are some of the most effective ways to implement a budget and take control of your finances: In conclusion, budgeting is an […]
When it comes to saving for retirement, one of the most popular options is a 401(k) plan. One of the key decisions that individuals need to make when contributing to a 401(k) plan is whether to make Roth or pretax contributions. Both options have their own set of pros and cons, and the decision of […]
When it comes to choosing a place to live, deciding whether to buy or rent a home is one of the biggest decisions you’ll ever make. The choice will impact your lifestyle, your financial well-being and also affects your future. In this guide, we’ll break down the pros and cons of buying vs renting a […]
As we turn the calendar to 2023, many investors are happy to put 2022 behind them. 2022 was a roller coaster as the markets were anything but predictable accompanied by inflation hitting 40-year highs, rapid interest rate increases and mounting layoffs spanning across the economy as it begins to contract from all the policy changes. […]
During the third quarter of 2022, leading up to and entering the fourth quarter of 2022, massive layoffs are becoming increasingly common in the technology sector. Companies such as Twitter (recently purchased by Elon Musk) and Amazon have both had to downsize their workforces due to rising costs and slipping profits. This is especially troubling […]
There are plenty of ways to hike in the fall: whether you’re watching football or going on a trail with friends and family. However, all eyes are on the Federal Reserve’s rate hikes as they continue to raise rates throughout 2022. Since the Federal Reserve has begun its hiking cycle, there has been much speculation […]
“The four most dangerous words in investing are ‘this time it’s different.’” Sir John Templeton is known for coining this famous phrase, and over the last few months, the stock market has been moving in a more positive direction. The S&P 500 gained 9.1% in July; history tells us this could be just the beginning. […]
The Federal Reserve has been aggressively raising interest rates to curb inflation, which continues to grow. In July, the Fed raised interest rates by another 75 basis points after doing the same thing in June. This demonstrates their commitment to reigning inflation in and ensuring it does not get out of control. The rising interest […]
