Recent government inflation data suggests that in 2024, Social Security recipients could see a 3.2% cost-of-living adjustment (COLA), as projected by The Senior Citizens League. According to this nonpartisan senior advocacy group, this anticipated increase would boost the average monthly retirement benefit by approximately $57.30. It’s worth noting that The Senior Citizens League’s calculations are […]

Historically, pension plans were the go-to retirement option offered by employers until the 1980s. However, times have changed. According to the U.S. Bureau of Labor Statistics, as of March 2022, pension plans are offered in only 15% of the private industry workforce.  While defined contribution plans, including 401(k)s, 403(b)s, and 457s, have taken center stage […]

After a pause lasting three and a half years, approximately 44 million individuals in the United States who carry student loan debt will soon be resuming payments on their loans. Here are some common questions and answers for borrowers and their families. When does interest resume? Student loan interest is scheduled to begin accruing this […]

When planning your finances, it’s important to think about emergency savings, which means having money set aside for unexpected situations. People handle this differently – some save a lot while others live paycheck to paycheck. But there’s a middle ground that’s smart. An emergency fund helps when things go wrong, like losing your income. It’s […]

Investing in the stock market is an endeavor filled with uncertainty and unpredictability. Investors often seek out winning streaks, hoping to capitalize on past successes and achieve substantial returns. However, this mindset can lead to the well-known “Hot Hand Fallacy.” This cognitive bias revolves around the mistaken belief that past success in investing will guarantee […]

If you have a 401k plan, you probably have access to the increasingly popular option of a Target Date Fund (TDF).  These funds offer a hands-off approach for investors, providing a diversified portfolio that adjusts over time.  While TDFs are essentially the “easy button” for investors, it is important to understand how they work and […]

Healthcare costs are a significant concern for many individuals and families, but there is a tax-advantaged tool that can help alleviate this burden while providing unique financial benefits. Health Savings Accounts (HSAs) offer a triple tax-exempt strategy that allows individuals to save and invest funds specifically for medical expenses. In this article, we will explore […]

When creating a financial plan, it’s important to set an endpoint. Each person has their own family history, current health, and expectations for how long they’ll live. That’s why we analyze historical life expectancy rates from birth and look at future projections. Here’s a chart dating back to 1860 through 2020, showing life expectancy rates […]

In recent days, the Securities and Exchange Commission (SEC) has intensified its scrutiny of cryptocurrency exchanges suspected of evading regulatory requirements. This increased pressure has resulted in the SEC targeting prominent industry players. On Monday, the world’s largest cryptocurrency exchange, Binance, faced legal action from the SEC, followed by another lawsuit filed against Coinbase. The […]

Over the last couple of decades, entrepreneurship in the United States has grown significantly.  According to the latest entrepreneurship stats, nearly 5.1 million new businesses were registered in 2022 alone. In 2021, the number of new businesses established hit a record high of 5.4 million.  Below is a chart of the monthly total business applications […]

Tax strategies play a crucial role in effectively managing concentrated stock positions, allowing investors to minimize tax liabilities and optimize their overall financial situation. Concentrated stock positions can present unique opportunities for wealth accumulation, but they also carry significant risks. By implementing tax strategies tailored to these positions, investors can strategically diversify their holdings, defer […]

Personal finance is an area of life that demands a great deal of attention and responsibility. As we continue to conduct more of our financial transactions online, it has become increasingly important to protect our personal and financial information from hackers and cybercriminals. With identity theft and financial fraud on the rise, it is crucial […]

Losing a loved one is one of life’s most difficult challenges, and the process of grieving can be overwhelming. On top of the emotional toll, there are also a number of practical and financial considerations to address in the aftermath of a loved one’s passing. From managing their estate and notifying financial institutions to navigating […]

Long-term care insurance (LTC) is a type of insurance policy that covers the cost of long-term care for people who require assistance with daily living activities due to aging, chronic illness or disability. This type of insurance policy provides financial protection against the potentially high costs of long-term care services, such as nursing home care, […]

With the many headlines in the investing news, one key factor we watch is the value of the US Dollar vs other worldwide currencies. The US dollar is the world’s most dominant currency and is used as the primary currency for international trade and investment. Its importance lies not only in its wide usage but […]

In light of recent events, there is concern among investors in the stability of the U.S. banking system. The FDIC has a crucial role to ensure deposits are protected and mitigate potential risk to consumers. The FDIC (Federal Deposit Insurance Corporation) is a U.S. government agency created in 1933 in response to the widespread bank […]

Warren Buffett, the renowned investor and CEO of Berkshire Hathaway, has often commented on the role of fear and greed in the stock market. One of his most famous quotes on this topic is: “Be fearful when others are greedy and greedy when others are fearful.” This quote highlights Buffett’s belief that investors should be […]

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 […]

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 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 […]