Designing an investment portfolio can be a complex process at any age. It requires consideration of various variables such as risk tolerance, time horizon, and financial goals; however, there is one rule that always holds true for investors: **Rule** Never put yourself in a position where you MUST sell assets when they are down to […]
Retired? Avoid the Cardinal Sin of Investing
Strategies To Help Foil Scammers
One of my tennis buddies relayed a story where hackers had stolen virtually all his private information necessary to open accounts in his name. They proceeded to open bank accounts and credit card accounts across the country. It was a widespread scam attempt. Fortunately, he caught it before losing any money. Scammers constantly evolve tactics […]
Why Banks Fail & How to Protect Your Savings
By The Welch Group Banks play a vital role in the economy, providing individuals and businesses with access to cash, credit, and other financial services. Despite their importance, however, banks can fail. And when they do, the effects often cause panic in the wider economic environment. This past week, two major players in the banking […]
Is Your Money at Your Bank Safe?
Recently, the Silicon Valley Bank (SVB) failed without much warning in a matter of days leaving many bank depositors across the country wondering if their deposits were safe. The good news is that SVB was a member of the Federal Deposit Insurance Corporation (FDIC), which means that deposits of up to $250,000 are protected. However, […]
Over 65? Things to Watch for This Tax Season
Filing your taxes can be daunting, but it can also be an opportunity to save money if you know where to look. If you are 65 years old or older, it’s important to focus on certain tax areas that can help you reduce your future income tax liability and Medicare expenses. Here are some tax […]
Understanding How to Manage Your Cash Better
For years, monitoring your cash and cash equivalent accounts was not worth your time as they yielded close to 0% interest. However, the conversation around cash has changed drastically since 2022, and it now pays to understand the difference between checking, savings/money market accounts (MMA), and money market mutual funds (MMF). A few easy adjustments […]
Want to Take the Stress Out of Planning Your Financial Future?
If you stop to think about the most important things in your life, it’s likely that family, health, and having a sense of purpose rise to the top of your list. Naturally, money is also an important factor that adds to our quality of life—and it’s not to be overlooked. Financial stability can provide the […]
Emergency Savings: “A Receding Tide Lowers All Boats”
Just one year ago, research from the Federal Reserve indicated that a record 68% of households had the cash to cover an emergency expense of $400. Fast forward to today, and a new study by Suze Orman suggests that statistic has reversed…2/3’s of households could not cover an unexpected $400 expense. What gives? Inflation and […]
Did You Miss This $6,935 Tax Credit Opportunity?
It is estimated that millions of taxpayers will miss out on the Earned Income Tax Credit (EICT) in 2022, worth up to $6,935. Over 30 million workers in 2022 are eligible for the tax credit worth over $60 billion. Estimates indicate that up to 20% of eligible taxpayers are not aware of this tax credit. […]
Changes to 529 Educational Savings Plans
In a previous article, we discussed Alabama’s CollegCounts 529 Fund and how the recently passed Secure Act 2.0 offers greater flexibility to account owners in allocating education funds. Let’s now focus on a recent change that allows a portion of unused 529 account assets to be rolled over to a Roth IRA for account beneficiaries. […]