Personal Finance

A Better Alabama Through the Gift of Education

The Number of Failing Schools in Alabama is Rising…How You Can Help a Child Get a Better Education and Not Cost You a Penny? For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the Money Tuesday segment. The updated list of failing schools in Alabama is out, and it […]

Avoid the Double-Dip Minefield of Retirement Savings

In a recent survey from Allianz Life, 54% of adults have reduced or stopped their retirement savings. What’s more disturbing is that the research indicated that 43% are dipping into retirement savings to help pay bills and live a certain lifestyle. This can cause a ‘double-dip’ minefield for retirement savings. First, the stock market is […]

Be Prepared for 2023 Tax Changes

While inflation continues to be a thorn in the side of consumers, recent tax adjustments by the Internal Revenue Service (IRS) to prevent what the Tax Foundation calls “bracket creep” will provide welcomed relief in 2023. According to the Foundation, bracket creep is defined as a “push into higher tax brackets or a reduction in […]

Eliminate Private Mortgage Insurance (PMI)

With inflation putting pressure on consumers, steps to relieve the strain and save money are at a premium. Well, good news!  Due to the rapid increase in home values over the last few years, many homeowners now have an opportunity to improve their cash flow by eliminating their Private Mortgage Insurance (PMI). With PMI costing […]

Compounding Returns

Albert Einstein once said, “Compounding interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it”. There is a magic to investing that many people never learn. Unfortunately, this usually results in mediocre financial success at best. In fact, about 97% of all workers never accumulate enough money […]

3 Savings Tips for Young Professionals

Whether you’re a recent college graduate in your first career job or you have been working for several years, a lot of people are finding it difficult to save for the future. Real-world inflation is making it difficult at the gas pump and grocery store, but less-than-stellar money skills can be the main culprit in […]

Inflation vs. Recession

What is worse:  Inflation or Recession?  Many have posed this question to me over the past several months, so I thought it constructive to review their respective attributes and provide context to the challenge facing the U.S. Central Bank/Federal Reserve.  First, it is essential to understand that the Federal Reserve has a dual mandate of […]

Money Management: Valuable Lessons for Kids of all Ages

Last week, we discussed how young to start teaching your children the value of a dollar and how to manage it. Now, let’s focus on tips to help teach money management skills to the Young Adults in your life. For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the […]

Using Your Home Equity Line of Credit (HELOC)

With home equity values at all-time highs and inflation straining the budgets of everyday Americans, it can be tempting for homeowners to utilize the increase in their home’s value over the past few years in the form of a home equity line of credit (HELOC). While the HELOC can be a great source of financial […]

5 Mistakes That Can Have a Ripple Effect in Retirement

5 Mistakes That Can Have a Ripple Effect in Retirement

By The Welch Group The years approaching retirement and the first couple of years away from work are the most critical phases of your golden years. Not only must you figure out what you will do with all your free time, but also change your mindset from being a diligent saver to a smart spender. […]