There are over 30 million small businesses in the United States. Many people start their own businesses in order to become their own boss and take control over their schedules, career goals and finances. It can be incredibly rewarding to start and own a successful small business. But one thing that many small business owners may not think about is a retirement plan. As a business owner, you may assume that family members will take...
If you have a child graduating from high school or college and entering the workforce, they may have the opportunity to open up a 401(k) through their new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage. While it sounds like a no-brainer to take advantage of these benefits early, less than one-third of employees ages 25 and younger participate in their employer’s 401(k) plan. It’s essential...
Car ownership is necessary for many of us to get around, especially for those who live far from public transportation. While you may choose to drive something practical for your everyday commute, errands and travel, you probably have dreams of driving a car that’s fun, sporty and luxurious. Owning an expensive luxury or exotic vehicle may seem out of reach, but there are financial options available to make your dream a reality. Here are some...
If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other. But retirement is a decision that should be carefully thought out. Here are some things to consider when deciding whether to retire at the same time as...
If you’re over the age of 62 and in need of some extra cash flow in your retirement, you may be considering a reverse mortgage. Borrowing money from your home equity might sound like a good idea, but is it actually a wise move financially? Here are some things to consider when making the decision to take out a reverse mortgage on your home.
The year 2020 was unprecedented for so many reasons—all because of the COVID-19 pandemic. Many suffered from job losses, had to juggle childcare while working from home, and tried to keep their small businesses open with few resources. Thankfully, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) established a business loan program to help keep businesses across the country afloat during tough economic times. You may have already taken advantage of the first...
Nearing retirement age and looking to reduce your expenses? Moving to a smaller home may help you save.
Many older Americans rely on Medicare for their health care needs. But it’s not always easy to figure out what’s covered and how much it will cost. Medicare benefits change from year to year, and 2021 is bringing an increase in premiums for participants. The good news is, there are other ways to save on Medicare costs. Here’s what you need to know about this year’s changes in Medicare. Changes to Part A Medicare Part...
Relationships can be filled with tricky financial situations. Here are some tips on navigating money management as a team.
What exactly is dollar-cost averaging? And how can reverse dollar-cost averaging be risky to those who live on a fixed income?
Thinking about where to invest your money can be overwhelming and confusing, especially for those who are unfamiliar with all options for investing. If you’d like to take advantage of the ease of stock trading with the diversification of mutual funds, exchange-traded funds (ETFs) can potentially give you the best of both worlds. Here are some key things to know about ETFs before investing. ETF Basics Exchange-traded funds are baskets of securities—stocks, bonds, commodities or...
Car ownership is necessary for many of us to get around, especially for those who live far from public transportation. While you may choose to drive something practical for your everyday commute, errands and travel, you probably have dreams of driving a car that’s fun, sporty and luxurious. Owning an expensive luxury or exotic vehicle may seem out of reach, but there are financial options available to make your dream a reality. Here are some...
