Roth IRA

When Americans reach retirement age, it is expected that they will file for Social Security, which pays a reliable monthly benefit for the rest of their life. The program, created by President Franklin D. Roosevelt as part of the New Deal in 1935, was regarded as an effective anti-poverty program for elderly Americans, and quickly became one of the most popular government … [Read more...] about Social Security Isn’t Enough: Americans Should Invest in a Roth IRA

.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..........My parents were frugal people.This was fortunate because neither had an employer-sponsored retirement plan. My father was an electrician and my mother a nurse. Beginning in the 1970s, … [Read more...] about Should billionaire get to invest wealth in Roth IRA? » Albuquerque Journal

When it comes to money management, the COVID-19 pandemic changed people’s habits and budgets in varying ways. From stimulus checks and expanded unemployment benefits to reduced commuting expenses, many people experienced some degree of shifting in how they accumulated, spent and saved money.For those who’ve consistently found that they have extra money after taking care of … [Read more...] about KNOWLEDGE CENTER: Are you left with extra money each month? Here are some options to use it wisely [Column] | Business

As a general rule, the younger you are when you start investing, the easier it is to wind up with a decent pile of money later in life. This is because compounding has more time to work its magic, giving those earlier dollars the chance to double that many more times along your journey. The incredible value that comes from starting early raises a key question: exactly how young … [Read more...] about Can You Really Start Investing As a Teenager?

Conventional wisdom says that the sooner you start saving and planning for retirement, the better. And that totally makes sense. Thanks to compound interest, the earlier you start stashing away money, the easier it will be to build a stronger and more studier nest egg for retirement. And, if you experience a financial setback, you have more time to bounce back. Annuities are … [Read more...] about Should You Buy An Annuity in Your 20’s?

The year is already halfway over, but it’s never too early to start thinking about ways to reduce your tax bill. Early planning can help make a significant difference in what you will owe come tax time. Here are some options to consider when preparing to reduce your taxes.Review your tax withholdingIf you work for an employer, you will have completed a W-4 form. This advises … [Read more...] about Tax Saving Tips for the Rest of the Year

Q: What is the new child credit for 2021? A: Each child will receive a $3,600 credit if under age 6 and $3,000 if age 6 to 17. Families will get advance credits in their bank accounts starting July 15th at a rate of $300 per month if the child is under age 6 or $250 per month if age 6 or older. The advance payments will total 1/2 of the child credit and the other 1/2 will be … [Read more...] about What is the new child credit for 2021? – The Oakland Press

If you’ve got more bills than money, the usual advice is to trim expenses and find additional income. But some ways of raising cash can be a lot more expensive than others. Here are four that should be avoided, if possible, and what to consider instead.Beware raiding a retirement planA big chunk of the money contributed to retirement plans leaks out as hardship withdrawals, … [Read more...] about 4 cash-raising pitfalls (and better options)

A roundup of the latest news and reports of interest to financial advisers.Biden’s nominee to head EBSA reflects aggressive rulemaking agenda: Lisa Gomez's career is rooted in ERISA, and her keen understanding of the law would help the DOL as it seeks to implement new rules, lawyers said in this InvestmentNews report.Congress urged to act on numerous retirement system changes: … [Read more...] about Retirement Legislation, Crypto: News of Interest to Financial Advisers

If asked to list your retirement expenses, you'll probably remember housing, food, transportation, and even recreation. But there's a lot more to retirement costs than just these everyday things. Irregular expenses -- those you only pay once or twice per year or every few years -- are important, too, but can easily slip through the cracks. One, in particular, can derail your … [Read more...] about This Overlooked Expense Is Waiting to Gouge Your Retirement Savings