Browsing Tag:investments

I contributed to a Roth IRA, but make too much money. What do I do now?

The IRS specifies that you can only contribute to a Roth IRA if you make under a certain income limit. For 2022 you can make a full contribution if you are: Single and make under $129,000 or married and make under $204,000. You can make a partial contribution if you are: Single and make under $144,000 or married and make under $214,000. What if you made a contribution already earlier in the year and then made more than you expected…

What to do with Company Stock in your Retirement Account (Net Unrealized Appreciation)

It is not uncommon to be awarded company stock in your retirement account. When this happens and it becomes time for you to retire, there are certain moves you can make to achieve better tax outcomes. This is often referred to as “net unrealized appreciation” planning. Here’s how it works. When you are awarded company stock in your 401(k) it tends to appreciate over time. Let’s say you were awarded stock when it was $7/share 30 years ago and now…

5 Smart Money Moves for the New Year

With the new year comes new opportunities, new goals, and a fresh start. What a great time to get your finances back on track or do a little adjusting to make sure your financial house is in order. Here are 5 smart money moves you can make right now to kick off this year in a great way. Refinance your mortgage if you haven’t already taken advantage of the great interest rates right now. Rates are at all-time lows. My…

A Good Retirement Game Plan

Many retirees are not adequately prepared to handle retirement. They go straight from 40-hour work weeks to not knowing what to do. After a month or two of working on delayed house projects, they settle into a Netflix-induced coma. The lack of physical and mental stimulation can cause cognitive and physical impairment, which leads to further mental and health declines. In order to avoid these common pitfalls in retirement, you will need a game plan. This will be one of…

How To Build A Good Investment Portfolio

investment portfolio

A good handyman has many tools on his belt and even more in his truck. He can complete various jobs with these tools, but different tools have different functions. For some jobs, he will need a screwdriver; other times, he’ll need a hammer, saw, paintbrush, or lawnmower. Your portfolio is the same way. You will have many assets in your investment toolbelt such as stocks, bonds, mutual funds, CD’s, government bonds, and ETFs. Within these you will also want to…

Four Ways To Maximize Your Retirement Savings Right Now

Retirement Plan

If you are receiving wages, tips, or salary, then you’re earning income. You should be contributing to your retirement plan, whether it’s sponsored by your employer, or yourself as a small business owner. Whether you’ve been in the workforce a while or you’re just starting out, it’s never too late to improve your saving and investing habits. Here are 4 steps you should be taking to maximize your savings and grow your wealth, preparing you as much as possible for…

How to Invest in the Stock Market

stock market

A commonly known investing philosophy is to buy low and sell high. When it comes to the stock market, however, many investors do exactly the opposite. Why do they make this common mistake? The tendency for many people is to want to get in on stocks when they are rising and cash out on them when they are falling. The psychological factor behind this is the investors’ fear of missing out on a good thing. They would rather buy stocks…