What Is a Money Market Account?
CategoriesAsset Allocation, Fixed Income by

What Is a Money Market Account?

A brand new year is starting and if you learned anything from 2020, it’s that you need to be prepared for those “what-if” scenarios.

Having adequate emergency reserves is important and consider making it part of your 2021 saving goals. You should always strive to have at the very least six months’ worth of your monthly expenses set aside in your emergency reserves.

There are several options that you can choose from if you want to start saving money for emergencies. One of the best and easiest options is using a money market account.

A money market account is a type of interest-earning savings account, and is intended to offer investors high liquidity with a very low level of risk. They are also insured by the FDIC.

Are you trying to open a money market account? Let’s go through how and why to start using a money market account successfully. Read More

Investing vs. Speculating
CategoriesInvestor Behavior, The Stock Market by

Investing vs Speculating

By now, you’ve probably heard about the Gamestop/Reddit saga on Wall Street. Since there’s a Netflix movie coming about the topic, I won’t go deep into detail, but the short version is this:

A group of retail investors (individuals who manage their own investments), noticed and attacked a trend in the stock market. Some people felt that an opportunity arose to play against the large hedge funds and the war was on. It made national news and a ton of money changed hands over the course of a few crazy weeks.

In the end, there were still more losers than winners and life goes on, but what is the real takeaway here? Were all of those people investing or speculating? What is speculating, exactly, anyway? Read More

Financial Tips I Wish I'd Known Sooner
CategoriesInvestor Education, Retirement by

Financial Tips I Wish I’d Known Sooner

Did you know that a whopping two in three families don’t have an emergency savings fund? Is it any wonder, then, that over half (53%) of adults feel financial anxiety?

These statistics are even more relevant in 2021. With the worldwide pandemic and global financial instability, we have a lot to lose. Are you feeling particularly anxious due to your finances this year?

If so, then the following financial tips are for you. Read on to learn some awesome finance facts that you’ll wish you’d known sooner! Read More

Investing For Beginners
CategoriesFinancial Planning, Investor Behavior, Investor Education by

Investing For Beginners

Investing can seem a challenging world to break into, or even understand sometimes. There are ETFs, stocks, bonds, mutual funds, CDs…and who could forget the good ole annuity? However, investing for beginners doesn’t need to be so complicated.

Becoming an investor is simply preparing your money for the future. Whether that’s investing in stocks or moving your money into other investments, your money should be working towards your future. Read More

Why & How to Retire Early
CategoriesArticles/Publications, Retirement, Retirement Income by

Why and How to Retire Early

Are you faced with (or hoping for) an early retirement?

Then you’ll want to do your homework to learn how to retire early without hurting your finances.

According to a study from the Employee Benefit Research Institute, nearly 50% of workers plan on retiring after the age of 65 to collect maximum social security benefits. However, only 19% end up staying that long.

Most of the time, early retirement can be attributed to unexpected events such as poor health, economic downturn, loss of employment, or family issues. However, with the right planning and budgeting, you can retire early on your own terms. Read More

Are Annuities Worth It?
CategoriesAnnuities, Articles/Publications, Retirement, Retirement Income by

Are Annuities Worth It?

Most financial advisors either love them or hate them.

Are annuities the right retirement option for you?

Are you planning for retirement?

If so, you may be thinking, “How do I convert that money I set aside during my years of work into ongoing income?” The financial industry does not suffer from a lack of choices when it comes to investments and, quite often, annuities can be an appropriate option in retirement.

Yet probably no product in existence  generates so many reactions as annuities.

Before you invest in them, however, there are many different things to consider. Keep reading to learn more about what annuities are, the types of annuities, and how to determine if it’s a good investment for your future. Read More

Traditional vs. Roth IRA
CategoriesFinancial Planning, Income Tax Planning, Retirement, Retirement Income, Roth IRA, Traditional IRA by

Traditional vs. Roth IRA: The Pros, Cons, and Everything in Between

Read on to learn the advantages and disadvantages of traditional vs. Roth IRA to make the right decision for your retirement.

 

Planning for one’s retirement is one of the best ways to make sure that you’ll have the means to support yourself and your family when you no longer have a paycheck. And the earlier you start planning, the more prepared you’re going to be.

One of the most important things to know about retirement planning is the difference between traditional vs Roth IRAs. By choosing the right kind of IRA, you could potentially end up saving yourself thousands of dollars.

If you’re interested in learning more about IRAs, then continue reading and we’ll take you through everything you’ll want to know! Read More

CategoriesFinancial Planning, Retirement, Retirement Income, Using A 401(k) by

What Is a 403b and Is It the Right Option For You?

A 401k retirement plan has been a standard part of employee benefits packages since the late 1970s. This type of retirement plan involves withholding contributions from each worker’s paycheck and holding those monies tax-deferred in an investment account until that worker retires. 

Nonprofit, tax-exempt organizations were not able to offer 401k plans to their workers until 1996. Before that year, the only employer-sponsored option for nonprofits and their employees was known as a 403b plan.

The 403b plan is still an option for nonprofit workers and exists alongside traditional 401k offerings. But what is a 403b, exactly, and is it a good investment? Read on to find out.

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CategoriesFinancial Planning, Income Planning, Retirement, Retirement Income, Roth IRA by

What Is a Roth IRA? Everything You Need to Know

Apparently, most Americans are not prepared for retirement. While these people may not be terribly concerned about their future at this point in their lives, many are in for a rude awakening when their income suddenly drops dramatically. 

By having an individual retirement account (IRA), you can diversify your portfolio and prepare your finances for your future. You might not know this, but there are actually two different kinds of IRAs: the traditional IRA and the Roth IRA. 

Read More