This time of year, we often talk with people who are preparing to receive a bonus at work, either about how to make the most of it or how to best handle the taxes, or ideally, both! Depending on your line of work, earning a bonus may come along often or only rarely, but regardless, […]
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Editor’s note: As 2018 draws to a close and we launch 2019, I’ve asked each of our bloggers to reflect on their own personal goals, plans or thoughts on the past or upcoming year. Our hope is that you not only draw inspiration from our sharing over the coming weeks, but also that we are […]
I once talked to a fellow employee at Financial Finesse who wasn’t very happy about our health insurance plan. I was surprised because I love it. It turns out that she just didn’t understand how it worked. We both had a high deductible plan with a health savings account (HSA), a relatively new type of […]
Do you ever find yourself wondering what you should be doing to manage your finances? What’s the right next step? What should you focus on first? Well, you’re not alone. This is a regular conversation I have with people. To help, I’ve created this step-by-step guide to help you get things in order and see […]
It’s safe to say that you will start to hear a lot of talk about New Year’s resolutions over the course of the next few weeks. Since money and wealth are integrated into many aspects of the life journey, it isn’t too surprising that financial resolutions are generally near the top of those well-intentioned “to […]
The new tax law that was enacted earlier this year could mean big changes for your personal tax situation. Before we wind down 2018, it’s wise to take a moment and check that you’re making all the best moves. Here are 7 things to check: 1. Double check your deductions In previous years, taxpayers were […]
You’ve heard the cliché: When it comes to saving for retirement, young people have time on their side. The earlier they start saving, the better. So what would happen if you started saving for retirement at age 22? A lot can happen in the years between, but here’s a look at three different retirement roadmaps […]
Fall is a time of leaves changing colors, children going back to school, families enjoying Thanksgiving dinners, and… open enrollment. Yes, it’s the opportunity for most employees to select which benefits they will choose for the following year. Here are some of the most common mistakes we see people make: 1. Not fully understanding the […]
Retirement means different things to different people. For some, retirement means a second chapter of a “fill in the blank” opportunity. For others, it’s the choice to work or not to work. In any case, retirement is a destination we all aspire to reach. The age we want to reach retirement varies though. The US […]
When was the last time you checked to make sure that all of your beneficiary designations were set up properly? It’s a good idea to take a look after any big life change such as marriage, divorce, birth or death in your family. However, even if no one important has entered or left your life […]
This fall, millions of Americans will face a choice of which health insurance plan to choose during their employer’s annual open enrollment period. Let’s take a look at some of the questions to consider when making this decision: What are the premiums? This may be the first thing you notice and is the only expense […]
I recently wrote a blog post about my decision to sell a rental property. What if you want to invest in real estate without all the risks and hassles of being a landlord? Another option is to invest in a REIT (real estate investment trust), which is kind of like a mutual fund for rental […]
If you are the parent of a college-age student or will be someday, you have a new best friend with an unusual name, and her name is FAFSA. FAFSA and I go way back. My relationship with FAFSA I first met her decades ago when I was preparing to launch my own college career, and […]
Are you overlooking the real value of your benefits when you think about your compensation? Probably. According to a recent report, employer-paid benefits improved wages for private industry workers by 46.6% ($11.50 average benefits costs for average wages/salaries of $24.72 per hour). Did I mention that most of those employee benefits are not taxable to […]
Early retirement is a very common goal, although how exactly do you define “early?” For most people, early means stopping work before the availability of benefits that are used by retirees like Social Security and Medicare. Uncertainty over whether retirement savings can stand up to several years without these programs is often the reason people […]
It is clearly graduation season — the proud parents, gowns, and decorated mortar boards are filling my social media feeds. My favorite part of the season are the inspiring commencement addresses. While the ceremonies are filled with optimism about the future, many of this group of graduates will walk away from the festivities with a […]
If you’re a Millennial, you’re probably familiar with various “life hacks” to make life easier. Why not do the same with your finances? Here are four hacks you can use to easily get more from various financial assets: 1) Use a Roth IRA for emergency savings When you’re early in your career, you may not […]
One of the more common questions we receive as people prepare for retirement or just get close to paying off their homes is whether they should pay it all off early or keep paying on it to keep the tax deduction. Here are several reasons why this is a classic case of letting the tax […]
Whether you are still trying to get your tax information organized to meet this year’s income tax filing deadline or using this time of year as a proactive start to your tax planning efforts based on the new tax law, here are a few tips to help make the most of that time. When you’re […]
I recently received a question after one of my workshops from a woman who was wondering if she made a mistake paying her mortgage off early because she no longer has the mortgage interest deduction. I can’t tell you how many times I’ve gotten different versions of that same question (including after a later workshop […]