Should I Consolidate my Student Loans?
One of the largest debt discussion points in the media currently is student debt. With student debt at an all-time high, over 50% of students are graduating with student debt. Per Investopedia, the average amount of student loan debt per borrower is slightly above $35,000. A common dilemma for graduates with multiple student loans post-graduation […]
Changing Dynamics in the Discount Brokerage Industry
We live in a time where investors have never been more cost conscious about the fees they are paying and some of the recent changes in the discount brokerage industry reflect this distaste for fees. In early October 2019, Charles Schwab was first among the major discount brokerage firms in the race to the bottom […]
The Importance of Talking to Your Children About Money
Last week, my 11- year old son decided to throw a football across his bedroom resulting in a hole in the plaster wall. This created the perfect opportunity for me to give him one of my infamous money lectures! I informed him that our local handy man charges an hourly rate of $40, and while […]
Tax Reform 2018 – Where do we Stand
As we approach the end of another year, we are close to being two years into the Tax Cuts and Jobs Act (“Act”) that was passed late in 2017 and became effective on January 1 of 2018. The Act made significant income tax changes including lowering income tax brackets and increasing standard deductions. As with […]
Ways Parents Can Save Money on Taxes
Parents know first-hand how expensive it is to raise a child. New or expectant parents are often shocked and unprepared for the costs. To soften the blow, it helps to know there are provisions in the tax code that offer cost savings to parents, specifically, Dependent Care Flexible Spending Accounts and Child Tax Credits. Dependent […]
Lending Money to Family and Friends
Many people in this world do not have access to personal loans such as mortgages or automobile loans for one reason or another. This may be because they have no credit or because they have bad credit and can only obtain a loan with an above-market interest rate attached to it. In these cases, people […]
The QHFD- What, Who, How and Why
We have lauded the benefits of Health Savings Accounts (HSAs) many times in past blogs. They can boost your retirement savings and be a great resource to cover medical expenses in retirement. In fact, a recent article in Forbes touts these savings vehicles as perhaps the best retirement planning tool available. A recap of the […]
Should I Refinance my Home?
With a long-term home mortgage, interest rates matter. Rates on home mortgages have dropped about 20% in the last year, making this a good time to look at your mortgage to see if you can save some money. With rates at less than one-half their long term average of about 8%, homes have never been […]
HSA Portability- Bring your HSA With You!
If you read our blog titled The Long Term Power of the HSA, then you know that we are big proponents of Health Savings Accounts (“HSAs”). By taking advantage of all that HSAs can offer, you can really propel your savings forward and rest in peace knowing you have a plan to tackle your looming […]
Credit Scores: The 3 Keys to Understand
What is a credit score? A credit score is a three digit figure that is intended to measure the likelihood an individual will repay debt and credit obligations. The credit score system was created to simplify the process of obtaining credit. Consequently the score provides a standard, objective measure that can easily compare borrowers. Before […]