Why Save to a Dependent Care Flexible Spend Account (DCFSA)?
Among the list of savings accounts offered by an employer (FSA, HSA, 401(k), etc.), the Dependent Care Flexible Spending Account (DCFSA) can be a powerful tool for parents. It is a tax-advantaged account designed to pay for childcare expenses. The DCFSA allows you to save up to $5,000 pre-tax money in 2024. You can then […]
An Investment Adviser’s Value Proposition: When and Why Do I Really Need a Financial Adviser?
At what point should you hire a financial adviser? People often assume the answer to this question is largely based on the size of their portfolio. Once your portfolio has reached a certain size, either the job becomes too daunting or complex or the risks of making a wrong move carry too much weight. In […]
ROBS – A Unique Alternative for Starting or Buying a Business
One of the key decisions when starting or buying a new business is how to fund the purchase or start-up. There are a lot of alternative ways to accomplish this task including: Using your own after-tax funds to provide the necessary capital Getting a loan through a traditional bank Applying for a loan through the […]
Finding An Investment Advisor
What Is a Financial Advisory Firm? Finding the appropriate financial professional for your personal situation can be a challenge. Part of that challenge is due to all the terminology and jargon used to describe financial advisors. For example, what is the difference between an investment advisor, financial adviser, financial planner, wealth manager, broker, etc.? In […]
What Are My Options for My Old Employer Retirement Plan?
Have you changed jobs in the past and now find yourself trying to manage multiple employer retirement plans, i.e., 401(k) or 403(b) accounts? If you answered yes, there are a few different options for what you can do with those old employer accounts. You will need to analyze a few factors which should help you […]
Choosing a Retirement Plan for My Small Business
As an employer, you can play a vital role in helping your employees save for their retirement. Most people will need between 70 and 90 percent of their preretirement income to maintain their standard of living in retirement. These days, retirement can be 30 years or longer. By establishing a retirement plan, you can help […]
IRS Form 1099-K – The New Reporting Rule
Unless Congress acts this year to change the rule it enacted with the adoption of the American Rescue Plan Act of 2021, more information reporting will be required of certain third-party payment networks. Beginning this year, payment card companies, payment apps and online marketplaces such as PayPal, Amazon, Venmo and eBay, must file IRS Form […]
Is Leverage Good?
Leverage is a powerful force that is deeply rooted in our society. It has facilitated the build-out of communities, contributed to the expansion of businesses, and led to countless booms and busts in the economy. While there are many places where leverage has done good, that doesn’t tell the full story. What Does Leverage Mean? […]
Average Returns are Anything but Average
Today, we will deconstruct a common myth about market returns. Before I get started, I recently addressed some common investor mistakes and how to avoid them. If you missed them or would like to reread them, you can do that by simply clicking here, here, and here. Do you know what the average price return […]
Financial Habits and Lifestyle Creep
In our last blog, we encouraged you to start the new year off right by setting a few financial goals for yourself. Setting personal financial goals is so important, but, just like fitness goals, they can get pushed to the back burner of life. Time moves quickly. In the blink of an eye, you have […]