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Category: Financial Planning

New Required Minimum Distribution Rules for 2022 - May. 01, 2022

New Required Minimum Distribution Rules for 2022Starting in 2020, new legislation increased the age to begin Required Minimum Distributions (RMDs) from 70½ to 72. More recently, the IRS updated the Uniform Life Table for alignment with longer life expectancies. Note that it takes years for actuaries to work up new data for this table, and the recent changes do not reflect […] read more

Give a College Savings 529 Plan For Graduation - Apr. 01, 2022

Give a College Savings 529 Plan For GraduationIf you really want to make impact in your new grad’s life, make an investment in his or her future with a 529 College Savings account. There are two versions: an investment account and a prepaid account. Assuming you are opening an account now and don’t have time for investment growth, you may need to […] read more

How To Maximize the Potential of Your 401(k) Plan - Mar. 01, 2022

How To Maximize the Potential of Your 401(k) PlanOne of the easiest ways to save for retirement is to participate in an employer-sponsored retirement plan. You simply select a percentage of your paycheck that you would like transferred to your 401(k) (or similar) account. Not only does your employer make the transfer for you, but it comes out of your paycheck before income […] read more

Create a Healthcare Plan for Retirement - Feb. 01, 2022

Create a Healthcare Plan for RetirementIf you pay $250 a month for cable and premium channels, that’s $3,000 a year. Over a 30-year period, the total cost would be $90,000. We don’t tend to think about how much we pay in regular expenses over the long term. However, that’s how various industry analysts report the cost of healthcare during retirement. […] read more

Long-Term Investment Opportunities Presented by the Infrastructure Bill - Jan. 01, 2022

Long-Term Investment Opportunities Presented by the Infrastructure BillIn November, President Biden signed legislative funding that represents the largest transportation spending package in U.S. history. The $1.2 trillion Infrastructure Investment and Jobs Act authorized funding for roads, highways, bridges, public transit systems, utility systems, electrical grids, energy projects and broadband infrastructure. Because the funding extends over a five-year period, it should not have […] read more

Venture Capitalism and 'Unicorns' - Dec. 01, 2021

Venture Capitalism and 'Unicorns'Venture capitalism comes from an investor who offers money to start-up companies in exchange for an equity stake – much like you see on the ABC television show, Shark Tank. As a general rule, a venture capitalist (VC) invests after the new venture is up and running and looking for additional capital to further commercialize […] read more

Flood Insurance: Insuring Your Home - Nov. 01, 2021

Flood Insurance: Insuring Your HomeDid you know that homeowner’s insurance doesn’t cover flood damage? Because of this, homes located in a Special Flood Hazard Area (SFHA) are required by lenders to purchase a separate flood insurance policy. However, there are millions of homes at risk that also experience periodic flooding but are not located in the most hazardous zones. […] read more

Strategies for Paying Off Student Loans - Oct. 01, 2021

Strategies for Paying Off Student LoansToday, 70 percent of college students graduate with an average of $30,000 in student loan debt. The average payment is nearly $400 a month and will take about 20 years to pay off. On an individual level, paying off high debt can delay hopes of saving to buy a house, start a family, launch a […] read more

HSA: Save it for Retirement - Aug. 01, 2021

HSA: Save it for RetirementAccording to Fidelity Investments, the average 65-year-old couple retiring today will need about $300,000 for out-of-pocket healthcare expenses during retirement. And that doesn’t even include long-term care. One way to help pay for this enormous cost is to open a health savings account (HSA), which is a savings and investment vehicle designed to help people […] read more

Wishing on a Star: Investors Pour Billions in to SPACs - Jul. 01, 2021

Wishing on a Star: Investors Pour Billions in to SPACsA SPAC is a special purpose acquisition company. It is typically sponsored by a venture capitalist or a private equity firm that has expertise in a specific sector or industry, such as green technology. A SPAC launches as an IPO, but it is nothing more than a shell company that raises money from investors. Post-IPO, […] read more