Every year or so, the IRS looks at retirement savings programs and adjusts cost-of-living estimates based on their review. For 2020, they decided to increase contribution limits for 401(k) and other retirement programs. Here is a review of some changes that may impact...
One of my favorite books is Daniel Kahneman’s Thinking, Fast and Slow. He explains that we have two systems of thinking. “System 1” is fast and comes from an emotional response. “System 2” is slow, it is more deliberate and logical. When it comes to making financial...
I recently finished reading The Next Millionaire Next Door by Thomas Stanley and Sarah Stanley Fallaw and found the following quite interesting: WANTED: Household CFO Description: The role of Household CFO is to ensure his/her household is building wealth in order to...
You’ve read several financial blogs, personal finance books, and listened to all the money podcasts you can find. You’re motivated and you’ve been working hard to improve your money skills. But now you’re at that point where you’re ready to take your finances to the...
This amazing retirement account is technically not a retirement account. If you take advantage, however, it can be one of the best places to put your money when saving, especially if an early retirement is on your mind. What I’m referring to is a Health Savings...
With the lowering of marginal income tax rates, the new tax law is actually reducing the cost for investors who decide to convert traditional IRA assets to a Roth IRA. This move may actually save money under the Tax Cuts and Jobs Act, however, this law also eliminated...
