The start of a new year is an excellent opportunity to take stock of our lives and resolve to make positive changes. Despite our best intentions, we’ll likely all be back at work, back at the office, back at the gym, back at the gym.
Robo-advisors are online investment management platforms that use algorithms and technology to provide automated financial advice to clients. They often require little to no minimum investment and offer lower fees compared to traditional human, financial advisors. Services offered can range from portfolio management to tax optimization and personalized investment recommendations based on a client’s risk tolerance and financial goals.
Despite frequent reminders, many ignore the need to save separately for retirement. An estimated 33% of Americans have no retirement savings, but more alarming is that 30% of those aged 55 and older are in the same predicament. Social Security is a major contributor to the fact that so few of us save. The National Academy of Social Insurance estimates that about 25 percent of elderly Americans depend solely on Social Security. Although Social Security …
Investing in your financial freedom might win you a tax advantage this year. When filing your federal tax return, you can claim a portion of your contributions to qualified retirement savings accounts (Saver’s Credit). Your eligibility and the amount you are eligible for vary according to your retirement plan, adjusted gross income, filing status, and other variables.
According to some estimates, humans make a staggering 35,000 decisions every day. That equates to about 2,000 options for each hour of awake time. Thankfully, most decisions (such as what to eat for breakfast or what shoes to wear) are made swiftly and spontaneously. However, several decisions in life require a more thorough approach.
Moving forward into the new year, breaking the underlying rule that money is too forbidden to discuss between family members is crucial. Inevitably, family members will need to find common ground regarding financial strategy. What if financial planning involved more than just talking to an advisor? Could it also serve as a springboard for a meaningful dialogue on the family unit’s future as a whole, including grandparents, children, and partners? Financial advisors have been moving …
The real estate investment trust, or REIT, owns, operates, or finances real estate that generates revenue. REITs provide an investment option, similar to a mutual fund, that enables average Americans — not only Wall Street, banks, and hedge funds — to profit from valuable real estate; REITs offer access to dividend-based income and total returns and help communities grow, flourish, and rejuvenate.
The new retirement rules included in the legislation passed by President Biden in December include a few adjustments to necessary withdrawals from retirement accounts that are sure to be well received by the elderly with significant disposable income.
The security of tax returns, credit cards, and other usual targets of cybercriminals has been strengthened. Cybercriminals are now launching sophisticated assaults on workplace retirement plans and plan accounts.
If you’re worried about whether your retirement assets will endure, consider that life expectancy may be a more significant factor than even historically high inflation.