Sudden drops in the stock market can leave you with negative returns. Volatile markets can present opportunities for tax-loss harvesting - selling stocks at a loss to allow you to claim the loss for tax purposes. Read on to learn more about tax-loss harvesting and some rules to be aware of before engaging in tax-loss harvesting transactions.
Defining the "why" behind your financial plan will make it much easier to create, implement, and stick to your financial plan. Your purpose helps shape your plan and serves as a guide through difficult decisions and challenging markets. Take the time to develop the "why" behind your financial plan before you switch focus to the "how".
There is a saying that "Diversification is the only free lunch we get in investing," but what does diversification mean? What is the effect of diversification on your investment portfolio, both positive and negative? How can you achieve diversification, even if you are just starting out with a small amount to invest?
While student loans are very common, most find it hard to stay on track when paying them back. Refinancing may seem like a good option, but make sure to educate yourself with these 10 must-know facts before making any decisions.
Much gets made about investing in the stock market – with good reason! Long-term investing in a wide range of stocks and other investments is one brick on the path to long term success. Buying stock provides a share of ownership, and a stake in the company’s future earnings. Understanding what investment ownership represents is the first step to better, more informed investment decisions.
Many workers have access to both a 401(k) and an IRA and the question comes up “which one should I fund?” While the answer is often nuanced (like everything financial planning) and will not be the same for everyone, understanding some of the basic differences and pros and cons of each account can help you sort it out. Asking yourself these five questions can help you determine where your next dollar of retirement savings should go.
Why understanding what "Paying yourself first" means and doing it, early in your savings career, can make such a monumental difference long term.
You finally decided you would like to begin working with a financial planner. Knowing what to expect when you meet a potential advisor for the first time can relieve the butterflies and make it a great experience for you and the advisor!