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.
Financial stress is no joke, and the anxiety you feel about your money can be crippling. If you're starting to experience financial stress, try these 5 tips.
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!
A Traditional to Roth IRA conversion can be a valuable strategy under the right circumstances. Learn the basics about Roth IRA conversions and how they work so you can know if it is a strategy you should be considering.
Making time for family can be tough with so many other obligations to work, school, home maintenance, just to name a few. Our family has found that just like in other areas of life that setting goals and being "intentional" not only helps us get more done together, but gives us a lot to look forward to!
An Investment Policy Statement (IPS) allows you to make investment decisions before markets get volatile. Your IPS helps take the emotion out of investing by establishing clearly defined rules around your portfolio. Checking your IPS regularly and rebalancing back to your targets can help you take advantage of market movements.
Recency bias is the tendency to place too much emphasis on recent events in our decision making. Investors can find it difficult to detach emotion from our investing decisions. Work with a financial planner to help navigate rececny bias and establish and investment policy for your accounts.