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When To Use CDs, High-Yield Savings Accounts, Money Market Funds And Cash
I recently spoke with a young woman whose goal is to purchase a home in 15 years. She received advice from her friends to place money toward that goal into a high-yield savings account.
She’s not the only young person I’ve seen to consider ultra-conservative investments for long-term goals. In the past couple years, many investors have turned to certificates of deposit, high-yield savings accounts, money market accounts, short-term treasuries, and other very conservative investments for a wide range of far-off goals.
How Married Filing Separately Can Help Put Tax Laws In Your Favor
The married filing separately tax status is, in most cases, less favorable than filing single, married filing jointly, or head of household. It involves recording all income, deductions, and exemptions on entirely separate tax returns. There are some unique cases where filing separately makes sense for one or both spouses, which will be discussed below.
6 Tax Filing Mistakes To Avoid This Season
The new year brings endless possibility, but it also brings us back around to tax season. It can be a stressful time if you haven’t kept accurate records, or it can go by in a breeze if you’ve done all the critical planning throughout the year. Oftentimes, mistakes can come back to haunt you years later when the IRS comes to collect. Here are six tax filing mistakes to avoid.
Here Are All The Taxes In You’re Paying In Your Stock Portfolio
An investment portfolio can be comprised of individual stocks, individual bonds, treasuries, cash, money market accounts, certificates of deposit, exchange-traded funds, mutual funds, cryptocurrency and many others. Because equity investments (company ownership) are taxed differently than fixed income (debt instruments), the broad categories I’d like to focus on are equity-based mutual funds and stocks. Let’s explore the elements of these investment portfolios and how to optimize your tax strategies.
5 Financial New Year’s Resolutions That Help Get Your Money In Order
With the new year approaching, many people are thinking about resolutions like going to the gym, eating healthier, hitting work metrics and getting their finances in order. Thinking about how to get your finances in order can be a daunting task, so I’ve laid out five manageable New Year’s resolutions to consider.
MY BOOK
I seek to make personal financial planning less scary.
This book provides a simple guide for working through life's biggest financial questions facing couples in their 20s, 30s, and early 40s today. It starts with goals-based planning around topics including retirement planning, education planning, and major purchase planning. It then walks through some basics of investment management, options for how to invest, behavioral finance, and pitfalls to avoid. Lastly, it discusses risk management and insurance.
If you are not sure where to start, this book may provide some clarity.