As strange as it might sound coming from an Investment Advisor, not every investor needs to hire an advisor. Others might not need an advisor yet, but will need one eventually. Here are some points to consider if you are trying to decide if or when you need an advisor. 1. Have you saved more […]
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IRA & 401(k) Contribution Limits 2015
Traditional and Roth IRA Contributions For 2015, your total contributions to all of your traditional and Roth IRAs cannot be more than: $5,500 ($6,500 if you are age 50 or older), or your taxable compensation for the year, if your compensation was less than this dollar limit. Roth IRA Contributions Roth IRA contributions are limited based […]
Fund Managers Are Not Looking Out for You
Mutual fund managers have the job of managing their mutual funds. They do not have the job of doing what’s best for each individual client. While they are tasked with managing their funds to get the best gain possible within the scope of their fund’s parameters, they are often tasked with being at least 90-95% […]
Dealing with a “Bad” 401(k)
Far too many employees consider their companies’ 401(k) plans to be too bad to participate. This is a mistake. The most common complaint is that the plan doesn’t match their contributions. The lack of employer matching contributions does not turn a good 401(k) plan into a plan that should be avoided. It simply means each […]
10 Signs You Are Not Saving Enough
Some people are naturally inclined to save more for the future. These people are able to focus on delayed gratification rather than impulsive purchases. For the rest of you, here are a few ways to tell if you are not saving enough. If your kids’ allowance is bigger than your monthly savings, you are not […]
Being a Millionaire has Become a Requirement
When I was growing up in the 1970s and 1980s, being a millionaire sounded like a lofty goal, let alone having more than $1,000,000 in investments on top of non-income producing assets like your house, cars, jewelry and art. These days, I understand that saving $1,000,000 is a minimum requirement for anyone who wants to live a […]
How Much Should I Save in My Emergency Fund?
What is an Emergency Fund? Everyone interested in creating financial stability in their lives should strive to have a fully funded emergency fund in place. The main purpose of this fund is to cover your living expenses if you are unemployed. That’s it. After funding the account, you can essentially forget about the money in […]
