The Internal Revenue Service (IRS) announced 2020 contribution limits for retirement plans and other related items. The most noteworthy highlights of limitations that changed from 2019 to 2020 include the following: The contribution limit for employees who participate in 401(k),…
Category: Saving
How Great Is Dollar Cost Averaging? You Don't Know The Half of It
I’ve mentioned on a number of occasions that the S&P 500 has been nothing short of disappointing since the turn of the century. I hope that every single reader who is still adding money to their investment portfolio on a…
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What's In a Comprehensive Financial Plan
Are you on the right financial path? When will you be able to retire and what financial adjustments would be advisable for you to reach your goals? Our comprehensive financial plan reviews multiple aspects of your current finances and your…
Tuning Out the Noise Leads to Greater Wealth
4 Traits of the Financially Savvy
The most financially savvy people aren’t afraid to ask for advice; they know their own strengths and weaknesses, and are also good at setting goals and priorities. Here are four traits that those who are shrewdest about money have in…
Social Security + RMDs – An Almost Perfect Retirement Income Source
When corporations moved from pension benefits to 401(k) plans, workers had to become the financial planner, investment manager and actuary in order to successfully plan for retirement income.
2019 Retirement Plan Contribution Limits
The IRS announced on Thursday that the limit on elective deferral for contributions to 401(k) plans, 403(b) plans, most 457 plans, and the federal government’s Thrift Savings Plan will increase from $18,500 in 2018 to $19,000 for 2019. However, the…
Why Investors Need a Long-Time Horizon
Returns from stocks can vary greatly from year to year, and as in the case of 2018, month to month during the year. Over short periods of time (monthly, quarterly, yearly) the returns from stocks can range from up 53%…
Nothing Undermines Your financial Judgement as the Sight of Your Neighbor Getting Rich
A recent study of lottery winners shows that the classic "keeping up with the Joneses" can lead to bad financial outcomes. Something we all knew, but what was unknown is the subconscious effects it can have on our behavior. Link:…
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Compounding – Small repeatable actions that have outsized effects.
“Money makes money. And the money that money makes, makes money” – Benjamin Franklin Compounding is repeated actions that build on each other to produce results that are dramatically larger than you might expect. Compounding is used in saving and…
Read More Compounding – Small repeatable actions that have outsized effects.