Financial Planning
Arguing
Today, it seems like everybody is arguing about everything — and with perhaps somewhat more energy than years ago. It turns out that most of us are going about our arguments incorrectly.
Most of the arguments happening now involve two individuals articulating their points in an effort to convince another individual — while hardly listening to […]
What Are Some Strategies for Paying Off Credit Card Debt?
Nowadays, it’s easier than ever to get caught up in the cycle of credit card debt. In fact, it’s become a growing problem for many Americans. According to the Federal Reserve, total U.S. credit card payments reached 111.1 billion in 2016, up 7.4% from 2015. 1
If you find that you are struggling to pay down […]
What Are Some Tips for Creating a Budget and Sticking to It?
It’s a common problem for many individuals — wondering exactly where your paycheck goes each month. After paying expenses, such as your mortgage, utilities, and credit card bills, you may find little left to put toward anything else.
Creating a budget is the first key to successfully manage your finances. Knowing exactly how you are spending […]
The Standard Deduction and Itemized Deductions After Tax Reform
The Tax Cut and Jobs Act substantially increased the standard deduction amounts for 2018 to 2025. It also eliminated or restricted many itemized deductions for those years. You can generally choose to take the standard deduction or to itemize deductions. As a result of the changes, far fewer taxpayers will be able to reduce their […]
Government Report Details Household Finances
Every three years, the Federal Reserve sponsors the Survey of Consumer Finances (SCF), which collects information on the financial state of U.S. households. The survey is one of the nation’s primary sources of information on the financial condition of different types of households. Here are a few interesting observations gleaned from the most recent surveys […]
Budget Deal Impact On Medicare
Several items that the media seems to be overlooking in the recent budget deal are potentially noteworthy changes in how Medicare is administered. One item is the removal of Medicare’s independent payment advisory board, authorized under the Affordable Care Act, to function as a check on higher Medicare expenses. Some had previously […]
Irregular Inflation
You are often told that inflation is the worst enemy for your long-term financial well being. Inflation gradually lowers the value of your retirement dollars, and that’s the reason, if your cash sits under your mattress, it is going to purchase less once you remove it.
But inflation is not a […]
Another Medicare Part B Increase for Higher Income Retirees
Once again, Washington is taking more from retirees with higher incomes. After a retiree reaches a certain income level, retirees have to pay an income-related monthly adjustment (IRMAA). Prior to this year, this adjustment started for individuals with $214,000 a year. Starting in 2018, the threshold goes down to $160,000. At […]
Weathering the Storm: Are You Prepared?
Severe weather can test even the most seasoned homeowners. And while storm hazards such as power outages, downed trees, and flooding can result in costly damage to your home, they can also put your family’s safety at risk. The key to making it through a storm safely is to be prepared.
Protect your home
Before a storm […]
What’s Your Money Script?
Money is power. A fool and his money are soon parted. A penny saved is a penny earned. Money is the root of all evil.
Do any of these expressions ring true for you?
As it turns out, the money beliefs our families espoused while we were growing up may have a profound effect on how we […]
