With the holidays right around the corner and the end of the year fast approaching, the last thing you want to do is blow your budget on fall activities. Between fall sports, Halloween, and fall travel, the costs add up…and it’s too easy to overspend.  ..read more

In the ever-evolving landscape of data security, the recent and alarming cyber crisis has left millions of Americans reeling.  This particular data breach included PII (personal identifiable information), including Social Security numbers of almost 3 billion people. In response to this data breach, New York ..read more

Given the increase in the cost of retirement, it’s no wonder many are worried they are behind on 401(k) savings. According to the Northwestern Mutual 2024 Planning & Progress Study, “American adults say on average they now need $1.46 million to retire. That’s 15% higher ..read more

Early 401(k) withdrawals are soaring. According to the Vanguard Group, “A record-breaking number of Americans are making emergency withdrawals from their 401(k) retirement plans in order to cover a financial hardship amid the ongoing inflation crisis.”¹ Approximately 3.6% of workers participating in employer-sponsored 401(k) plans ..read more

It is natural for a parent to want to help their children financially, but helping kids financially isn’t always the best decision. You may end up hurting them more than helping them – especially if you dip into your retirement savings. While it is understandable ..read more

Saving for your financial future requires more than the bare minimum. Given the cost of today’s retirement, it’s worth doing what you can now to maximize your 401(k) contributions. Why 401(k) Contributions Are Essential for Retirement Retiring isn’t cheap. Once you stop working, you are ..read more

Despite a brief 6% correction in the latter part of the first quarter, the stock market has shown resilience and growth in the first half of 2024. Keep reading for factors contributing to this and what you need to know. Federal Reserve’s Stance on Interest Rates The market’s performance has been driven by the anticipation of interest rates finally coming down.  With stubborn inflation indexes like the Consumer Price Index (CPI) showing signs of easing over the last 3 months, Federal Reserve Chairman Powell has expressed increased confidence in the potential for monetary policy easing.&n ..read more

Women are saving less for retirement than men – and not just by a little. Prudential’s 2024 Pulse of the American Retiree survey found, “Across all age groups, women are particularly vulnerable, with less than a third the median savings of men. They are nearly three times as likely to delay retirement due to caregiving duties.”¹ Take a look at the following recent stats that show women are saving less. “Men had saved a median of $157,000 for retirement, women had only set aside $50,000.”²  “46% of men surveyed said they were looking forward to retirement and had more plans, compared wit ..read more

When it comes to investing for your financial future, understanding the tax consequences is important to growing wealth.  Because it’s not just what you make, it’s what you keep, that counts.  How tax savvy are you with regards to your 401(k)?  Are you aware of the 401(k) tax implications on withdrawals? Or the real benefit of growing your savings tax-deferred?  Keep reading for more on 401(k) tax implications and how they may or may not impact your future.   #1 Tax-Deferred Contributions Contributions to a traditional 401(k) are made before taxes are withheld, which ..read more

While we are all about celebrating the birth of our great nation, we don’t believe you should spend a lot of money (or go into debt) celebrating it. But that wasn’t the case in 2023. Americans spent more than ever. “Total consumer spending [for 2023’s] Fourth of July holiday is expected to reach $9.5 billion, up from $7.7 billion in 2022 and $7.5 billion the year before, according to the National Retail Federation’s annual Independence Day consumer survey. The 23% jump in spending is the most growth recorded by the survey.”¹ In a time when social media reigns supreme, it can be easy to get ca ..read more