Choosing a health insurance plan can be difficult. Many employers offer PPOs (Preferred Provider Organizations) and HDHPs (high deductible health plans). When considering an HDHP vs. PPO, each option has pros and cons.
How do you determine which is better, a PPO or HDHP? To help you decide, let’s review the essential factors in health insurance costs and break down the differences in PPO vs. HDHP.
Read MoreWe're currently experiencing one of the strongest economic recoveries in generations. Despite some reasons to feel concerned about the future -- be they political, humanitarian, other otherwise -- you probably have even more reasons to feel optimistic about your finances right now.
Which makes right now an excellent time to make some smart money moves that either help you take advantage of the healthy economy or prepare you for the point in the future when the tides inevitably change.
Read MoreYou’ve likely been doing your own money management all your life, so taking a DIY approach seems like it makes sense. So, should you use a financial advisor or do it yourself?
Working with a financial advisor is a big decision. But reacting to things after they happen won’t be enough to achieve big financial goals or grow significant wealth.
Instead, take a proactive approach to actively seek ways to accomplish what you want. It’s what successful people do — even people at the top of their game need backup to help them reach their goals.
Read MoreMany Americans significantly increased their savings — the Federal Reserve Bank of Kansas City found that savings rates nearly quadrupled in the past year
This has lots of people asking themselves, “What should I do with extra cash?”
Read MoreYou’ve heard it said that higher risk could yield a higher reward, and margin loans are no exception. A margin loan can increase profit, but it also comes with many drawbacks. Even the pros can get it wrong!
But it isn’t right for everyone. Our focus is going to be using margin loans in opportunistic uses as part of your financial plan. Here’s what you need to know before taking the plunge into a margin loan.
Read MoreA 401(k) loan can be a quick way to get some cash. When you’re in a financial pinch, it is a low-interest alternative to using a credit card or personal loan. You might use the funds to pay bills, cover a big purchase, or put a down payment on a house.
However, 44% of people who’ve borrowed against their retirement savings regret the decision, according to TIAA-CREF.[1] If you’re considering a 401(k) loan, here’s what you need to know about how it works and how the temporary 401(k) loan covid rules from the CARES Act could impact you.
Yet 44 percent of those who have borrowed against their retirement plan savings regret the decision.
Read MoreThe good times continue to roll for investors. Stocks, bonds, and commodities saw widespread gains this quarter. The S&P 500 has seen 34 new all time highs since the start of the year and the market is up 92% from its March 2020 lows. The explanation for these stats is simple. The US economy is seeing an economic recovery unlike anything that we have seen before.
Read MoreThe child tax credit for tax year 2021 could give you an extra $3,000 to $3,600 per qualifying child. Here’s what you need to know.
Read MoreWhen planning for your future, there is always some confusion about balancing savings for multiple goals simultaneously. The major dilemma falls on parents when contemplating whether they should allocate their savings dollars towards future retirement dreams or start socking away funds to pay for their child’s college tuition bills. While sorting out these two competing priorities can feel overwhelming at first, we’ve laid out 5 rules to follow when faced with this tough decision.
Read MoreThe rising costs of college is a topic that most parents grind their teeth thinking about when it comes up. CNBC reported that the value of student loans parents are taking on for their kids has skyrocketed in recent years. In financial planning discussions with parents, I find we spend most of their time discussing their children's education over just about any other topic. The reasons are clear parents want to give their kids every opportunity at success.
Read MoreLearn how to tell your money where to go instead of wondering where it went – the difference between budgeting and cash flow mapping.
Read MoreThe "Everything Rally" continued into 2021 with most asset classes moving higher. Broader stock market indexes like the S&P 500 and Dow Jones Industrial Average closed the quarter at or very near all time highs.
Read MoreOffering restricted stock units (RSUs) is a common way for employers to extend stock-based compensation to their employees. More employees are starting to see RSUs as part of their overall compensation arrangement. Receiving RSUs or stock-linked compensation is a sign that things are going well in your career!
Read MoreEmployee stock purchase plans (ESPP) give plan participants the ability to purchase shares in their company stock at discounted rates. ESPPs, sometimes called Associate Stock Purchase Plans or other branded names, are overlooked but are a smart way to invest. You could be leaving thousands of dollars in free money on the table by not taking advantage of your company’s plan.
Read MoreIt’s probably no surprise that the number one cause of stress for any marriage is money. To prevent unneeded financial stress, you and your partner must focus on practical ways to manage your family finances. Luckily, we’ve outlined 5 simple money habits that can lead couples towards a harmonious financial partnership.
Read MoreYou do the absolute best you can for your kids. You work hard to support them, and a significant chunk of the household budget is dedicated not just to their needs but countless other things that may give them a boost in life. And yet, there are times when your kids tell you that somehow, it's not enough. That they're missing out (and it's your fault). They don't have as much as their friends; they don't get to do as much as the neighbors.
Read MorePeople often think they have terrible luck. If you search on Google for the unluckiest person in the world, you can find a lot of very bizarre stories. One that I found interesting is from a town in Spain. Each year there is a Christmas time lottery run by the Spanish government called “El Gordo,” where the jackpots now reach over a billion dollars.
Read MoreOne of the trickiest biases to navigate when it comes to managing your finances is known as complexity bias, or the human tendency to “give undue credence to complex concepts.” In other words, we’re more attracted to complicated products and solutions…even when the simpler approach would serve us better.
Read More2020 ended the year with a bang. This was likely from two things; strong returns from the financial markets and most of us slamming the door on 2020! Stocks ended the year on an upbeat note despite the economic headlines and persistence of COVID 19.
Read MoreIt’s not just the money you make that determines how wealthy you are. Your mindset around the money you earn, use, and keep plays a huge role in how successful you are at using that money well, and feeling satisfied both with your finances and your life as a whole.
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