Mutual Funds

By Nancy Collamer, Next Avenue Women of Color (WOC) are one of the fastest-growing demographics in corporate America. Yet despite their growing presence, many still struggle to flourish in the workplace. As the first Indian American woman to make partner at global services firm Deloitte, Deepa Purushothaman knows how challenging it can be for “the

During the working years, you pay a lot of taxes for Social Security and Medicare, but you later receive a lot of benefits. Over a lifetime, do your benefits equal or exceed the taxes? Your Social Security and Medicare taxes don’t go into separate accounts in your name the way 401(k) contributions are. That makes

Social Security is a significant part of their retirement income for many Americans. Depending on your overall household income, you may owe taxes on your Social Security benefits. Furthermore, your state of residence will determine the amount of taxes you will owe on your Social Security benefits at the state level during retirement. If it

Topline A majority of Wall Street’s biggest firms have recently been slashing their S&P 500 forecasts for this year, predicting lower stock market returns as the Federal Reserve raises interest rates to fight surging inflation and also warning about the economic impact from Russia’s invasion of Ukraine. Key Facts Barclays is the latest major firm

As you age, chances are good that you don’t intend to make any decisions that will frustrate or anger your adult kids, put them at odds with their spouse or partner, or even cause a permanent rift among extended family. But mix neglect with procrastination, and you’ve got a perfect recipe for a financial or

When I started my career, a common refrain I heard was not to work with physicians. They were touted as difficult clients who asked too many questions and thought they knew everything. As I complete my 15th year in the wealth management business, I can attest to the fact that that couldn’t be further from

On Monday, the U.S. Securities and Exchange Commission (SEC) proposed a new rule that would require companies to disclose some of their greenhouse gas emissions in a standardized way, and to explain to investors how climate change could impact their financial performance. According the National Oceanic and Atmospheric Administration, extreme weather events in the United

Instead of fretting about falling markets, consider whether they are an opportunity to convert all or part of a traditional IRA or 401(k) plan to a Roth IRA. Lower investment prices can reduce the cost of converting assets into tax-free Roth IRA assets. When all or part of a traditional IRA or 401(k) is converted

Topline Stocks have been flirting with correction territory in recent months–and though the tech-heavy Nasdaq Composite dipped into a bear market last week, historical data shows that investors should look past market volatility, with experts urging investors to buy the dip on the market’s recent selloff. Key Facts While the tech-heavy Nasdaq Composite has rebounded

Topline The stock market finished slightly higher and government bond yields surged on Tuesday as investors assessed the Federal Reserve’s more aggressive stance on fighting inflation, with a growing number of Wall Street experts now forecasting the central bank to raise rates by a bigger-than-expected 0.50% at its next couple of meetings. Key Facts Stocks

Topline The stock market opened slightly higher and government bond yields surged on Tuesday as investors assessed the Federal Reserve’s more aggressive stance on fighting inflation, with a growing number of Wall Street experts now forecasting the central bank to raise rates by bigger-than-expected 0.50% at its next couple of meetings. Key Facts Stocks bounced

In January of this year, I traveled for thirteen days. Outside of traveling, my calendar shows day after day packed with client meetings, planning, and online meetups for our Rock Retirement Club. My calendar runs like a well-oiled machine. Until it doesn’t. I pinched a nerve towards the end of the month and found myself

Too many people do their charitable giving backward. There’s a surge in interest in making contributions near the end of the year. That’s too bad. The benefits of charitable gifts often are maximized when you think about gifts early in the year and throughout the year. That way you maximize deductions and impact plus you

Today’s Social Security column addresses questions about how taking early retirement benefits can affect later spousal benefits, effects of the January 2022 COLA on benefits taken later and whether retirement benefits at 70 are required. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.

A case study in how two retirees can improve their lot in life by rethinking their savings. “My wife and I are 61 years old and retired. We live on a modest pension from my former employer, distributions from a 401(k) with $177,000 and distributions from inherited accounts (IRA, Roth IRA, annuity). We also have

By Sharon M. Goldman, Next Avenue Chronic back pain led Cindy Maricle, 59, of Bend, Ore., to launch a side hustle selling essential oil products aimed at helping others with the condition, and teaching people about aromatherapy. “I had run businesses before,” says Maricle. “But in this case, I had no intention of generating taxable

By Kim Perell, Next Avenue Depending on what you’re trying to accomplish, a year can feel like an eternity or a heartbeat. But in my opinion, a year is a useful yardstick for planning to launch a business since it provides you with just enough leeway to prepare yourself and take action, but not so

By Leslie Hunter-Gadsden, Next Avenue Word-of-mouth networking through personal recommendations and referrals is the lifeblood of Patricia Wynn’s Hillsborough, N.C.-based business as a lifestyle assistant. As of January 2022, Wynn’s nine-month-old business, Patricia Services, LLC, which includes cleaning, doing laundry, caregiving, sometimes cooking, and completing grocery shopping and other errands for her clients, has grown

Many LGBT retirees don’t want to live the stereotypical retirement of golfing and spending time with their grandchildren. Beyond the fact that we may not be fully welcomed in the country club-style retirement communities. The needs of LGBT retirees when it comes to where we want to live and how we will get the most

It seems that we hear of yet another family facing dementia just about every day at AgingParents.com. They want to understand options about how to pay for care, what to do with sibling fights about the elders, and they seek answers many related legal questions. In the midst of this, they are trying to cope

I wrote a very similar article back in 2020 with a list of five books I thought everyone should read. I stand by each and every book I chose for that list, but with so many new personal finance books coming out each week–and my tendency to discover some books a few years after they’re

It’s March, the NCAA tournament is quickly approaching, and many are playing a last-minute game of ‘bracketology,’ trying to create the perfect bracket. The odds of randomly picking a perfect bracket are pretty remote, like 2^63, or about 1 in 9.2 quintillion. Pretty tough odds. There’s another, and arguably more important, bracket you need to

Acupuncture and Medicare – two words that I never thought would be together in the same sentence. However, now that they are connected, it’s time to learn about acupuncture and Medicare, especially if you suffer from chronic low back pain. The practice of acupuncture most likely originated in China over 2,500 years ago. Traditional Chinese

Inflation just hit another high and the consensus appears to be it will go higher. It’s chic to pin this problem on the events happening now in Europe, but the core source of our current inflationary spiral pre-dates the Russian invasion. The following comments from financial professionals are based on interviews conducted prior to the

It’s official, after 20 seasons of cold in New England and heat in Tampa, Tom Brady finally retired. No wait, he’s back! After only 41 days, football’s GOAT has retirement remorse and is making a U-turn back to the field. Brady tweeted his decision. “These past two months I’ve realized my place is still on

In addition to the human tragedy, the serious situation in Ukraine certainly gives many investors cause for consternation, particularly those who have been in the market 10 years or less. However, history tells us that not only is volatility normal, but volatility can create opportunities, since some loss-averse investors will make a beeline for the

Topline Professional investors are growing increasingly gloomy about the future, with the majority now predicting that stocks will fall into a bear market this year and the U.S. economy will be plagued by stagflation meaning high inflation and slow economic growth, according to Bank of America’s latest Global Fund Manager Survey. Key Facts Investor sentiment

Today’s Social Security column addresses questions about a disability benefit can affect the family maximum that can be claimed on a single record, survivor benefits after delaying until 70 and spousal benefits with a foreign pension. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,

Most estate planning discussions assume assets flow in only one direction, from older generations to younger generations. That focus neglects some opportunities to increase family after-tax wealth. It’s not unusual for adult children to help care for their parents or have more wealth or higher incomes than their parents. In those situations, reverse estate planning

Digital financial planning is a force multiplier that allows advisors to serve more people in a more insightful way Changing Landscape The financial planning landscape has changed with a quantum shift in demographics and an increasing interest from younger generations wanting to learn more about financial planning. According to ICI Research, there are some 38%