fbpx

Should You Lend Money to Family and Friends

Mixing money and family typically is not a prudent financial move. All too often, personal feelings get tangled up in a web of financial burdens, and it can be unpleasant and potentially put you in a bad situation. It can be made even more complicated when the ones you are closest to in your family … Read more Should You Lend Money to Family and Friends

Best Investments in Low Interest Rate Environment

Calculate home value

Low interest rates might be good for the economy and consequently for the Stock Market; however, it is no laughing matter to the millions of seniors that depend on fixed-income investments for their retirement income. With the current Treasury yields below 1% (see  Treasury.gov), investors are finding that the low interest rates make it difficult … Read more Best Investments in Low Interest Rate Environment

How to Raise Credit Score and Fix Bad Credit

How to Raise Credit Score and Fix Bad Credit 12

Regardless of your financial situation, your credit score is an essential aspect of your finances. This is especially true if you’re planning to borrow money for any reason. With a better credit score, you could qualify for lower interest rates when you borrow, e.g., home mortgage, car loan, and other types of loans. As such, … Read more How to Raise Credit Score and Fix Bad Credit

How to Start Investing in Stocks for Beginners

Investing Decisions Tree

Investing in the stock market is one of the most accessible and reliable ways to build wealth and generate passive income. It is statistically possible, to invest $100 a month and become a millionaire by the time you turn 65. Regardless of when you start and how much money you can invest, there is something … Read more How to Start Investing in Stocks for Beginners

Best Retirement Plans: Differences and Overview

Understanding your retirement accounts

In the United States, it is quite common for individuals to leave it up to their employers to kick start the retirement planning efforts of the individual by enrolling them in a 401(k) or other employer-sponsored retirement plans. However, there are many plans beyond your standard 401(k) plan that could potentially do a better job … Read more Best Retirement Plans: Differences and Overview

401(k) Contribution Limits for 2019 and 2020

401(k) Contribution Limits for 2019 and 2020 38

According to the IRS, the combined total contribution you can make to all of your 401(k) plans (including traditional 401(k), Roth 401(k), and individual 401(k) plans) in 2020 increases by $500 to $19,500. The catch-up contribution limit also increases from $6,000 to $6,500. However, you may be limited by what your employer allows you to … Read more 401(k) Contribution Limits for 2019 and 2020