28
2024
5 Steps Investors Should Take After a Data Breach to Protect Their Identity
In today’s digital age, data breaches are becoming an increasingly common threat. As investors, protecting your financial information and personal identity is paramount. According to a report by the Identity Theft Resource Center (ITRC), the number of data breach victims surpassed 1 billion in the first half of 2024 – a 409% increase from the same time period last year! These breaches can lead to...
Read More
23
2024
Retirement Income: Why Personalization Is Key
When planning for retirement, many people turn to the so-called “rules of thumb” as a guide for how much income they’ll need. One of the most common rules is that you should aim to replace 70% to 80% of your pre-retirement income. While this rule can provide a quick estimate, relying on it too heavily can lead to a retirement plan that doesn’t align with...
Read More
15
2024
09
2024
6 Strategies to Strengthen Your Finances
Whether you’re concerned about a potential recession or simply looking to build a stronger financial foundation, there are several key strategies you can implement to improve your financial health. Here are six practical steps to take control of your finances, reduce stress, and position yourself for financial independence. 1. Build an Emergency Fund An emergency fund is your financial safety net. It provides a cushion...
Read More
07
2024
Perspectives on Market Volatility
Stocks must have gotten the memo that August tends to be weak historically. July, the eighth positive month in the past nine, was quickly forgotten as the beginning of August greeted us with a selloff. The primary catalyst was August 2’s weaker-than-expected employment report, which ignited concern that the U.S. economy could tip into recession. Several additional factors exacerbated the selling pressure: Overly bullish sentiment...
Read More
01
2024
Beyond Investments: Identifying Your Financial Goals Through Personal Reflection
In the world of personal finance, the most common question people ask is, “What should I invest in?” While choosing the right investments is crucial, this question often overshadows a more fundamental aspect of financial planning: identifying your financial goals. Before diving into the specifics of stocks, bonds, or real estate, it’s essential to take a step back and reflect on your broader financial aspirations....
Read More
25
2024
Putting You First: A Backwards Approach to Budgeting
When it comes to managing personal finances, traditional budgeting methods can often feel restrictive and complicated. Enter “backwards budgeting,” a different approach that flips conventional budgeting on its head. This strategy emphasizes paying yourself first, starting to invest at a young age, and harnessing the power of compounding to build long-term wealth. Let’s explore these key principles and how they can pave the way to...
Read More
16
2024
Breaking Down The Backdoor Roth IRA Strategy
What is a Backdoor Roth IRA? A Backdoor Roth IRA is a strategy that allows individuals to contribute to a Roth IRA even if their income exceeds the limits set by the IRS for Roth IRA eligibility. Essentially, it’s a legal loophole that involves making non-deductible contributions to a traditional IRA and then converting those funds to a Roth IRA. This approach can provide significant...
Read More
10
2024
The Premier Bucket Strategy
Planning is essential as you make the transition from accumulating assets to creating a retirement income stream. One powerful approach that can help you visualize how your investments are working for you during this process is the Premier Bucket Strategy. This strategy divides your investments into four distinct categories or “buckets,” each tailored to specific financial needs and time horizons. Let’s delve into each bucket...
Read More
02
2024
Conduct A Mid-Year Financial Review
2024 is halfway over, and now is an excellent time to conduct a mid-year financial review. This proactive step helps you stay on track with your financial goals and allows you to make any necessary adjustments. Here are 7 steps you can take now to review your finances: 1. Review Your Budget Analyze Spending: Examine your expenses for the first half of the year. Identify...
Read More