People always say that money doesn’t just fall out of the sky. But every once in a while - whether it's a bonus from work, an inheritance, or even lotto winnings - it does! Receiving an unplanned sum of money like this is referred to as a windfall. Although there is no set amount to... Continue Reading →
How Do I Know When Dividends Are Qualified or Ordinary?
It’s no secret that one of the most attractive types of securities for investors to own are those that pay dividends. Dividends are the distributions that a company or fund chooses to give back to its shareholders - generally from the profits or gains that it generates. The more shares an investor owns, the more... Continue Reading →
What is Loud Budgeting and How Does It Work?
Tired of everyone trying to subtly show off how rich they are - or at least appear to be? If so, then you're not alone. Gen Zers (as well as many others) are becoming fed up with the "quiet luxury" trend of 2023. This is when someone casually wears certain expensive items or spends their... Continue Reading →
Are Stocks Taxed Differently Than Income?
According to Investor’s Business Daily, millennials are trading stocks far more frequently than those in Gen X or Gen Z. This is thanks mainly to brokerages no longer charging commissions and the accessibility to the market that trading apps provide. While it's admirable to see younger people embracing their financial future, it does also open... Continue Reading →
If You Have a Side Hustle, Lower Your Taxes with a SEP IRA
From selling things online to making deliveries, side hustles are becoming an increasingly common way for people to earn some extra cash. However, if you earned more than $400 last year, the IRS will have their hand out waiting to get their cut via taxes. Most people don’t realize it, but because you essentially have... Continue Reading →
How to Get in Shape on a Budget
The new year is a great time to commit yourself to a healthier lifestyle and shed a few unwanted pounds. However, the last thing you’ll want to do is pay to join a gym, visit it once or twice, and then never return. According to the website Exercise.com, 67 percent of people make this exact... Continue Reading →
7 Important Money Conversations to Have With Your Partner
It’s well known that money can be a touchy subject for couples. But it can also be destructive if differences have not been properly resolved. According to a study by Credit Karma, about one-third of respondents said they had ended a relationship over disagreements about their finances. Another 40 percent said that money leads to... Continue Reading →
New Retirement Plan Limits for 2024
As they do each year, the IRS has once again announced the latest updates made to the contribution limits and rules across all retirement plans. Cost-of-living adjustments are fairly common and happen every one to two years due to inflation. This enables Americans to keep pace with the latest costs and how much they anticipate... Continue Reading →
How to Use the Debt Snowflake Method
You may already be familiar with some of the more popular debt payoff strategies like the debt snowball and debt avalanche method. But have you ever heard of the debt snowflake method? This isn’t just another cute name for what appears to be a winter-themed string of tools for eliminating your outstanding balances. Unlike the... Continue Reading →
What Is the 60% Solution Budget?
Manually tracking and categorizing your expenses - It’s something that nearly every financial guru recommends. However, in practice, it proves to be more cumbersome than it’s worth. That’s the same conclusion that Richard Jenkins, author and former editor-in-chief of MSN Money, came to. After two decades of laboriously attempting to organize his finances, he began... Continue Reading →