MoneyLetter Blog
The latest insights on the economy and the markets, investment strategies, and retirement
The Benefits of Contributing To Your Roth 401(k)
The Benefits of Contributing To Your Roth 401(k) Although it can seem overwhelming to plan for retirement, it's imperative that you act now to safeguard your financial destiny in the future. One extremely promising option is the Roth 401(k). Understanding the...
6 Reasons Why Financial Reviews Are Essential
It’s not understating things to say that your financial review is one of the most critical aspects of successful financial planning. Many people assume that once their financial plan has been created, they can "set and forget". However, there are several reasons why...
3 Ways to Be a Smarter Do-It-Yourself Investor
Investing can be both rewarding and daunting, especially for those venturing into the realm of DIY investing. While the allure of taking control of your financial future is enticing, it's essential to approach it with strategy and mindfulness. Here are three ways to...
Key Financial Ages
Throughout life, there are several key financial ages, each marking a distinct milestone in one's journey toward financial stability and security. From the early years of establishing financial independence to the later stages of retirement planning, these milestones...
Does Long-Term Care Insurance Make Sense for You?
Discussing personal insurance matters can be sensitive, especially when addressing mortality, morbidity, or declining health. But long-term care insurance plays a crucial role in securing financial stability and providing peace of mind for individuals and their...
8 Tips To Make Tax Filing Easier This Year
Tax season officially starts this week with the IRS opening e-File for individual taxpayers. While many people are getting a jump on filing their taxes, you may want to wait a little bit and get organized before you decide to do your tax return. When the Tax Cuts and...
6 Tips To Maximize Your Social Security Benefits
6 Tips to Maximize Your Social Security Benefits: Everyone nearing retirement always seems to have a ton of questions surrounding how to maximize their Social Security benefits. These questions range from “When should I take Social Security?”, “How can I maximize my...
What the 2024 Tax Brackets Mean for Your Money
What the 2024 Tax Brackets Mean for Your Money: Tax brackets play a significant role in determining your tax bill. As your taxable income moves up this ladder, each layer gets taxed at progressively higher rates. How do Tax Brackets Work? A single person with $140,000...
How to Invest in Municipal Bonds
How to Invest in Municipal Bonds: Municipal bonds—or muni bonds—are fixed-income securities issued by local or state governments to fund public projects. When planning your investment portfolio, municipal bonds are one way to add tax efficiency to the mix. Here’s what...
5 Tips to Create a Budget in 2024
5 Tips to Create a Budget in 2024: As we step into a new year, we all have New Year’s resolutions to follow, so why not add "create a 2024 budget" to the list? In 2024, staying on top of your budget is not just about saving money; it's about securing your financial...
Do You Plan To Work After 65?
Do You Plan To Work After 65? More Americans Are Delaying Retirement. There is an increasing trend of older workers remaining in the labor force. A Pew Research study this month found that the number of working Americans ages 65 and older has nearly doubled in 35...
What Issues Should I Consider When Reviewing My RMD?
Reviewing your Required Minimum Distribution (RMD) is an important task, especially if you have retirement accounts like a Traditional IRA or a 401(k). Failing to take the correct RMD amount can result in penalties. Here are some issues to consider when reviewing your...
How Do Interest Rates Affect the Stock Market?
Generally, interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. When interest rates rise, it can make borrowing money for a company more expensive, which means they have less money...
Important Financial Dates of 2024
In 2024, there are several important financial dates that individuals, businesses, and investors should be aware of to effectively plan for the year ahead. These dates play an important role in taxation, financial reporting, and investment decisions. Here are some key...
What Is Asset Allocation and Why Is It Important?
Asset allocation is how investors divide their portfolios among different assets that might include equities, fixed-income assets, and cash and its equivalents. Investors ordinarily aim to balance risks and rewards based on financial goals, risk tolerance, and the...
Looking to Retire in Five Years?
If you are looking to retire in five years, now may be a suitable time to do a realistic retirement-needs analysis. The last five years before retirement may be a significant period, at least in terms of retirement preparation. This is because you must assess whether...
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