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Parents, as you begin the process to plan and save for college expenses, you may find this article by Morningstar on The Top 529 Education Savings Plans of 2021 a helpful resource. We also have some useful tips and suggestions in this guide. © Copyright 2022 Morningstar, Inc. If you have questions on …
Markets, economists and policymakers have been fretting about inflation for months, worried that the trillions of dollars being spent in recent and future government stimulus programs could overheat the economy and send prices soaring. On May 12, 2021, the worrywarts seemed to have their fears confirmed when the April consumer price index shot up a …
Why the Inflation Rate Doesn’t Tell the Whole Story Read More »
Market Insights/April 6, 2021 On the third business day of every month, IHS Markit releases a Purchasing Managers’ Index (PMI) for more than 40 worldwide economies. The US Services PMI is based on monthly questionnaire surveys collected from over 400 U.S. companies and cover topics like new business, employment and expectations going forward. And since …
More consumers are conducting financial transactions online and may become vulnerable to tracking, hacking, identity theft, phishing scams, and other cyberspace risks. While nothing can guarantee complete safety on the Internet, understanding how to protect your privacy can help minimize your exposure to risk. Here are some ways to safeguard your information: Read privacy policies. …
Fiduciary duty is a legal concept requiring individuals in certain professions – including lawyers, trustees, and investment advisers – to prioritize their clients’ best interests over their own. A fiduciary obligation arises whenever the relationship with the client (often referred to as the “beneficiary” or “principal”) involves a special trust, confidence and reliance on the …
With the decline of traditional pensions, most of us are now responsible for squirrelling away money for our own retirement. In today’s do-it-yourself retirement savings world, we rely largely on 401(k) plans and IRAs. However, there are obviously flaws with the system because about one-fourth of working Americans have no retirement savings at all–including 13% …
10 Ways the Secure Act Will Impact Your Retirement Savings Read More »
Understanding the changes for 2020 so you can maximize your retirement There are some significant changes to your retirement plans starting January 1, 2020. Between the Internal Revenue Service announcing cost-of-living adjustments for tax year 2020 and the new Secure Act, there is a lot to digest. Here are the highlights: IRS Cost-of-Living Adjustments Detailed …
2020 Contribution Limit Changes & the Secure Act Read More »
When planning for retirement, it is extremely important to understand and account for health care expenses. Typically, these expenses consist of Medicare or Medicare Advantage premiums, supplemental plan premiums, and out-of-pocket expenses (deductibles, copays, coinsurance, etc.). Medicare Most individuals age 65 or older in the U.S. will participate in a Medicare or Medicare Advantage plan. …
Encourage your student to think about their future financial self Mid-August is the time of year that our kids pack the U-Haul and head to college. And while they’re excited about a brand-new semester, it can be frightening to see the cost – and rising college debt – that comes with the college experience. What …
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