As school season ramps up, shopping commercials will become more prevalent as parents and their children start planning for the next school year. Below are strategies to keep in mind as you navigate back-to-school expenses. Set a Budget According to the National Retail Federation (NRF), $3.4 billion was projected to be spent on backpacks alone in 2017. Take the time… Read More
Archive for July, 2019
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Should You Rent or Buy Your Next Home?
According to a recent Pew Research Center analysis of data from the Census Bureau, more US households are headed by renters than at any point over the last 5 decades. Buying a home is something most people strive for, however people in their 20’s & 30’s are having a harder time making the financial commitment. Here are some items you… Read More
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Market Recap: 2nd Quarter 2019
Stock gains continued in April, with the economy growing faster than expected at an annual growth rate of 3.2% for the first quarter. However, markets stumbled in May triggered again by U.S. and China trade issues, as the U.S. increased tariffs on nearly half of Chinese imports from 10% to 25%, after which China retaliated by increasing tariffs on $60… Read More
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How Do My 401(k) Contributions Affect My Taxes?
Most 401(k) plans allow participants to contribute to the plan either on a pre-tax basis (Traditional) or an after-tax basis (Roth). Below are the tax considerations for each choice. Pre-Tax Contributions Affect on Taxes When you save in a traditional 401(k) plan, you are saving pre-tax, meaning you don’t pay taxes on your savings until you withdraw them from your… Read More