Don’t Make This Mistake With Your College Loans

The average debt that college students are graduating with continues to rise. Nearly seven out of 10 graduating seniors in 2015 left college with student debt, according to a report from the Institute for College Access and Success (TICAS). The average debt of the Class of 2015 was just over $30,000. That’s a four percent rise over the previous year and represents a historic high. Borrowers repaying the average debt will face college loan payments of more than $300 a month for 10 years. Nineteen percent of the college debt came from private lenders, as well as state programs, while the rest...
Read more...

Is There Still Time to Contribute to Your IRA or Roth IRA for 2016?

Opportunity If you would like to maximize your tax-deferred assets and you have not fully funded your traditional IRA or Roth IRA for 2016, you have until April 18 to make a contribution, since the usual tax filing date of April 15 falls on a holiday weekend this year. For those under the age of 50, the maximum you can contribute for 2016 (as well as 2017) is $5,500; if you are 50 or older you can contribute $6,500...
Read more...

Beware of These Two Tax Scams

looking at taxesCompleting your tax return every year is a hard enough task without worrying about tax scams. Unfortunately, there are a lot of scam artists out there who have ripped off countless Americans. Here are two common fraudulent tax schemes to be aware of:  1. Impersonation of Internal Revenue Service agents.  You may have heard stories about taxpayers getting automated telephone calls or emails from thieves claiming to be...
Read more...

10 Things You Should Shred

shredded paperIt’s almost time for spring cleaning. While you’re thinking about what needs cleaning in your house, don’t forget to declutter by getting rid of unnecessary documents. When contemplating this thankless task, a major hang-up, besides time, is determining what you can safely toss. Or better yet, shred, so the documents don’t fall into the wrong hands. Here are 10 things you can safely shred: 1. Pay stubs. After receiving...
Read more...

Focus on Your Own Ship; Not the Unpredictable Seas

Featured in Forbes on June 29, 2017 Nearly 105 years ago, on April 15, 1912, the famed Titanic ship sank into the Atlantic Ocean after a fateful collision with an iceberg. Several theories have been proposed as to how the ship—which was an engineering marvel at the time—was brought down on its maiden voyage. A recent documentary entitled, "Titanic: The New Evidence1," explores the premise that the iceberg may not have been the sole cause of the Titanic's sinking after all. New evidence and research presented in the documentary focuses on reports of a coal fire which may have started in one of...
Read more...

20 Ways to Cut Your Tax Bill

Have you completed your tax returns yet? If not, there is still time to make sure that you claim every deduction for which you qualify. Here are 20 common deductions: 1. Contributions to 401(k) and 403(b) accounts. Contributions to these workplace accounts are automatically withdrawn from your paychecks, which will lower your taxable income. 2. Contributions to traditional IRAs. You can obtain a deduction for contributions to traditional IRAs, SIMPLE IRAs and SEP-IRAs, but you won’t get an upfront tax deduction for contributions to Roth IRAs. 3. Health savings account contributions. Money you...
Read more...

Lessons About 2016 Financial Markets from “Mr. Market”

Benjamin Graham, the well-known value investor, in The Intelligent Investor created Mr. Market as an analogy to describe how the stock market works. “Every day he tells you what he thinks your interest [in your business partnership with him] is worth and furthermore offers either to buy you out or to sell you an additional interest on that basis. Sometimes his idea of value appears plausible… Often, on the other hand, Mr. Market lets his enthusiasm or his fears run away with him, and the value he proposes seems to you little short of silly.” Given this appraisal, it might seem absurd to try...
Read more...

How Much You Can Save in 2017

401(k) Nest EggWith 2017 just around the corner, now is an excellent time to plan on turbo charging your retirement savings in...
Read more...

Why Americans Claim Social Security Early

piggy bankClaiming Social Security benefits at the earliest eligible age of 62 is not a smart financial move for most people. That’s...
Read more...

Tips for Giving Back this Holiday Season

Giving BackThere are many worthy causes to support as well as a number of ways to support them. If you’d like to give to charity this year...
Read more...