January 2024

A Retirement Saver’s Match is an employer-sponsored program where employers match a portion of their employees’ contributions to a retirement savings account, such as a 401(k) or similar plan. Purpose: Encourage employees to save for retirement by providing an additional financial incentive in the form of employer contributions. How Retirement Saver’s Match Works: Benefits of […]

To claim the Saver’s Credit, also known as the Retirement Savings Contributions Credit, you’ll need to follow specific steps when filing your federal income tax return. Here’s a step-by-step guide: Remember that claiming the Saver’s Credit involves accurate reporting of your contributions and adherence to IRS guidelines. If you are unsure about any aspect, it’s

In investment terminology, “overweight” is a recommendation or rating given by financial analysts to express the opinion that a specific asset, security, or sector is expected to outperform its peers, a benchmark index, or the overall market. Key Components: How It Works: Pros and Cons: Pros: Cons: Considerations: Understanding the concept of overweight is crucial

Yes, you can get a business credit card without having a formal business entity. Many credit card issuers offer business credit cards for individuals who operate as sole proprietors, freelancers, or have a side gig. The requirements for obtaining a business credit card without a formal business vary by issuer, but here are some common

Whether you should refinance your student loans depends on various factors, including your current financial situation, the types of student loans you have, and your financial goals. Here’s an overview of the types of student loans that you can refinance and the potential impact on you: Federal Student Loans: Private Student Loans: Variable Interest Rate

A balloon mortgage payment refers to a type of mortgage where you make regular monthly payments for a specified term, but at the end of that term, you are required to make a large, one-time payment, known as the “balloon payment,” to pay off the remaining balance of the loan. Balloon mortgages typically have lower

Here are some general reasons why mortgage loans are commonly denied. Understanding these factors may help you identify possible reasons for your specific situation: If you received a denial, it’s crucial to communicate with your lender to understand the specific reasons behind the decision. They may provide insights into how you can address these issues

A 60/40 portfolio is a type of balanced investment strategy where the portfolio is allocated 60% to stocks (equities) and 40% to bonds (fixed income). This allocation is based on the percentage of the total portfolio value that is invested in each asset class. The primary goal of a 60/40 portfolio is to strike a

Investing for income involves allocating capital to assets with the primary goal of generating a regular stream of cash flow. The income can come in the form of interest, dividends, or rental payments. This approach is particularly important for individuals seeking a steady income stream, such as retirees or those looking to supplement their salary

There isn’t a specific “ideal” number of credit cards that universally applies to everyone. The optimal number of credit cards for an individual depends on various factors, including personal financial goals, spending habits, credit management skills, and preferences. Here are some considerations to help you determine the right number of credit cards for you: While