The last few months have woken up a lot of investors. Suddenly, the markets seem to be in free fall one day and rocketing upwards the next. After nine--almost sleepy--years it appears that market volatility is back. And now that everyone is opening up their 2018 year-end statements, the picture is not pretty.
This past weekend, I was unpacking some boxes of books from our recent move.
As I was sorting through them, I came across Dr. M. Scott Peck's classic, "A Road Less Traveled"
It has been years since I read this book and as I opened it, reading the first line of the book "Life is hard" caused me to pause.
With our lives moving online, the number of ways that bad guys can take advantage of us seems to be growing exponentially. And, there is reason to worry: According to 2018 Identity Fraud, there were 16.7 million victims of identity fraud in 2017, a record high that was preceded by another record high in 2016.
Last week, I sat down with a new client. She was referred to me be by a colleague that felt I was a better fit for her. She was wrapping up her divorce and wanted someone that worked in that area.
After we got to know each other a bit and we walked through her financial concerns and goals for her new life, we agreed a comprehensive plan was in order.
Forty years ago, the 401k as we know it was born.
According to the Investment Company Institute, more than $5 trillion (with a "T") sits in these accounts of over 55 million participants.
401k's have become a staple of saving for retirement.Don't get me wrong, they work well for those that do two things:
With the new tax law kicking in this year, lots of things are changing for taxpayers, including itemized deductions. Prior to 2018, taxpayers who itemized deductions were able to lower their tax bill with few restrictions. But now, with the new cap on deductions for state and local income and property taxes set at a maximum of $10,000, being able to itemize is not assured.