5 Ways to Spend a Bonus or Financial Windfall

Receiving a workplace bonus or other type of financial windfall can feel like Christmas morning. Regardless of whether you receive a few hundred dollars or a few thousand dollars or more, your thoughts will probably quickly start turning to what you can do with the money. For many people, the first thought is to treat […]

How Might Inflation Affect Your Investments?

Soaring inflation has dominated the financial and economic headlines for most of this year. In February, the annual inflation rate reached 7.9%, which was the highest level of inflation in four decades. Every single item in the consumer price index (CPI) went up in price from a year earlier, including gasoline, food, housing and vehicles, […]

A Five-Step Guide to Creating a Financial Management Plan

It’s common in our society to gauge financial success by how much money people make, or their income. The assumption is that if someone reaches a certain income level — whether it’s half-a-million dollars or multi-millions of dollars — this person or family must be financially successful. But this isn’t necessarily true. Financial success usually […]

Cryptocurrency Donations Are on the Rise

Cryptocurrencies like Bitcoin and Ethereum have exploded in popularity recently, with some people realizing large returns by investing in them. According to a recent report, some of these investors are in turn donating a portion of their crypto returns to charitable causes they believe in. Leading crypto philanthropy organization The Giving Block reports that donations […]

The Great Resignation and Early Retirement Account Withdrawals

Over the past couple of years, the United States has experienced an employment phenomenon that’s commonly referred to as the Great Resignation. Millions of employees left the workforce in 2020 and 2021 — some due to the pandemic and some for a variety of other reasons, including generous federal government benefits that sometimes made it […]

Be Aware of These New Reporting Requirements for Payment Apps.

The use of payment apps like Venmo, Cash App and Zelle has become so common that Venmo is now a verb — as in, “I’ll just Venmo you the money.” Their popularity only grew during the pandemic as some people tried to avoid as much personal interaction with others as possible. But thanks to federal […]

What To Know About the Enhanced Child Tax Credit

Last summer, the federal government began sending out monthly advance payments to families that qualified for the enhanced child tax credit. The $1.9 million American Rescue Plan coronavirus relief package temporarily increased these payments to up to $3,600 annually, or $300 per month, for each child age 5 or under and up to $3,000 annually, […]

Watch Out for These 8 IRS Audit Triggers

They might be two of the most dreaded words in the English language: IRS audit. Even though the chances of having your tax return audited by the IRS are relatively slim — in recent years, fewer than 1% of individual tax returns have been audited — it’s still smart to know what things might trigger […]

Retirement Strategies: How Much Can You Withdraw and Not Outlive Your Money?

Perhaps the biggest unknown when planning retirement financial strategies is how long your money will need to last? No one knows how long they’re going to live so it’s hard to know exactly how much money it will take to make it all the way through retirement without running out of cash. One strategy that […]

How to Help Aging Parents Financially

One of the biggest decisions some adult children have to make is how much financial support they should offer to parents if their parents haven’t saved enough money for a financially secure retirement. On the one hand, children often feel a sense of responsibility to help their aging parents financially if they need it. But […]