Right now, a growing number of employers are offering more tenured workers large, lump sum payments to turn in their key cards and credentials and retire early. In times of economic uncertainty, companies will immediately begin to reassess payroll costs and make decisions on how and where to reduce overhead to lower their fixed expenses….Read More
Stock options are no longer just for the few executives at the very top of the org chart. Many publicly traded companies now make them available to non-executive staff. And while splitting compensation between cash and stock has some real benefits, turning those stock option certificates into real dollars takes some careful planning. It is…Read More
When it comes to saving for retirement, it is never too early to start, but the last decade or so before you reach retirement age can be especially critical. By then, you will probably have a pretty good idea of when (or if) you want to retire, and, more importantly, still have some time to…Read More
We have all seen the headlines: Baby Boomers are set to pass somewhere between $60-75 trillion — depending on the study — to their heirs over the next 20 or so years. In other words, we are set to witness the largest generational wealth transfer of all time. It is also said that most of…Read More
It is not uncommon for individuals to experience a sudden windfall from either an inheritance, a legal settlement, a gift, or a bonus from their employer. If you have the good fortune to find yourself in this situation, there are several steps you should consider in order to make those dollars most impactful. One of…Read More
In the last decade or so, there has been a fundamental shift in the personal finance industry, moving away from product sales and towards holistic planning involving one or multiple financial goals. Decades ago, the financial advice industry was designed to be great for the stockbroker. Today, it is far better for the investor. With…Read More
Buried in the text of the 2017 Tax Cuts and Jobs Act (TCJA) lies a statement that Congress approved, blessing the so-called “back-door” Roth IRA: “Although an individual with AGI exceeding certain limits is not permitted to make a contribution directly to a Roth IRA, the individual can make a contribution to a traditional IRA…Read More
The key advantage to utilizing a Roth Individual Retirement Account (IRA) is that when done properly, your withdrawals in retirement are not taxed. For that reason, it has become the most coveted retirement vehicle there is. Roth IRAs prompt many savers to wonder whether they should either begin contributing to or converting a portion or…Read More
For many executives and senior level managers, compensation comes in the form of a set salary, a cash bonus (or two), and some form of equity ownership in the company. For executives and senior managers of publicly traded companies, equity ownership typically comes in the form of company stock. Publicly traded companies offer senior leaders…Read More
When a loved one passes away, the grieving process can be difficult enough without factoring in any of the financial responsibilities that an inheritance can create. And when that inheritance includes a house, there are several decisions to make — many of which will need to be made in a timely manner. Coupled with the…Read More
[Bonus Episode] Office Hours: What Happens When You Need to Buy a New House Before You Can Sell the One You’re Living In?
With some folks still looking to get out of city centers and move into single family homes with more space to stretch out, it’s not uncommon to need to carry two mortgages for a short time while moving from the old house to the new one,Read More
A non-traditional mortgage is defined as any mortgage that does not qualify as standard or conventional, or conform to a standard amortization schedule. Such as an adjustable rate mortgage, an interest only mortgage, a balloon payment, etc.Read More
[Bonus Episode] Office Hours: Can You Include Cash for Renovations Into Your Loan if You’re Buying a Fixer Upper?
In this competitive market, buyers are having to be flexible in what they want and are willing to accept in their new homes. That house with the worn floors or dated bathroom that may have been a disqualifier in years past is now receiving multiple com…Read More
As a small business owner, it can be challenging to prove to a lender that you are a safe enough credit risk to lend hundreds of thousands of dollars to. However, that is not to say it is impossible. For most small business owners,Read More