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Bear Markets Q&A: Less fun than it sounds, and it doesn’t sound fun
June 16, 2022 | By Jessica Goedtel, CFP®
On Monday, June 14th, the S&P officially hit bear market territory. As of the day’s close, it had declined 21.8% from its high on January 3, 2022. So far, not a great start to the week. But what does that even mean, and how might it affect you? What is a bear market? A bear […]
Continue Reading →Why did the government take so much of my bonus?
March 23, 2022 | By Jessica Goedtel, CFP®
You got a bonus, woohoo! You’ve got big plans for this money, and want to make sure you know exactly how much you’re getting after taxes. You do the math using an old paycheck, figure your proceeds, maybe even round up for good measure. With a number firmly in hand, you start planning just how […]
Continue Reading →2022 IRS Contribution Updates
November 22, 2021 | By Jessica Goedtel, CFP®
On November 4th, 2022, the IRS announced its annual cost-of-living adjustments for contributing to retirement plans and other updates. Here are some of the highlights: 401k, 403(b), most 457 plans – annual contribution limit has been increased to $20,500 (from $19,500) Income phaseouts were updated for Roth IRA contributions Single/Head of household phaseout range $129,000 […]
Continue Reading →Santosha (Contentment with Yourself)
October 13, 2021 | By Jessica Goedtel, CFP®
Take a breath. Where are you right now? Recently I started meditating again using my Calm app. It’s been a while since I fired it up, but I have been feeling a bit frazzled and am working to incorporate it into my routine. I put on a session the other day and immediately felt relaxed […]
Continue Reading →Goodbye, Backdoor Roth IRA?
September 24, 2021 | By Jessica Goedtel, CFP®
11/5/2021 update – Sigh. It’s back. 10/29/2021 update – Yesterday’s updated reconciliation bill has removed this provision, so backdoor Roth conversions are still allowed. I won’t be surprised to see it come up again in the near future, but the strategy is safe at least for now. New proposed tax legislation was recently presented that […]
Continue Reading →Questions (And Answers) You Never Thought To Ask About HSAs
August 30, 2021 | By Jessica Goedtel, CFP®
Health Savings Accounts (HSAs) are a favorite among financial planners, and it’s easy to see why – contributions are tax deductible, gains are tax-free, and distributions are non-taxable as long as they are used for qualified medical expenses. HSA balances can be rolled over each year, unlike flex savings accounts (FSAs). Plus, if you hang […]
Continue Reading →What should I be looking for in a high-yield savings account?
August 16, 2021 | By Jessica Goedtel, CFP®
Are you looking for a place to stash your emergency fund and earn more than a few pennies on your hard-earned savings? Move that money out of your boring checking account and instead switch over to a high-yield savings account, where you can earn dozens of pennies! Dozens! In all seriousness, a high-yield savings account […]
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