Two days before the quarter ended, the Fed held the line on interest rates and formally suggested that no cuts were coming in 2019. The central bank suggested that one or two cuts might happen, but not until 2020. The Federal Open Market Committee voted 9-1 to keep the benchmark rate in a target range of 2.25% to 2.5% – hardly a split decision (St. Louis Fed President James Bullard voted to cut rates).
You just finished your taxes, but it's not too early to make plans for next year.
It's important that as you build your plan, you think about some strategies to reduce or defer your taxes now or in the future. Here are some strategies to consider helping your financial plan become more tax-efficient:
1. Tax harvesting
Usually, this strategy is implemented near the end of the calendar year, but it can be done at any time. With tax-loss harvesting, you sell off holdings that have a loss position to offset the gains you've experienced from other sales.
The asset you sold is then replaced with a similar investment to maintain the portfolio's asset allocation and expected risk and return levels. It won't restore your losses, but it can ease the pain.
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Simplifying the budgeting conversation is so important when it comes to taking action on your finances.
By categorizing your monthly spending into 5 main buckets, living, giving, saving, debt, and taxes, you are already way more likely to spend wisely.
It’s so important to have a set of personal finance principles to fall back on when the distractions of life arrive.
About half of the small business owners surveyed said they planned on using social media as part of their marketing strategy this year, according to a recent study by Keap.
We’re all aware that student loan debt presents a serious financial obstacle these days. Many are looking at refinancing student loans as an attractive option. Refinancing makes sense for some, but it's not a cure-all for everyone. Here’s 4 consideration to think through before refinancing your student loans.
1. You Start the Clock Over Again (and That Can Cost You) Once you Refinance
“We owe this freedom of choice and action to those men and women in uniform who have served this nation and its interests in time of need. In particular, we are forever indebted to those who have given their lives that we might be free.” – President Reagan on Memorial Day, 1983.
Article Source: https://www.napfa.org/financial-planning/what-is-fee-only-advising
The way in which your financial planner is compensated can make all the difference in the recommendations they make for you. That’s because some advisors work under a standard that requires only that their recommendations be suitable to your particular situation. Other planners work under a fiduciary standard that requires advisors to consider what is in their client’s best interest. You may be wondering why your advisor would make a recommendation that is not in your best interest. That’s where the issue of compensation comes into play.
Professional financial advice targeted toward you, your life and your goals works much better than generalized, scattershot investing tips.
