In periods when investment accounts are going down, (like we have experienced in 2022 so far) when we invest during those down periods, and we hold our investments for a long time, we are taking advantage of something called Dollar Cost Averaging.
For our parents or grandparents, retirement used to mean dad/grampa1 working at the same company for 30 or 40 years (likely in a physically demanding job) and then stopping work completely and collecting a company pension and Social Security benefits
While they’re both worth getting excited over, it’s important to understand the key differences between tax credits and tax deductions.
For high income households, the FAFSA may seem like a waste of time when looking at it from the outside view. However, here’s 5 reasons why you may want to give the FAFSA another look
Too often people start thinking about their taxes when they are completing their prior year tax return. While you can learn from prior years, planning based on last year is like driving your car through the rearview mirror. So, let’s think ahead.
I came up with what I thought was a good plan. We agreed she would save $60,000 a year over the next twelve years and spend $30,000 a year as she saw fit. In twelve years, following this plan, she could accumulate approximately $1,000,000**. Since at this point, she was still under a normal retirement age, there was the opportunity for this $1,000,000 to potentially grow further before she retired.