Updated for 2021 Archives - Page 3 of 5 - Darrow Wealth Management

Cash Management Current events Debt Management Home buying Interest rates Investing Mortgages Real Estate Updated for 2021

Is Refinancing Your Mortgage Worth It? Here’s How Much You Could Save

How much can refinancing your mortgage save you? Mortgage rates are currently very low - the average 30-year mortgage is now below 3%. It might make sense for homeowners to consider refinancing. How much could you save from refinancing your mortgage? Here's how to tell if refinancing your mortgage is…

Kristin McKennaMarch 2, 2020

Employee benefits Financial Planning Financial Planning for Couples Pension Retirement Planning Secure Act Updated for 2021

Should You Take a Pension or a Lump Sum?

Should You Take a Pension or a Lump Sum? Deciding between a lump sum or receiving pension benefits monthly requires careful planning and consideration. Though your personal situation and circumstance will always be the most important factor in any major financial decision, there are several key considerations to keep in…

Kristin McKennaDecember 15, 2019

Asset Management Brokerage Account Investing Rebalancing Tax planning Updated for 2021

Is Tax-Loss Harvesting a Good Idea?

Tax-loss harvesting is the process of selling an investment that has lost value in your portfolio to 'realize' the loss for tax purposes. Investors can use this loss to offset taxable capital gains and potentially reduce ordinary income by up to $3,000 for the year. The remainder (if any) can…

Kristin McKennaOctober 22, 2019

Financial Planning Roth IRA Starting to invest Tax planning Updated for 2021 Wealth and Family

How a Roth IRA Could Make Your Kid a Millionaire

Updated for 2021. For most parents, it's a trifecta: help your kids learn about investing, save for retirement, and get fast-tracked to becoming a millionaire. It's possible, and surprisingly attainable. Here's how it works: if a teenage or college-aged kid has earned income (i.e. a part-time job), they are eligible…

Kristin McKennaSeptember 3, 2019

Cash Management Home buying Real Estate Updated for 2021

Should You Pay Off Your Mortgage Early or Invest Extra Cash?

Should You Pay Off Your Mortgage Early or Invest Extra Cash? It's true: the idea of living without a mortgage payment sounds enticing. On the surface, it may also seem like a no-brainer financially...paying off debts is typically considered a positive thing. Unfortunately, many homeowners get so wrapped up in…

Kristin McKennaApril 30, 2019

Asset Management Diversification Investing Managing Risk Updated for 2021

What History Can Teach Us About Asset Class Diversification in 4 Charts

Setting your asset allocation is like drafting architectural plans when building a home; it provides a map to guide the construction of your investment portfolio. Developing an asset allocation is a multi-step process, which is challenging for many investors, and for good reason. A Google search for the term "how…

Kristin McKennaJanuary 30, 2019

Restricted Stock Awards Updated for 2021

What You Need to Know About Your Restricted Stock Awards

A restricted stock award is a type of stock compensation plan where individuals are granted (or may purchase) shares of company stock to be received at a later date, when vesting requirements are met. Employees must decide when to pay income tax on their restricted shares through an 83(b) election.…

Kristin McKennaSeptember 16, 2018

401(k) Plans 403(b) Plans Brokerage Account Financial Planning Retirement Planning Tax planning Updated for 2021

Should You Always Max Out Your 401(k)? The Downside of Pre-Tax Retirement Accounts

Is it always a good idea to max out your 401(k)? For wealthier retirees or individuals with a sizeable pension, you might not want to max out contributions to your 401(k). Here are some situations where maxing out your 401(k) might not make sense. (more…)

Kristin McKennaSeptember 5, 2018

Asset Management Infographics Inheritance Secure Act SEP IRA Traditional IRA Updated for 2021

Options After Inheriting an IRA from Your Spouse

If your spouse has named you as a beneficiary on their traditional IRA, SEP IRA, or SIMPLE IRA, you will need to understand your options for the account you have just inherited. In general, you will have three choices for the IRA you have inherited. As you review your options,…

Kristin McKennaApril 13, 2018

Updated for 2021