Build Your Wealth: Personal Finance & Investing Insights

Charitable giving Forbes Tax planning Updated for 2022

Donating Stock to Charity

Donating appreciated stock to charity can be a great way to give back and reduce your tax bill. Taxpayers who itemize get a tax deduction for the market value of the stock. Unlike regular stock sales, when giving stock, there's no capital gain. The charity receives the full value of…

Kristin McKennaDecember 5, 2022

Sudden Wealth Tax planning Updated for 2023

Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events

Taxachusetts is back. In November 2022, proponents of the Massachusetts 'millionaires' tax (question 1) won their bid to nearly double the income tax rate on individuals with taxable income over $1M a year. Starting in 2023, a 4% surtax will be applied to taxable income and capital gains over $1M.…

Kristin McKennaNovember 17, 2022

Diversification Forbes Investing Investing During a Crisis Managing Risk

Avoid Self-Inflicted Losses in a Down Market

Declines in the financial markets are an uncomfortable part of investing. Taking steps to plan ahead of a market decline is best, though what you do during a selloff is also crucial. Especially for equity investors, avoiding losses entirely is unrealistic. But individuals sometimes make decisions that cause preventable financial…

Kristin McKennaNovember 14, 2022

Diversification IPO Stock options Sudden Wealth

Frozen IPO Market Reveals Dangers of Pre-IPO Exercising & Pre-Spending a Windfall

The Instacart IPO is on hold...again. What should employees with stock options do when their employer’s IPO stalls? In truth, best practices around an IPO are sometimes skewed towards what not to do. If you have stock or options from a company that’s about to go public, there may be…

Kristin McKennaOctober 31, 2022

Forbes Retirement Planning Tax planning Traditional IRA Updated for 2022

The Best Way to Take Required Minimum Distributions (RMDs)

Planning can help optimize annual RMDs depending on your goals and cash flow needs. Mandatory withdrawals from retirement accounts begin for most taxpayers at age 72. But retirees who don't need the money often have questions. For example, what's the best time of year to take required minimum distributions, how…

Kristin McKennaOctober 24, 2022

Tax planning Updated for 2023

2023 IRS Contribution Limits and Tax Rates

The IRS has released the 2023 contribution limits for retirement plans and other cost-of-living adjustments. The agency also released tax brackets for ordinary income and long-term capital gains. (more…)

Kristin McKennaOctober 21, 2022

Bonds Cash Management Forbes Interest rates

What to Do With Cash When Interest Rates Rise

Good news is hard to find in the financial markets this year. But there is one silver lining: cash is worth something again. So if you're still keeping savings in a bank account yielding .01% annually, you're missing out. Here are four things to do with cash savings when rates…

Kristin McKennaOctober 10, 2022

Debt Management Forbes Home buying Interest rates Retirement Planning

Should You Pay Off Your Mortgage Before Retirement?

Is retiring with a mortgage a good idea? Most individuals will jump through hoops to live mortgage-free, regardless of whether it makes the most sense financially. Sure, all else equal, it's always better to reduce your expenses. But in most cases, all isn't equal: paying off a mortgage early or…

Kristin McKennaSeptember 30, 2022

Inheritance Sudden Wealth

What’s The Best Thing To Do With Inherited Money?

There are lots of ways to spend an inheritance. But just because you have options, doesn't mean they're all good options. After receiving an inheritance from a loved one, heirs will often wonder: what's the best thing to do with the money? As you consider what approach is right for your…

Kristin McKennaAugust 30, 2022

Bonds Building Wealth Current events Diversification Forbes Investing

9 Charts Every Investor Should See

Investing during periods of volatility can be difficult, especially when markets seem arbitrary. Gaining a historical perspective can help expectations for investors and reframe events into a more appropriate context. Whether you're a long-term investor trying to understand market moves or are concerned about your portfolio considering the downturn, here…

Kristin McKennaAugust 29, 2022

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