Budgeting Building Wealth Cash Management Diversification Financial Planning Forbes

Manage Your Money Better By Focusing on What You Can Control

Focusing on what you can control is one of the best ways to manage your money. Investors often fail to recognize the aspects of their financial situation that are within their control. For example, if asked why you don't have more extra cash leftover each year, what would you say?…

Kristin McKennaJanuary 18, 2021

Bonds Interest rates Investing

How Do Interest Rates Affect Bonds? Relationship Between Rates, Bond Prices and Yields

One of the most important things to know about bonds is how changes in interest rates affect bond prices, and therefore yields (unless held to maturity). The relationship between interest rates, bond prices, and bond yields is based on a few simple investing principles. Bond prices move inversely to interest…

Kristin McKennaJanuary 11, 2021

Financial Planning Updated for 2021

5 Financial Tasks to Prioritize in the New Year

There's no better time than the present to get your finances ready for a new year. Unfortunately, for many busy professionals, there just isn't enough time in the day to tackle seemingly non-urgent matters. As a CERTIFIED FINANCIAL PLANNER™ professional, I've seen how unintentional oversights and a lack of planning…

Kristin McKennaJanuary 4, 2021

401(k) Plans Forbes Inheritance Updated for 2021

If You Inherited A 401(k) From A Parent, Here’s When You Need To Take The Money—And When You Should

As part of the Secure Act, most adults who inherit a 401(k) from a parent must take the money in 10 years. Depending on your financial position and life stage, this could complicate your tax situation. After inheriting a 401(k) from a parent, consider ways to balance the benefits of…

Kristin McKennaDecember 15, 2020

Financial Planning for Couples Forbes Retirement Planning Updated for 2021

How Couples Can Save For Retirement When One Spouse Stays Home

How should married couples save for retirement with only one income? Saving for two when one spouse is the primary breadwinner or a stay-at-home parent can be challenging depending on your income. Fortunately, with proper planning, an eye on expenses, and enough time, couples can still save for retirement when…

Kristin McKennaDecember 11, 2020

401(k) Plans Inheritance Tax & Estate Planning Tax planning Updated for 2021

Inherited a 401(k) From a Parent? Tax Planning for Distributions

If you've inherited a 401(k) from a parent, you likely have questions about your options for the account and the tax impact. Luckily, non-spouse beneficiaries usually have some control over how to manage an inherited 401(k) plan. However, as part of the Secure Act, most adults who inherit a 401(k)…

Kristin McKennaNovember 23, 2020

Early Retirement Retirement Planning

How Much Money Do You Need to Retire Comfortably At 60?

How much money do you need to retire comfortably at 60? That depends entirely on how much you plan to spend in retirement. Absent a large pension or other source of income, as your expenses grow, your retirement savings must also. While retiring at 60 isn't terribly early, it is…

Kristin McKennaNovember 16, 2020

Financial Planning Forbes Tax planning

Year-End Financial Checklist: 4 Money Moves You Should Prioritize Now

The end of the year is a busy time for most people. Unfortunately, it is usually also the last opportunity to make financial moves that will count towards the current year. If you've been slow to tackle your financial to-do list this year, consider completing your checklist before the end…

Kristin McKennaNovember 9, 2020

Retirement Planning Tax planning Updated for 2021

New IRS Contribution Limits for 2021

The IRS has released the 2021 contribution limits for retirement plans and other cost-of-living adjustments. (more…)

Kristin McKennaOctober 28, 2020

401(k) Plans Employee benefits Forbes Retirement Planning Tax planning Updated for 2021

Roth 401(k) vs Traditional 401(k): Investing Pre-Tax or After-Tax

Which is better, a Roth or traditional 401(k)? The central difference between a Roth 401(k) and traditional 401(k) is the tax treatment of your contributions. Investors make traditional 401(k) contributions before tax while Roth savings occur after tax. Which is best for you will depend on your current/future tax situation,…

Kristin McKennaOctober 26, 2020

Wealth Management Insights