The Internal Revenue Service (IRS) has announced the upcoming contribution thresholds for retirement savings vehicles in 2026, offering a little more breathing room for workers and savers. Knowing the changes ahead can help you adjust your strategy and continue building your nest egg effectively. What’s Increasing in 2026 The contribution cap for most 401(k) plans [...]
Roth IRAs come with powerful long-term advantages, especially the promise of tax-free income in retirement. However, those benefits depend on following a few important rules, including a timing requirement known as the five-year rule. Since this rule affects when withdrawals become tax-free, every Roth IRA owner should be familiar with how it works. 1. Your [...]
Understanding economic cycles is fundamental for both business decision-making and personal financial planning. The economy naturally moves through phases of expansion, peak, contraction, and recovery. Knowing where we stand today can inform smarter choices for your future. What Are the Phases? In the early-cycle phase, the economy moves out of a trough or recession: consumer [...]
For many people, the idea of retiring early, perhaps in their 50s or even 40s, sounds like a dream come true. The freedom to travel, spend more time with family, or pursue passions without financial stress is deeply appealing. But is early retirement a realistic goal, or just a fantasy? The answer depends largely on [...]
Many people approach retirement with a general idea of how much they will spend each year, often based on the assumption that their costs will decrease once they stop working. While some expenses may go down, others can stay the same or even rise. Underestimating retirement expenses is one of the most common mistakes people [...]
When people want to know how the economy is doing, they often look at the stock market. Rising stock prices can give the impression that everything is strong and healthy, while a market downturn may feel like a sign of economic trouble. The truth, however, is that the stock market is not always a perfect [...]
As the leaves change and the year begins winding down, fall is the perfect season to tidy up more than just your home. Before the rush of the holidays sets in, take some time for a financial “fall cleaning.” Organizing your accounts now can give you peace of mind, prevent year-end stress, and set you [...]
When most people think about legacy planning, they picture leaving money, property, or investments behind for loved ones. But passing on wealth isn’t just about what you leave; it’s also about how you leave it. Without proper planning, your legacy could unintentionally create confusion, stress, or financial hardship for your heirs. The Problem With Going [...]
Interest rates are one of the most important financial concepts to understand, yet many people are unsure how they actually impact their day-to-day finances. Whether you’re saving, borrowing, or investing, interest rates play a major role in determining what happens to your money over time. What Is an Interest Rate? You probably already know that [...]
One of the most important financial decisions you will make during your retirement planning process is deciding when to start collecting Social Security benefits. Many people assume that taking benefits as early as possible is always the best move. Others believe waiting until age 70 is the smartest strategy. The truth is, the right answer [...]