Did you know that losing money can be hazardous to your health? A recent study published in the Journal of the American Medical Association found that participants who lost 75% or more of their wealth in a short period of time had a 50% higher risk of death over the next 20 years. These sudden …
Continue reading “Five Ways to Protect Your Wealth and Health”
In 1969, the Beatles were still together, fringe was haute couture, and a Big Mac cost $0.50. Fifty years later, Abbey Road posters still adorn dorm room walls, but the only thing $0.50 will buy at your local McDonald’s is a sesame seed bun and a pitying look from the cashier. Like death and taxes, …
1. Fly for free Travel can be the most expensive line item in your vacation budget, with two-way airfare ranging from $500-$1,500 for a single flyer. Luckily, there are multiple ways to earn free airline miles that can reduce or even eliminate the cost of your ticket. If you travel often or have a favorite …
The average federal tax refund for 2019 is $2,725—enough to buy two 70-inch flat screen TVs and a steak dinner. But while it might be tempting to rush off to the nearest Best Buy and indulge in a luxury purchase, GoBankingRates reports that most Americans plan to use their refunds to pay down debt, invest, …
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Every year, America’s seniors lose $36 billion to financial elder abuse, a term that covers scams, frauds, theft by family members, and caregiver exploitation schemes which specifically target adults over the age of 50. The American Bar Association calls it the crime of the 21st century, an epidemic which the Executive Director of the National …
The SEP IRA is the redheaded stepchild of retirement accounts. Less common than traditional and Roth IRAs and lacking the corporate glamor of a 401(k), SEP IRAs are a frequently forgotten, yet highly effective path to retirement security. Could a SEP IRA be right for you? What is a SEP IRA? Part of the …
Choosing an investment management firm is an important step in building wealth. Choose the wrong one and you risk losing your investment to poor management and high fees. Not every firm is right for each investor. Here are some strategies you can use to find the right investment management firm for your needs. Be …
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The world of investment advisors and stockbrokers can be confusing. Both investment advisors and stockbrokers can manage your portfolio, help you invest, and suggest strategies to help raise your returns. The major difference between the two is a matter of professional ethics; only investment advisors are held to the fiduciary standard. Here is what you …
Continue reading “The Fiduciary Standard and Investment Management”
The first tax season under the Tax Cuts and Jobs Act is off to a rocky start. Not only has the IRS had to cope with the new legislation, which was passed at the very end of 2017, but the government shutdown that occurred in January left the agency with a sizable backlog of taxpayer …
Continue reading “What Happened to My Refund? 4 Reasons Your Tax Refund Might Be Smaller in 2019”
Retirement can be one of the most exciting—and daunting—transitions you experience. You’ve put in your time at the daily grind, hit the peak of your career, and begun to wind down. Hobbies, projects, vacations, and family connections that you’ve set aside in the last few decades begin to beckon. But it isn’t all iced tea …
Continue reading “How Should I Prepare for Retirement? Try These 6 Tips”
Recessions are a fact of modern life. We can’t predict them, but we know they occur, on average, every 7-9 years. We know that the U.S. has had 47 recessions, beginning with the Panic of 1785. And we know that there are warning signs: rising interest rates, stock sell-offs, large amounts of consumer debt, inverted …
Tariffs, tax reform, rising interest rates, and more–2018 may be on the wane, but this year’s financial headlines will be with us long after January 1st, 2019. To usher in the New Year, Cowen Tax Advisory Group compiled the most important financial stories of 2018. While some topics saw more press time than others, all …
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