Personal Finance
REASSESS YOUR EXPENSES
REASSESS YOUR EXPENSES
- COVID-19 a wakeup call
- Doing without many activities
- Many former luxuries, not necessities
REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS
REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS
- U.S. market has outperformed foreign markets over the last decade
- Trim some U.S. holdings and add to some overseas markets
- Consider markets you are underexposed to and/or are unpopular
NORLEY: PLANNED PHILANTHROPY
- Make charitable giving part of your financial plan
- Americans give away hundreds of billions a year
- Need to plan for it financially
USNIK: VALUABLE ADVICE
- CEOs and philanthropists should create a sounding board of millennials
- Get their views on issues that matter to you
- Millennials are the employees, customers and investors of the future
TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLAN
TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLANS
2019 ALLOWED CONTRIBUTIONS RISING
- 401(k) OR SIMILAR WORKPLACE RETIREMENT PLAN:
- $19,000 for under age 50
- $6000 catch-up contribution for age 50 or older remains the same
- INDIVIDUAL RETIREMENT ACCOUNTS – I.R.A.’s:
- $6000 for under age 50
- $7000 for age 50 or older
-
- HEALTH SAVINGS ACCOUNTS – H.S.A.’s:
-
- $3500 for under age 55
- $1000 catch-up contribution for age 55 or older remains the same
- HEALTH SAVINGS ACCOUNTS = TRIPLE TAX BENEFIT
- tax-free contribution
- tax=free growth
- tax-free withdrawals
Watch the related WEALTHTRACK episode.
TALK TO EVERYONE YOU CARE ABOUT, NO MATTER WHAT AGE OR STAGE ABOUT ACHIEVING “POSITIVE FINANCIAL INDICATORS”
TALK TO EVERYONE YOU CARE ABOUT, NO MATTER WHAT AGE OR STAGE ABOUT ACHIEVING “POSITIVE FINANCIAL INDICATORS”:
- Having enough money to save for future needs
- Saving enough for retirement
- Feeling in control of your financial life
- Taking an active role in setting and achieving goals for your financial life
- Able to pay monthly expenses
Connect
Connect with us on the following social media platforms.