Changing Jobs? Know Your 401(k) Options

If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It’s important to understand your options. What will I be entitled to? If you leave your job (voluntarily or involuntarily), you’ll be entitled to a distribution of your vested balance. Your vested balance always includes your own contributions(pre-tax, after-tax, and Roth) and typically any investment earnings on those amounts.It also includes employer contributions (and earnings) that have satisfied your…
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Year-End 2021 Tax Tips

Here are some things to consider as you weigh potential tax moves before the end of the year. Defer Income to Next Year Consider opportunities to defer income to 2022, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a year-end bonus or delay the collection of business debts, rents, and payments for services in order to postpone payment of tax on the income until next year. Accelerate…
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Women Face Challenges in a Post-Pandemic World

The COVID-19 economic crisis tested the mettle of all Americans, particularly working mothers. Research shows that the pandemic’s impacts on women have been far-reaching and potentially long-lasting. Now that the U.S. economy is picking up steam, it may be more important than ever for women to re-examine their retirement planning strategies. Effects of the COVID-19 Economy The COVID-19 recession had a disproportionate impact on working women because sectors that typically employ them — including retail, hospitality, and health care —…
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Watch Out for These Financial Pitfalls in the New Year

As people move through different stages of life, there are new financial opportunities and potential pitfalls around every corner. Here are common money mistakes to watch out for at every age. Your 20s & 30s Being financially illiterate. By learning as much as you can about saving, budgeting, and investing now, you could benefit from it for the rest of your life. Not saving regularly. Save a portion of every paycheck and then spend what’s left over — not the…
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Money Hacks

There is a big trend right now of life hacks. So, I came up with three money hacks that you can do now to change how you think and feel about your money. Open your wallet. Look at your money and how it is organized. Is your money a mess in your wallet? Or is it nicely organized? If you have all your money in an orderly fashion that is much different than if your money is out of order,…
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Job Loss – How to Financially Cope

If you have lost your job, it is important not to panic. Breathe. Stay calm. Everything always works out how it is supposed to. Here are four things you can do now to ease the stress financially and emotionally if you have been laid off. Assess your situation. Now is the time to be calm and to stop and look where you are and where you would like to be. If you don’t have a budget, create one. If you…
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It Is Not How Much You Make, It Is How Much You Keep

You probably have heard this phrase before and it is true. “It is not how much you make, it is how much you keep.” That is the truth. If you make $100,000 a year and you spend $100,000 a year you will not get ahead. If you spend more than you make, or spend everything you make, you cannot get ahead. Life is about being happy. Spending money and having stuff does not bring happiness. Research from the San Francisco…
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Six Keys to More Successful Investing

A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully. Long-term compounding can help your nest egg grow It’s the “rolling snowball” effect. Put simply, compounding pays you earnings on your reinvested earnings. The longer you leave your money at work for you, the more exciting…
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Singles Virtual Networking

Dating is hard, but with social distancing, it’s near impossible! Join us for our virtual singles mixer on Friday, May 1st from 4:00-5:00pm CST. Grab a cocktail and meet some other amazing singles from around the Twin Cities.

The Stimulus Package – What You Need to Know

On Friday March 27, 2020 Congress approved the $2 Trillion Stimulus Bill in response to COVID-19 to assist tens of millions of American households that are being affected by the virus. Below is a list of frequently asked questions regarding this Stimulus Bill that we have compiled: Stimulus Payments Q: How large would the payments be? A: Most adults would get $1,200, although some would get less. For every qualifying child age 16 or under, the payment would be an…
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