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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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The Changing College Landscape

The 2020-2021 academic year is right around the corner, and the coronavirus pandemic has upended the college world, like everything else. Not only has COVID-19 impacted short-term college operations and student summer plans, but the virus could end up being the catalyst that changes the model of higher education in the long term. Here are some things to know about the changing college landscape. College funds. Market volatility has been at record high levels this year, and college nest eggs…
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Markus Winkler

Tapping Retirement Savings During a Financial Crisis

As the number of COVID-19 cases began to skyrocket in March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation may make it easier for Americans to access money in their retirement plans, temporarily waiving the 10% early-withdrawal penalty and increasing the amount they could borrow. Understanding these new guidelines and the other rules for loans and early withdrawals may help you determine if they are appropriate options during a financial crisis. (Remember that tapping…
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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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Can You Avoid a Layoff?

You may be a dedicated employee who has worked for the same employer for many years, yet you still may be susceptible to getting laid off. Sometimes getting laid off is inevitable, but rarely does a company lay off all of its workers. Usually, it retains those who are most valuable and offer the greatest benefit, sometimes at the least cost. Fortunately, there may be some things you can do to make the decision to lay you off a little…
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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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Shopping for an Annuity

Although many insurance companies offer annuities with the same (or at least similar) features, that doesn’t mean that all products and all companies are the same. As with all financial products, you should shop around and compare. Here are some things to consider when shopping for annuities. Financial stability Moody’s, Standard & Poor’s, and A. M. Best all rate insurance companies for financial stability and customer satisfaction. When purchasing an annuity, it is best to consider buying only from companies…
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Trust Basics

Whether you’re seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility–many types of trusts exist, each designed for a specific purpose. Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics isn’t hard. What is a trust? A trust is a legal entity that holds assets…
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