Taxes can be a silent drain on your investment returns over time, potentially reducing your portfolio performance by up to 2% per year, according to a study by Morningstar, which looked at pre- and after-tax investment returns from 1926 to 2023. Even if you haven’t sold a mutual fund or haven’t seen gains in your portfolio, you might still be on the hook for capital gains taxes—a tax obligation that can be largely out of your control. This effect is often referred to as the “mutual fund tax trap,” and…

Signing up for benefits offered by your employer can be one of the smartest financial moves you make. These benefits often provide substantial savings opportunities, helping you build a more secure future while handling everyday expenses more efficiently. Here are four tips for making the most of your annual enrollment and maximizing the financial advantages your employer offers. 1. Evaluate Your Health Care Needs One of the most significant financial decisions you make each year involves selecting the right health care plan. Health care costs can vary dramatically depending on…

“It’s the economy, stupid.” That famous line from political strategist James Carville, spoken during the 1992 presidential election, holds true today. Despite strong economic indicators—unemployment near historic lows, inflation falling from a pandemic high of 9% to 2.5%, and stock market highs—many Americans feel a growing financial strain. Recent polls show that the state of the economy remains a top concern for voters, with many households struggling with higher prices for everyday essentials like groceries and insurance. With the 2024 election fast approaching, the economic policies proposed by the candidates—former…

Bad financial advice is everywhere. Some of it might come from well-meaning friends or family, some from online “experts,” and some from your own misconceptions. Falling for common money myths can be dangerous for your financial health. Whether it’s about saving, investing, or using debt wisely, misunderstanding key financial principles can lead you to make costly mistakes. Here are six myths you need to avoid if you want to build and preserve your wealth. Myth #1: It’s Not Worth Saving if I Can Only Contribute a Small Amount One of…

The Federal Reserve recently made headlines with a significant move, cutting its key interest rate by 0.50 percentage points, bringing the federal funds rate to a target range of 4.75% to 5.00%. This decision was anticipated by many investors, though there was some speculation as to whether the Fed would opt for a more moderate 0.25% cut or take the bolder step of a 0.50% reduction. Now that the rate cut is official, what does it mean for the economy, consumers, and investors? Let’s dive into six key takeaways that…

Exchange-Traded Funds (ETFs) have become increasingly popular among investors due to their versatility, low costs, and potential for diversification. Whether you’re a beginner or an experienced investor, ETFs can play a key role in your investment portfolio, offering access to a wide range of asset classes and sectors. But with so many ETFs available, building a well-rounded portfolio might feel like a daunting task. Don’t worry—this blog post will guide you through a straightforward, five-step process for constructing a portfolio entirely made up of ETFs. By following these steps, you’ll…

Investing is often portrayed as a way to “get rich” or “beat the market.” However, the most successful investors understand that investing is much more than that—it’s an essential part of achieving financial wellness. Financial wellness means having the ability to meet your needs, support those who rely on you, and achieve goals that extend beyond simply paying bills and managing debt. By adopting the right habits, even in challenging market conditions, you can build a more secure financial future. Here are six key secrets that highly successful investors use…

In the fast-paced world of modern finance, options trading has seen a dramatic surge in popularity, capturing the attention of investors, institutions, and financial experts alike. Once considered a niche strategy reserved for seasoned professionals, options trading has gone mainstream, with retail traders and traditional fund managers alike embracing the potential rewards. The allure of options, particularly options-selling strategies, is undeniable: the possibility of generating income by selling put and call options while betting on price stability or minor movements in stock prices. However, with great opportunity comes great risk….

In today’s fast-paced, technology-driven world, online education has become a game-changer for millions of students. No longer limited to traditional classrooms, learners can now pursue degrees, certifications, or skill development from the comfort of their homes—or anywhere with an internet connection. As a financial advisor and college planning expert, I often encounter families and students who are curious about online education but unsure about where to start. This blog post aims to introduce you to America’s thriving online education landscape, explore the top subjects, and highlight the top online schools…

When it comes to planning for college, many parents and students feel overwhelmed by the high costs. Headlines about the soaring cost of tuition can easily induce sticker shock, especially for families with modest incomes. Despite this, the vast majority of parents still consider college a top savings priority. According to Fidelity Investments’ 2024 College Savings Indicator Study, 77% of parents believe a college education is worth the cost. While the cost of college has risen significantly in recent years, there’s more to the story than just the published tuition…