Yes both of these accounts carry the name ‘Roth’ and both carry the same promise. You pay your tax on the way in meaning you are funding these accounts with after tax dollars. When you make a qualified withdrawal later,…
Most retirement advice is about one thing: how much to save. Save more. Contribute more. Get the match. All of that is sound and good advice and things I talk about on this site. But it addresses only half of…
The question people ask about Social Security is how the program works. The question that actually needs answering is when should you file for benefits. That decision has three realistic answers. You can file at 62, which is the earliest…
It has been 23 years since Isabella both entered and exited this world. Straight from the warmth and comfort of her Mom directly to the hands of God. That is what I believe. That belief is in large part how…
Last week I published a post on how to read an earnings release. It focused on United Airlines (Ticker UAL) and Johnson & Johnson (Ticker JNJ). This week the market provided a few more earnings releases that helped solidify some…
A couple of my daughter Thalia’s friends asked me recently how to open a Roth IRA. They had just turned 18, they had some summer job money, and they wanted to know where to actually put it. I had not…
Four times a year, every public company you own puts out an earnings release. Most casual investors do not really dig into the detail when this happens. They quickly see if the company beat expectations and look to see how…
I strongly believe in utilizing investment property to supplement your income and diversify your wealth. If you do not want to be dependent on Social Security income in retirement, investment property is a great way to lessen that dependency. It…
I want to preface this post with a few comments: Now to the post. After reading so much about these accounts, the main question I kept coming back to is likely one you might have as well: Does the money…
I recently wrote about the retirement issue of having most of your wealth tied up in your home. You can read about that at House-Rich Cash-Poor in Retirement. This post is covering a different topic and I do use my…
My mother owns her home outright, owns a rental property outright, and has a retirement account that I manage for her. I tell her all of the time she is a millionaire on paper. That does not matter to her…
When I was younger, “millionaire” was the finish line. It was the lofty goal. It was the word people used to mean you had made it. It showed up in game show titles, in song lyrics, in the quiet way…
I have gotten to the office early my entire working life. First one in, every job I have ever held, because I get a lot done before the world wakes up and I have never needed much sleep. I am…
Why Businesses Succeed and Households Struggle After more than three decades working in some type of finance role, I have come to learn what makes businesses successful — and what makes businesses fail. The companies that survive and those that…
Before anything else, let’s acknowledge something: if this post applies to you, that is a win. It means you’ve worked your way to a place where there’s money left over — money that isn’t already spoken for by a bill…
In How Many Stocks Should You Actually Own?, we covered how to build a portfolio of individual stocks. Now comes the question that experienced investors often say is harder than buying — when should you sell? Selling is one of…
Paying off debt is one of the most common financial challenges I have helped people work through, and one of the most misunderstood. I have been in some type of a finance role my entire life. Along the way I…
In a recent post, How to Research a Stock Before You Buy It, I walked through the framework — what to look for, what matters, and why. This post is meant to accompany that one with a real stock research…
In How to Research a Stock Before You Buy It, we covered the basics of figuring out whether a company is worth owning. Once you start putting that knowledge to work, the next question is — how many stocks should…
In my last post, ETFs and Index Funds vs Individual Stocks, we talked about when it makes sense to start adding individual stocks to your portfolio. If you have decided you are ready to take that step, the natural next…
If you have read What Is an ETF? and Index Funds vs ETFs, you understand how to get into the stock market with one simple investment that instantly diversifies your money across companies and/or technologies. The next question almost every…
If you have learned what an ETF is, you have probably come across the term: index funds. In What Is an ETF?, we discussed the confusion of where to put your money once you have started saving it. Stocks, bonds,…
If you have started saving money — or are starting to think about it — or are sitting on money you have been afraid to invest — the next question is simple: What do you actually do with that money?…
As retirement is likely not on your mind when receiving your first paycheck, it is easy to think that saving some of that first paycheck doesn’t really matter. This is why it is so important to start saving with your…
You just got hired. Congratulations! Whether this is your first job in high school or your first career position out of college, the decisions you make now can set financial habits that follow you for decades.Learning how to prepare for…
Introduction Building a budget is critical as I talk about in Budgeting 101. Tracking your actual expenses versus that budget is also critical. While these steps are crucial, they don’t serve much of a purpose unless you modify your behavior…
Introduction I believe a budget is a critical step on the road to building wealth. Most people don’t have one—at least not one that reflects how they actually spend their money. Because of this, most people don’t fully understand where…
Introduction Most people think building wealth is out of reach—and because of that, most people don’t think about it at all. That mindset is a big reason why so many people live paycheck to paycheck. This beginner’s guide to building…
Your debit card is more harmful and risky than you realize—and it could be costing you in ways you may not have considered. One of the most common mistakes I see people make is using a debit card over a…
So much of the country is living paycheck to paycheck. In my opinion, one of the contributing causes is the way people view their checking account balance. If you are like most people, you log into your bank account or…