Next to “When should I claim Social Security benefits?” one of the more common questions people have is “How much will I receive?” Calculating your potential Social Security benefit is a three-step process: Calculate Your Average Indexed Monthly Earnings (AIME): The highest 35 years of indexed earnings is added together. It is then divided by [...]
Every year the Internal Revenue Service (IRS) releases its list of tax scams, spotlighting the myriad ways that people try to separate you from your money.¹ The 2015 “Dirty Dozen” Identity Theft Using your personal information, an identity thief can file a fraudulent tax return and claim a refund. If you’ve been a victim of [...]
Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you. Call me to discuss your financial situation at (952) 236-1755 or fill out the form below. I look forward to hearing from you!
Over half of Americans do not own any stocks, or stock-related investments, such as mutual funds, according to Bankrate’s Money Pulse survey.¹ Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the reasons may not be good enough. Why Invest? Make Money on Your [...]
Most portfolios are constructed based on an individual's investment objective, risk tolerance and time horizon. Using these inputs and sophisticated portfolio-optimization calculations, most investors can feel confident that they own a well-diversified portfolio, appropriately positioned to pursue their long-term goals.¹ However, as a retiree, how you choose to live in retirement may be an additional [...]
While many people are familiar with the benefits of a traditional 401(k) plans, others are not as acquainted with Roth 401(k). Since January 1, 2006, employers have been allowed to offer workers access to Roth 401(k) plans.¹ And some have rolled out offerings as part of their retirement programs. As the name implies, Roth 401(k) plans [...]
The average credit card balance in June 2015 was $15,706, down from its peak of $18,600 in 2009.¹ With the average credit card annual percentage rate sitting at 14.9%, it represents an expensive way to fund spending.² Which leads many individuals to ask, “Does it make sense to borrow from my 401(k) to pay off [...]