Many of us have experienced the cost of financial literacy gaps at one point or another. And if you’re like most folks, the gaps in your financial literacy probably cost you at least $500 last year alone. 1 Think of it as a type of financial illiteracy tax. However, there is good news: you do NOT have to keep paying it year after year. The more you brush up on your financial knowledge, the better...
In recent weeks, you may have heard the word recession a lot. You may even have a vague understanding of what a recession is, but would like a better understanding of what a recession really is. What the Dow Jones Industrial Average? You probably hear that every night on the news and you know that it has something to do with the stock market, but aren't sure of the details. Here are some common terms...
With income comes taxes, and investment incomes are no different. As your portfolio grows into retirement, it’s important to consider your pre-tax and post-tax retirement incomes, and how future tax liabilities may impact your overall retirement strategy. If you’re working with a savvy financial professional, they will consider these factors when building your plan. You should look into getting professional help with tax planning long before you retire. The U.S. tax code is thousands of...
There’s no doubt that it feels great to help someone in need through charitable giving. There are more than 1.5 million nonprofit organizations in the United States that range from food banks and disaster relief centers to churches and cultural centers. And in 2018, Americans contributed over 4 billion dollars to charitable organizations. While you may have altruistic reasons for donating to a charity that you support, there can also be tax benefits that come...