On September 5th Secretary of State Menuchin announced that the US and China will conduct trade talks. With that announcement, the Dow Jones Industrial Average rose almost 400 points or about 2% in one day. Such daily market movements are seeming to become routine. But it isn’t making investors feel good.
If you are a few years out of college (or your son or daughter is) and have a job, you’re finally in a position to start making a lot of financial decisions.
Once you have celebrated your independence, it’s time to get down to business for your future. And the time is now when it comes to making smart financial decisions. First up…
If you are like most people, you don’t spend much time thinking about your own demise. But when you die, someone is going to have to take care of your affairs. If you have a will and other estate planning documents in place, you’ll be leaving a wonderful gift behind because you’ll be simplifying what can be a lengthy and often complex process.
It's summertime and classes are over for college students and high schoolers are wrapping up their exams. Many kids already have jobs for the summer, but if yours doesn’t yet, you might want to consider hiring them yourself. There are many good reasons to hire your child this summer:
Working now is good preparation for the real world
Roth IRAs have become a great vehicle for managing your current and future tax situation. It can also be a helpful estate planning tool. But for many upper-middle income investors, contributing to a Roth IRA is not an option. Once your income exceeds $137,000 (single filers) or $203,000 (married filing jointly), you cannot contribute to a Roth IRA.