Recently, my child, a high school freshman, started a personal finance class at school. As a parent, I’m thankful she has the opportunity to increase her financial literacy in a structured way. Although, it reminds me that many financial lessons are learned through the course of daily life. Some adults have not been taught financial literacy, and for them, those lessons can often be learned the hard way. Why We… Read More
As of the end of 2022, Americans held approximately $37.8 trillion in retirement plans and accounts ($26.3 trillion in employer-sponsored plans and $11.5 trillion in IRAs). These accounts have been around a long time, IRAs and 401(k)s were both initially established in the 1970s. If they were collectibles, they’d be approaching vintage status. Most of us enjoy the allure of new and shiny gadgets, so it’s easy to… Read More
Today’s blog post is part of our 4th quarter series and will discuss some of the details associated with capital gains tax planning. Lyle’s previous blog in this series, Understanding the U.S. Tax System Through a Simple Story, highlighted the ordinary income tax brackets. His analogy helped to clarify the reality of how our tax code works for ordinary income. Ordinary income includes wages, salaries, and interest earned and is… Read More
When I was probably about 10 years old, I went on my first big roller coaster at Busch Gardens Williamsburg with my Dad. I was very nervous about this ride, and Dad was trying to keep me calm as we waited in line. Right before we were about to board, he pointed out a sign that said how many people had rode the coaster (4 million + or so) and… Read More
