December 2024 Questions
There were many great questions asked in a recent Q&A session with T-Mobile employees! How can T-Mobile employees make the most of their paycheck and resources in ways non-T-Mobile employees cannot? What will happen to the RSUs that haven't vested when I retire? Can I have an HSA if I'm on Medicare? How do you reduce exposure to T-Mobile stock without a huge tax impact? What is recommended to put into a 401(k) before retirement age? How much is too much to contribute to a pre-tax 401(k)? What are some good apps for individual investing? What are stable options to invest in long-term growth? What are some things to consider when inheriting a Roth IRA? What are your thoughts on investing in crypto?
17 Investment Signs You Need a Financial Plan
17 investment signs you need a financial plan: 1. Your Financial Advisor “Doesn’t Charge You Anything”, 2. You Don’t Know Why You’re Receiving Information, 3. You Own a Muni in a Retirement Account, 4. You Own Company Stock and Don’t Participate in the ESPP, 5. You’re Married and Don’t Know What a Spousal IRA Is, 6. You Don’t Invest Funds in a Health Savings Account, 7. You Feel You Must Earn at Least 15% a Year to Retire, 8. Your Accounts Are All Diversified, 9. You Own Art or Antiques, 10. You Think You Wear Large, Mid, and Small Caps, 11. You Don’t Know What Required Minimum Distributions Are, 12. You Aren’t Getting Your Company’s Full Match, 13. You Pull from Retirement Accounts While Still Working, 14. You Own a Small Business and Don’t Know What QSB Stock Is, 15. You Think a Roth 401(k) and IRA Are The Same, 16. You Take Investment Advice from a Luber Driver, and 17. You Think an Investment Is a “Sure Thing”
Potential Financial Steps for T-Mobile Employees in December
What financial steps might T-Mobile employees take in December? Options might include: make year end retirement contributions, update resume and career plan, harvest tax losses or gains, review Social Security statement(s), and update 401(k) contribution rate.
Happy Thanksgiving!
Happy Thanksgiving, all!
I have even more than usual to be thankful for this year - including family, health, time, clients, support, and generator.
Is All Debt Bad?
Is all debt bad? Debt is powerful. Like any tool, it has its uses and must be handled with care. Benefits of credit include: current spending, credit score, protection, rewards, and current opportunities. Drawbacks of credit include: higher spending, interest and fees, future flexibility, credit availability, and financial risk.
12 Emotional Signs You Need a Financial Plan
12 emotional signs you need a financial plan: 1. You lose sleep thinking about money. 2. You fret when the market drops. 3. You watch financial news more than once a week. 4. You spend more than an hour a week on finances. 5. You want to travel but can’t afford it. 6. You worry about healthcare costs. 7. You fear Social Security will go bankrupt. 8. You worry you may never be able to retire. 9. You feel you need $1, $3, $5, or $10 million to retire. 10. You think retirement is quilting/shuffleboard/Bingo! 11. You believe your finances will “work out eventually.” 12. You feel your money could do more.
Potential Financial Steps for T-Mobile Employees in November
What financial steps might T-Mobile employees take in November? Schedule spring Paid Time Off (PTO), plan tax loss or gain harvesting, finalize year end charitable giving, purchase holiday gifts and review / rebalance investment portfolio.
October 2024 Questions
There were many great questions asked in a recent Q&A session with T-Mobile employees! Does it make sense to contribute to a 529 now that my kid’s in high school? I moved for work. Should I sell my old home? Would a Roth conversion after retirement lower my taxes? Instead of keeping your 401(k) until you are 59 1/2, should you take some early? When you take 401(k) distributions before you reach retirement age, is there still a penalty? How do we make the most out of our rental property? What are best practices for us renting ir or using a property management company? Do you have best practices for how to treat the extra cash, $1,500 a month? We have been married for 10 years and have not joined our finances. Is that recommended? Would I be taxed like crazy if I sell my stock?
XYPN Live 2024
XYPN Live 2024 was good! The event marked the 10th anniversary of the XY Planning Network. It brought together many fee-only advisors and vendors from across the industry. In this article, I share some of my insights on the conference.
I Changed Jobs. Should I Roll Over My 401(k)?
I changed jobs. Should I roll over my 401(k)? It depends. There are potential benefits and cost of either rolling an old 401(k) into an IRA, rolling thee 401(k) into another 401(k), or keeping the 401(k).
Potential Financial Steps for T-Mobile Employees in October
What financial steps might T-Mobile employees take in October? Perhaps: evaluate stock purchased with the Employee Stock Purchase Plan (ESPP), book holiday plans, complete open enrollment, update beneficiaries and estate plan, and plan year end health expenses.
Risk Capacity Matters More Than Risk Tolerance
Risk capacity matters more than risk tolerance. Someone’s ability to take risk depends on their financial circumstance. That’s their risk capacity. Risk tolerance depends on many factors and is more fluid.
Save More Tax on Donations
Millions of people give to charity, which is wonderful! However, they often give cash each week, month, or year. That method can cost more! It’s often better to: donate appreciated assets, bunch donations, or contribute to a Donor Advised Fund.
Transactions in Retirement Accounts Aren’t Taxed… Yet
When something keeps coming up in conversations, I prioritize it for content! Some very intelligent, educated, and succesful people haven't been sure how investment changes within retirement accounts are taxed. Fortunately, investment changes don't usually have an immediate tax impact! Adjusting these accounts may be the best way to rebalance a portfolio.
Potential Financial Steps for T-Mobile Employees in September
What financial steps might T-Mobile employees take in September?
Select employee stock purchase plan contribution percentage
Book Thanksgiving plans
Start benefits and insurance review
Replenish emergency fund
Schedule remaining Paid Time Off (PTO)
We Rode in a Self-Driving Vehicle
Our family rode in a self-driving car. While on vacation in San Francisco, we kept seeing these driverless vehicles. Although I've caught hundreds of rides with ride sharing services, this one felt different!
Is Insurance an Investment?
Is insurance an investment? There’s a healthy debate on the subject! This article explores: the definition of an investment, how insurance benefits are taxed, the way accounting treats premiums, how premiums are used by insurance companies, and the result of a recent poll.
What Financial Steps Might T-Mobile Employees Take in August?
What financial steps T-Mobile employees might take in August?
Shop for Back to School
Take summer vacation
Review investments
Submit dependent care reimbursements
Check financial independence plan
Turn $200,000 into $13 Million?
Most people want to get rich NOW. That's now (usually) how wealth is built. Want to know the secret? Time.
What Are Large, Mid, and Small-Cap?
What are large, mid, and small cap? There’s a clear definition… in theory. Reality is messier.
