If you’re looking for a “set it and forget it” solution for choosing and managing your investments, target date retirement accounts are the closest you’ll get. But as with any investment, understand it before you buy it.
Karen Chan Financial Education & Consulting, LLC
Providing the information you need to make wiser decisions with your money.
Blog Archives
Automatic Rebalancing: Investing Made Simple, Part 2
The value of most investments changes every day. Over time, they can get seriously out of what compared to the allocation of stocks, bonds, and cash that you started with. If your account custodian offers automatic rebalancing, that can make it much easier to get things back to where they should be.
Index Mutual Funds: Investing Made Simple, Part 1
Index funds can make choosing investments easier. In addition, their low costs mean that they typically out-perform actively managed funds.
Tagged with: Expense ratio, Index mutual funds, Mutual funds, stocks
Posted in Investing, Organizing and simplifying your finances, Saving for retirement
Posted in Investing, Organizing and simplifying your finances, Saving for retirement
Beneficiary Designations, POD and TOD Take Precedence Over Your Will
When you think about passing assets to others upon your death, you probably think first of a will. In reality, a will only controls assets that aren’t transferred by any one of several other mechanisms, including beneficiary, POD and TOD designations.
Health Savings Accounts: What’s Not to Love?
Health Savings Accounts (HSAs) let you set aside money tax-free to cover deductibles and out of pocket health care expenses when you have a High Deductible Health Plan (HDHP). Distributions used to pay health care expenses are also tax=free.
Tagged with: HDHP, Health Savings Accounts, High Deductible Health Plans, HSA
Posted in Health Savings Accounts (HSA)
Posted in Health Savings Accounts (HSA)
Free Income Tax Preparation at VITA and TCE Sites
Free tax preparation is available at many locations throughout the country. Check eligibility and schedule your appointment before they fill up.
Reading Suggestions
In the January 2024 issue of Kiplinger Personal Finance magazine, there were two articles that make for very good reading. You can probably find the magazine at your local library. The same – or very similar articles – are also…
To Roth or Not: Deciding between Traditional and Roth Contributions to 403(b) and 401(k) Plans
Roth and tax-deferred options in employer retirement plans each have advantages. But the only bad decision would be not contributing at all.
Dear Young Friend: Retirement Savings Can Reduce Taxes
Early in your career, it’s hard to save money in a retirement plan that you can’t touch for 40 years. How about a Roth IRA?
Distributions from Roth Accounts: Qualified Distributions, Taxes, and Penalties
There are always two pots of money in a Roth account: contributions and earnings. Conversions are a 3rd pot. How are those different pots distributed?
Tagged with: 5-year rule, Designated Roth Account, Qualified Distribution, Roth Conversions, Roth IRAs
Posted in Roth Conversions, Roth IRAs
Posted in Roth Conversions, Roth IRAs
- Target Date Retirement Funds: Investing Made Simple, Part 3If you’re looking for a “set it and forget it” solution for choosing and managing your investments, target date retirement accounts are the closest you’ll get. But as with any investment, understand it before you buy it.
- Automatic Rebalancing: Investing Made Simple, Part 2The value of most investments changes every day. Over time, they can get seriously out of what compared to the allocation of stocks, bonds, and cash that you started with. If your account custodian offers automatic rebalancing, that can make it much easier to get things back to where they should be.
- Index Mutual Funds: Investing Made Simple, Part 1Index funds can make choosing investments easier. In addition, their low costs mean that they typically out-perform actively managed funds.
- Beneficiary Designations, POD and TOD Take Precedence Over Your WillWhen you think about passing assets to others upon your death, you probably think first of a will. In reality, a will only controls assets that aren't transferred by any one of several other mechanisms, including beneficiary, POD and TOD designations.
- Health Savings Accounts: What’s Not to Love?Health Savings Accounts (HSAs) let you set aside money tax-free to cover deductibles and out of pocket health care expenses when you have a High Deductible Health Plan (HDHP). Distributions used to pay health care expenses are also tax=free.
Karen Chan Financial Education & Consulting, LLC 