Many people have aspirations to build up their tax-free investments and do so inside of a Roth 401k. However, you may be surprised to learn that your Roth 401k contributions are not actually going into the Roth (tax-free) bucket, but instead into the Traditional (pre-tax) bucket. If you’ve followed my blog, then you know I […]
Are You Making Roth 401k Contributions? Think Again… Read More »
In a previous blog post, Is a 401k the Best Place to Save for Retirement, I showed that contributing to a 401k is far superior to a Taxable Account even if a person is in a very high tax bracket. But today, I want to compare the 401k vs IRA. If you only have so
401k vs IRA – Where Should You Invest? Read More »
Most people understand the importance of investing in their 401k, but I’d venture to say that many do not understand how to properly update the investments inside of their 401k. In fact, it can be very confusing (and frustrating) since there are actually three places that you need to make updates, not just one! And
Updating Investments in Your 401k: 3 Important Things to Know Read More »
Have you ever wondered whether or not a 401k was the absolute best way to save for your retirement? The conventional advice has always been to save toward tax deferred accounts (i.e. 401k’s) and tax free accounts (i.e. Roth IRAs) first and then to taxable accounts afterwards. But is this actually good advice?
Is a 401k the Best Place to Save for Retirement? Read More »
If you’ve ever purchased a home or gone through a refinance, then you may have been faced with the decision of whether or not to pay points to lower your interest rate. Ultimately you have to determine if it’s worth it to pay a sometimes large fee in exchange for a lower interest rate and
Should You Pay Points to Lower Your Mortgage Interest Rate? Read More »
With the stock market reaching all-time highs seemingly on a daily basis, you may be wondering whether you should (1) get out of the market and then reinvest at a downturn and / or (2) wait for a downturn to invest new money. In today’s blog post I answer these questions. SINCE THE GREAT
Should You Wait for a Downturn to Invest? Read More »
In October 2020, I wrote a blog post titled Why You Should Almost Never Choose a 15-Year Mortgage. The premise of the article was that you’re generally better off going with a lower-payment 30 year mortgage as it allows you to build more wealth. This post has garnered a lot of attention and a reader
5% vs 20% House Down Payment – Which is Better? Read More »
If you didn’t opt out of receiving the pre-paid child tax credit then you should have received your first payment on or around July 15th. While it’s nice to receive these advanced payments, you need to be careful as you could be in for a nasty tax surprise come tax time. Who’s Eligible? The
Beware of Pre-Paid Child Tax Credit Read More »
There has certainly been a lot of excitement lately around bitcoin. And if you were one of the lucky ones who purchased bitcoin at the right price, you’d be sitting on a pretty nice-sized fortune right now. But how should you treat bitcoin today? Should it be in your portfolio? Discover the answers to these
Should Bitcoin Be In Your Portfolio? Read More »
On Thursday, March 11, 2021, President Biden signed into law the $1.9 trillion American Rescue Plan. Below are highlights of the bill: Stimulus Payments If your adjusted gross income (AGI), based on your 2019 or 2020 tax return, whichever is the most recent on file with IRS, is less than or equal to $75,000
Summary of the American Rescue Plan Stimulus Bill Read More »
Throughout the years, the vast majority of people I’ve worked with really want to pay off their mortgage in 15 years. Despite the deep down temptation to be pay off your mortgage early, I only see 2 reasons why you should ever go with a 15 year mortgage in today’s environment. Fear and Comfort
Why You Should Almost Never Choose a 15 Year Mortgage Read More »
You’d love to save more money to your savings account, 401(k), and investment accounts, but it can be a challenge. Life gets in the way and you can’t seem to get ahead. This is often true regardless of how much money you make. In today’s blog post, I share one simple trick that you can
How to Save More Money Read More »
B.E.S.T. Wealth Management, LLC was founded on the principle that everybody deserves financial planning advice and help with investing money.
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