Wonderfully done post by Trevor Farnes, the founder of MTN Ops: Whose Bids Are You Accepting? A few years ago, I had a dream I’ll never forget. I was standing on a stage in front of a large crowd, some faces familiar, some not. All of them were raising their hands at different times, bidding … Read more
As an engineer, you already likely know the importance of accurate input when it comes to the final equation, which may put you ahead of the game when it comes to managing your finances. Below are a few ways engineers could apply their skills to their financial planning process. Automate and Optimize Your Finances In … Read more
Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2024. How much can you save in an IRA? The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2024 will be $7,000 (or 100% of your earned … Read more
When filing your income taxes, each taxpayer is different. Some prefer reducing the taxes they owe and getting the most significant possible refund, while others work to keep the taxes they pay as low as legally required. The IRS provides a few ways taxpayers can reduce the taxes they owe if they qualify for certain … Read more
529 plans are tax-advantaged savings vehicles designed to accumulate contributions and help pay for the beneficiary’s qualifying education expenses. Sometimes, 529 plans have unused funds after the beneficiary graduates or decide to discontinue their education. There may be other reasons the funds were not used, such as: · The beneficiary received scholarships · The beneficiary … Read more
Veterans and military members have access to various investment options, some of which are not offered to the general population. Managing investments depends on individual goals, risk tolerance, and financial situation. Here are some investment options for veterans and military members to consider. Thrift Savings Plan (TSP) A TSP is a retirement savings and investment … Read more
Tax benefits, flexible contribution options and potential investment growth For many families, there’s a sense of excitement and anticipation that fills the air as high school seniors prepare to embark on their next journey: college. Graduation holds significant importance for students and their families, as it marks a critical juncture in the college planning process. … Read more
A donor-advised fund (DAF) is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. The benefits of DAFs extend beyond their primary purpose of facilitating philanthropic activities. One of the main incentives of DAFs is the tax benefits donors receive from giving. Donors … Read more
The SECURE 2.0 Act has sparked retirement confusion and concerns Retirement planning has become a puzzle of intricate legislation, and the recent changes brought about by the SECURE 2.0 Act have only added more complexity. While some alterations aim to enhance the retirement landscape, others have sparked confusion and concern, especially regarding catch-up contributions for … Read more
What if you focused on your system instead of just your goals? Setting goals for a new year can feel overwhelming. We all know that resolutions don’t last, but we also feel the energy that comes with a new year of possibilities. Here’s a clearer path for setting and reaching your goals. Many of us … Read more