‘Every month I express my concerns to my adviser, but he says not to worry.’ My 401(k) has lost over 20% and I can’t afford to lose that kind of money. Is it time to find a new adviser?
Question: My 401(k) was doing ok for a while, but since January of this year it has been losing money that I can no longer afford to lose. I want to retire in a year and my 401(k) has lost over 20% and was not that large to begin with. Every month I express my concerns […]
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Financial Literacy Group launches Hybrid Mortgage Arbitrage.
How do banks, credit unions, and other organizations in the finance industry use tax-advantaged products to offset costs? Bank Owned Life Insurance (BOLI) is a great way for banks to save money on their employee benefit costs. Banks are responsible to pay their employees an adequate employee benefit package. All while being fiscally responsible and […]
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Be Like Buffett
Warren Buffett didn’t become a billionaire overnight. Instead, he leveraged simple concepts over decades to build a vast fortune. (He didn’t become a billionaire until age 57.) But the vast majority of his wealth wasn’t created until he was past the normal retirement age… Read the full article » I publish new articles every week, […]
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EY financial wellness tool sees 47% increase in visits
Research shows people of all ages are increasingly turning to financial planners and advisers for help with overall financial wellness as well as retirement planning. Recent research shows that people of all ages are seeking more help with financial wellness and retirement savings and planning, and many are interested in financial wellness help from financial […]
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How to close the racial wealth divide
Rodney Brooks has spent most of his life as a financial journalist but offering informal advice to his African-American friends and colleagues has been a big part of who he is as a person. And his support has been a game-changer for those lucky to cross paths with him. That’s particularly true of those he […]
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The Employee Retention Credit: Businesses may be missing out on dollars
As businesses continue to recover from losses during the pandemic, some may be missing out on money they are entitled to get back from the government through a credit against the employment taxes they pay. The Employee Retention Credit (ERC) is an $80 billion tax program. “It was really designed to give employers money back to […]
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Here’s the average net worth of Americans ages 55 to 64
Net worth tends to increase with age as you earn a higher salary, own more assets and reduce debt. Here’s the average net worth of people in their 50s and 60s. The median household net worth in the U.S. is $121,700, but it’s almost double that for those in their late 50s and early 60s. According to […]
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Financial Literacy Group LLC, Launches Affordable Digital Hybrid Financial Wellness Solution called Betterment Inc.
Betterment Inc., is a customizable technology driven, digitally integrated financial wellness solution that is a catalyst for improvement in workplace culture. This hybrid financial wellness solution educates, informs, engages, and equips each employee with the knowledge and tools they need to take control of their financial future. Betterment Inc., is a progressive financial wellness solution that makes […]
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Experts Anticipate Upcoming Financial Education
President-elect Joe Biden’s win renews hope for financial wellness strategies in the future, and such changes could come with possible requirements for employers, employees and advisers. With a new president coming into office in January, it’s time to focus on financial wellness education, industry experts say. President-elect Joe Biden has outlined plans for taxes, retirement planning and […]
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The Wealth Gap
How big is the gap? The wealth Gap – It’s staggering. The net worth of a typical white family in 2016 — including home, retirement accounts, and all assets — was nearly 10 times greater than that of a Black family, at $171,000 to $17,600. This gulf even includes African Americans whose households are headed […]
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