Today I'm going to tell you what per stirpes is, in Plain English. Why? Because most retirement investors skip this step when setting up their retirement accounts. And skipping this step can result in thousands (or millions) of your hard-earned dollars going to the wrong person. The good news is that you don't even need an attorney to take action. So, if you want to learn how you can avoid making a big estate planning mistake, you …
Financial Myth #4: A Traditional 401k is Better Than a Roth 401k
When you contribute to retirement accounts, you typically have two options: Contribute pre-tax dollars today, pay taxes in retirement when you withdraw (Traditional 401k/IRA) Contribute after-tax dollars today, withdraw tax-free in retirement (Roth 401k/IRA) Ask 100 people and 99 of them will likely choose option one every time. A tax deduction certainly sounds better than no tax deduction. I get it. I love tax deductions. But …
Financial Myth #3: Election Years Influence Stock Market Returns
We all know 2020 is an election year. And, it's not uncommon for investors to assume that because it's an election year, the stock must be in for a wild ride. Even more, some suggest that if the party they favor wins the election, it will be good for the markets. But, if the other party wins, it will tank them. I'm not going to pretend to have a crystal ball. But looking back at 90+ years of data can be incredibly helpful in making …
