Biblically Responsible Investing (BRI) is an investment practice that filters out companies engaged in activities that conflict with biblical values. There are several different organizations that define various activities which do not represent Christian values.
2023 has been an intense year for union workers nationwide in many industries, from UPS workers to actors and writers. With high inflation rates have come high demands during contract negotiations. The buzz surrounding current talks between the UAW and the Big Three (GM, Ford, and Stellantis) has been no different. As negotiations prolong and a contract expiration date of September 14 is looming, many UAW workers are having increased concern over the prospect of a lengthy strike.
Let's face it; no one enjoys paying taxes. Often I’m asked about managing money in a way that avoids taxes altogether. I’m here to tell you that there is no secret sauce. I think that people have the wrong idea about their taxes. It is not a matter of avoiding them altogether but rather paying them at the lowest rate possible. I’d like to put a few tax-planning strategies on your radar for when tax planning season comes around. This is by no means a comprehensive list, but rather a few key concepts that I think are often overlooked:
No, I’m not talking about that “B” word! I’m talking about that curse word known as a BUDGET. I commonly refer to your budget as “Lifestyle”. Now, I’m not talking about a budget in the sense that everyone has to have an itemized spreadsheet or spend countless hours a week micromanaging transactions. In generalities, a budget is having an idea of how much income is coming in and how much in expenses are going out. Typically, most households run their budget on a month to month basis for simplicity. This gives us an idea of how much money is left over each month. To be frank, when you retire not only will you have to know your budget, but you will also have to live within it. Otherwise, you run the risk of running out of money. At some point, you will need to carefully manage income and expenses, so why not start practicing today?
Following a prosperous first quarter, the market continued to perform well in the second quarter. Most sectors of the market performed well with a few, albeit notable, exceptions. Let's take a deeper look into interest rates, global diversification, and what is to come.
Every profession has unique facts, concepts, theories, methods, and advancements. However, what is common between excelling in professions is the requirement of a broad and deep understanding of all the elements involved in determining results. The CFA Institute is the industry leader in providing a broad and deep financial education for investment professionals.
I was recently at a conference for independent financial advisors hosted by Charles Schwab. After a three-year hiatus, this annual conference was finally back in person. My favorite aspect of these meetings is not the presentations, entertainment, or even the location, but rather the opportunity to engage with other financial advisors from around the country.
The SECURE ACT was enacted on January 1, 2020. While it has been a few years since the act was passed, the effect of the largest retirement reform since 2006 is still being felt today. One of the major changes was the implementation of new required minimum distribution (commonly known as RMD) rules for Inherited IRAs. I like to call this the death of the Stretch IRA. First, let’s establish that an inherited IRA is when a loved one or family member dies with money left in their IRA, 401K, or even 403B, and you are named as a beneficiary. The funds are passed on to you through a vehicle called an Inherited IRA.