The recent closures of three U.S. banks have caused concern among investors and consumers. Silvergate Bank, Silicon Valley Bank, and Signature Bank, New York, are among them. Each of these banks has faced different challenges leading to their closure.

Preferred stocks are a type of investment that is gaining popularity among people who want a steady source of income and the benefits of owning stocks. They are a unique blend of fixed-income and equity features, making them an attractive option for certain investors.

As we approach the 2023 tax year, it's important to stay up-to-date with the changes and adjustments that have been made by the IRS. As a result of the recent inflation surge and decreased value of the U.S. dollar, the IRS has made several important changes for the upcoming tax year.

Stories about interest rate increases have dominated recent news. What does it mean when we hear that the Federal Reserve will raise interest rates by 0.25% to 0.50% points?

Before the end of 2022, consider evaluating your wealth plan to ensure it reflects any changes in your financial situation: income, expenses, tax environment, budget, and short-term and long-term goals. Rising interest rates and potential legislation could lead to changes to the tax law and investment strategy that may require adjustments to your plan before the end of the year.

It's been more than 15 years since the Great Recession and the resulting economic fallout. While some people may have recovered, others still feel the effects of that time. And while some people may wait for the economy to collapse again, there are ways to protect yourself and your assets if it happens. Here's how you can potentially recession-proof your finances to prepare for a recession and other financial emergencies.

Few of us have the time to micromanage our savings and personal finances. It can also be hard to know what overall investing strategies to follow. However, there are several low-fuss ways to alter your purchasing and investing habits to safeguard your money from rising inflation's effects.

A budget allows you to: Align your spending with your financial goals. Achieve your financial goals in realistic time frames. Understand your cash flow and plan for the future. Manage your money rather than allowing your money to manage you!

A spending and savings plan is a step-by-step plan for meeting expenses and setting aside money for savings in a given time period. Think of it as your personal roadmap to help you achieve your SMART goals!

In parts, I and II of this series, Will, Dianne, and Candice were introduced. They have explored a variety of funding options for Candice's college education. They have reviewed federal funding opportunities and tax-advantaged college savings strategies. At the conclusion of this series, we will explore potential scholarship opportunities to help fund Candice's education.

In Part I of this series, we met Will, Dianne, and Candice who have been exploring different options for funding Candice’s college education. If you missed Part I, feel free to catch the breakdown of federal funding sources. After exploring all of the federal funding sources available, Will and Dianne wanted to explore options available for using more of their own income and savings to help fund Candice’s college education.

With the end of the academic year soon approaching, many parents are preparing to send their children off to college for the first time. According to the 2021 edition of Sallie Mae's How America Pays for College study, 6 in 10 (58%) college families developed a plan for funding all four years of college. Studies show that more and more families are beginning to make funding preparations for their children to obtain a college education. As families report an average of $26k for the academic year 2020-2021, a four-year degree is estimated to cost over $100k, which is far from a small price to pay. So, let's take a deeper look at how to create a detailed plan for your children from start to finish.

The Federal Reserve System, commonly known as The Fed, recently raised interest rates in an attempt to regulate the increasing inflation rates the US has experienced. This most recent interest rate increase is suspected to be followed by six additional increases this year. While this has flooded news stories over the last several weeks, how does this impact us in the short-and long-term?

Merriam-Webster defines relationships as a state of affairs between those having relations or a romantic/passionate attachment. In fact, you often read topics on money and relationships to discuss issues that couples tend to deal with as they learn better ways to manage money together. Today, however, we seek to explore the idea of money and relationships from a different perspective. How does our personal relationship with money impact our goal setting and overall financial management? Let’s explore a few common money perspectives and various checkpoints to consider under each perspective.

With the calendar moving to February, it's officially tax season. Whether you are anticipating a refund or dreading the thought of making another payment, the following suggestions may prove helpful as you proceed with preparing and submitting your tax forms.

When many are looking at New Year's resolutions, it's often a great time to consider adopting a quick personal finance checklist of areas to review for the new year. As we begin this new year, here is a Three-Step Process you can adopt to make sure you are intentional about managing your finances.

On November 4, 2021, the Internal Revenue Service (IRS) announced cost-of-living adjustments to retirement-related account limits for the tax year 2022. Details regarding the announcement are available in IRS Notice 2021-61. You may be wondering how these changes impact the everyday taxpayer and what actions you might need to take, if any? Let's explore the details of these changes and what it means for you.

While the transition of the calendar from October to November in some people’s minds strikes thoughts of holiday ham, shopping, and crisp autumn air. It’s also the perfect time to start thinking about open enrollment for various insurance and employer-sponsored benefits. I know it’s not the sexiest topic to think about, but let’s face it…it’s definitely important! For just a few minutes before you get fully engulfed by the upcoming holiday season, below are arguably the top 4 things to consider as we enter the open enrollment period.

There’s lots of media talk about student loans, and many borrowers are left with more questions than answers. “Will my student loan debt be canceled?” “How long do I have before repayments are required?” “Will I ever be able to pay off the student loan debt that I owe?” “Should I make payments if the debt will eventually be forgiven?”

The only way to prepare for the unexpected is to understand that the unexpected is bound to come sooner or later. Let’s face it…Mr. and Mrs. Unexpected Expense does not coordinate with our calendars in advance and asks us whether our schedule is conducive for a visit. They would much rather show up unwelcomed and unannounced while also inviting their adult children, grandchildren, dogs, and cats to spend a month at your home on your dime!