Retirement Accounts

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Retirement accounts are important assets. Currently, Roth IRAs (Individual Retirement Account) have the following rules:
-Only those singles with income below $137,000 or couples below $203,000 can contribute
-Annual contributions are limited to $6,000 or $7,000 if you are 50 or older.
-The account grows income tax free and is distributed after 59½ free of income tax.
-There is no Required Minimum Distribution (RMD) even after you are 70½.
-You can’t withdraw within 5 years of your contribution without a penalty

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Long Term Care Insurance

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Why do we buy insurance? There’s Homeowners insurance, health insurance, car insurance, and more. Buying insurance is a way to shift the risk of loss. We want to avoid the financial burden that insurance companies will pay for when calamity strikes. One type of insurance that most people don’t think about is Long Term Care […]

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Behavioral Economics

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Behavioral Economics is the study of the psychology behind the economic decisions a person makes. Economists want to know why we make the financial decisions we make. Why do we go to the grocery store and spend $150 on food for the week then go out to eat that night? Why do we travel further […]

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