Posts by Scott Voigt, CFA, CFP®, CPA
20 Second Advisor: Budget considerations amid COVID-19
As we brace for the impact of COVID-19 and await policy interventions, here are a few considerations to keep in mind to stay financially resilient: Budget– revisit your budget and see if you can trim expenses in certain areas. It’s one of the most useful and essential steps during difficult times Service providers– reach out…
Read More20 Second Advisor: Coronavirus and the hysteria cont’d
I read a great article about the coronavirus that helps put it into perspective. Here are some of the main talking points: There are 79,331 cases worldwide, all but 2,069 are in China (as of Monday February 24th 2,595 deaths in China and 23 elsewhere in the world Death rate is around 1 % or…
Read More20 Second Advisor: ETFs vs Mutual Funds
We have a lot of clients asking about the differences between ETFs and mutual funds (active and passive). Determining whether an ETF or mutual fund is better depends on your situation and what you are trying to accomplish. Here are a few key points to remember: ETFs are traded more like stocks, while mutual funds…
Read More20 Second Advisor: Significant Retirement Savings Laws Changes are Coming in 2020
On December 20, the retirement savings bill, know as the SECURE Act, was signed into law by President Trump. Here are 5 key highlights: RMD Age: Required minimum distribution (RMD) age has been increased from 70 1/2 to 72 Contributions to traditional IRAs after age 70 1/2: the law ends the prohibition on contributing to…
Read More20 Second Advisor: 5 Financial Goals for 2020
The New Year is a great time to think about what you want to do or accomplish for the upcoming calendar year. It is also a time to calibrate and “re-center” your financial plan. Here are 5 regular rhythms that I recommend building into your annual financial check up in early January. Net worth– Calculate…
Read More20 Second Advisor: 2020 contribution limits
The IRS has announced contribution and benefit limits for 2020. Here is a summary of the updated limits 401(k), 403(b), most 457 plans, and Thrift Savings Plan: contribution limit is increased from $19,000 to $19,500. Catch-up contributions: for employees aged 50 and over who participate in these plans is increased from $6,000 to $6,500. SIMPLE…
Read More20 Second Advisor: Don’t waste your vacation days
A new study revealed that while Americans are earning more vacation days, they’re not using them. The study showed that around 150 million Americans collectively left an estimated 768 million days unused last year, up 9% from the year before. Most people cited cost as the top reason. Others cited the fact it was “too…
Read More20 Second Advisor: Are you working too much?
Americans working long hours are burning out. A recent study from Sleep Junkie found that working long hours may not necessarily lead to solving all of your problems. 3 big takeaways from the study: Time: Almost 4 in 5 said long hours cut into quality time with their children Health: 4 in 5 who worked…
Read More20 Second Advisor: Do you need umbrella insurance?
I have received a few questions lately about whether umbrella insurance is necessary. Here are a few things to consider: It only makes sense to buy it if you have assets to protect Takes over when your home and auto policies run up against their coverage limits Helps to keep a massive lawsuit from wiping…
Read More20 Second Advisor: Equifax Breach Settlement
In September of 2017, you may remember the Equifax data breach that affected 147 million people. Just a quick update: The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected…
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