Posts by Scott Voigt, CFA, CFP®, CPA
20 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…
Read More2o Second Advisor: How does food affect how we feel?
Everything in your life is linked in some way. While we talk a lot about financial well-being, we also believe that your physical well-being is just as important. Consider a few of these simple points as you think about the food choices you are making on a daily basis: Eat foods rich in omega-3s (flaxseeds,…
Read More20 Second Advisor: Should I use my home state’s 529 plan?
Is your home state’s 529 plan always the best option? It really depends, but here are a few points to consider: Each state differs on whether they offer state tax deductions or credits for 529 contributions, so check to see if your home state offers a tax benefit Compare the performance of your home state’s…
Read More20 Second Advisor: Why you should diversify globally
We all know that US stocks have significantly outperformed international stocks in recent years. Because of this and the fact that many US based multinationals are major players in the world economy, many clients have asked whether international diversification is unnecessary. Not at all. A few reasons to continue investing internationally: International stocks represent about…
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