20 second advisor

Financial insights and tips...all in 20 seconds

20 Second Advisor: 2022 Retirement Contribution Limits

Here are the maximum amounts you can save into some common retirement plans in 2022: 401k Pre-tax or ROTH – $20,500 (Increased from $19,500)401k Catch-up if over 50 – $6,500SIMPLE IRA – $14,000 (Increased from $13,500)SIMPLE IRA Catch-up if over 50 – $3,000Traditional IRA or ROTH IRA – $6,000Traditional IRA or ROTH IRA Catch-up if…

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20 Second Advisor: Bonds that pay 7%?!

We’ve been in a low rate environment for a while. It’s tough to earn a real (after inflation) return on your bonds right now. One option that investors may consider is buying I Bonds from the US government – currently they’re paying 7.12%. For I bonds, interest payments are derived from a “fixed” interest rate…

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20 Second Advisor: 5 Things To Do BEFORE 2022

Retirement Contributions – Make 401k, IRA or employer contributions. Charitable Contributions – Give cash or appreciated investments to your favorite charities. 2021 Reflection – Did I save, give, spend intentionally, and pay off what I had planned? If so, celebrate! If not, why? 2022 Plan – How much will I save, give, spend intentionally, and…

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20 Second Advisor: Holiday Volatility In Perspective

In the past several weeks, markets have cooled off just a bit from the nearly non-stop bull market over the last 18 months. Here are a few keys things to remember about investing during these periods (and a short video): It is normal for markets to incorporate “new” information into stock prices. The recent Omicron…

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20 Second Advisor: Flaws in the 4% rule

The golden rule of withdrawal rates is of course the 4% rule. You simply withdraw 4% of the portfolio in year 1 of retirement and adjust that amount with inflation in subsequent years. That should safely fund a 30 year retirement. While the 4% withdrawal rate is a good rule of thumb, here are 3…

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20 Second Advisor: How do you celebrate your birthday?

Billy, a good friend of mine, turned 50 yesterday. He celebrated by running / walking for the entire day (24 hrs)! I know it sounds crazy, right?! We surprised him all throughout the day with food, practical jokes, and comradery. Most importantly, we made sure he had someone running with him for the entire 24…

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20 Second Advisor: How a $12 hamburger costs you $20.34

It’s not totally uncommon to talk to prospects or clients that make several hundred thousand dollars a year, and they don’t know where all their money goes. Ex: We make $300,000 per year, but don’t really have much savings to show for it. Here’s why I think this happens: The more someone makes, the more…

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20 Second Advisor: Where inflation is and isn’t

You have probably been reading about inflation concerns lately. I recently read a great article outlining where inflation is and isn’t according to the Bureau of Labor Statistics. Here is the article In summary, here are the top 4 categories that have seen the highest and lowest price increases Highest Rental cars Gas Used cars…

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20 Second Advisor: Do it for the people you love!

I recently traveled internationally with a group of business men. Traveling without my family forces me to consider their situation if I was “promoted” (died) unexpectedly. It’s uncomfortable and sad to think about this, but I’d rather be prepared than avoid discomfort. Here are the questions I asked myself before my trip: Will my family…

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