Posts by NORTHSIGHT WEALTH
5 Reasons to Consider Life Insurance
September is “Life Insurance Awareness Month.” Is your family using life insurance in the right ways as part of your comprehensive financial plan? Here are five reasons you should consider life insurance. 1. You Have a Young Family1 Even though the pandemic has shown us all the need for financial protection for the family from…
Read More7 Budgeting Tips For July
Budgeting can help you achieve your goals faster. Once you realize that budgeting can help you achieve the goals you’ve set out for yourself, you may find the process inspiring. 1. Think of your budget as a spending plan Think of your budget as your “how-to” plan for spending your money rather than what you…
Read MoreIt’s Annuity Awareness Month. How much do you know about annuities?
Because June is Annuity Awareness Month, here is an overview about them. Annuity product designs and types continue to evolve, primarily to meet the demands of people nearing retirement. In addition to their original purpose of providing retirement income, insurance companies have developed hybrid policies, adding features to address the multiple risks consumers face as…
Read More5 Ways to Give Your Finances a $pring Cleaning
Spring is here! Time to get your finances in shipshape condition. Here are five ideas to get you started. 1. Check your credit reports. While you’re reviewing your expenses and debts in order to see how you are faring in terms of staying within your personal budget, make sure that there aren’t any expenses or…
Read MoreRMDs Are Back for 2021
RMDs, or Required Minimum Distributions, are withdrawals that are required by the IRS each year out of your traditional retirement accounts like 401(k)s and IRAs starting at age 72. The money that you have to take out annually by December 31st at midnight is taxed based on your income tax rate for that tax year. Some…
Read MoreInterest rates, bond prices and inflation are related. Here’s how.
The Federal Reserve “Part of the mission given to the Federal Reserve by Congress is to keep [consumer] prices stable–that is, to keep prices from rising or falling too quickly. The Federal Reserve sees a rate of inflation of 2 percent per year–as measured by a particular price index, called the price index for personal…
Read More7 Tips to Resolve Financial Issues Between Couples
No matter how long you have been together, financial issues can wreak havoc on a committed relationship. According to Investopedia, some of the top money issues between partners include money/personality style clashes, debt, personal spending, children, and extended family differences. When couples don’t agree about spending and saving habits, it can lead to stress, arguments and…
Read More5 Highlights of the New Stimulus Package
What the latest round of funding may mean for you. The $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump on December 28th as the COVID-19 pandemic continues to impact employers and employees. The new package resembles March’s $2.2 trillion CARES Act, but will only be $920 billion,…
Read MoreYour Annual Financial To-Do List
Things you can do for your future as the year unfolds. What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to managing your taxes.…
Read More2021 Limits for IRAs, 401(k)s and More
Numbers to know for the new year. On October 26, the Treasury Department released the 2021 adjusted figures for retirement account savings. Although these adjustments won’t bring any major changes, there are some minor elements to note. 401(k)s. The salary deferral amount for 401(k)s remains the same at $19,500, while the catch-up amount of $6,500…
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