Personal investing
Need to tap your 529 college savings plan soon? Here’s how to handle a stock market downturn
Klaus Vedfelt | DigitalVision | Getty Images Months of stock market volatility may deliver a costly surprise to parents sending children to school this fall: smaller-than-expected 529 college savings plan balances. The average 529 account size was $30,287 in 2021, according to the College Savings Plans Network, but families may now have lower balances, financial […]
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This advisor started a financial non-profit to empower women. Here’s her top investing and entrepreneurship advice
Stacy Francis Source: Stacy Francis Stacy Francis never planned to become a financial advisor, especially one for women going through divorce. But a candid talk with her grandmother shifted her career trajectory. Her grandmother, Myra, was a victim of spousal abuse and, before passing, she confessed to staying in her marriage because she felt “financially […]
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Capital gains may have triggered hundreds of billions more in individual taxes for 2021, analysis shows. How to trim your tax bill
The U.S. Department of the Treasury building Julia Schmalz | Bloomberg | Getty Images Some investors may be grappling with the sting of higher-than-expected capital gains for 2021 and losses in 2022. But experts say tax-planning opportunities may soften the blow. Individuals paid significantly more taxes this season, and the surge in capital gains in […]
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Tax breaks aren’t prime reason for high-net-worth philanthropy, study finds
Maria Teijeiro | OJO Images | Getty Images Tax breaks aren’t the primary incentive for philanthropy among the ultra-wealthy, according to BNY Mellon Wealth Management’s inaugural Charitable Giving Study. The report, polling 200 individuals with wealth ranging from $5 million to more than $25 million, found the top three motivators were personal satisfaction, connection to […]
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Why it’s a good time for young investors to put money in the market
FG Trade | E+ | Getty Images Opportunities in the dip For young investors with the longest time horizons to plan for retirement, today’s market downturn also provides an opportunity, according to Paula Pant, host of the podcast “Afford Anything.” “A dip is your best friend,” she said. “So, buy the dip, take advantage of […]
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Inflation is the ‘top problem’ facing America, with no other issue coming close, survey shows
A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Meanwhile, President Joe Biden also has faced blowback over continued inflation and plans to address the issue. A Twitter exchange between Biden and Amazon founder Jeff Bezos began on Friday when the […]
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How to buy stocks on the brink of a bear market
It seemed like everyone was in a buying mood on Friday, except Elon Musk. The Dow Jones Industrial Average broke a six-day losing streak, the Nasdaq Composite turned in its second positive session in a row, and the S&P 500 was up over 2%, a small step back from the brink of a bear market, […]
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Worried about a recession? Here’s how to prepare your portfolio
FG Trade | iStock | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. “We all understand that markets go through cycles and recession is part of the cycle that we may be facing,” said certified financial planner Elliot Herman, partner at PRW Wealth Management in Quincy, […]
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Here’s how much cash retirees need to weather a stock market downturn
Luminola | E+ | Getty Images Amid high inflation and rising interest rates, there are fears of a prolonged stock market downturn, and some retirees may be vulnerable without a cushion of cash, financial experts say. However, there’s also the risk of crumbling purchasing power, with annual inflation growing by 8.5% in March, the U.S. […]
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Here’s where I bonds may work in your portfolio, according to financial advisors
I bonds are currently paying 9.62% annual interest through this October, presenting an opportunity for investors with a range of goals, according to financial experts. These assets, backed by the federal government, are nearly risk-free and inflation-protected, with rates changing every six months based on the consumer price index from the U.S. Bureau of Labor […]
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