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Financialplanning

All articles tagged with #financialplanning

finance1 year ago

IRS Boosts 2025 401(k) Contribution Limits for Enhanced Retirement Savings

The 401(k) contribution limits for 2025 have increased, allowing employees to contribute up to $23,500, with a combined employee and employer limit of $70,000. Catch-up contributions for those aged 60-63 will also rise to $11,250. Despite these increases, many employees are not maximizing their 401(k) contributions, which is crucial for a secure retirement given the decline of pensions and potential Social Security shortfalls. The article emphasizes the importance of building both tax-advantaged and taxable investment portfolios to ensure financial freedom and a comfortable retirement.

via Financial Samurai|
#401k#finance#financialplanning
finance2 years ago

"Maximize Your 2024 Passive Income with These High-Yield Dividend Stock Picks"

The article lists 24 top dividend stocks to buy and hold in 2024 across various sectors, including consumer goods, energy, financial services, healthcare, industrials, real estate, and technology & telecommunications. Notable mentions include Dividend Kings like Hormel, Lowe's, and Target, energy companies with high yields such as Energy Transfer and Enbridge, and tech and telecom picks like Broadcom and Verizon. The emphasis is on long-term holding for income and growth, rather than short-term gains. The stocks are chosen for their solid dividend yields, potential for growth, and in some cases, their resilience to market fluctuations.

via The Motley Fool|
##dividendstocks#finance
lifestyle2 years ago

"January 4, 2024: Comprehensive Daily Horoscope for Career, Love, and More"

Today's career horoscope emphasizes the importance of interpersonal connections, adaptability, and strategic planning across all zodiac signs. Aries should leverage a congenial work environment for networking, while Taurus is advised to stay flexible amidst challenges. Gemini needs to ask questions and seek advice, Cancer should document work processes, and Leo is encouraged to foster team communication. Virgo can benefit from innovation, Libra must balance work and personal life, and Scorpio should reassess office dynamics. Sagittarius is prompted to showcase talents, Capricorn to clear ambiguities, Aquarius to implement innovative ideas, and Pisces to maintain focus and dedication for professional success.

via Hindustan Times|
##astrology#careerhoroscope
finance2 years ago

"Deciding Between Short-Term and Long-Term CDs: Strategies for Maximizing Your Investment"

When deciding whether to invest $10,000 in a short- or long-term CD, consider your financial goals and when you'll need access to the funds. Short-term CDs offer flexibility and are currently benefiting from high interest rates due to the Federal Reserve's rate hikes, while long-term CDs typically offer higher interest rates for locking in funds for an extended period. Another strategy is CD laddering, which involves spreading investments across multiple CDs with different maturity dates to balance interest earnings with liquidity. Your choice should align with your need for liquidity and your interest-earning goals.

via CBS News|
##cds#finance
personal-finance2 years ago

"2024 Financial Resolutions: Expert Tips for Saving, Budgeting, and Reducing Debt"

Financial experts recommend starting the new year by reassessing your budget and spending habits. The 50-30-20 rule is suggested for budget allocation, with an emphasis on cutting fixed and variable expenses, such as housing and food. Strategies like the avalanche and snowball methods are advised for paying down debt. It's also important to save for emergencies and planned expenses, potentially by increasing income through side hustles. High-yield savings accounts are recommended for better savings growth, and annual investment check-ins are crucial to ensure your investments are on track, comparing them to benchmarks like the S&P 500.

via NPR|
##budgeting#debtreduction
finance-and-investment2 years ago

"Top Investment Strategies for 2024: Expert Advice for Your $50,000"

Financial experts provide guidance on how to invest $50,000 in the upcoming year, suggesting a diversified portfolio that may include stocks, bonds, ETFs, and alternative investments. They emphasize the importance of considering individual risk tolerance, financial goals, and market conditions when making investment decisions. Strategies may involve a mix of passive and active investment approaches, focusing on sectors poised for growth or stability.

via CNBC|
##assetallocation#finance-and-investment
personal-finance2 years ago

"Kickstart Financial Wellness in 2024: Monthly Steps to Save, Invest, and Reduce Debt"

CNBC Select provides a month-by-month guide to improve your financial habits in 2024, starting with creating a budget in January and ending with planning holiday expenses in December. The guide includes picking a debt repayment strategy, hiring a tax professional, opening a high-yield savings account, starting a sinking fund, getting a travel credit card, optimizing spending, reviewing insurance policies, checking credit, investing, reviewing employee benefits, and planning for the holidays. Each month focuses on a specific aspect of personal finance, with the aim of building healthy financial habits gradually over the year.

via CNBC|
##budgeting#debtmanagement
personal-finance2 years ago

"Maximizing Roth IRAs and Adapting to 2024's Retirement Policy Shifts"

A couple is planning to max out their Roth IRAs in 2024 by setting up automated monthly contributions to ensure they invest consistently throughout the year. They emphasize the importance of low-fee investments and the flexibility of Roth IRAs, which allow for tax-free withdrawals in retirement and can be used for certain expenses like education or a first-time home purchase. They also highlight the income restrictions for Roth IRA contributions and suggest using online calculators to understand the impact of fees on investment returns. The article includes a promotion for Robinhood's IRA with an uncapped match and mentions popular investment platforms like Fidelity and Vanguard.

via Business Insider|
##automaticcontributions#financialplanning