October 2024 Questions
There were many great questions asked in a recent Q&A session with T-Mobile employees! Does it make sense to contribute to a 529 now that my kid’s in high school? I moved for work. Should I sell my old home? Would a Roth conversion after retirement lower my taxes? Instead of keeping your 401(k) until you are 59 1/2, should you take some early? When you take 401(k) distributions before you reach retirement age, is there still a penalty? How do we make the most out of our rental property? What are best practices for us renting ir or using a property management company? Do you have best practices for how to treat the extra cash, $1,500 a month? We have been married for 10 years and have not joined our finances. Is that recommended? Would I be taxed like crazy if I sell my stock?
XYPN Live 2024
XYPN Live 2024 was good! The event marked the 10th anniversary of the XY Planning Network. It brought together many fee-only advisors and vendors from across the industry. In this article, I share some of my insights on the conference.
I Changed Jobs. Should I Roll Over My 401(k)?
I changed jobs. Should I roll over my 401(k)? It depends. There are potential benefits and cost of either rolling an old 401(k) into an IRA, rolling thee 401(k) into another 401(k), or keeping the 401(k).
Potential Financial Steps for T-Mobile Employees in October
Smart October financial steps for tech professionals: evaluate ESPP stock, book holiday plans, complete open enrollment, update beneficiaries, and plan health spending.
Risk Capacity Matters More Than Risk Tolerance
Risk capacity matters more than risk tolerance. Someone’s ability to take risk depends on their financial circumstance. That’s their risk capacity. Risk tolerance depends on many factors and is more fluid.
Save More Tax on Donations
Millions of people give to charity, which is wonderful! However, they often give cash each week, month, or year. That method can cost more! It’s often better to: donate appreciated assets, bunch donations, or contribute to a Donor Advised Fund.
Transactions in Retirement Accounts Aren’t Taxed… Yet
When something keeps coming up in conversations, I prioritize it for content! Some very intelligent, educated, and succesful people haven't been sure how investment changes within retirement accounts are taxed. Fortunately, investment changes don't usually have an immediate tax impact! Adjusting these accounts may be the best way to rebalance a portfolio.
Potential Financial Steps for T-Mobile Employees in September
Smart September financial steps tech professionals can include: set your ESPP contribution, book holiday travel, review benefits, rebuild your emergency fund, and schedule PTO.
We Rode in a Self-Driving Vehicle
Our family rode in a self-driving car. While on vacation in San Francisco, we kept seeing these driverless vehicles. Although I've caught hundreds of rides with ride sharing services, this one felt different!
Is Insurance an Investment?
Why insurance isn’t usually an investment - coverage often doesn't grow wealth, it’s treated as expense, and mostly protects against loss.
What Financial Steps Might T-Mobile Employees Take in August?
What financial steps T-Mobile employees might take in August?
Shop for Back to School
Take summer vacation
Review investments
Submit dependent care reimbursements
Check financial independence plan
Turn $200,000 into $13 Million?
Most people want to get rich NOW. That's now (usually) how wealth is built. Want to know the secret? Time.
What Are Large, Mid, and Small-Cap?
What are large, mid, and small cap? There’s a clear definition… in theory. Reality is messier.
How to Use Credit Reports to Improve Credit Scores
How to use credit reports wisely - to dispute errors, lower utilization, boost score factors, and unlock better credit opportunities.
Potential Financial Steps for T-Mobile Employees in July
What financial steps might T-Mobile employees take in July? Options could include: check credit reports, review / rebalance investment portfolio, take summer vacation, attend camps, and submit dependent care reimbursements
Contribute to Pre-Tax or After-Tax?
Many people struggle to decide whether to contribute to a pre-tax account, after-tax account, or both. Both options may exist for plans like a 401(k), 403(b), 457(b), and Individual Retirement Arrangement (IRA). The after-tax version is often a Roth plan.
Imagine Summer Without These!
Celebrate Juneteenth by spotlighting summer inventions - like ice cream scoops, Super Soakers, and refrigeration - that make life sweeter and safer.
How Might the T-Mobile / UScellular Merger Un-Fold?
How might the T-Mobile / U.S. Cellular merger un-fold? T-Mobile has a playbook it’s used for its MetroPCS, Sprint, and Mint mergers. Although every merger is a little different, the UScellular merger will likely have many similarities.
Potential Financial Steps for T-Mobile Employees in June
Smart June financial steps for tech professionals could include: enjoy end-of-school celebrations, replenish your emergency fund, plan summer trips, and submit dependent-care reimbursements.
How Americans Spend
Knowing how Americans spend - from housing and transport to entertainment - can help you focus your spending where it matters most.
