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Once you've filed last year's tax return and can see where your finances are headed this year, it may be a good time to adjust your income tax withholding to help make sure you're having the right amount withheld from your paycheck.
Social Security is complex, and the details are often misunderstood even by those who are already receiving benefits. It's important to understand some of the basic rules and options and how they might affect your financial future.
Traditional economic models are based on the premise that people make rational decisions to maximize economic and financial benefits.
In 2023, the average total annual premium for employer-sponsored health insurance coverage was $8,435 for single coverage and $23,968 for family coverage, with average worker contributions of $1,401 and $6,575, respectively.
The new SAVE student loan repayment plan helps borrowers in a number of ways, with new benefits coming in July 2024.
When you hear or read that the market is up or down, what does that really mean?
Federal income tax filing season is here again. The filing deadline for individuals is Monday, April 15, 2024.
Facts about when people start collecting social security.
This past year, the housing market has experienced a perfect storm, with high interest rates and inflation resulting in reduced purchasing power for homebuyers.
Individual bonds and bond funds can both provide an income stream, but there are important differences.
Life insurance has long been recognized as a useful way to provide for your heirs and loved ones when you die.
In a 2023 survey, nearly nine out of 10 workers said it was extremely or very important to have a job that offers paid time off (PTO) for vacations, doctor appointments, and minor illnesses. Yet almost half said they take less time off than their employers allow. Here are the top reasons they gave for not using all their PTO.
The Federal Reserve's rapid series of interest rate hikes throughout 2022 and 2023 — initiated in an effort to bring down red-hot inflation — rippled throughout financial markets and the broader economy.
Couples who have opposite philosophies regarding saving and spending often have trouble finding common ground, and money arguments frequently erupt.
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts.
The U.S. personal saving rate — the percentage of personal income that remains after taxes and spending — was 3.8% in October 2023. The saving rate spiked to an all-time high during the pandemic, when consumers received government stimulus money with little opportunity to spend, but fell quickly as stimulus payments ended and high inflation ate into disposable income. The current level is well below pre-pandemic saving rates. A low personal saving rate means there is less money available on a monthly basis for saving and investment. However, many households still have pandemic-era savings, and the low rate indicates consumers are willing to spend, which is good for the economy. The question is how long this spending can be sustained.
Thornapple Financial Center, Inc. is an independent firm not affiliated with Money Concepts Capital Corp.
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