Last month I discussed how valuable Health Savings Accounts are, how they can significantly increase your wealth over time, and why I generally prefer them over 401k accounts. But how do HSAs fare when compared to Employee Stock Purchase Plans (ESPPs)? If you only have enough money to contribute to one, which one should it […]
Are ESPPs better than HSAs? Read More »
According to William Stuart, an HSA expert, author, and consultant, only 4% to 5% of people maximize contributions to an HSA (Health Savings Account). This is a mistake! The IRS does not allow you to typically double dip on tax deductions. For example, in your 401k, you can get a tax deduction when you contribute,
HSAs are One of the Most Powerful Investment Vehicles in the U.S. Read More »
In Spiderman, Peter Parker is told by his Uncle Ben that “with great power comes great responsibility”. To parallel with finance, I’d like to modify this to say “with great wealth comes great responsibility”. According to Gallap, the median worldwide household income is approximately $10,000 per year. In the poorest countries of the world, the
The Gift of Giving Read More »
It recently occurred to me that there may be some people out there who are wondering what to do with their current bond portfolio considering that yields are much higher now. In 2021, the vast majority of newly purchased corporate bonds were only yielding around 1% to 2% per year. Government bonds were also about
Replace Your Low Interest Bonds with High Interest Ones? Read More »
Occasionally I’ll get asked whether investing in dividend paying stocks is a good idea. My general response is that the evidence doesn’t support this as a strategy. In other words, there is no empirical evidence that shows dividend investing provides superior returns than the market. One of the primary reasons that investors fall in love
Is Dividend Investing a Good Idea? Read More »
With the holidays rapidly approaching, many of you are concerned about how much money you will spend on gifts. In today’s blog post, I’ll be sharing a tip on how you can avoid overspending this holiday season. Have a Game Plan The main reason you spend too much money during the holidays, is
How to Avoid Overspending During Holidays Read More »
by Mary Young, Ph.D. Perhaps you already know the punchline, but I grew up believing that the way I’ve stated the question above was the accurate depiction of the biblical statement. About 15 years ago, I was fortunate enough to be seeing a Minister, who taught me a number of lessons, as many of my
Money Is The Root Of All Evil? Read More »
While estate planning is important to all people there are a number of issues that specifically impact women. These issues, if not properly addressed, can lead to insufficient assets, inappropriate long term care, disinherited children, and a host of other outcomes. In today’s blog post, you will learn what these issues are as well as
Estate Planning Issues Unique to Women Read More »
Last week I discussed the responsibilities that you have when working with a financial planner. This week I want to shift my focus to the expectations you should have when working with a financial planner. In other words, what should a financial planner be doing for you? In today’s blog post, I will be sharing
What To Expect When You Hire A Financial Planner Read More »
There are many articles written about what a financial planner does for you and what you should expect from them. But, in my opinion, the best relationships will also focus on what a financial planner expects from YOU. After all, it should be a relationship, not a one-sided street. So, in today’s blog post I
Your Responsibilities When Working With A Financial Planner Read More »
When we first begin working with clients, it’s very common to discover that they don’t have a Will or any estate planning documents at all. It’s not that they don’t think it’s important, but often times they just don’t know where to start or what to do. If you happen to be one of those
A Simple Guide to Wills and Estate Planning Read More »
There’s a finance strategy that says it’s wise for you to have at least one years’ worth of cash on hand. That way if your investments decline significantly, like they did with the COVID-19 crisis, then you can take money from your cash account and let your investments recover. While this sounds good in theory,
Is Having One Year of Cash on Hand a Good Idea? Read More »
B.E.S.T. Wealth Management, LLC was founded on the principle that everybody deserves financial planning advice and help with investing money.
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