July 24, 2016

Budgeting

An important part of managing money is budgeting. We've collected blog posts with tips and advice on budgeting and saving money.

Comparing Donor-Advised Funds

givingflower

Which company should you choose when you’re opening a donor-advised fund?

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Do Children Need To File A Tax Return To Fund Their Roth IRA?

Do Children Need To File A Tax Return To Fund Their Roth IRA?

The IRS does not require dependents whose gross income is only earned income to file a tax return if the amount is less than a certain amount.

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How Much Can I Withdraw in Retirement?

Seaside Golf

We have calculated safe withdrawal rates for ages 0 to 100 based on age-appropriate asset allocation mixes.

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5 Reasons to Have Some Cash Equivalents

5 Reasons to Have Some Cash Equivalents

There are at least five reasons to hold cash. Without a good reason to hold cash, you may be holding too much.

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Family Financial Lifecycle

squirrel eating

Before the children arrive, squirrel away some money. When the children go out on their own you get one last chance to save for retirement.

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Qualified HSA Funding Distribution

Qualified HSA Funding Distribution

There is an obscure tax rule that allows a one-time Traditional IRA-to-HSA conversion called a Qualified HSA Funding Distribution (QHFD).

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Testamentary Donor Advised Funds

colorful gift bows

An easy estate workaround is to set up a Donor Advised Fund as a Testamentary fund, meaning you aren’t funding it yet, but it will be funded upon your death.

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Investing in a Donor Advised Fund

Gift on table

There are several strategies for using a donor advised fund which will help determine your asset allocation.

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Slow and Steady Wins the Race

Slow and Steady Wins the Race

You can learn a lot about financial management from snapping turtles.

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Investing 101: Things to Think About Before You Invest

lightbulb sunrise

With a little preparation, you can save and invest over your lifetime to meet your financial goals and dreams.

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Radio: Budgeting Benefits

moody hills

Having a budget as a boundary for your spending gives you the freedom to work within that boundary, and keeps you on track to save for your goals.

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What To Do With That First Paycheck

plant in the rain

You probably know that you should spend less than you earn, but that is only part of the equation.

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How to Pay Off Student Loans While Building Wealth

How to Pay Off Student Loans While Building Wealth

While your student loans may be a daunting sum, it is still possible to build wealth even while paying off student debt.

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Ten Principles for Teaching Children about Money

Ten Principles for Teaching Children about Money

Here are ten principles for teaching children about money.

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Family Budgeting

Family Budgeting

If a budget isn’t a team effort, one member of the family will hold the purse strings and everyone else will be resentful.

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Guidelines for Using Margin

Guidelines for Using Margin

Too much leverage is risky because it endangers meeting your goals.

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Inflation Illustrated

stamp pile

We tracked the price of a first class stamp over the last 130 years, noting the changes, to show the steady erosion in buying power during that time.

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Gifts, Taxes, and IRS Form 709

Gifts, Taxes, and IRS Form 709

Most people are unaware that giving a gift can be a taxable event because they themselves have not yet experienced the tax.

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Financial Planning Beyond Your Wedding Day

hearthands

In addition to registering for a blender and picking floral arrangements, make sure that your marriage has the financial accounts and monetary habits necessary to meet your shared financial goals.

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How To Instill Good Financial Habits In Your Children

How To Instill Good Financial Habits In Your Children

Give your children experience spending their own money.

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Streamline Your Finances with Schwab Checking

Streamline Your Finances with Schwab Checking

This Schwab checking account provides six impressive services not true for most local banks.

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Reasons to Keep a Local Bank Account

Reasons to Keep a Local Bank Account

Investment brokers like Schwab offer many services local banks offer but there are a few reasons why you might want to resist consolidating all of your accounts to a broker.

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Millionaire Lifestyle: Drink Sodas at Home, Not Out

Millionaire Lifestyle: Drink Sodas at Home, Not Out

Changing where you drink soda is a small step, but enough small steps can make a huge difference in your savings.

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Nine Unfortunate Facts of Health Savings Accounts

9 Unfortunate Facts of Health Savings Accounts

An HSA is one of many accounts used in comprehensive wealth management for tax optimization and planning.

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Qualified Charitable Distributions (QCDs) from IRAs

Qualified Charitable Distributions

QCDs allow individuals age 70 1/2 or older to give directly to a charity from your IRA without counting the distribution as taxable income.

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Why You Should Give Appreciated Stock Instead of Cash

Gift and Lights

Giving appreciated stock not only allows you to support your favorite charity but also avoid paying capital gains tax on your gifted stock.

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A Complete Guide To Donor Advised Funds

Wrapped Gifts

A donor advised fund makes the process of charitable giving simple and easy.

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IRS Wants Charities To Collect And Report Sensitive Donor Identity Information

IRS Wants Charities To Collect And Report Sensitive Donor Identity Information

Late last year, the IRS proposed asking charities to collect sensitive donor identity information for any charitable gift of more than $250.

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Radio: Financial Planning for Buying a Home

Hobbit Hole

David John Marotta was interviewed on WINA’s “Real Estate Matters” show with Michael Guthrie, talking about how it is still a good time to buy a house.

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Overfunded College 529 plan? No Problem!

Overfunded College 529 plan? No Problem!

No need to worry. You have many great options when managing an overfunded 529 college savings plan.

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Should I Buy Commercial Real Estate?

Should I Buy Commerical Real Estate?

Here is a simple way to think about commercial property.

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Radio Interview: Financial Gift Giving

Red and Gold Christmas Gift

David John Marotta was interviewed recently on radio 1070 WINA’s Schilling Show discussing financial Christmas gifts.

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Does Your College Saving Need a Christmas Gift?

Does Your College Saving Need a Christmas Gift?

Some years, we fall behind and I try to make a year-end contribution to get us caught back up again.

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Gifting Appreciated Stock To Family Members

Gifting Appreciated Stock To Family Members

For children with lower incomes, there is an opportunity to give them appreciated stock to shift the capital gains to a lower tax bracket.

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Mailbag: How Much Cash Should I Keep For An Emergency?

Mailbag: How Much Cash Should I Keep For An Emergency?

Being prepared is always a good idea, but so is knowing the costs associated with being prepared.

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What is the Kiddie Tax?

What is the Kiddie Tax?

The kiddie tax was first added to the tax code in 1986 for children under age 14. Now, it can burden them until they are 23.

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Trust Protections from Creditors and Spendthrift Beneficiaries

Royal Guards

The beauty of trusts is that they are very flexible, and an estate lawyer can help you craft a document that will follow your wishes and give you peace of mind.

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Financial Christmas Gift Ideas

Colorful Gift Wrapping

Financial Christmas gifts don’t need to be a piggy bank. They can be more serious and more meaningful than that.

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Safe Withdrawal Rate Adjustments

Safe Withdrawal Rate Adjustments

Assumptions about these adjustments to your net worth should be made carefully and conservatively.

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What Capital Gains Is Owed For The Sale Of Gifted Stock?

What Capital Gains Is Owed For The Sale Of Gifted Stock?

It is better to leave stock to a family member in your estate plan than to gift them the stock while you are alive.

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How to Factor Social Security into Your Safe Withdrawal Rate

How to Factor Social Security into Your Safe Withdrawal Rate

Carefully computing and adding your Social Security early retirement safe withdrawal rate can safely boost your early retirement standard of living without jeopardizing your future finances.

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Why You Should Use a Donor Advised Fund

Why You Should Use a Donor Advised Fund

We highly recommend a Donor Advised Fund for generous investors.

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Can I Contribute To My Wife’s Roth IRA?

Can I Contribute To My Wife's Roth IRA?

I have earned income but my wife does not. Can I contribute to my wife’s Roth IRA?

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Mailbag: Can I Use My IRA As Collateral?

Mailbag: Can I Use My IRA As Collateral?

There is a complex way, but we don’t recommend the strategy.

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When Should You Stop Funding Your HSA?

When Should You Stop Funding Your HSA?

You’ve opened your HSA and funded it for several years. When should you stop funding it?

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How to Avoid a Down Payment on a Mortgage

How to Avoid a Down Payment on a Mortgage

If you prefer to keep your down payment money invested in the markets for longer, there are two alternatives.

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Never Lend to Family Without a Contract

3 Generations

While helping a family member out is noble, money often complicates the relationship.

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Infographic: Is Grad School a Good Investment?

Infographic: Is Grad School a Good Investment?

An alternate look at the formula using the case study of Kate the Social worker who wants an MBA from Georgetown University.

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Financial Advisors’ New Patron Saint Just Cut From the Detroit Lions

Financial Advisors’ New Patron Saint Plays For the Detroit Lions

When Ryan Broyles scored a $3.6 million dollar contract after being drafted in the first round he did something quite rare – he sought as much advice as he could find.

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Steps for Getting Out of Debt

Oasis in the Desert

I have outlined some steps to help you figure out how to pay down your debt and get back on track.

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