How I Invest My Money
Tap into our expertise. Once a month we publish a blog on various financial planning topics. DISCLAIMER: This post is NOT investment advice. It is NOT a recommended portfolio for your situation. Your portfolio should be based on your personal risk tolerance, time frame, and preferences. None of those topics are covered in this post; this post only analyzes one individual’s portfolio (mine). KEY TAKEAWAYS: Your ideal portfolio should be based on your personal risk tolerance and goals. Your risk tolerance and goals should be reviewed...
read moreLooking for Health Insurance due to Early Retirement or a Job Transition? Consider Switching to an Exchange Plan during Open Enrollment
Tap into our expertise. Once a month we publish a blog on various financial planning topics. KEY TAKEAWAYS: Healthcare from the ACA exchange can be an affordable option for Early Retirees or people going through a job transition, especially compared to COBRA or private policies.The American Rescue Plan Act of 2021 extended subsidy levels to reach higher income levels than ever before.The deadlines for applying for coverage is as early as December 15th for the federal exchange so get moving! The deadline in your state may be later if they have...
read moreTwo Things You MUST Do for Your Finances Before Year-End
Tap into our expertise. Once a month we publish a blog on various financial planning topics. Subscribe to our monthly blog: KEY TAKEAWAYS: Taking two important actions can potentially save you thousands of dollars: review your open enrollment options/elections and a prepare a tax forecast.Reviewing your open enrollment options and elections includes reviewing changes to the plan costs, forecasting next year’s medical expenses, and ensuring you take advantage of elective pretax spending accounts.Preparing a tax forecast includes forecasting...
read moreIs now a good time to buy an Electric Vehicle?
Tap into our expertise. Once a month we publish a blog on various financial planning topics. Subscribe to our monthly blog: KEY TAKEAWAYS: The availability of new cars due to supply issues is at a record low while demand is high due to increased discretionary funds, creating record high new car prices.Federal and state (especially in New Jersey) tax credits related to electric vehicle adoption significantly change the total cost equation.Tax credits may become more limited for high earners in the future due to political pressure created by...
read moreWhy It Is Risky to Plan on Being in a Corporate Job Past Age 50
WJL Financial Advisors is a firm of finance professionals who left the corporate world, some by choice, some not by choice, but all due to the changing whims of modern Corporate America. These whims, sometimes called “restructurings” or “changes in strategic focus,” are constant no matter how strong the economy or underlying job market. Now they are also being intensified by accelerating outsourcing and job automation. Sadly, these changes will disproportionately impact employees in the later stages of their careers....
read moreThe Child Tax Credit Payment in July May Equal a Bill in April
The advanced payments of the enhanced child tax credit are being mailed out this week, so next week you may be standing in your kitchen wondering why you received a check and if you should be spending it. For some parents, including most of the parents reading this blog, the answer is probably no, do not rush out to spend it. These prepayments are not like the previously issued stimulus checks. If you qualified for these prepayments because your 2020 income was lower due to COVID or changing job conditions and now your 2021 income has...
read moreInflation Protection: Real Estate is the Physical Weapon Against the Invisible Killer
Inflation is a silent killer. It slowly robs investors of their hard-earned wealth through thousands of small latte and burrito price increases. Assets offering inflation protection can help protect investors by providing returns that increase at rates greater than those price increases. Current inflation measures are heating up. Luckily, investors have inflation protection tools available to them. The most common is stock investing. But there is even a better performing asset in the face of inflation: real estate. In this post we explain how...
read moreThe Amazing Financial Vehicle – The HSA (or the little engine that could)
Health Savings Accounts (HSA) are amazing, possibly the best financial vehicles for building wealth. In this article we explain why you should maximize your contributions to an HSA and pay for most, if not all, of your medical expenses out of pocket. We also compare an HSA to the more widely available Flexible Spending Account (FSA), which, unlike the HSA, if you don’t use the contributions for each year, your money is forfeited. Health Savings Accounts (HSAs) have been around a while. WJL wrote an article over four years ago about them, but...
read moreWho stole my beer? A Crashing Bear or the Inflation Ninja?
In this post we explore two of the major external threats to retirement planning: major stock market crashes and the hidden danger of inflation, looking at the historical impact of both over the past thirty years. We also look at the importance of asset allocation in your portfolio and, most importantly, when my birthday is. Intro Racial injustice, Coronavirus, forced homeschooling, nonstop election banter, topped with having to watch the NFC East playing football. For many of us getting through 2020 required a heavy dose of a favorite...
read moreWhat the American Rescue Plan Means for You, The Taxpayer
News Flash: New Tax Deadline; Estimated Payments Still Due April 15 The IRS has pushed back the tax return and payment filing deadline from April 15 to May 17, 2021. While no additional penalties and interest will accrue during that period, estimated payments for 2021 taxes are still due on April 15 as well as most states are keeping the original deadline. If you think you need make estimated payments for 2021, you will still need to have a pretty good handle on your taxes by April 15. The American Rescue Plan—An Overview On March 11,...
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