More Than Numbers Investing isn’t just about numbers—it’s about emotions. The stock market moves based on fundamentals, but investor sentiment often tells a different story. Fear and greed drive decision-making, …
Wealthable
Able Wealth Management's blog on personal finance, financial planning, investing, taxes, and the behaviors and decisions that influence our actions.
Empower your wealth.
Enrich your life
The Federal Reserve’s Bold Move The Federal Reserve’s recent decision to slash its key interest rate by half a percentage point to approximately 4.9% has sent shockwaves through the financial …
Navigating the Maze Market shifts and monetary policy have always danced a delicate waltz, and recent market activities have reminded us of this intricate interplay. As we step into this …
AI Boom, Economic Challenges, and Your Financial Future Navigating the mid-2024 market requires a keen understanding of today’s complex economic terrain. As we find ourselves at this juncture, the stock …
Have you sensed the growing unease rippling through your professional circles recently? It seems that every scroll through Linkedin unveils a new cohort navigating financial uncertainty. Some candidly share their job-hunting challenges, while others maintain a facade of success. Yet, beneath this veneer, their true circumstances often surface through persistent DMs seeking business opportunities or advice on weathering economic storms.
When making financial decisions, it's clear that our choices are more emotionally driven than we might expect. Hidden beneath our choices are strong mental biases that influence how we think and act. By examining three of these biases—confirmation bias, loss aversion, and mental accounting—we can see how our financial behaviors mirror wider patterns common across different cultures and economic systems.
With the current economy's ups and downs, families are carefully evaluating the affordability and value of investing in higher education.
Making good financial decisions is crucial for achieving our goals and securing our future. Unfortunately, we often make poor money choices despite our efforts. In this post, we'll explore why we make these mistakes and offer practical advice to improve your financial journey.
Mortgage Interest Payments Purchasing a home is a significant financial achievement that involves committing to a long-term mortgage. A mortgage enables one to own a home, but it also involves …
Transforming Desires into Smart Money Choices In my work as a financial advisor, I have seen people experience a wide range of emotions related to their financial situations. Newly married …
Money and Happiness Ten key principles explain how money and happiness are connected, and they involve redefining wealth to focus on what truly matters. By looking at how we spend …
The way most people pursue and think about retirement is fundamentally flawed and may lead to a less fulfilling life. What if we reimagined retirement as a life stage filled …
President Biden’s recent tax reform proposal has sparked discussions about its potential impact on wealthy individuals and their inherited assets. One key aspect of the proposal that has drawn attention …
The upcoming presidential election has stirred up a unique blend of hype, anxiety, and speculation, creating uncertainty for investors. The financial world braces for potential ripples as candidates make bold …
Understand How Loss Aversion and the Sequence of Returns Impact Your Investments On February 9, 2024, the S&P 500 index marked a historic milestone by soaring past the 5,000 mark, …
Learn about the S&P 500 index's remarkable journey and its impressive growth amidst economic growth and rising interest rates.
Recently, the market dipped into correction territory, typically characterized as a 10% drop from the previous peak, creating a contradiction with numerous indicators of a robust underlying economy. Since July’s …
The Allure and Pitfalls of Comparison In today’s hyper-connected world, it’s tempting to compare ourselves to the carefully curated glimpses into others’ lives on social media. However, this culture of …
As the Middle East crisis escalates, there’s a brewing political storm in Washington. Notably, the Congressional House speaker’s position remains vacant following the exits of Kevin McCarthy and Steve Scalise. …
On October 7, Hamas launched a surprise terrorist attack on Israel, leading to the murder of hundreds and a declaration of war by Israel. The situation is volatile and has …
As the year ends, financial markets face turbulence due to rising interest rates and economic uncertainty.
The journey to financial freedom is not just about crunching numbers; it's a psychological expedition that requires mindfulness, discipline, and consistency. While the mechanics of money—earning, spending, saving, and investing—are straightforward, the psychology behind these actions is what truly sets you on the path to financial independence.
Auto insurance can seem complex and confusing, especially if you're new to it. However, understanding the ins and outs of your policy is crucial for making informed decisions. Here, we break down key components of auto insurance coverage, provide examples, and answer some frequently asked questions.
Transitioning to a new job is a significant life event that comes with its own set of challenges and opportunities. One of the most critical tasks during this period is choosing the right benefits package. Given that most companies have a 30-day enrollment window, it's essential to make informed decisions quickly. In this article, we'll guide you through the 4 key tips for enrolling in benefits.
In the intricate web of life, we often find ourselves entangled in the tantalizing allure of “what ifs.” What if I had invested in that stock? What if I had …
Estate planning is a complex endeavor, and one of its most intricate components is the "step-up in basis." This mechanism can significantly influence the after-tax value of assets, especially when considering the difference between a full and partial step-up. Financial advisors play a pivotal role in guiding clients through this maze, ensuring they maximize their wealth for themselves and their heirs.
Backdoor Roth IRAs present an enticing avenue for high-income individuals aiming to optimize their retirement savings. However, this path is laden with potential hazards. This article aims to demystify the complexities of Backdoor Roth IRAs, highlighting common missteps and providing advice on how to circumvent them.
The world of investments is vast, with every option promising high returns and enticing success stories. One such avenue that has long been regarded as the ultimate path to riches is rental real estate. It’s hard to ignore the success tales of people who made fortunes through property rentals. Often touted as the epitome of passive income, this venture is painted in the brightest colors by many real estate gurus. But is this picture entirely accurate, or is there a darker side to it?
There's a tendency in our world today to view financial decisions as a series of disconnected snapshots. We make isolated choices, focusing on the immediate impact without considering the broader narrative of our lives. This approach, though seemingly practical, is akin to viewing a tapestry thread by thread, missing the grand design that emerges only when we step back.
In navigating the sometimes turbulent waters of family or couple financial discussions, Non-Violent Communication (NVC) offers an effective compass. Developed by psychologist Marshall Rosenberg, NVC encourages empathy and compassion in conversations, making it particularly useful for sensitive topics like finances.
Discipline is crucial for shaping our financial behaviors and achieving our goals. It goes beyond resisting impulsive purchases or making investment choices. Discipline encompasses our financial habits, informed decisions, and continuous learning.
Navigating the world of taxes as an artist can seem daunting, but it's a crucial aspect of your financial success. As an artist, you're essentially running a business, and this comes with certain tax implications. Your income isn't only derived from the sale of your artwork; it may also come from teaching, commissions, royalties, and grants. All these income sources are taxable and must be reported on your tax return.
Striving for Enough – Financial Independence Many people strive for complete financial independence, seeing it as the ultimate goal. However, this relentless pursuit can sometimes do more harm than good. …
This comprehensive guide provides an in-depth understanding of Donor Advised Funds (DAFs), a unique philanthropic tool that allows donors to make tax-deductible donations, maintain advisory privileges, and manage their charitable giving flexibly and efficiently. However, potential donors must consider certain drawbacks such as limited control, administrative fees, and minimum contribution requirements, and are advised to consult with financial professionals to ensure DAFs align with their financial and charitable goals.
As a creative individual, you likely have a passion for bringing your unique ideas and vision to life. Whether you're a writer, artist, musician, or entrepreneur, you have the ability to think outside the box and create something new and exciting.
As a creative freelancer, it's essential to establish a solid financial foundation to ensure long-term success. Start by creating a budget that accounts for all your income sources and expenses. Visual aids like spreadsheets and budgeting apps can be extremely helpful in tracking your cash flow.
Many investors are lured by the idea of taking “big bets” in a single stock to hit it big. However, this approach can be risky and often ignores potential losses. It is crucial to remain vigilant and know when to sell to avoid falling into drastic situations.
Are you considering eco-friendly upgrades for your home? Learn how you can save money while contributing to a greener future through valuable home energy tax credits. From renewable energy systems to energy-efficient home improvements, explore the tax breaks available to homeowners who prioritize sustainability.
Discover the overlooked real estate laws every homebuyer should know. Get expert tips and advice to navigate the homebuying process smoothly.
As a financial advisor, it is crucial to stay informed about various investment opportunities and strategies to help clients achieve their financial goals. One such strategy is the 721 Exchange, …
Discover the magic of investing in the stock market through compounding, patience, and persistence. Unlock your financial potential with our insightful guide to long-term wealth creation.
Proactive Senior Financial Planning As people age, it becomes increasingly important to recognize the early signs of cognitive decline, as this can have a profound impact on their ability to make sound financial decisions. However, identifying the onset of cognitive impairment is not always easy. During the early stages of cognitive decline, individuals are more […]
Art collecting, a multi-faceted endeavor, necessitates meticulous attention, planning, and expertise. Collectors must comprehensively understand the art market and their individual goals and preferences to make informed decisions. This article …
Planning Around Variable Income Managing finances can be particularly challenging for those with variable incomes, as fluctuations in earnings can make it difficult to plan and control spending. This often …
Generating “passive income” through real estate rentals can attract many aspiring investors. However, the reality often needs to catch up to the romanticized expectations, leaving many investors disillusioned with the entire process.
Complexity vs. Simplicity Simplified Financial Planning. Picture this: you’re having a conversation with a friend who’s excited about a new investment opportunity. It could be a promising cryptocurrency or a …
Passive income is income earned without having to work for it actively. This can include rental income from investment properties, stock dividends, royalties from creative works, and more.
Money may provide a sense of security but cannot address our underlying existential anxieties. These fears are intrinsic to the human condition and cannot be fully resolved through material wealth.
Purchasing a home has long been considered a rite of passage and a solid investment, but the reality is that it is not always the case. While homeownership can provide …
Taxes are an inevitable part of investing in real estate. You can, however, defer or avoid paying capital gains taxes by following some simple rules of a 1031 exchange. Yes, you read that correctly!
Most people don’t realize that being an art collector comes with a significant cost.