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, …
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Able Wealth Management's blog on personal finance, financial planning, investing, taxes, and the behaviors and decisions that influence our actions.
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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 …
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.
With the current economy's ups and downs, families are carefully evaluating the affordability and value of investing in higher education.
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 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. …
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.
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 […]
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 …
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 …
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 …