Finance Archives - Page 2 of 4 - Millennial Wealth Management

5 Retirement Savings Tips for Millennials

July 29, 2021
Finance

Younger generations are dealing with challenging economic realities when it comes to saving for retirement. A good percentage of those in the gen z and millennial generation are graduating with student loan debt and dealing with a hot housing market all while trying to manage a budget on stagnant...

Federal Student Loan Relief Is Ending

July 22, 2021
Finance

Here’s a rude awakening if you are one of the millions of millennials that financed part of your college education with help from the government: federal student loans currently on pause will come due starting in May 2022. Of course, there are a lot of discussions currently going on in Washington...

5 Smart Ways To Use Your Monthly Child Tax Credit

July 12, 2021
Finance

ICYMI the IRS is rolling out Advance Child Tax Credit Payments starting on July 15th. Normally, If you have any qualifying children under the age of 18, you would be able to potentially claim the annual Child Tax Credit when you file your taxes. This year, unless you decide to opt out, the IRS will...

Traditional vs. Roth 401(k) Contributions

July 6, 2021
Finance

The different ways you can save for retirement is staggering. On top of that you need to decide what type of contribution to elect into your account (traditional, Roth, post-tax, pre-tax, etc.) Many people in the corporate or private sector have access to a 401(k) plan. This provides employees a tax-advantaged...

The ABCs of Employer Sponsored Retirement Plans

June 24, 2021
Finance

Retirement plans offered through your job come in all shapes and sizes. Understanding the details can almost feel like learning a foreign language. With all the IRS codes and lingo, the world of employer sponsored retirement plans resembles alphabet soup, especially if you’re unfamiliar with...

Is Being an Independent Contractor Worth it?

July 10, 2020
Finance

By Mack Bekeza, CFP® One of the most significant rights someone has in the United States is the ability to pursue happiness and can bear almost any “how” in terms of getting there. With that said, many people value being their own boss and live an “eat what you kill” lifestyle....

Decoding the SEP-IRA

June 19, 2020
Finance

By Mack Bekeza, CFP® With millions of small business owners in the United States, one of the most significant problems they face is how do they plan for retirement for themselves and their families while growing and maintaining their small businesses. On top of that, how can they incentivize their...

How Does a Credit Score Work?

June 12, 2020
Finance

By Mack Bekeza, CFP® A question I have been asked about lately is, how does a credit score work? If you are someone who is currently in debt or is considering opening a line of credit, you might want to read this! Why is it important to know your credit score? Knowing your credit score is essential...

Do You Have Unclaimed Property?

June 5, 2020
Finance

By Mack Bekeza, CFP® Did you know that 1 out of 10 Americans have something called Unclaimed Property? Did you also know that, according to the National Association of Unclaimed Property Administrators, approximately over $1,000,000,000 of unclaimed property is returned to its rightful owners/heirs...

The Basics of the Traditional IRA

May 29, 2020
Finance

By Mack Bekeza, CFP® Hopefully, you enjoyed my piece on Roth IRAs, but what about Traditional IRAs? Don’t people ask me about those too? Well yes, they do! For those who earn too much to contribute to a Roth IRA, you may want to consider the Traditional IRA (or just IRA) What is a Traditional IRA? Established...