Tag: Kenny Senour CFP®

2022 Quarterly Financial Review for Millennials

January 26, 2022
Finance

In uncertain times, having a review plan for your finances in place is vital. Needless to say, 2022 has gotten off to a rocky start. Political entrenchment in Washington continues to prevail as stock market volatility has shaken investors. Despite all the noise, following a plan has been and always...

End of the Year Planning Considerations

October 25, 2021
Finance

It’s hard to believe we are quickly approaching the end of the year. As we head into the holiday season and work (hopefully) begins slowing down, here are some end of the year planning considerations. This list is of course not exhaustive, but these are some of the major planning items to review...

The Backdoor (Roth) Might Be Closing

October 13, 2021
Finance

The Roth IRA can be a great way to hedge against rising taxes in retirement. One of the best aspects of a Roth IRA (or Roth money set aside in a 401(k) or other employer sponsored retirement plan) is that the distributions are completely tax-free in retirement as long as certain requirements are met. You...

Funding the Cost of College

September 21, 2021
Uncategorized

It’s no surprise that college tuition is undeniably expensive by most measurements and it’s not getting any cheaper. Communicating the reality of the cost of college requires a candid conversation with your children. Start planting the seeds to have that candid college discussion with your children...

How To Manage Lifestyle Creep

September 8, 2021
Finance

Lifestyle inflation, also known as “lifestyle creep”, is that slow but steady creep of spending more over time on luxury items and things that go beyond the typical basic necessities. A common phrase used to describe this phenomenon is known as “keeping up with the Joneses”. As income increases over...

Saving for a New Home Purchase

August 20, 2021
Finance

2020 was an unprecedented year in recent memory to say the least. The pandemic drove a number of trends, including younger Americans storing away cash like never before and a white hot housing market. As older millennials started families amid the backdrop of the pandemic, demand has surged for younger...

6 Steps To Create A Zero-Based Budget

August 10, 2021
Finance

In the finance world, we often talk about the need for a budget and how it’s the foundation of any financial plan. However, financial professionals do not always do a good job providing the practical advice of simply how to create a budget. In fact, we go into great detail in our Financial Foundations...

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...