Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
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It’s that time of year again, where, if you work for a medium-to-large employer, you’ve got some decisions to make because it’s open enrollment time. Of course, depending on your situation, you may have been working remotely for a while, but, even so, you will likely have the opportunity to review your benefits package and make changes. And you’ll want to make the right moves, because your choices can have a big financial impact on your life. So, take a close look at these key areas of your benefits program: • Health insurance – Think about...
Each year, on the first Sunday after Labor Day, we observe National Grandparents Day. Although it’s not as widely recognized as Mother’s Day or Father’s Day, if you’re a grandparent, you probably want to do whatever you can to help your grandchildren on their journeys through life. So, you might want to consider the following moves: Contribute to their education. If you want to help your grandchildren pay for college, you have a variety of options, including 529 plans. You could also simply set aside some money in an investment account earmark...
Labor Day is almost here. Of course, this year, the holiday may have a different impact, given the employment-related stress and disruptions stemming from the coronavirus. Yet, it’s good to recognize the value of work and its importance in achieving your life’s goals. But if you’re going to retire comfortably and reach your other financial objectives, you also need to invest – and your investments need to work as hard as you do. To help make this happen, you need to know why you’re investing...
You won’t see any greeting cards celebrating it, and it’s not likely to be on your calendar, but in just a few weeks, National 401(k) Day will be observed. And this type of recognition may be warranted, too, because 401(k) plans have become key building blocks for a big part of people’s lives – a comfortable retirement. Are you making the most of your 401(k)? Of course, during the past few months, you may have had mixed feelings about your 401(k). After all, at the beginning of the coronav...
The investment world contains different types of risk. Your stocks or stock-based mutual funds could lose value during periods of market volatility. The price of your bonds or bond funds could also decline, if new bonds are issued at higher interest rates. But have you ever thought about longevity risk? Insurance companies and pension funds view longevity risk as the risk they incur when their assumptions about life expectancies and mortality rates are incorrect, leading to higher payout levels. But for you, as an individual investor,...
Like most people, you probably have many financial goals: a comfortable retirement, long vacations, college for your children or grandchildren, the ability to leave something behind for the next generation, and so on. To achieve these various goals, you may have to follow different investment strategies – and you might have to make some tradeoffs along the way. To pursue this multi-goal/multi-strategy approach, try to follow a clear course of action, including these steps: Define your goals ...
If you were to inherit a large sum of money, what would you do with it? The question may not be hypothetical, especially if you are in the millennial, Gen X or Gen Z demographic groups. That’s because the baby boomers – often referred to as the richest generation in history – are poised to transfer some $30 trillion in assets over the next few decades, according to the consulting firm Accenture. Of course, this is a “macro” figure, and everyone’s situation is different. Furthermore, since baby...
If you have a medical appointment this week, you might want to wish your nurse a happy National Nurses Week. This annual event is designed to celebrate the important role nurses play in health care. Of course, while nurses and doctors can help you in many ways, you can do a lot of good for yourself by adopting healthy living habits, such as eating right, exercising frequently, and so on. But you can also do much to help your financial health. Here are a few suggestions: Stay invested. During times of market volatility, it can be temping to...
Mother’s Day is almost here, so start shopping for the flowers or candy for Mom. But this year, why not also go beyond the traditional? Specifically, if your mother is still working but getting close to retirement, consider providing her with a gift that can help make her days as a retiree more pleasant. Here are a few suggestions: • Contribute to her IRA. As long as your mother is employed, she can contribute to an IRA, and she may already have one. If so, help her fund it for 2016. You can’t contribute directly to her IRA, but you can certa...
Tax Freedom Day, which typically occurs in late April, according to the Tax Foundation, is the day when the nation as a whole has earned enough money to pay off its total tax bill for the year. So you may want to use this opportunity to determine if you can liberate yourself from some investment-related taxes in the future. Actually, Tax Freedom Day is something of a fiction, in practical terms, because most people pay their taxes throughout the year via payroll deductions. Also, you may not mind paying your share of taxes, because your tax...
On April 22, we observe Earth Day. Like many people, you might participate in some activities to help the health of our planet. But you can also do some things to improve your personal investment environment. In fact, you might want to follow a key environmental theme: reduce, reuse, recycle. How can these elements be applied to investing? Here are some ideas: • Reduce — You don’t want to waste time, effort and money on investment decisions that will ultimately not benefit you much, if at all. For example, if you are constantly buying and s...
Even if you’ve been out of school for a few years, you may still have a vivid reminder of college: your student loan debt. Since you’ve joined the workforce, you might be paying back your loans as best you can. But can you gradually reduce your debts while still putting money away for your long-term goals – such as retirement? Of course, you might think it’s premature to even think about retiring, since you probably have decades to go before you say goodbye to the working world. But the sooner you begin saving and investing for retirem...
To be successful at investing, some people think they need to “get in on the ground floor” of the next “big thing.” However, instead of waiting for that one “hot” stock that may never come along, consider creating an asset allocation – a mix of investments – that’s appropriate for your needs, goals and risk tolerance. But once you have such a mix, should you keep it intact forever, or will you need to make some changes? And if so, when? To begin with, why is asset allocation important? Different types of investments – growth stocks, inco...
If you’re at the beginning of your career, you might not be thinking too much about the end of it. But even younger workers should be aware of – and saving for – their eventual retirement. And since you’ve got many years until you do retire, you’ve got a lot of options to consider – one of which is whether an IRA may be appropriate for you and, if so, what type. Essentially, you can choose between a “traditional” IRA and a Roth IRA. (Other types of IRAs are available if you’re self-employed.) With a traditional IRA, you contribute “preta...
Now that spring has officially sprung, you might look around your home and decide it’s time for some sprucing up. But you don’t have to confine your efforts to your house and yard – you can also engage in a little “spring cleaning” in your investment portfolio. Here are a few suggestions for doing just that: • “Dust off” your investment strategy. Dusting is a big part of spring cleaning. Light fixtures, shelves, windowsills – they can all acquire layers of dust and grime that need to be whisked away. And if you’ve left your investment strategy...
April showers may bring May flowers, but March is National Umbrella Month. While ranking high on the list of truly obscure celebrations, this “month” can still teach us a few things – especially if we think about “umbrellas” that can help us protect our financial goals. Consider these key areas: • Your vulnerability to emergencies – It’s a good idea to maintain an emergency fund containing three to six months’ worth of living expenses. Without such a fund, you may need to dip into your long-term investments to pay for unexpected, and u...
International Women’s Day was observed on March 8. Around the world, thousands of events will honor women’s achievements. Yet, women still face challenges in many areas of life – such as their financial situations. So if you’re a woman, you may want to use this occasion to consider steps you can take to help move toward your important financial goals, such as a comfortable retirement. First of all, be aware of the potential obstacles facing women: lower earnings than men, longer lifespans than men and more time out of the workforce than me...
For many people, the concept of retirement can be scary, both emotionally and financially. If you, too, feel somewhat anxious about what awaits you, you might feel more comfortable in knowing that, depending on where you work, you might be able to retire in stages. As its name suggests, retiring in stages typically involves reducing one’s work hours from full-time to part-time, and then, eventually, to complete retirement. If you enjoy the social relationships of work, and you define part of your identity with what you do at your job, this t...
As an investor, you may be gaining familiarity with the term “market correction.” But what does it mean? And, more importantly, what does it mean to you? A correction occurs when a key index, such as the S&P 500, declines at least 10 percent from its previous high. A correction, by definition, is short-term in nature and has historically happened fairly regularly – about once a year. However, over the past several years, we’ve experienced fewer corrections, so when we have one now, it seems particularly jarring to investors. How should you res...
If you have a child in college, you’re probably familiar with the Free Application for Federal Student Aid (FAFSA), which must be completed to help ensure that students don’t miss out on federal and state grants, work-study jobs and loans. But you might not know that some important changes will be coming to the FAFSA during 2016 – and these changes can affect both the process of filing for aid, and, possibly, the amount of aid your child will receive. Here are three key changes to watch for: • Earlier availability of the FAFSA – Currently, you...
Americans spent nearly $19 billion in Valentine’s Day gifts last year, according to the National Retail Federation. Much of this money went for gifts with short shelf lives, such as candy, flowers and restaurant meals (and about $700 million was spent on gifts for pets). There’s certainly nothing wrong with giving chocolates or roses. But this year, think about going beyond the classic gifts. Instead, use Valentine’s Day as an opportunity to determine how you can make gifts with long-lasting impact to your circle of loved ones. Here are some su...
“Be prepared” is the Boy Scout motto, and it’s also pretty good advice for anyone seeking to guard against various disasters – including financial ones. Here are some events that can have serious financial consequences, along with suggestions on preparing yourself: • Loss of employment – If you were to lose your job, your family might have to struggle financially to make it until you’re employed again. To protect against this potential threat, try to build an emergency fund containing three to six months’ worth of living expenses. That...
January 29 is National Puzzle Day, with puzzle celebrations and events taking place at museums, libraries and other venues across the country. Why this date was chosen – or why National Puzzle Day even exists – is something of a mystery. But as an investor, you can find value in the concept of a puzzle – specifically, in putting together the pieces of your financial puzzle. What are these pieces? Here are the essential ones: • Growth – At different times in your life, you will have various goals – purchasing a first or second home, sending your...
You invest so that you can achieve a variety of goals, such as a secure retirement. It’s inevitable, though, that you will incur some costs when investing, ranging from payments to a financial professional to costs of educational materials. So it’s a good idea to familiarize yourself with these expenses. If you work with a financial professional – and you should, because the investment world is complex – you will need to compensate this individual for his or her expertise and guidance. Financial advisors get paid in different ways, includi...
We’re just a few weeks away from the first caucuses and primaries, so presidential election season is in full swing. As a voter, you may be keenly interested in the election process. But as an investor, should you be concerned? If you take a look back, you might be somewhat encouraged over the prospects of the financial markets this year. In the last 12 presidential election years, the Dow Jones Industrial Average has been up nine times and down just three. So, election years must be good for the financial markets, right? Not necessarily. In e...
