You’re ready to get your finances organized and begin making your money work harder for you, but knowing where to start is difficult. It doesn’t help that financial planners have traditionally given clients a novel-length report of findings and recommendations complete with complicated charts and graphs. Taking a stack of papers home and trying to remember what you were supposed to do is … [Read more...] about 5 Ways to Build Wealth in 30 Minutes or Less
Saving and Investing
What Happens to My Roth IRA When My Income Increases?
I frequently recommend Roth IRAs to my clients as part of their retirement savings strategy. Because you contribute after-tax income, millennials who are still establishing their careers (and therefore are in a lower tax bracket) can lock in a lower tax rate on contributions now, and then pay no taxes when withdrawing money in retirement — even if you’re in a higher tax bracket. You can always … [Read more...] about What Happens to My Roth IRA When My Income Increases?
The Gen Y Planning Guide to Company Stock: What Are Restricted Stock Units (RSUs)?
This is the fourth post in a series on employer stock programs. Check out the previous posts on Incentive Stock Options, Non-Qualified Stock Options, and Employee Stock Purchase Plans. Like other forms of company stock, Restricted Stock Units, or RSUs, are granted to employees to attract, reward, and retain them. This can be when you’re first hired, or later on as a bonus (or both!). What Are … [Read more...] about The Gen Y Planning Guide to Company Stock: What Are Restricted Stock Units (RSUs)?
The Gen Y Planning Guide to Company Stock: What Are ESPPs?
This is the third post in a series on employer stock programs. Check out the previous posts on Incentive Stock Options and Non-Qualified Stock Options. Employee Stock Purchase Plans (ESPPs) can be a great way to take advantage of buying shares in your company stock at a discounted price, typically 10-15% off. Plus, your company makes it extremely easy to participate because you purchase shares … [Read more...] about The Gen Y Planning Guide to Company Stock: What Are ESPPs?
Ask Gen Y Planning: Should I Be a Socially Responsible Investor?
This question was submitted by a reader! Do you have a money question you’d like Gen Y Planning to answer in a future blog post? Submit it to genyplanning.com/askgyp. I would like to learn more about the pros and cons of socially responsible investing (e.g. VFTSX fund instead of VTSAX). What are the criteria used for picking stocks in funds like that? Socially responsible investing has … [Read more...] about Ask Gen Y Planning: Should I Be a Socially Responsible Investor?
Ask Gen Y Planning: How Should I Invest My Inheritance?
This question was submitted by a reader! Do you have a money question you’d like Gen Y Planning to answer in a future blog post? Submit it to genyplanning.com/askgyp. I am about to inherit $100,000. I am the first person in my family to ever receive an inheritance. What is a good low-risk investment that will protect the principle? This is a timely question, as many millennials stand to receive … [Read more...] about Ask Gen Y Planning: How Should I Invest My Inheritance?