This post was last updated on December 30, 2023, to reflect all updated information and best serve your needs.

A 403(b) plan or tax-sheltered annuity (TSA) is a retirement account for public schools, colleges, and universities as well as for churches and non-profit organizations. While the account works similarly to other retirement plans like a 401k, there are some differences.

This post was last updated on December 31, 2022, to reflect all updated information and best serve your needs.

No matter how well things are going, disaster can always strike. The best way to turn a disaster into an inconvenience is to have a solid emergency fund. A large setback can have significant consequences for your financial stability and security.

This post was last updated on December 30, 2023, to reflect all updated information and best serve your needs.

You’ve reached many milestones in your life so far, but retirement brings new challenges and opportunities. There are many goals that you may be looking forward to already or maybe you’re going back to the drawing board.

This post was last updated on May 26, 2023, to reflect all updated information and best serve your needs.

Retirement doesn’t mean you’ll no longer need or want to bring in any additional income. This is far from the truth for many people who’ve found ways to generate additional income after reaching retirement.

This post was last updated on July 16, 2023, to reflect all updated information and best serve your needs.

Just because you’re retired, doesn't mean you can’t still have a little side hustle or create new goals. Passive income is a great way to generate a little extra income without feeling like you’re “coming out of retirement” so to speak.

This post was originally published during the COVID-19 pandemic and was last updated on June 21, 2023, to reflect all updated information and best serve your needs.

Recent outbreaks of the coronavirus (a.k.a., COVID-19) outside of China raised concerns about health and safety. These increased concerns have sent stocks quickly lower over the last few trading days.

This post was last updated on October 25, 2022, to reflect all updated information and best serve your needs.

The Solo 401(k) is one of the most powerful retirement savings options for self-employed individuals. If you’re trying to save on taxes, save for your future, and run a business, the Solo 401(k) might be right for you.

This guest post was last updated on June 21, 2023, to reflect all updated information and best serve your needs.

A Donor Advised Fund (DAF) is like a charitable-giving savings account, helping you maximize your tax benefits while making a bigger impact on your favorite charitable causes.

This post was last updated on 20 June, 2023, to reflect all updated information and best serve your needs.

Money touches everything in our lives, but it doesn’t need to be the focal point of everything we do. Scrutinizing your money habits is a good thing, but you don’t want to constantly worry about each tiny detail of your spending. A full understanding of your money is good, so you don’t get carried away either – just don’t go overboard.

This post was last updated on  27 October, 2022, to reflect all updated information and best serve your needs.

In its simplest terms, an investment policy statement (IPS) is a list of rules drawn up between you and your financial planner to set clear and concrete goals for each other. It also works as a game plan for the financial planner so that they can employ their expertise in the best way they see fit to meet your goals in a timely and efficient manner. 

This post was last updated on December 30, 2023, to reflect all updated information and best serve your needs.

Saving money for retirement is critical, but not everyone knows how to do it effectively. You should already understand the value of building a nest egg for your golden years. However, when it comes to the types of accounts you have, it can start to get a little confusing. 

This post was last updated on June 16, 2023, to reflect all updated information and best serve your needs.

Check out Clint’s interview on the Crushing Debt podcast! In the episode Clint and Shawn talk about the Financial Freedom Blueprint course and the financial planning process NextGen Wealth uses to help clients. You can listen to the episode on your favorite podcast player or just click the play button below.

This post was last updated on October 27, 2022, to reflect all updated information and best serve your needs.

If the company you work for has an employee stock ownership plan (ESOP) or profit-sharing plan, you’ll want to pay close attention. Company stock in your 401(k) you could potentially be eligible for tax rules to help you save money on your taxes.

This post was last updated on December 30, 2023, to reflect all updated information and best serve your needs.

In addition to sounding cool, mega backdoor Roth conversions can be super helpful for long-term tax-savings. For high income earners, having the ability to get more money into a Roth account now will make retirement income planning much easier.

Whether you’ve been married five years or 25 years, divorce presents many challenges - including financial issues. This is likely a difficult time as you navigate uncharted waters. 

Friends and family may try to give you helpful information, but having a trusted attorney, tax professional, and financial advisor are essential to protect what you have and help you make informed decisions.

Modern budgeting tools simplify managing your money. Some of these tools don't cost anything, but some can still really benefit you for only a small fee. Mint and Quicken are perfect examples of these tools. 

Mint is free, while Quicken will cost you a small fee. However, both can be extremely helpful and keep your finances organized. Let's take a closer look at both of these great budgeting apps. 

There was a time when monitoring your financial situation was relatively complicated. Whether it was balancing a checkbook or writing expenses in a ledger, you had to input everything by hand and do a lot of math to get accurate results. 

Thankfully, we’re living in the golden age of technology. Instead of using old-fashioned financial tracking methods, all you need to do is download an app, and you’re ready to go. However, with so many options available, it can be a bit overwhelming to determine which one is best for your needs. Fortunately, we’re here to help with our review of Mint vs. Personal Capital. 

No matter how old you are, it’s never too late to start thinking about retirement. Although you will want to put money away in a variety of different accounts, one of the most reliable is an IRA. You may already be familiar with Traditional and Roth IRAs, but the fact is there is a way to move money from a Traditional to a Roth, which is considered a Backdoor Roth IRA or a Roth Conversion.

Both actually do the same thing in a slightly different way. A Backdoor Roth IRA is typically in relation to converting a Traditional non-deductible contribution to a Roth IRA. A Roth Conversion is normally in relation to a larger amount being converted from a Traditional to a Roth. Again, they both do the same thing but just have different names. Today, we’re going to focus on the Backdoor Roth IRA.

One of the biggest challenges to overcome when investing is trying to minimize your tax liability. Capital gains taxes can take a significant chunk of your gains if you're not careful. This is why you need to understand various tax strategies e to minimize your tax liability. 

Although it may seem a bit counterintuitive at first, tax-gain harvesting may be a viable option in some cases. While you may have heard of tax-loss harvesting, today we want to take a closer look at tax-gain harvesting to see how it works and when it should be deployed. This strategy is a bit more advanced than some others, but it can be beneficial when used effectively. 

Have you recently come into a $50,000 windfall, such as an inheritance? You may be tempted to buy a new car or take your family and friends on a dream vacation. 

But before you do, stop and consider all of your options — including saving the money...who would've thought a financial advisor would recommend this. 😁Developing a sound financial strategy is a good way to make your money grow.