October 25th, 2023

The Looming Revert

Nobody is talking about the fact that the tax provisions in the Tax Cuts & Jobs Act of 2017 are due to revert back, after December 31, 2025, to what they had been in 2017—just 26 months from now. But if and when that threshold is crossed, it could be a rude awakening for a … Continue reading “The Looming Revert”

September 20th, 2023

Common Financial Phobias

According to a recent survey, more than half of all Americans fear for their financial futures. Another study says that 77% of Americans feel anxious about their current financial situation. Even if both of the surveys overstate the numbers, the fact is that many of us have phobias about our finances, often rooted in past … Continue reading “Common Financial Phobias”

May 17th, 2022

Couples Retiring on the Same Page

Agreeing about what you want from retirement is crucial. What does a good retirement look like to Middle-Class Millionaires? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar?    The Social Security Administration currently projects an average retirement of 18 years for a man and … Continue reading “Couples Retiring on the Same Page”

December 14th, 2021

Eight Money Moves to Jumpstart Your Financial Health in 2022

For many, the new year is a time of renewal and reinvention, which makes it the perfect time to optimize your personal finances for 2022 and beyond. What financial, business, or life priorities do you need to address in the new year? Here are some ideas on how to get started: Review your financial plan. … Continue reading “Eight Money Moves to Jumpstart Your Financial Health in 2022”

December 6th, 2021

2022 Contribution Limits

Is it time to contribute more? Preparing for retirement for Middle-Class Millionaires just got a little more financial wiggle room. The Internal Revenue Service (IRS) recently announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts (IRAs), with the limit remaining at $6,000. The catch-up contribution for traditional IRAs remains … Continue reading “2022 Contribution Limits”

November 16th, 2021

Year End Tax Planning for Middle-Class Millionaires

It is time to start thinking about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation that could, among other things, increase top rates on both ordinary income and capital gain starting next year. Whether or … Continue reading “Year End Tax Planning for Middle-Class Millionaires”

November 4th, 2021

Social Security: Take or Delay?

Most American workers who have at least 10 years of work history will be able to start taking Social Security benefits as soon as they reach age 62. But should they? Some years back, there was considerable debate about whether a person was better off receiving the monthly checks early and investing them in the … Continue reading “Social Security: Take or Delay?”

September 21st, 2021

Are Your Taxes Going to Change?

Wise investors take the “big picture” view. Many of our Middle-Class Millionaire clients have heard what’s brewing in Washington, D.C., often referred to as The Build Back Better Act, the $3.5 trillion budget reconciliation bill, or the Jobs and Economic Recovery Plan for Working Families. Regardless of what name you’ve heard, one fact is clear: … Continue reading “Are Your Taxes Going to Change?”

June 23rd, 2021

Ways to Ease the Cost of College

How much could a college education cost in the 2030s? Those of you with kids may want to take a deep breath and sit down before reading the next paragraph.  A MassMutual analysis projects that four years of tuition, room, and board at a private college will cost nearly $369,000 in 2031. An article at … Continue reading “Ways to Ease the Cost of College”

May 20th, 2021

How COVID-19 Caused a “She-Cession”

Since the 1980s, unemployment rates have trended higher amongst men than women during a recession. In previous periods of economic downturn, this made sense. Male-dominated industries like construction and finance were the sectors most heavily impacted by a recession, when trade and industrial activity declines. But with the onset of COVID-19, we’ve seen a shift … Continue reading “How COVID-19 Caused a “She-Cession””