Rich’s Recommended Reading

Designating a beneficiary on retirement accounts is one of the most important—yet one of the most frequently neglected—retirement planning tasks. A beneficiary is any person or entity that an account owner chooses to receive the benefits of a retirement account in the...

By William Sanders and Matthew Bencivengo, Interns The companies comprising the S&P 500 and the Magnificent Seven include many that have invested heavily in AI. What does this mean for investors? As current high school students, we have been given a blessing, and...

If you participate in a traditional pension plan (also known as a defined benefit plan), your plan may offer several payout options including "qualified joint and survivor annuity" (QJSA) if you are married. A QJSA is an annuity that pays a dollar amount (usually...

Traditional economic models are based on the premise that people make rational decisions to maximize economic and financial benefits. In reality, most humans don't make decisions like robots. While logic does guide us, feelings and emotions — such as fear, excitement,...

Although 529 plans were created to help pay for children’s college tuition, those funds can also be used for a variety of qualified educational expenses. In fact, a series of changes to federal law have given investors added flexibility for how they can put 529...

The “great wealth transfer” is set to take place over the next two decades, when baby boomers (the wealthiest generation in American history) will pass $30 trillion down to younger generations. One common asset many aging parents will look to transfer or sell is their...

Driving is critical to helping aging loved ones maintain their health and independence. But what if it becomes dangerous for them to get behind the wheel? IN THIS ARTICLE: The risk of not driving Are aging drivers dangerous? Car tech that helps older drivers   In...

Investing during an election year can be tough on the nerves, and 2024 promises to be no different. Politics can bring out strong emotions and biases, but investors would be wise to put these aside when making investment decisions. Benjamin Graham, the father of value...

by John M. Mulera, Intern Navigating the financial landscape is a journey filled with various stages, presenting unique challenges and opportunities. From college years where students struggle with budgeting their modest incomes, to later years of retirement where...

Practical insights from Marc Milstein, neuroscience researcher The costs associated with an unhealthy brain can be significant. For example, the lifetime cost for someone with dementia is nearly $400,000.1 From both a financial and quality-of-life perspective, it...

What a difference a year makes. At the start of 2023, market pessimism was widespread, investors braced for a recession, and many expected another down year in stocks. Instead, the economy proved remarkably resilient, inflation declined at a rapid pace, and U.S....

Gen Z includes anyone born between 1997 and 2012. Described as the most diverse generation, Gen Z grew up with technology that previous generations did not. Although Gen Z is notable for using their devices and social media excessively, they are tech-savvy, ambitious,...

In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024.  The first provision allows for tax- and penalty-free rollovers from a 529 plan to a Roth IRA. The second provision...

As we near the halfway mark of the year, this is an ideal time to conduct a midyear financial planning review so you can assess your progress, make necessary adjustments, and ensure that you are on track to achieve your financial goals. This checklist of topics to...

What is a 529 Plan? A 529 Plan is a tax-advantaged savings plan designed to help you save in advance to pay for college expenses like tuition, books and campus housing. These plans are either “prepaid” which is school-specific, or “savings” plans which are more...

With tax season approaching, many of us are busy gathering the appropriate documents, meeting with CPAs, and ensuring that relevant tax deadlines are met. But amid all the hustle and bustle, taxpayers also need to keep an eye on the risks—especially tax season scams....

Stephen King once said: “Books are a uniquely portable magic.” Many of our readers must agree because we’ve received numerous requests to publish a list of favorite books selected by Capital Group investment professionals during our monthly webinars. So, here you have...

Caring for aging parents can be a difficult planning aspect to balance. If you are among the “sandwich generation,” you may be trying to support your aging parents as well as your own children. Today, individuals are living longer than before, so it is better to be...

As we close out this year and look ahead to 2023, multiple questions may arise. As citizens, as workers, and as family members, we want to know: will we have a recession, and what will that mean for my loved ones and me? As investors, we watch the markets after a...

Illness and death are unfortunate and unpredictable realities. However, as little as people like to consider being incapacitated or dying, creating a will and estate plan is vital to make sure that your wishes are carried out. The process of creating a will and estate...

Each year, the incidence of identity theft rises, but did you know that cybercriminals actually prey on some groups of people more often than others? Who are these more vulnerable victims? Why are they more likely to be the targets of cyberscams? Group 1: Social Media...

HOW TO HELP A NEW COLLEGE STUDENT PREPARE FOR SUCCESS The first semester of college is an exciting time, and the perfect moment to pass along financial tips for your new college student. Oftentimes, it’s the first chance young people have to leave the nest, spread...

Are you trying to imagine what 5,000 vinyl records looks like?  Picture a small, local record store, with walls and shelves covered and filled with cases upon cases of records, and you might be imagining something close to that number!  The story of how I inherited...

Now is The Time to Strengthen Your Finances and Finalize Your Retirement Plans While it’s true that it’s better to begin saving earlier rather than later, it’s not too late to start building wealth in your 50s. In this decade of life, there are still smart moves you...

We all know men and women are different in some fundamental ways. But is this true when it comes to financial planning? In a word, yes. Everyone wants financial security. But women often face unique obstacles that can affect their ability to achieve it. Let's look at...

Life insurance has long been recognized as a useful way to provide for your heirs and loved ones when you die. Naming your policy's beneficiaries should be a relatively straightforward task. However, there are several situations that can easily lead to unintended and...