Compound interest has been dubbed the "eighth wonder of the world." Benjamin Franklin held a similar fascination with compound interest, using it to create endowments for the cities of Boston and Philadelphia that are still paying out. What is it about compound interest that drew the attention of these geniuses, and what separates it from other forms of interest?
Who doesn’t enjoy tying up year-end loose ends? The original SECURE Act was signed into law on December 20th, 2019. Its “sequel,” the SECURE 2.0 Act, was similarly enacted at year-end on December 29th, 2022. Both pieces of legislation seek to reform how Americans prepare for retirement while juggling current spending needs. How, when, or will each of us retire? How can government incentives, regulations, and safety nets help more people safely do so—or at least not get in the way?
Start the year off right by getting started on these five top financial goals.
If you’re seeking clarity on how to position your investment portfolio, the daily spew of financial commentary won’t help. To cut past the clutter, let’s revisit our investment selection process, which speaks to the importance of looking past today’s unsettling news in pursuit of your greater, long-term goals.
If you find yourself with a bit of extra time on your hands in the upcoming months, you may want to use this time to check in with your family’s finances.
Understanding diversification is the first step in building a strong portfolio. Are you ready to weather the storm?