5 Things To Consider When Buying Rental Property
By Ann D. Blakey, CFP®
The Backdoor Roth IRA: Converting Non-Deductible IRA Contributions Into a Roth IRA
By Todd I. Youngdahl, CFP®
Roth IRAs remain great savings vehicles for many reasons. They can be a tax-free income source in retirement. They don’t have required minimum distributions when you reach age 72 as with most other tax-advantaged retirement plans. And, they have flexible inheritance rules that will benefit your children and grandchildren.
Your 2021 Monthly Financial Planner
By The CFP® Team at Washington Wealth Advisors
Can you believe it is already February? How are your 2021 New Year’s resolutions going? If they’re already a thing of the past, not to worry. We’ve created a financial to-do list to help you get your financial life on track in 2021.
January and February: Review Your Situation and Investments
After a year like 2020, it’s probably time for a solid financial checkup. Write down the answers to questions such as:
Investing 101: Growth vs. Value Approach to Investing
By Todd I. Youngdahl, CFP®
Comparing growth and value stocks is like a shiny new candy-apple red sports car versus an old reliable beat-up sedan. Growth stocks are those hot picks your uncle is always telling you to buy, skyrocketing to superstardom with no end in sight. On the other hand, value stocks are those old tried-and-true stocks, no hype, no fuss. So, which one is better for you? At Washington Wealth Advisors, we believe both can be a part of a healthy investment portfolio.
What are the Benefits of Saving Early?
Turn Over A New Financial Leaf And Start 2021 Off Right!
By Ann Blakey, CFP®
Even with all the challenges we face in 2021, there’s always something hopeful and exciting about a new year. Of course, we will all be turning another year older at some point this year – but if you don’t like the thought of adding a number to your age, here’s the good news: there are some financial advantages to reaching certain milestone birthdays.
Here’s how you can maximize your finances if you are turning one of these ages during 2021.
401k Basics: The What and The Why?
By Todd I. Youngdahl, CFP®
If you are a full-time employer and are offered enrollment into a 401k as one of your job benefits, you should definitely take advantage of this opportunity, especially if you plan to retire one day.
Here are the basics about 401k plans as well as a slew of reasons to take advantage of them.
Key IRS Numbers for 2021
By Ann D. Blakey, CFP®
As the crisp air of winter begins to take its hold, financial advisors spend time on year-end wrap up activities and preparations for 2021 with our clients. Some of the important factors affecting our thinking are the key numbers published by the IRS for 2021 limits and deductions. It allows us to plan for our clients and develop strategies to support the best ways to help them succeed financially. Here are some of the key numbers that the IRS has released for 2021.
The 411 on Bonds - Types and How to Invest
Regular and predictable income during retirement can be hard to achieve, especially with today’s low to non-existent interest rates. Bonds, bond mutual funds, and bond ETFs are still the most consistent way to receive income while reducing your portfolio volatility.
Creating Your Own Emergency Savings Fund
By Maura C. Schauss, CFP®
If the coronavirus’ effect on the markets has taught us anything, it is that every single person should have an emergency fund. This is not just an idea, nor is it a savings account, but rather, it is a separate pool of money to only use in emergencies. So, how do you even start the process of creating an emergency savings fund?