The Roth IRA began in 1998 as a way to encourage middle-class Americans to save for retirement without reducing revenue (i.e.taxes) to the federal government in the short term. Although Roth IRAs have income limits aimed at excluding higher-income
It’s appalling—but unsurprising—that after hundreds of years of stripping Native communities of their land and natural resources, Native Americans still face tough economic challenges. To recognize Indigenous Peoples’ Day, we rounded up news articles, reports, and stats to know
If you have ever struggled or are currently struggling with money, it can feel like you are alone. That could not be further from the truth. Many Americans are living paycheck to paycheck and no one is born financially
Bankruptcy is often held up as the worst thing that can happen to us financially. We are taught to fear it. Creditors have an incentive to make us scared of bankruptcy because it’s the only way to legally wipe
There is something about fall that makes it feel like a good time for a refresh. Maybe it’s the changing of the leaves and that crisp fall air—or maybe it’s looking at your credit card statement after all of
Starting a family can be an exciting—but also stressful. This is especially true for individuals and couples who have to deal with additional costs to conceive a child, including LGBTQIA+ couples, single parents by choice, and hetero couples facing
With all of the excitement around federal student loan cancellation, we don’t want other federal student loan benefits to be overlooked. In particular, the deadline for the limited Public Service Loan Forgiveness (PSLF) waiver is quickly approaching. Borrowers who
A century ago, women still didn’t have the right to vote. But 102 years ago that all changed with the 19th amendment. The 19th amendment, which gave women the right to vote was signed into law on August 26,
A lot of us love to travel. I know this because I’ve worked with hundreds of clients on hundreds of financial plans, and once we work through the hard numbers like assets and liabilities and expenses, we talk through
Many companies and organizations struggle with how to assist employees in building short-term financial stability. While newer options like employer-sponsored emergency funds can certainly help, most companies already offer their employees an extremely effective savings tool: the ability to
At The Financial Gym Advisors, we are often asked by current and future parents how to best save for their child’s future and education. A common vehicle for this is the 529 account, but you may have also heard
Besides housing, eating out is one of the biggest line items we see in a client's budget. From fast food to fine dining, eating out can quickly add up and prevent you from meeting your savings goals on time.
There are a few critical choices we make about our retirement accounts including how much to contribute and what to invest in. Due to the rise in popularity of Roth 401ks, you might have one other important decision: should
While $10,000-$20,000 in federal student loan cancellation is welcome news for many borrowers, those with larger balances—particularly approaching or exceeding six figures—may feel underwhelmed by the assistance. Fortunately, the Biden administration’s announcement on student loans included provisions that have
During the summer, it’s easy to be liberal with your spending. After all, there are weekend getaways and impromptu rooftop happy hours, and you want to soak up as much summer fun as possible. By the end of the
Have you ever received a notice from your credit card company informing you that your credit limit has been cut? It happens more often than you’d think. For some people, this is a minor inconvenience. For others, it makes
If your job gave you a raise next week, what would you do with the extra cash? Would you order the most expensive wine bottle in your celebratory dinner? Go on a shopping spree and buy things you never
Most of us don’t doubt our need for health insurance, and since we don’t have access to universal healthcare, we do what we can to get insured. In lieu of a shift in sentiment that recognizes healthcare as a
This week, President Joe Biden announced that his administration will cancel $10,000 of federal students for low-to-middle-income borrowers and up to $20,000 for Pell grant recipients. Naturally, borrowers (including Financial Trainers and TFG clients) are anxious to find out
Let’s face it. It’s hard enough to manage finances as an individual. Balancing needs and wants, covering bills and non monthly expenses, and prioritizing which goals to save for first can take up some serious time and mental space.
At The Financial Gym Advisors, we have the good fortune to have seen a lot of people undergo huge financial transformations. When I see this happen, in an effort to offer the best support I can to future clients,
