Although they should only be used as a last resort, 401(k) loans can be a helpful tool to get you through a rough time or to help you contribute to a downpayment for a primary residence. A 401k loan
In our previous Retirement for Beginners blog post, we illustrated the difference between saving money under your mattress or in a piggy bank and investing for retirement. The key takeaway was that if you just save money,
“I’m starting Monday!” Ahhhh… the age-old excuse for why you’re not in a fitness routine right now. We can put this excuse with “I don’t have time.” Let it live next door to “I have no motivation.” The funny
It’s Retirement Month at The Financial Gym Advisors, and we’re kicking off the month with a retirement guide for beginners. Since it’s a big topic, we’re breaking it down into several parts, and this is part one, where we’ll
In May, our Certified Financial Trainer Tina wrote this helpful blog post to inform our clients and readers about this year’s unique Child Tax Credit and to help parents know what to expect as the program rolled
For most of us, our first experience with insurance is buying car insurance to meet state laws or a lender’s requirement. But building a comprehensive insurance plan is an absolute necessity to anyone who wants to be in great
Rest assured, Financial Friend, you are not alone. Last weekend alone 3 meetings popped onto my calendar with descriptions like “Impending financial downfall,” “Save me from myself,” and “I can’t stop spending money.” It’s not shocking that we would
Our guest blogger today is Derby Chukwudi. Derby is a contestant in the Miss New Jersey USA competition, and she is passionate about travel, education, reading, writing, and also the power of financial literacy. Here, she shares some money
I never thought of myself as being bad with money. I usually had an extra month or two of rent in the bank, I didn’t rack up charges on my credit card, I lived frugally enough to enjoy life
Over ten years ago now, I left a successful investment banking career to become a Financial Advisory at Merrill Lynch because I saw a tremendous need for diversity in the financial advisory space. I enjoyed the entrepreneurial spirit of
Although it can seem counterintuitive at times, having and using credit cards are essential parts of optimal financial wellness. Not only do credit cards provide us with a temporary safety net if we need cash in a pinch, but
Getting financially fit can be challenging for anybody, but a lot of the steps towards building a healthy relationship with money can be more tough for those with Attention Deficit Hyperactivity Disorder. Recently we interviewed Amalia Sirica, a FinGym
Ever heard of the terms RSUs, stock options, ESPP, and ISO? (The financial world loves its acronyms, doesn't it?) Those are options that you may have for investing that come from your employer. All of these options may not
The basic facts of the racial wealth gap are that Black Americans hold about 13% of the wealth of white Americans. This wealth disparity can be seen through almost every measure of wealth, from actual financial holdings, to income
In four more months I’m becoming a father for the first time. My wife and I are excited to bring a new person into the world, but with it come so many challenges. How much do we spend on
So, not unlike many of our clients at the Gym, you bailed on your big city tiny apartment and giant rent burden in favor of getting through a tough time without bleeding cash. Good for you for making a
As trainers, we always give our clients a weekly spending goal. This is supposed to be for everything that isn’t a fixed monthly expense. My fixed bills each month are rent, utilities, internet, and a Netflix family subscription. I
At the Gym we work with a lot of people who are focused on building credit. Some people are recent grads who are transitioning from school to full time work and becoming financially independent from their families. Others are
131 trillion dollars. That’s the amount of money that governments, companies, organizations, and people like you and me need to invest in climate solutions between now and 2050 to meet the targets in the Paris Climate Agreement. As if
So, what is “house hacking?” In short, house hacking is a way to offset your living expenses by reducing or eliminating your housing expenses, or even making money off of your home. It can require doing some research and
Under previous law, if you were eligible for the Child Tax Credit (CTC), you could get up to $2,000 per qualifying child that was age 16 and under as of the end of the year. The American Rescue Plan
