Car prices on both new and used vehicles are dropping dramatically. If you are considering buying a car, your opportunity to get a good deal is here now and will get even better over the next few months. So, save that down payment and be ready to negotiate. For 2023, buyers will finally be in … Are Car Buyers Finally in the Drivers’ Seat?
A 529 savings plan is a tax-advantaged plan designed to encourage saving for future higher education expenses. Contributions to the plan are not tax deductible at a federal level, but in the majority of states, the full amount or a portion of a taxpayer’s 529 plan contribution is deductible in computing state income tax. The … Secure Act 2.0 allows tax-free rollovers from 529 plans to Roth IRAs
[Part 4 of 4] Is a recession on the way – or better yet, are we currently in a recession? In Part 4 of this 4-part series, we discuss what you can do to prepare yourself. From growing your savings to tracking your spending – the key to riding the storm is how you manage your money BEFORE and DURING a recession.
[Part 3 of 4] Is a recession on the way – or better yet, are we currently in a recession? In part 3 of this 4-part series, we explore past recessions in the US, what caused them, and if they can help us understand what lies ahead.
[Part 2 of 4] Is a recession on the way – or better yet, are we currently in a recession? In part 2 of this 4-part series, we explore what a recession is and why this one is different. With record low unemployment and other conflicting indicators, the question isn’t “are we in a recession”; it’s how bad will this recession be?
[Part 1 of 4] Is a recession on the way – or better yet, are we currently in a recession? In this 4 part series, we explore the current economic landscape, conflicting definitions of a “recession,” what we can learn from past recessions, and steps you can take to be prepared. What will be the pin that pops this everything bubble?
Many financial experts are referring to the current economic situation in the US, and much of the world, as the “Everything Bubble”. Around the years 1995-2000 we had the tech bubble, otherwise known as the dot.com bubble, where the NASDAQ, which has a predominance of tech stocks, quintupled. The NASDAQ then plummeted by nearly 77% from 2000-2002. Fortunes were wiped out and companies with huge valuations and no earnings disappeared after first being valued at billions of dollars, without any real products or earnings.
We are currently experiencing considerable inflation in the US with the dollar. Some economists define inflation exclusively as the increase in the amount of currency in circulation, period. The more currency chasing the same amount of goods makes each unit of currency worth less, and therefore, the goods cost more.
The gross national debt of the United States just surpassed $30 trillion. The big question is, do we need to be worried? The answer is: yes, we do. Now, let’s break down why.
For almost 200 years after the founding of the United States, the value of the U.S. dollar was officially backed by gold. This was called the gold standard. In 1933, in partial response to the Great Depression, Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. In other words, a person could no longer insist on being paid in gold. For a while, at the time, it was illegal for Americans to own gold.
