In entrepreneurship, the excitement of forging your own journey is accompanied by unique challenges. Among these challenges is navigating how to handle an unpredictable income. Unlike the predictability of a monthly salary, variable income can swing you from feast to famine, making financial planning feel impossible. But with informed strategies in place, it’s possible to […]
How much does a financial planner cost? A financial planner can cost anywhere from a few hundred dollars to hundreds of thousands or even millions of dollars. It entirely depends on the type of services being offered and how their fee structure works. A financial planner will either charge an AUM fee, flat annual fee, […]
An HSA works similarly to a retirement account, but comes with unique tax advantages not available with other plans. To compare, let’s also look at the traditional and Roth IRA. HSA withdrawal rules Qualified withdrawals You can make tax-free withdrawals from your HSA at any age to pay for qualified medical expenses. Nonqualified withdrawals If […]
An HSA (Health Savings Account) offers you a triple tax-advantaged way to save for your medical expenses. In many ways, it works similarly to a retirement plan. You make contributions to your account with pre-tax income and receive a tax deduction for the tax year, like a traditional IRA. The money in your HSA can […]
An HSA, or Health Savings Account, is a type of tax-advantaged savings account that is designed to help individuals with high-deductible health insurance plans (HDHPs) save for medical expenses. It lets you contribute money on a pre-tax basis (with income you haven’t paid taxes on yet) to pay for medical expenses like dental work, vision […]
An emergency fund is a key component of any good financial plan. It prevents you from having to borrow money to cover unexpected expenses, which would only add onto the debt load you already have. According to a 2022 survey by Bankrate, 56% of Americans don’t have enough money in their savings accounts to cover […]
