Having an emergency fund is desirable and offers peace of mind for unexpected expenses. However, cash investment alone is not sufficient
Whether you are looking to pay off student loans or credit card debt or a personal loan, you can achieve your goal if you are willing to follow this simple formula: Spend less than you earn and direct any money that you can spare, towards paying off your remaining balance.
Spending in your 20s and even your 30s on spontaneous things can be very enjoyable in the moment, but not perhaps the wisest financial decisions you can make. When you spend without having enough savings in place and without budgeting appropriately, things can easily get out of hand even if you are earning a lot.
Choosing the right claiming strategy is even more important under new Social Security regulations. According to Social Security Administration (SSA) statistics, Social Security benefits account for about 34% of retirement income for the average American.
Within an IRA, capital gains, dividends, and option premium are collected tax free. We believe this to be one of the strongest arguments for rolling over your 401(k). At CWP, we specialize in managing a dividend strategy that is enhanced by selling covered calls.