60 Minute Finance

Seven Dangerous Financial New Year’s Resolutions

John — Mon, 03 Jan 2022 19:36:00 +0000

Seven Dangerous Financial New Year’s Resolutions As January has rolled around once again, many will be making New Year’s resolutions. Studies have shown that 62% of Americans will make New Year’s resolutions, although only 8% actually achieve them! Resolutions related to personal finance are the third most popular type made (behind self improvement and weight […]

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How A Sinking Fund Smooths Your Cash Flow

John — Thu, 07 Oct 2021 13:50:00 +0000

Using A Sinking Fund to Smooth Out Your Cash Flow One of the challenges many new budgeters face is how to handle the periodic payments that arise throughout the year. Scheduling the monthly rent or mortgage payment is easy, as are estimates for electricity (seasonally adjusted), telephones, and even gas and food. But what about […]

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Are employer 401k match contributions the same for pre-tax and post-tax plans?

John — Sun, 03 Oct 2021 14:00:00 +0000

Q. My company allows both pre-tax and after-tax employee contributions to our 401k plan. Is the company’s 401k match identical for both plans? My employer allows pretax and after-tax employee contributions to our 401(k) plan. Is the company’s match identical for both plans? I earn $100,000 and I want to contribute $6,000 at a 33.33% tax rate. My company matches $.50 for every […]

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How large and where should I keep my emergency money?

John — Sat, 02 Oct 2021 20:51:00 +0000

Q. I’ve heard it’s good to have an emergency fund. How much should I have and where should I keep it? You are certainly correct that it’s important to have some money set aside for life’s inevitable emergencies. It’s not a question of “if” an emergency will occur; it’s a matter of “when”. I’ve noticed […]

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The Antidote for House Buying Fever

John — Sun, 19 Sep 2021 10:30:00 +0000

How to prevent house buying from blowing your budget Home buying can be a trap. The best laid financial plans can self destruct over a beautiful view from a backyard deck, a flowing open floor plan, or a luxurious master bath. Yes, yes, I know we enter the home buying process with our budgets […]

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Should I use my 401k to pay off a mortgage before I retire?

John — Mon, 07 Dec 2020 20:30:49 +0000

Should I use some of my 401(k) to pay off a mortgage, but carry short term debt into retirement? I’m 65 years old and I’m considering retirement this year. I have a mortgage and some short term debt. I am thinking about using some of my 401(k) to pay off my mortgage and carry the short term […]

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Can A Finance Broker Help You?

John — Mon, 30 Nov 2020 21:17:56 +0000

(This is a Collaborative Post) Can A Finance Broker Help You? In the legal world, there are so many things that many people don’t know about and are left in the dark when seeking support for themselves for many reasons such as mortgage matters, financial issues or even commercial problems. Of course, not everyone can […]

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Five Post-Pandemic Financial Commitments

John — Wed, 20 May 2020 15:51:02 +0000

Our world has greatly changed over the last few months. Suddenly, the drama of the upcoming Presidential election, the continued political arguing in Washington, tensions with foreign nations, and even the preparation for summer vacations have taken a back seat to the coronavirus. Everyone has been impacted by the pandemic, some more significantly than others. […]

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Six Financial Lessons Learned from COVID-19

John — Mon, 04 May 2020 10:23:27 +0000

One of my favorite stories in the Old Testament is that of Joseph. Sold into slavery as a young man by his jealous brothers, he eventually rises to be second in command in Egypt. With his God-given ability to interpret dreams, Joseph tells the Pharaoh in Genesis 41 that the next seven years will be […]

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Should I sell my stocks? No, and here’s why.

John — Fri, 17 Apr 2020 18:12:53 +0000

Q. Should I sell my stocks? The market has dropped a lot and may continue to do so. Is it better to sell and stay in cash until it recovers? A. The recent market drop leads many investors to sell their equities. It’s a very understandable reaction to the loss of value in your 401k, […]

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