DKE Private Client

By Michael Hartley CFP® | Protect Your Personal Wealth System

What's the Difference Between a Credit Card and a Charge Card?

Not knowing could cost you.<p>Charge cards and credit cards both enable you to buy items now and pay later, and they both offer rewards to cardholders. …

Personal Finance

What This Navient Lawsuit Means For Your Student Loans: Q&A

If you have a student loan, there is a good chance that it may be serviced by Navient.<p>Navient, which spun off from Sallie Mae, is the nation’s largest student loan servicer with more than 12 million customers and the servicer of more than $300 billion of government and private student loans.<p>As a …

College & University

Why Saving in Your 20s Is One of the Most Important Investing Decisions You Will Make

Building up your money doesn't have to be difficult, no matter how young you are.<p>2 min read<p>Opinions expressed by <i>Entrepreneur</i> contributors are their own.<p>Saving is often outside the frame of mind of people in their twenties. But, as Entrepreneur Network partner Phil Town recommends, the earlier you …

Personal Finance

What happens to your Social Security payments when one spouse dies

<b>Editor’s Note:</b> Journalist Philip Moeller is here to provide the answers you need on aging and retirement. His weekly column, “Ask Phil,” aims to help …

Retirement

3 reasons IRAs have edge over 401(k)s when it's time to tap your nest egg

For most working Americans, the savings vehicle of choice is a 401(k).<p>But a flood of retirement savings dollars moving from these employer-sponsored plans to IRAs suggests that retirees or workers nearing the end of their careers favor individual retirement accounts when it's time to tap the cash …

Retirement

What Is a Trust? A Guide to the Types of Trusts and Their Uses

The Business Dictionary defines a trust as a "legal entity created by a party (the trustor) through which a second party (the trustee) holds the …

Retirement

5 Social Security Rules You Should Know by Heart

Commit these to memory. You won't be sorry.<p>Millions of seniors depend on Social Security to serve as a critical income stream in retirement. Whether …

Retirement

Why more people should probably use pre-tax retirement accounts instead of Roths

It's not about your income, it's about your tax rate.<p>Anyone saving for retirement has probably had to decide between saving in a Roth account versus a traditional retirement account.<p>The biggest reason people recommend saving in a Roth account is if you think you'll have a higher income in …

Retirement

10 signs you have an unhealthy relationship with money

1/<p>You constantly worry about not having enough money.<p>HBO<p>Stefanie O'Connell, a financial advisor for millennials and author of "The Broke and …

Personal Finance

Taking a loan from your 401(k) does come with risks

For some workers, a 401(k) plan loan seems like a perfect way to access money: You borrow from your own account and repay yourself with interest.<p>Yet …

Personal Finance

Dollar for dollar: Consumers willing to pay more for financial advisers with designations

URBANA, Ill. - Whether it's buying a car, purchasing a home, or preparing to start a family, consumers are faced with many financial decisions …

Retirement

When is the best time to convert my traditional IRA to a Roth?

Free Preview<p>For full access, or Subscribe Now and get 4 weeks free!<p><b>Q.:</b> I have about $57,000 in my traditional IRA and about $6,800 in a Roth IRA. I …

Retirement

Fiduciary Groups Campaign Against SEC Rule

June 29, 2018 10:30 a.m. ET<p>Fiduciary advisor organizations are calling on their members to get in the SEC’s ear. The message: Fiduciary advisors …

Retirement

5 Things You Might Not Know About the Estate Tax

For example, did you know that the majority of estate taxes collected result from unpaid capital gains on investments?<p>The federal estate tax has been …

Retirement

The 20% Pass-Through Deduction: Where Do We Stand Now?

The Tax Cuts and Jobs Act — signed into law on December 22, 2017 — gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to deduct up to 20% of the income earned by the business. The motivation for the new deduction is …

Retirement

Major credit card companies are cutting their perks

After years of offering an ever-expanding menu of perks to their cardholders, several major credit card companies are going in the opposite direction -- eliminating or reducing the value of some of these extras.

This Is How Much Debt the Average American Has Now—at Every Age

See how you compare.<p>Americans have fallen back in love with debt.<p>Total household debt—a category that includes mortgages, student loans, and car …

Most Americans don't know how much money they will need for retirement

How big a nest egg you'll want depends on calculations that are unique to you -- but the need to do that math is fairly universal.<p>Imagine saving to buy a new car without having any knowledge as to what the vehicle you want costs. Maybe you'd set aside $5,000 and head to the dealership, only to …

Retirement

What is a backdoor Roth IRA?

In late 2017, Congress passed the Tax Cuts and Jobs Act, changing several features of the tax code.<p>The standard deduction increased to $12,000 for individuals and $24,000 for married couples filing jointly for seniors. For high income earners, the new tax law allows a backdoor approach that enables …

Is Passive Investing Destroying the Markets?

Passive investing has been ridiculed by Wall Street for decades. The common theme is that indexing has become such a force that the market’s price …

What's the Difference Between a Pension and a 401(k)?

These two retirement plans can support you in the future, but they're vastly different, as one asks much more of you.<p>In many experts' eyes, America …

The 10 biggest tax breaks for individuals

The overhaul of the US tax code was supposed to make taxes simpler and more streamlined.<p>Nearly doubling the standard deduction was a move in that direction.<p>But the changesdid very little to reduce the number of so-called tax expenditures — a term for all credits, deductions, exemptions and …

Taxes

The Best Way to Inherit an IRA

More people are counting on inheritances as part of their financial plans. Here's how to make the most of it.<p>It's always been hard for people to save …

You Need a Budget

• <b>Author:</b> Jesse Mecham<p>Experience a life free of financial stress and transform your relationship to money with this indispensable guide—the first book based on You Need A Budget’s proven method that has helped hundreds of thousands of people break the paycheck to paycheck cycle, get out of debt, and …

8 Things You Should Know Before Coming Out of Retirement

Another source of income could help you, or it could hurt you.<p>It's becoming increasingly common for older adults to work past retirement age or come …

What's in your 401(k)? For more investors, just 1 fund

NEW YORK (AP) — More and more retirement savers have their entire 401(k) account in just a single mutual fund, and investment advisers are fine with it.<p>Last year, for the first time, more than half of Vanguard's 4.6 million retirement account participants were invested in a single target-date …

Planning for Retirement: Should You Pay Off the House Early?

The new tax law adds wrinkles for homeowners deciding whether or not to retire without a mortgage.<p>Colette Leavitt faced a difficult financial …

Clean Up Your Foreign Reporting Deficiencies Before It Is Too Late

If you still have issues with unreported foreign transactions and accounts, you don’t need a wake-up call. You need to be hit on the head with a two by four. The announcement that the IRS is closing its OVDP (Offshore Voluntary Disclosure Program) program on September 28th might have been your …

Finance

Social Security: What's the Maximum I Can Get if I Claim at 65?

If you're retiring at age 65, this is the most you can get in Social Security.<p>It used to be that Americans retired at age 65 because that's when they …