The Inflation Paradox

The Inflation Paradox Yesterday afternoon, Federal Reserve Chairman Jerome Powell spoke at a press conference where he discussed challenges facing the U.S. economy. He labeled the rapid rise of prices for raw materials and commodities as “transitory” and he claimed they were caused by unexpected “bottlenecks” in the market. Even in the midst of claiming…

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June 2021 – Summer Budget Savings

Happy Memorial Day weekend! As we begin the summer months, I wanted to help you find some budget savings. This way, we can get to your financial goals faster. Some of the biggest budget items for most people are rent, cars, kids, and food. We aren’t going to tackle all of these immediately. However, I…

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High Energy Investments

Earlier this week, I spent several hours driving to visit my family in North Carolina. To my dismay, I was unable to buy gas at several service stations. Lines of cars idled nearby, with many fearing they might be stranded for weeks. One station attendant told me that the price of gas had risen 14…

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A New Era of Higher Taxes

Yesterday, President Joe Biden unveiled a new plan to increase capital gains taxes. A capital gains tax is a tax on the gains earned when you sell an investment. For example, if you buy a mutual fund for $1,000 and sell it for $2,000, you would earn a capital gain of $1,000. The President proposed…

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April 2021 – Financial Resourcefulness

Knowledge is power. We’ve heard that truism countless times. The reality is that knowledge is potential power. If we don’t actually do anything with it, knowledge becomes an untapped resource. Sometimes we may be stuck on our financial journey because we don’t know what to do. We feel paralyzed because we feel like we’ve tried everything…

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Maximizing Retirement Savings

One of the most important ways to save for retirement is using your employer-sponsored retirement plan. For those working in the private sector, that means saving money in your 401(K) or 403(B). For those in the military or federal civil service, that means saving in the Thrift Savings Plan (TSP). When you save in your…

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Understanding Thrift Savings Plan (TSP) Contribution Limits

The Thrift Savings Plan (TSP) offers a great opportunity for military and federal civil servants to save toward retirement. However, there are some important contribution limits to be aware of. The annual contribution limit of $19,500 applies to either the traditional or Roth TSP. The federal government matches up to 5% of basic pay for…

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Great Side-Hustle Ideas

John has a business that generates several thousand dollars a month by flipping pallets. Many industrial companies receive deliveries on wood pallets, but frequently they don’t have a good way to get rid of them. In addition, many other companies need those pallets to ship their goods. Many years ago, John needed to earn more income and the idea…

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February 2021 – Saving For Your Dreams

The recent run-up in the price of GameStop stock is both a financial news marvel and a great lesson. For those that aren’t familiar, GameStop was recently the subject of a short squeeze. This happens when investors betting the price of a stock will fall are wrong, and they are forced to buy the stock in order…

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The Rewards of Summer Camp

In July 1987, I headed to Loysville, Pennsylvania to participate in the annual week-long summer camp for Boy Scouts of America. Being a relatively new addition to Troop 87, I didn’t have a lot of seniority in our group. Everyone was a lot bigger and more experienced than I was. I thought camp would be an…

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