Blog
Why I became a financial advisor
by Fatima Iqbal, CFP® I’ve always been a planner. My earliest memory of creating a plan was coming home from school in the 2nd grade after a fire escape drill. My family had moved into a new house and I sketched out an escape plan on a sheet of paper, carefully assessing possible emergency scenarios and drawing out primary and back up routes. Some of my escape routes were undoubtedly ambitious (could my little legs really jump out the window?), but having the map taped on the back of the bedroom door meant we were prepared no matter the danger. In college, I
How to Boost your Retirement Savings
For many of us, a trip to the grocery store is a constant reminder of how much inflation keeps creeping into our pocketbooks. Add taxes, market volatility, and the rising costs of healthcare and it’s no wonder nearly 75% of us are feeling anxious or even overwhelmed when we think about our retirement savings.* Fortunately, when it comes to taxes, you don’t have to feel powerless. By planning now, you can design a tax efficient plan and feel more confident about reaching your goals. There are basically three types of accounts in which you can grow your savings. Two types
How to ask your employer for halal 401(K) investment options
One of the first decisions you’ll need to make after accepting a job offer is deciding how you’ll invest your employer plan. These plans are generally funded with pre-tax money and, in many cases, your employer will match your contributions. That’s essentially free money. But most plan providers will offer you a limited menu of investments. Some may have a few socially responsible options, but it’s highly unlikely you’ll find a halal mutual fund. So, what are your options? Ask your plan provider if your plan has a self-directed brokerage account. It’s essentially a sub-account within your 401(k). As employees
What You Should Know About Required Minimum Distributions (RMDs)
What are RMDs? At some point, the government wants you to start spending your tax-sheltered retirement savings, or at least pay taxes on the income. That’s why it requires you to withdraw minimum payments annually from your traditional IRAs and employer-sponsored retirement plans after you reach a certain age. These are referred to as RMDs or required minimum distributions. Congress has passed significant changes related to these distributions in what’s known as the SECURE Act and its successor, SECURE Act 2.0. This legislation modifies several rules related to distributions from retirement accounts. When must RMDs be taken? The new rules
Latest Blog Posts
Why I became a financial advisor
How to Boost your Retirement Savings
What You Should Know About Required Minimum Distributions (RMDs)
What you need to know when choosing a beneficiary
5 Financial Resolutions to Start 2023 on the Right Foot
FTX – Lessons Learned from a Lack of Due Diligence
SECURE Act 2.0: What You Need to Know
Five Most Overlooked Tax Deductions
