Author - Michael J. Garry, CFP®, JD/MBA

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Don’t Retire Too Early #FIRE
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Spending a lot of Money on Sports for your Kids?
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Potential new #401k and #IRA rules? #Taxes #Retirement
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Both Spouses Need to Increase their Financial Literacy
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#Tax Refund this Year? Maybe, Maybe not

Don’t Retire Too Early #FIRE

The post Don’t Retire Too Early #FIRE appeared first on Yardley Wealth Management, LLC.

I want to talk to you today about something that may seem counter-intuitive.

I’m a financial advisor and I want people to get into great financial shape. Even though I want people to enjoy retirement, I don’t necessarily think that people should retire fully from work at a young age.

Some data shows that early retirees are at special risk for cognitive decline. Other data shows a loss of social networks. Neither of those sound like golden years.

A study from 2018 showed that men …

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Spending a lot of Money on Sports for your Kids?

The post Spending a lot of Money on Sports for your Kids? appeared first on Yardley Wealth Management, LLC.

I read a very interesting article recently about spending for school and club sports for teens and pre-teens.

Apparently, the amount that parents spend for their children on sports keeps climbing. Many spend thousands of dollars a year for their kids to play on elite teams. The goals are to get elite training and play with other really good players so they can get some sort of college scholarship.

TD Ameritrade did a survey and found that 40% of parents …

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Potential new #401k and #IRA rules? #Taxes #Retirement

The post Potential new #401k and #IRA rules? #Taxes #Retirement appeared first on Yardley Wealth Management, LLC.

There is recent breaking news on the retirement plan rules front. The House passed a bill that would change some of the rules around 401(k)s and IRAs.

It will do some nice things. The Senate still needs to pass it and the President still needs to sign it. Given how overwhelmingly the House passed it, it seems like there’s a good chance it could become law.

One change is that it would allow people to continue making IRA contributions past 70 1/2, …

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Both Spouses Need to Increase their Financial Literacy

The post Both Spouses Need to Increase their Financial Literacy appeared first on Yardley Wealth Management, LLC.

The New York Times recently ran a great article about financial literacy.

Business school professors did a study and found out that when one person handles most of the financial chores in a household, that person gets better at it. That makes intuitive sense. With anything that you practice at or do routinely, you tend to improve.

I would say from my personal experience in working with hundreds of couples and families, one person usually makes most of the decisions.

That turns …

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#Tax Refund this Year? Maybe, Maybe not

The post #Tax Refund this Year? Maybe, Maybe not appeared first on Yardley Wealth Management, LLC. There has been a lot of talk about tax refunds or the lack thereof. People are getting lower tax refunds than they used to. Sometimes they even owe money, when they never have before. The reason is fairly simple. When the government did the tax overhaul last year, they also changed the withholding schedules. Employers withheld less from their paychecks to give to the Treasury. There are a few reasons for the change. The biggest reason was to make the tax cut look… Read More

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