Alex Assaley, AIF®

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MONEY HACKS: Are You Impacted by the Government Shutdown?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

This government shutdown is now the longest in history and seems like a “never-ending government” closure impacting hundreds of thousands of federal employees across the country and the DMV area. This kind of event is a great opportunity to remind us of the importance of emergency savings and preparing for the unexpected. We have a lot of content on MoneyNav that can help you make any necessary changes in your overall money life. If you’re a government employee or know one, we discuss a few things that can help minimize and reduce expenses while going through this difficult period. Feel free to reach out to us if we can help provide guidance on your specific situation.

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MONEY HACKS: How to Make 2019 Your Best Year yet?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

We’re officially into the last week of the year, and as many begin to make resolutions for a better future, we want to know how you will make 2019 your best year yet!  We know resolutions can sometimes come off as cheesy, but this idea of improving your life really is at the core of what we do at AFS. While you’re thinking about 2019, what are some things you can do to prepare your money for today, tomorrow, and your long-term future? This time of year is a great opportunity to look at your finances and identify any changes you want to make in your overall money life. We’ll keep rolling out these Money Hacks videos next year, so keep an eye out in 2019! 

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MONEY HACKS: Review your 401(k) / 403(b) Year-End Notices before 2019

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

As we quickly approach the holiday season, you have probably received a big envelope full of 401(k) notices (or some PDFs)! If your company has a January 1st “Plan Year”, then you were required to receive these notices by December 1.  They’re filled with important information about your organization’s retirement plan, but are usually written in “Legal-ese”. Still, take some time to read these notices to understand how your retirement plan works and if you have questions, you can reach out to our team or your HR department. 

Before moving into 2019, you should also take a few minutes and ensure your retirement plan is working for you. Are you saving the correct amount? Do you have the right investment mix for your time horizon and personal risk tolerance? Do you know if you are on track? 

Take some time to think about this stuff and make 2019 your best year yet – especially for your money!

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MONEY HACKS: Should You Worry When the Markets Decrease?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

In 2018 the financial markets have become a roller coaster ride for many investors and it can be (unnecessarily) worrisome. So what do you do when the markets become “volatile”? Our answer is always to relax… then, review what you are invested in and if that’s the best mix for your time horizon and personal risk preference. As we move into 2019, take a few minutes and ensure your 401(k), 403(b), or other investment accounts are structured the right way. This time of year is a great opportunity to look at your finances and identify any changes you want to make in your overall investment portfolio.

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MONEY HACKS: What Are You Thankful For?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

The holidays are a time to give thanks and reflect on all the good things in our lives. One of my favorite entrepreneurs and thinkers, Gary Vaynerchuk says it best - “Gratitude is everything!” Most of us think about that during Thanksgiving week and our team at AFS 401(k) is no exception. We are incredibly thankful for our clients, the employees we serve, and all of you for listening this past year. Hopefully, our guidance and content is helping you taking steps to improve your financial future. Take some time during the last month or so of 2018 and reflect on the progress you’ve made. Then, revisit your financial goals and identify the steps to your spending, saving, and managing overall cash flow that will make 2019 your best year yet. Thank you all and happy holidays!

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MONEY HACKS: What Steps Should You Take During Open Enrollment?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

As open enrollment “season” is coming into full swing, how can you prepare for the big decisions you need to make for 2019? Just a few things that are typically “on the table” for you to decide: medical benefit elections, voluntary benefits such as disability, and other employer programs – and for many of us, time to revisit our retirement plan. The IRS just announced contributions limits for 2019 and it’s looking good for folks saving in their 401(k) plan and wanting to save more. This time a year is a great time to look at your finances and identify where you should be spending, saving, and managing your overall cash flow.

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Infographic: IRS Announces 2019 Retirement Plan Limits

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

Do you know what's changing for retirement plans in 2019? The IRS has announced the 2019 plan limits and these changes will take effect in the upcoming tax year on retirement-related items.

Why are these numbers important to you? There are limits to how much you can contribute to your retirement account and they can change from year-to-year, so it's important to stay up-to-date. Check out our infographic that details all the changes you'll want to be aware of for the coming year. 

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MONEY HACKS: Are Millennials Finding Crazy Ways to Save for Retirement?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

The millennial generation is finding “new and crazy” ways to save for an early retirement. In this Forbes article, The 9 Craziest Ways These Millennials Are Saving Money To Retire Early it focuses on the growing FIRE (Financial Independence and Early Retirement) movement. While these extremes can highlight ways to stretch your savings and retire early, they might be counterproductive to the mass market of individuals and families who are trying to save for their future and make ends meet for their commitments today. In this Money Hacks video, I give a little love to the #FIRE crowd - supporting anyone that is making saving for the future a priority in their financial lives, while also highlighting the importance of balancing wise financial decisions on a daily basis.

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MONEY HACKS: Could a New Tax Legislation Help Pay Off Student Loans?

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

For many workers just entering the workforce the main area of financial concern is student debt and student loans. It causes struggles for numerous employees across the US. Earlier this year, a few new moves in tax legislation were passed adding opportunities for 529 plans. The first improvement will allow 529 plans to be used to pay for kindergarten through 12th grade for private school tuition. Later, the House will vote on also allowing homeschooling, apprenticeship fees, and most notably, student loans, to all potentially be paid for with 529 plans. In this Money Hacks video, I share some initial thoughts on what this could mean for you if you’re stressed with student loans, or paying for qualifying education programs.

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