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Acumen Wealth Advisors

17 Nov 2017

When You Should — and Shouldn’t — Tap Your Roth IRA

Most retirement accounts are for one purpose: The money goes in and stays in until retirement — specifically, until the investor turns 59 1/2. Pull it out early and you’ll have to pay taxes and penalties. Understandably, that lengthy lockdown doesn’t always sit well with younger investors. Sure, you may not need that money now, but there could be plenty of future circumstances in which you might. Having thousands of dollars stashed behind bars won’t bail you out of a job […]

13 Nov 2017

5 Habits That’ll Keep You From Getting Rich

This original article was written by Markets Motley Fool We all want to accumulate wealth, either during our careers or in time for retirement. However, countless Americans wind up sabotaging their efforts by repeating the same critical errors. Here are just a few of the habits that’ll prevent you from amassing your fortune. Continue Reading Below 1. Gambling Though gambling is illegal in some parts of the country, many folks have no trouble accessing casinos, be it online or through travel. […]

09 Nov 2017

Six Charts that Help Explain the Republican Tax Plan

This original article was written by ALICIA PARLAPIANO for the New York Time. You can see the full interactive article here.  House Republicans released a bill on Thursday that would make major changes to the tax code. Some key elements of the proposal: Lower Rates for Households The bill would reduce the current marginal income tax brackets to four from seven — 12, 25, 35 and 39.6 percent — and lower taxes by increasing the income ranges affected by each rate. The […]

06 Nov 2017

Acumen Wealth hosts Empower Women PAC’s Launch

Acumen was honored to host Empower Women PAC’s soft launch and have such a great turnout!  Empower Women is a non-partisan political action committee aimed at increasing the number of women running for elected positions in the Chattanooga area.  The PAC is passionate about soliciting highly qualified women and supports efforts in numerous ways including campaign workshops, meals, and childcare.

02 Nov 2017

If Cash Is Your Only Savings Strategy, You’re Losing Money

This original article was written by Kristin Wong for LifeHack. Investing isn’t as hard (or as risky) as it seems, but it’s a lot of information and it does take some time to learn, which turns many people off of it altogether. However, if you’ve been putting it off and you have a hefty amount of cash savings, consider the problem of inflation. According to a BlackRock survey, 58% of Americans hold their assets in cash, and all of that cash is […]

29 Oct 2017

Here are the most common financial mistakes Americans make, and how to avoid them

This original article was written by Matthew Frankel, The Motley Fool and appeared in USAToday   Only one-fifth of American adults say they have no financial regrets whatsoever, and 73% say that they regret making one of six specific financial mistakes, according to a new survey. Here’s what money mistakes Americans regret, and how to prevent the regrets of other Americans from becoming your own. Americans’ financial regrets Just 20% of American adults said they have no financial regrets at all, in […]

24 Oct 2017

Here Are the New 401(k) and IRA Contribution Limits for 2018

This original article was for Time.com  by Jennifer Calfas. Workers can stash away $500 more in their 401(k)s next year. The IRS announced Thursday that it was increasing the 401(k) contribution limit from $18,000 to $18,500 — the first jump in that ceiling since 2015. The new limits, announced Thursday, also apply to 403(b)s, the majority of 457 plans and the federal government Thrift Savings Plan for 2018. The feds didn’t change the limit for catch-up contributions for employees ages 50 and […]

23 Oct 2017

Market Insights

We hope you and your family are doing well and want to thank all our clients for our firm’s continued success. Several items in this quarterly review are worth noting. We appreciate you taking the time to review this information and hope you find it valuable.   Economic Update – The economy is expanding as we head into fall. As a matter of fact, fresh pumpkin sales reached $121 million last year, a 5% increase from the year before (Source: […]

18 Oct 2017

5 Financial Mistakes Most Employees Make When Starting a New Job

This original article was written by John Rampton for  Entrepreneur.  It’s easy to get excited about the opportunities that come with a new job. The job comes with a paycheck — and sometimes even a much bigger one than you have had before. However, it’s easier than you think to make some financial mistakes when the prospect of a paycheck is right in front of you. Here are five common financial mistakes that include a few errors I once made myself, but now know better: […]

14 Oct 2017

How Tax Reform Could Impact Portfolios

Stocks continue to rally while no major legislative accomplishments come out of Washington D.C. Markets prefer gridlock over sweeping policy changes, particularly changes that affect property rights, so this is no surprise. Really, the fact that no major legislation has passed is a positive economic event in and of itself. However, the calculus changes when it comes to tax reform as compromise could occur in this area. If so, major winners could emerge with a streamlined tax code that lowers […]