Fixing pensions won’t come through stock market gains. Pensions are in trouble because the amount owed to retirees is compounding faster than any returns a pension plan could earn in the stock market, or any market. An article in the Wall Street Journal spells out the story. From the article, the state of Maine has… [Read More] Fixing Pensions Won’t Come From the Market
Financial Planning Help with Mullooly Asset Management
At Mullooly Asset Management we want our clients to think of us as their personal CFO (Chief Finance Officer). We address many topics/questions that our clients ask us in this section. Financial planning is a very broad topic, some of the specific areas covered here include: saving for college, retirement savings vehicles, retirement planning, investor behavior, financial goal setting and much more.
Here are some of our most recent articles:
Is a Roth IRA Ever Tax Deductible?
No. The End. Rather than have this be the shortest blog post ever, I want to refine my answer a bit. There is no deduction for Roth IRA contributions since money goes into these accounts after-tax. But there may still be a tax benefit to making Roth IRA contributions, aside from the potential for tax-free… [Read More] Is a Roth IRA Ever Tax Deductible?
About Your Tax Refund
Is your tax refund smaller this year? Some folks are discovering their tax refund is smaller than last year, or smaller than expected. Or worse, they may owe money on taxes. “Where is the tax cut I was promised?” I discussed this recently in a thread on Twitter with Nicole Boyson, Finance Professor at Northeastern… [Read More] About Your Tax Refund
Emergency Savings
Where is your “emergency savings” sitting? The answers we’ve heard shocked us: One gentleman told us the money sitting in utility stocks was his emergency money. Good grief. Some folks have a few measly bucks socked away in a bank account, just in case. Some have confided they consider the 401k at work to be… [Read More] Emergency Savings
Inside ETFs 2019
I just got back from Hollywood, Florida where I spent the last few days at this year’s Inside ETFs conference. It was a special trip for me because this was my first chance to participate in a panel discussion. I’m incredibly grateful to the people at Inside ETFs for giving me the opportunity. Big shout… [Read More] Inside ETFs 2019
Financial Planning from the New England Patriots
The New England Patriots won their sixth Super Bowl last Sunday. As a Jets fan, each Patriots title stings more and more. However, it’s hard to deny, and hate on, their greatness over the last few decades. The Patriots defeated the Los Angeles Rams in the Super Bowl, and Rams coach Sean McVay was quick… [Read More] Financial Planning from the New England Patriots