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Posts by Patrick Villanova:
More people than ever are using 529 plans to save for college. By the end of 2021, there were 15.7 million 529 savings accounts holding $480.3 billion, according to the College Savings Plan Network. While these tax-advantaged accounts are effective tools for meeting future education needs, a recent analysis conducted by JPMorgan Chase found that overfunding a 529 plan can result in a large tax bill if money remains in the account after the beneficiary has graduated. A financial advisor can help you plan and save for your child’s college education. Find a trusted fiduciary advisor today. Read more
Even though the median home price in the U.S. has soared to new heights, some housing markets are rising faster than others. The temperature of a housing market can heat up and cool down based on a variety of factors. Places where the population is growing faster than the development of new housing units are hotter markets, and so are cities where median incomes and home values are increasing most rapidly. Keeping these factors top-of-mind, SmartAsset analyzed data to identify and rank the top 10 rising housing markets in the U.S. Read more
Past performance does not guarantee future results. Read more
The time that follows college graduation can be an exciting period in the life of a recent graduate. This is when they enter the workforce, take on new responsibilities, and perhaps, move to a new… Read more
Transitioning from renting to buying a home is a major financial milestone. But rising prices have made home buying more challenging for millions of Americans. The Federal Reserve Bank of St. Louis… Read more
Buying low and selling high isn’t the only way to make money in the stock market. Investing in companies and mutual funds that pay out dividends to shareholders is another popular strategy that can… Read more
A poison pill is a defensive strategy used by companies seeking to fend off hostile takeovers. Also known as a shareholder rights plan, a poison pill aims to deter other companies or shareholders… Read more
Despite the perception that the COVID-19 pandemic sparked a mass migration out of cities, the data simply does not support that narrative. According to Pew Research, fewer people moved out of cities… Read more
Whether it’s a stock market crash or a string of poor investment decisions, losing your money is the worst nightmare of every investor. For investors who work with financial advisors there’s a more… Read more
No sector of higher education has been hit harder by the COVID-19 pandemic than community colleges. While enrollment across all higher education institutions fell 5.1% between fall 2019 and fall 2021… Read more
Amid an economic environment marked by inflation, single seniors are having a harder time in retirement compared to married seniors, a new survey has found. Read more
Catch-up contributions were first introduced in 2002 as a way for people to save more money for retirement starting at age 50. While the government initially permitted savers to contribute an extra … Read more
Billions of dollars are at stake each year for individual states when lawmakers in Washington D.C. negotiate the following year’s federal budget. For 2023, President Biden is calling for a 7%… Read more
How much of your income will you need to replace in retirement to maintain your current lifestyle? It’s a pivotal question and the answer will serve as a foundational piece of your plan for… Read more
Despite the vast depth of information and education available today, financial literacy isn’t improving among adults in the U.S. Read more
A common approach to retirement income relies on withdrawing money from taxable accounts first, followed by 401(k)s and IRAs, and lastly, Roth accounts. Conventional wisdom holds that withdrawing… Read more
Renewable energy will play a pivotal role in the world’s attempt to curb the effects of climate change. The landmark Paris Agreement signed by 196 countries seeks to limit global temperature rise to… Read more
In 2021, the Securities and Exchange Commission carried out thousands of audits within the financial services industry, resulting in $45 million in excessive fees and other charges being returned to… Read more
For the first time in four years, violent crime in the U.S. increased in 2020. A steep rise in murders fueled this overall uptick in violent crime, as homicides surged 22% from a year earlier,… Read more
Borrowing money from your 401(k) can seem like a fast, efficient and low-cost alternative to taking out a personal loan or a line of credit. Since you’re both the borrower and lender, repaying a 401… Read more
Since the first robo-advisors launched in the aftermath of the global financial crisis, automated financial advice has grown to a $440 billion industry. These automated online platforms use computer… Read more
While most borrowers get a 30-year mortgage and methodically pay off the loan by making regularly-scheduled monthly payments, there is another repayment option. Rather than making 12 monthly payments… Read more
Old age and a fixed income does not preclude you from getting a home loan. You may not qualify for a larger mortgage that requires more earned income, you can still get a home loan with Social… Read more
One of the most exciting – and frustrating – things about cryptocurrency is its wild volatility. While investors are often attracted to these digital currencies by their rapid and dramatic increases… Read more
We’re living in the golden age of information. The proliferation of smartphones and WiFi has meant the answer to seemingly any financial question rests at your fingertips. While the internet provides… Read more
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