Tax changes are on the horizon with the "TCJA sunset". Within, we highlight how the rules are scheduled by law to change. Use our Comparison Guide and Personalized Checklist to review how your taxes might change with this major potential revision of tax law. Let's consider these changes together as opportunities to avoid reacting to them later as threats.
Nobody wants to make mistakes. And yet, we’re human; mistakes happen. Mistakes are part of life. So, here’s how to minimize the investment mistakes that matter the most, and make the most of the ones that remain. And since some misfortunes are just bad luck, here is a link to Charity Navigator's "Give Now" page, a collection of the most critical charitable issues that need a helping hand right now.
Paying taxes is part of life, but did you know that when you choose to pay them might make a difference in your tax bill, and in your quality of life? Consider these must-know facts about your taxes, especially if you owe "quarterlies" or estimated "voucher payments."
Open Window was founded 20 years ago today. Created by Joe Hollen, MD, CFP®, and led by his son, Eric Hollen, CFP®, join us in celebrating our 20th anniversary as a fee-only fiduciary—a stronghold for your family's financial journey.
Let's explore how you can maximize the benefits of your HSA to effectively manage healthcare costs during your Medicare journey, including using HSA funds to pay for certain Medicare premiums, coinsurance, deductibles, and out-of-pocket drug costs.
The negative effect of holding too much cash (or bonds) for even a short time can be profound. Missing a period of strong returns can drastically impact overall performance, as we show within.
Although yields on cash pay more than ever, don't assume your cash savings automatically receive a higher rate. Within, we help you weigh your cash bank account options, including the ideal use of checking, savings, and money market accounts for "retirees" and those "not yet retired."
An illustrated world review of capital market results in 2023, along with timeless advice for informing 2024 investment decisions.
If there is a universal investment ideal, it is probably this: Buy low and sell high. There exists an unassuming process for doing just that, called "rebalancing," but it is often overlooked for more exciting ideas.
Every year, the IRS evaluates and adjusts certain tax provisions to account for inflation. Below are the latest adjustments for the 2024 tax year - including common income, dividends, and gain tax brackets.
As winter settles in, reflect with us on sunnier times. Envision your finances as a garden—what actions would deserve your attention? Here are our four favorite items worth tending to as 2024 approaches… plus a reflection on how to make the most of the remaining year.
For those who need financial aid to pursue their dreams, here is how to proceed. The sooner you apply for the FAFSA®, the more likely your efforts will pay off.
Which specific investment ideas work, and can they be relied upon going forward? Within, we review the most important academic insights that, in aggregate, offer us a clearer pathway with which to navigate the world's daily twists and turns.
A health savings account (HSA) provides a tax-smart way to confront the growing burden of healthcare costs while providing other unique tax advantages. Here's what you need to know towards making a lifetime of health & medical expenses tax-deductible (including most Medicare expenses).
Uncover your Financial Elements with a quick, powerful, and private financial health assessment available to clients and friends at www.openwindowFS.com/financialelements.
Tax savings can be significant by targeting the “Valley of Opportunity” that appears during lower-income tax years. Life tends to present these valleys as predictable opportunities, occurring at certain times and even at specific ages. Make sure you’re prepared to act by “filling up the valley” to avoid leaving your future self, or your beneficiaries, with higher effective tax rates.
Some perspectives on the US debt ceiling: Congress has acted to raise the debt ceiling 78 distinct times since 1960. As the current drama continues, let's consider the various potential outcomes and your most advisable financial strategy.
The "4% rule" is a handy rule of thumb for estimating a safe and sustainable level of spending in retirement. Does it hold up? Let's learn more about the rule, including how to personalize it for your life.
The 80/20 rule suggests 80% of an outcome is the result of 20% of the effort put into it. In that spirit, here are three financial best practices that pack a lot of value per “pound”.
It’s important to keep your personal data safe, both on and offline. Learn some important identity theft prevention tips here.