Author Archives: Katherine Fox

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Practical Planning: Understanding 401(k) Loans

A recent survey of millennials has been making the rounds on news sites, with particular attention focused on 401(k) loans used to finance home purchases. The survey found that two in ten Millennials who plan to buy a home expect to dip into retirement accounts to fund their purchase and that three in ten who are currently homeowners have already done so.

Although 401(k) loans have some advantages, there are also several important factors to keep in mind before borrowing from your future. Read more »

Practical Planning: Review Your Withholdings for 2018

Even though we are knee-deep in the 2017 tax season, it’s not too early to start thinking about 2018 taxes. Given tax reforms in the Tax Cuts and Jobs Act, wage earners should be sure to review and, if necessary, adjust their tax withholding. You can start this process using the IRS 2018 Withholding Calculator to do a “paycheck checkup” and help you determine whether your tax withholdings are appropriate. Read more »

Practical Planning – Understanding Life Insurance

The basic purpose of life insurance is simple: upon your death, a policy will pay out a set benefit (income tax-free and occasionally estate tax-free) to your beneficiaries. When considering life insurance options, however, it can be difficult to determine the amount of coverage your family needs and to understand the terminology and costs/benefits of different policies. Read more »