Personal Finance

All Personal Finance Articles

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The burden of taxes and the importance of proper planning ease the financial burden.

When It Doesn’t Make Sense to Move to Low-Fee Funds

Cynthia from Missouri asked a question that probably crosses the mind of every investor who has ever looked at their fund’s expense ratio and winced. She told Wes Moss on a recent episode of…

Carl Sullivan · 5 months ago

A disheveled business man holds up a cardboard sign with the words Dear Boss I Quit

The “Quit Your Job” Portfolio Pays $85,000 From $1.25 Million

An $85,000 annual income sits right at the edge of what a $1.25 million portfolio can realistically deliver, but only if you’re willing to accept the tradeoffs that come with a 6.8% blended yield.…

Drew Wood · 5 months ago

A man with short dark hair and glasses wears a light blue button-up shirt and sits at a white desk. He is looking down at a stack of papers in front of him, holding one document in his hands. A silver laptop, a black mug, and a white smartphone displaying a calculator are also on the desk. In the background, there's a large window, green potted plants, and part of a yellow sofa with a patterned cushion.

Dave Ramsey Breaks Down the $8,000 Mistake: 68 Months to Break Even on an ARM

A first-time homeowner called into The Ramsey Show on April 6 with a gut feeling he had made a mistake. He had just refinanced his home the same day he called, swapping a 15-year…

Austin Smith · 5 months ago

Overhead shot of a person with short brown hair and teal-rimmed glasses, wearing a teal top and a silver-banded watch, seated at a white desk. They are holding a Form 1040 US Individual Income Tax Return for 2016 and using a black calculator with '36.5' displayed. A silver laptop showing a tax form, a silver pen, and a green potted plant are also on the desk. The scene is bright and highlights financial document review.

A Single 409A Mistake Can Trigger Taxes on Deferred Pay

Most executives who participate in non-qualified deferred compensation plans spend more time thinking about how much to defer than about the rules governing when they can get it back. That is a costly oversight.…

Gerelyn Terzo · 5 months ago

54 With $1.8 Million: Why Maxing Out Your 401(k) Comes Before a Grandchild’s College Fund

At 54 with $1.8 million saved, you are in a strong position. The gap between “strong” and “finished” is exactly what makes this disagreement worth taking seriously. Your wife wants to open a 529…

Ian Cooper · 5 months ago

Two smiling older men, both wearing aprons, stand in what appears to be a retail store. The man on the right, with gray hair and a green apron over a purple shirt, holds a black tablet and laughs heartily. The man on the left, with dark skin and a black apron over a white collared shirt, also laughs, looking towards the viewer. Colorful merchandise shelves are blurred in the background.

What $2.2 Million in Retirement Savings Really Means When You Work for Purpose, Not Paychecks

You have $2.2 million saved, your bills are covered, and you show up at a retail store twice a week because you genuinely enjoy it. Your younger colleague just had her hours cut, and…

Ian Cooper · 5 months ago

A smiling multi-generational family of five stands outdoors against a bright blue sky and ocean background. The group consists of an older man with glasses in the center, flanked by a younger woman with curly hair and a younger man. Two children, a boy and a girl, stand in front. The family is looking directly at the viewer and smiling, with a rocky shoreline and distant mountains visible behind them.

We’re 78 and Want to Use Our 2026 RMD to Treat Our Kids and Grandkids to a Vacation. How Should We Approach This?

At 78, you’ve already cleared the first Requited Monthly Distribution (RMD) hurdle years ago. The distributions are mandatory, the tax bill is coming regardless, and now you’ve decided to do something meaningful with the…

Ian Cooper · 5 months ago

A wide-angle photograph of a massive industrial pipeline extending from the right foreground over calm water, supported by pillars, towards a distant, brightly lit industrial complex. In the background, multiple smokestacks emit plumes of smoke, and various cranes and factory buildings are illuminated, reflecting on the water's surface under a warm orange and grey sunset sky.

Turn $400,000 Into $32,000 of Pipeline and Midstream Income

$400,000 invested at an 8% yield produces $32,000 a year from pipeline and midstream partnerships, roughly matching what the average American household spends on housing alone. Whether that is achievable depends entirely on which…

Drew Wood · 5 months ago

Three people are seated at a white table. A woman with long brown hair, wearing a white patterned top, holds her head in her hand with a pained expression. Next to her, a man with short brown hair, wearing a gray shirt, also looks distressed, clutching his head. Opposite them, a woman in a black blazer and white shirt, with her hair in a ponytail, points to documents on the table with a red pen. A stack of files is visible on the right side of the table.

Day Trading Cost This Couple Their Stock Gains. Here’s What Dave Ramsey Told Them

Shelley’s husband lost stock gains by pulling money out and reinvesting it, a decision that cost the family real money at the worst possible time. When she called into The Ramsey Show to explain…

Austin Smith · 5 months ago

How $600K Can Deliver a $42,000 Paycheck Without Working a Day

$42,000 a year is a number that shows up in a lot of places: a modest retirement supplement, a part-time income replacement, the gap between Social Security and what you actually spend. The question…

Drew Wood · 5 months ago

Close-up of a person wearing a red and blue plaid shirt, standing behind a shopping cart filled with white plastic bags. The person is holding and examining a long white paper receipt with both hands. The background is a blurred view of a supermarket checkout area with bright lights.

Eggs Are Down 45% but Tomatoes Are Up 22%. Your Grocery Bill Is About to Get Worse

Eggs are cheaper. Butter is cheaper. Cheese has come down. And yet something feels off every time you push a cart through the produce aisle. That instinct is correct, and economists are now explaining…

Jeremy Phillips · 5 months ago

A man and a woman are sitting on a gray couch, facing each other and arguing. The woman on the left wears a striped shirt and jeans, holding crumpled white papers in her hands and gesturing with an open mouth. The man on the right wears a denim shirt over a white t-shirt, glasses, and jeans, with both hands raised in an exasperated or defensive gesture. A laptop is visible on a table in the foreground, and a plant and bookshelf are in the background. The mood is tense and confrontational.

Married With $170K Income but Drowning in Secret Debt? Dave Ramsey Says This Changes Everything

A breadwinner earning $170,000 a year called into The Ramsey Show recently with a frustration that cuts to the heart of how money works in a marriage: her spouse keeps running up debt through…

Austin Smith · 5 months ago

A younger man wearing glasses and a light blue shirt points with a pen at a financial chart on a silver laptop screen, showing candlestick patterns and indicators. He is speaking to an older man, partially visible from the back, wearing a light-colored shirt. They are seated at a wooden table in an office setting.

The Costly Backdoor Roth Mistake High Earners Make Every Year

High earners who execute the backdoor Roth IRA correctly can still generate an unnecessary tax bill through one specific timing error. The strategy itself is sound. The execution is where the money leaks. High…

Gerelyn Terzo · 5 months ago

A man wearing glasses, a white t-shirt, and dark overalls stands waist-deep in a golden wheat field at sunset, looking intently at a black tablet he holds with both hands. A long, multi-sectioned irrigation system stretches across the field behind him, silhouetted against a sky with soft clouds and the bright, low setting sun.

Widow Who Kept Family Farm After Husband’s Death Discovers $15 Million Hidden in Debt Payoff Plan

Mary became a widow at 38 when her husband Kevin passed away, leaving her with farmland, their home, and a $1 million life insurance policy. She did not sell. She did not walk away.…

Austin Smith · 5 months ago

Smiling mature couple meeting with bank manager for investment. Mid adult woman with husband listening to businessman during meeting in conference room. Middle aged couple meeting loan advisor.

3 Red Flags to Watch for When Hiring a Financial Planner

Choosing the right financial planner can matter when it comes to your financial future, and not all advisors are created equal. While many professionals are committed to helping clients grow wealth and make smart…

Joey Frenette · 5 months ago