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Do you belong to America’s expanding population of blended families? Estate planning involves complexities for all families yet offers special challenges to blended families which demand careful attention. According to Pew Research Center millions of Americans face this estate planning issue. Through careful planning and proper guidance you can develop an estate plan that safeguards […] The post Estate Planning for Blended Families: Key Considerations appeared first on Make Money Without A Job.
Paying for college is a big deal. For most families, it requires patching together a variety of resources including family funds, scholarship, and perhaps military-related benefits like the Post 9/11 GI Bill. And how you patch those resources together will be different for every potential school, because each school will offer a different financial aid… | Read More… The post College Financial Planning Template – Free and Downloadable! appeared first on KateHorrell.
The first year after purchasing a house is the most dangerous and potentially challenging period. This is particularly true for first-time homebuyers who likely stretched their finances to achieve a 10 percent or greater down payment, leaving their liquidity quite thin. Once you’ve secured the house, you are inevitably confronted with unknowns that only become […] The post How To Survive The Most Dangerous Time After Buying A House appeared first on Financial Samurai.
For the past year, I’ve had some form of AI chatbot open almost anytime I’m working on the computer. Whether it’s ChatGPT, Gemini, or Claude, I’ve been rotating through them to help with everything from writing and coding to simulating Japanese conversations and, surprisingly, financial planning. Yep, even, financial planning. Just two years ago, AI felt hit-or-miss—sometimes helpful, sometimes hilariously wrong. But recently, the improvements have been dramatic. And in the past few weeks, I’ve used ChatGPT to help with tax planning, gain harvesting, and even mapping out Roth conversions. And this raises the big question: Should you be using AI to assist with your financial planning? Should You Be Using AI to Assist With Your Financial Planning? In my opinion, YES. Now, I wouldn’t expect to be able to hand your financial data to ChatGPT and expect it to accurately model your early retirement (see below), but I won’t be the least bit surprised when they can do that in the next year or so. In fact, AI chatbots are now so good to the point that they can accurately answer your questions and help you make faster decisions without the need for a human financial advisor. Let’s walk through a few examples, starting with something simple…I asked ChatGPT about harvesting gains: Can we talk about locking in gains? If I sell off some stock today, but then re-buy the same stock the same day, that is legal correct? It is selling off losses and rebuying that is not legal? ChatGPT then responded: Yes, you’re exactly right — selling stock to lock in gains and immediately rebuying it is legal, while selling to realize a loss and immediately rebuying it is typically disallowed due to the “wash sale” rule. Selling for a Gain (No Wash Sale Rules Apply) If you sell a stock at a gain and buy it back the same day, there’s no IRS rule preventing that. You realize the gain, it becomes part of your taxable income (short- or long-term depending on how long you held the stock). You reset your cost basis to the new purchase price. You reset the holding period for capital gains treatment. This is commonly done in tax-planning strategies to lock in a gain now (for example, if you expect your tax rate to rise later), or to rebalance your portfolio while still wanting to hold the same stock. Fantastic! Within seconds, you get excellent information to help you make a decision to lock in the gains, and it is supported by plenty of good background information – which you can of course, find online, but that is summarized up nicely here. So instead of visiting 3 different websites to find the answer and feel confident, I was able to ask it one quick question. Next up, I decided to ask ChatGPT about factoring in my IRA to ROTH conversions later this year: Ok, so it
Image Source: 123rf.com Planting flowers is one of the easiest ways to beautify your yard, but the choice between native and non-native species is an important consideration. While non-native flowers may seem appealing due to their vibrant colors and exotic appeal, they come with potential drawbacks that can impact your garden and the environment. Here are four reasons why you should rethink planting non-native flowers in your yard. 1. Non-Native Flowers Can Disrupt Local Ecosystems […]
I’ve been thinking a lot about the current state of the markets. I feel bad for the folks who are freaking out, although I can see where they’re coming from. Most of the folks in my circles tend to skew younger and they’ve had the fortune of incredible stock market performance: We’ve had a couple […] The post Everyone Has A Plan… appeared first on 1500 Days to Freedom.
Creating an investment game plan is a crucial part of building lasting wealth. Without one, you’re likely to accumulate far less over your lifetime. Now that the S&P 500 has corrected by 20% in 2025, we’ve officially entered another bear market. Whether this downturn continues, and for how long, is anyone’s guess. One reason I […] The post My Bear Market Investment Game Plan: Adjusting the Strategy appeared first on Financial Samurai.
Feeling anxious about a recession? Between high gas prices, soaring inflation, a plummeting market, and food shortages, a lot is happening in the world now. On top of that, lately, there’s been serious talks of a recession. Whether this will be your first recession, or you’re older and have experienced a few, today we’re chatting about how […] The post How to Prepare For a Recession: 15+ Practical Recession Planning Tips – Episode 114 appeared first on […]
It’s budget update time! I always look forward to going through our budget at the end of the month and planning our budget for the next month. When we look at our budget at the end of the month, we aren’t looking to see if we matched our spending up exactly with the amount we set for each budget category. This is an important difference from the way budget is often approached. The idea that […]
Want to learn how to build a better budget that help you hit your financial goals while still have money for fun now? See how you can do today! What’s the Best Budget for You? Budgets, spending plans – whatever you call them, people have strong feelings about them. Understanding your financial goals is essential […] The post What You Need to Know About Building a Better Budget appeared first on Simplify and Enjoy.
Planning a multigenerational Disney trip? Our expert Walt Disney World tips will help you make magical memories that will last a lifetime for both young and old! Going to Disney World is a family tradition our family holds dear. With memories of annual Disney trips etched in his heart, my husband grew up as a […] The post 15 Helpful Tips For Planning a Multigenerational Disney Family Vacation – Episode 191 appeared first on The […]
Looking for low-budget birthday party ideas for adults? I’ve got 15 ideas plus five bonus tips in this blog post! Birthdays—they sneak up on you, don’t they? One minute, you’re blowing out candles on your cake as a kid, and the next, you’re planning a birthday party at the last minute because you forgot how… The post Low Budget Birthday Party Ideas For Adults appeared first on Mom Money Map.
The process of saving for your dream home appears endless when you need to align your present way of life with your future objectives. But don’t worry, it’s totally possible! The key to success depends on creating a defined budget and making intelligent decisions while maintaining steady effort. The process requires dedication but your efforts will lead to success when you finally obtain the keys to your ideal home. So, how do you get from […]