MKR Blog
The Federal Reserve reports that 26% of working Americans have no retirement savings. And among the working Americans who have retirement investment funds, 45% feel that their savings projections fall short of their long-term goals. If you’re a late retirement...
Setting goals is a necessary start to achieving a financially secure future, but sticking to those goals is another hurdle altogether. Unexpected expenses, the costs of day-to-day life, and failure to track spending all have the potential to derail any roadmap we may...
One of the easiest ways to start saving for retirement is through a Roth IRA, and some would say it’s the smartest move a beginner saver can make. A Roth IRA could be a better choice than a 401(k) or a traditional IRA for a few key reasons. Roth IRA: A Primer A Roth...
The COVID-19 pandemic has been more than a health crisis—it’s been a financial crisis as well. Business closures, job loss, reduced hours, and limited financial relief led to many savings accounts taking a major hit. As a result, more than 2 million Americans took...
The beginning of a new year has long been associated with starting from a blank slate and setting new goals for the year ahead. While 2020 taught us that plans and goals can quickly veer off course through no fault of our own, maybe 2021 can teach us the value of...
More Americans are turning to a 401(k) hardship withdrawal to cover urgent and unexpected expenses. By the end of 2024, about 5% of employees had taken a hardship withdrawal from their 401(k) accounts. That’s more than double the 2% who did so in 2018. With inflation,...
When the federal government shuts down, businesses across the nation feel the effects, especially for those that rely on federal programs, work directly with federal agencies, or operate near government properties. This article explains how government shutdowns affect...
When the Federal Reserve cuts interest rates, it’s good news for borrowers and consumers, but not so much for savers. The Fed’s recent quarter-point rate cut is a reminder that the annual percentage yields (APYs) on savings accounts and certificates of deposit (CDs)...
A recent deal between the Trump administration and Pfizer is signaling hope to the pharmaceutical industry. Under Trump's Pfizer deal, Pfizer gets an exemption from pharmaceutical-specific tariffs if the company invests in domestic manufacturing. This key deal is...
President Trump’s One Big Beautiful Bill (OBBB) introduced several tax changes designed to boost take-home pay and simplify the tax code. Some major adjustments include nontaxable income, gift limits, estate tax exemption, and overtime deductions. Here’s a look at...
Economies always run in cycles, which means that, at some point, inevitably, there will be a downturn. And the best time to prepare for an economic downturn is before things start to take a tumble. In this article, we’ll go over strategies you can use to keep your...
What happens when it’s time to step back from running your professional services firm? Is there a clear path for the future of your business? In this article, we’ll go over how to create a solid succession plan, whether you’re looking to sell, merge, or pass the firm...
The One Big Beautiful Bill (OBBB) signed by President Trump includes a federal cap on the state and local tax (SALT). Until 2024, SALT was capped at $10,000 under the 2017 Tax Cuts and Jobs Act (TCJA), but the OBBB increased it to $40,000. The cap will rise by 1% each...
Small businesses are finally seeing signs of life after a rocky few years. Since January, average earnings have climbed by 75%. That’s an encouraging statistic, yet monthly revenues still lag behind the record highs of the past two years. This signals that progress is...
Recent surveys reveal that Americans spend hours each week thinking about their finances. Rising prices, mounting debt, and uncertainty about the future all contribute to financial stress. Add in steep housing costs, concerns over tariffs raising the price of goods,...