Steven Marks, Financial Services Professional with Nylife Securities LLC

11/14/2023

Financial professionals share how much of your income you should save and invest for the long run, while finding the balance between comfort and lifestyle expenses.

Aiming to invest 10% of your gross annual income toward retirement is a good rule of thumb, says CFP Doug Boneparth.

11/14/2023

Most Americans saw a surge in their net worth during the pandemic, but wealth gaps remain. Here’s why.

Higher home and stock prices and unprecedented federal stimulus fueled wealth growth from 2019 to 2022, the Federal Reserve Survey of Consumer Finances found.

11/14/2023

Think it’s too early to be worried about your tax bill? Not at all. Now is the time to look closer at your investment losses and gains for the year.
https://www.eaglestrategies.com/how-offsetting-gains-work/

11/14/2023

Deferring your income to a later year can help trim your tax bill—and get you closer to your long-term goals. Learn how with these five strategies.
http://www.eaglestrategies.com/public_files/Smart_Strategies_to_Boost_Your_Savings_-_final.pdf

11/14/2023

Did you know that 1 in 12 children will experience the death of a parent or sibling by the age of 18? That’s why the New York Life Foundation in partnership with the National Alliance for Children’s Grief created Grief Reach—a grant initiative designed to empower local bereavement organizations, enabling them to expand their capabilities and extend support to grieving families in our community. Learn more here.
https://bit.ly/47v5fxV

10/13/2023

Typically, the first step to financial freedom is getting rid of debt. But if that's all you focus on, you'll miss out on saving for the future. Learn why investing while paying off debt is so important and together we can come up with a strategy that works with your budget.

Should you pay off debt before investing? Learn why it's important to pay off debt while continuing your investment strategy.

10/13/2023

After you retire, there are several factors that may cause you to want to change your investment strategy. Here are the most important things to consider when reevaluating your portfolio.

After you retire, there are usually a number of reasons why you might want to change up your investment strategy. Based on your life expectancy, your income requirements, your lack of a job and other...

10/13/2023

The U.S. Federal Reserve may increase short-term interest rates on November 1 if the upcoming data shows inflation isn’t slowing. Here’s how this may affect the economy and your finances.

The U.S. Federal Reserve will next determine short-term interest rates on November 1. That decision seems likely to be data-dependent.

10/13/2023

Mid-October is when the IRS publishes its annual inflation adjustments for the next year’s retirement account contributions limits. Here’s what retirement savers can expect in 2024.

Inflation remains above target but far lower than earlier peaks, implying a smaller 401(k) contribution limit hike.

10/02/2023

If you're a new parent, I don't have to tell you how overwhelming the first few months can feel. But what I can offer you is some budgeting advice to help you manage your finances more effectively. Read these tips and reach out if you need more help. You got this!

As a new parent, having a baby on a budget requires adjusting your finances. Use this financial advice from New York Life to help with your planning.

10/02/2023

This article explores three strategies parents can use to transfer wealth and give their children financial head starts beyond the typical direct gifting of cash.

From custodial accounts to trusts, Baby Boomers can take part in the great wealth transfer in ways that won’t burden their kids with extra taxes.

10/02/2023

Raising a child from birth to 18 now costs an average of $237,482, according to new research from LendingTree. If you’re considering starting a family, here are financial steps you can take to ease the impact when your child arrives.

Annual tab to bring up a child has surged in recent years. "It's completely understandable that people are scared to death," one expert says.