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Financial Planning Information

Sherman Wealth Management provides you with relevant financial planning information to give you the resources you need to make informed choices. Read through our posts below and contact us to set up a free call for more information on creating a custom financial plan.

November 6, 2019

Highlights of Changes for 2020 Retirement Plan Contribution Limits

Great news for savers! The IRS announced today that taxpayers will be able to contribute $19,500 for employees who participate in 401(k), 403(b), most 457 plans and the Federal Government’s Thrift Savings Plan, up from $19,000 in 2019.  The catchup contribution limit for employees age 50 and over who participate in these plans has increased […]
November 6, 2019

Financial Literacy And Educating Youth Locally

As the United States continues to offer more and more financial education in schools, colleges, workplaces, non-profits and government agencies, only ⅓ of states actually require students to take a personal finance course in high school.  Even more alarming is the fact that less than ⅓ of adults understand three basic financial literacy topics by […]
October 29, 2019

End of Year W4 Checkup

According to a recent survey, over 80% of Americans never updated their W-4 after the 2018 TJCA, which made sweeping changes to the tax rates.  Those that never changed their withholdings may now be in a position of currently owing the IRS additional amounts, plus possible interest and penalties.     In order to ensure that […]
October 24, 2019

Options For Your 401(k) When You Leave Your Job

  According to a recent piece in Barron’s , most Americans change jobs an average of 12 times throughout their lifetime.  Many people often make rushed decisions and think they need to pack up their savings when they leave a job.  On the other hand, some people pay no attention when they move from job […]
October 17, 2019

Are you ready for a recession? A survey says probably not

JPMorgan Chase Chief Executive Jamie Dimon warned Tuesday a recession may be on the horizon thanks to the continuing trade tensions with China. “Of course there’s a recession ahead,” Dimon said during a morning call with reporters after the bank announced its third-quarter earnings. “What we don’t know is if it’s going to happen soon.  […]
October 2, 2019

HOW TO PAY FOR COLLEGE – YOUR FINANCIAL AID CHECKLIST

HOW TO PAY FOR COLLEGE – YOUR FINANCIAL AID CHECKLIST   As your child starts their search for the “perfect” college, the question of “how are we going to pay for it?” should be front and center in everyone’s mind.  Financial aid is a key factor in the college application process and it’s important to […]
September 25, 2019

5 Money Issues to Avoid

According to a recent survey, money is one of the most common reasons for both sleep loss and divorce. Financial stress not only leads to anxiety for many, but is also one of the key factors that can lead to conflicts in a relationship. Finding alignment on money matters should be a top priority in […]
July 22, 2019

CFP Delays Enforcement of Their New Fiduciary Standards

The Certified Financial Planner Board of Standards Inc. (CFP) states that their new fiduciary standards will be delayed, pushing the enforcement of these important ethics back to June 30, 2020. With this news comes questions about the quality of service people can expect from those handling their money, and what this all means to them […]
May 28, 2019

How to Plan For Summer Activities and Budget

We hope everyone had a great Memorial Day Weekend filled with fun, sun and lots of good food and pool time.  We took our kids to Washington DC to pay respects and educate them on the brave men and women that lost their lives fighting for our freedom.  As parents, lots of the chatter we’ve […]
May 9, 2019

LACK OF FINANCIAL LITERACY IN AMERICA’S SCHOOLS

“According to Money, the average millennial household “owes $14,800 in student loans.” Writer Kerri Anne Renzulli explains that while debt averages vary across each generation, people of all ages are demonstrating a greater comfort with debt. As everyone becomes more comfortable with financing and credit, there is a greater risk that accumulated debt will never […]