New Year’s Resolutions

Practical Prosperity

Resolutions are supposed to be your intention for the new year, not a to-do list for the first week of January that is never fully completed.  I have yet to see someone accomplish a resolution within a week.  We usually get “busy” and  stop caring about what we set out to accomplish within the first… Read More

It’s the Season to Become Wildly Prosperous!

The Mackey Advisors Way

As the weather begins to cool down, most Americans tend to venture outside again.  Trapped at slippery poolsides or in cool, dark movie theaters with artificial, icy air, for 4 months, it only makes sense that it be time for change.  The new season is also a time to become wildly prosperous and maybe even… Read More

College Board Releases 2016 Trends in College Pricing Report

The College Board has released college cost figures for the 2016/2017 college cost data in its annual Trends in College Pricing report. “Total average cost” includes tuition and fees, room and board, books, transportation, and personal expenses. Here are the highlights: Public colleges (in-state students): Tuition and fees increased an average of 2.4% to $9,650… Read More

Giving Back

The Mackey Advisors Way

We live in a world with thousands of good causes to support every day.  Whether it be a local charity, a friend down on their luck, or that adorable puppy that can’t find a home, there always has been and always will be a need for support.  Thankfully many of us are more than happy… Read More

How to Build Savings From Zero

Baby Step Your Way to Savings

reposted from: US News & World Report by: Geoff Williams | Contributor June 28, 2016   You’ve seen the numbers. They aren’t pretty. A recent Bankrate.com survey of 1,000 adults suggests that 66 million American adults have zero dollars saved for an emergency. That dovetails nicely with a report that came out earlier this year from… Read More

IRA Contributions

So instead of wasting your time trying to convince you how great they are, I would rather discuss the mechanics of how you take advantage of them. Devise a savings strategy and start the automatic saving. IRAs come in two flavors: Traditional and Roth.  Traditional IRAs are tax-deferred, i.e., money grows year-after-year without Uncle Sam… Read More

When & How to Ask for Financial Help

When is the best time to plant a tree?  Twenty years ago. When is the next best time?  Today. The same thinking applies to getting financial help. When is the best time to get financial advice?  Twenty years ago.  When is the next best time?  Today. Seriously, the answer is always earlier is better.  The… Read More

College Planning – 7 Steps to Keep Your Money & Your Sanity

Late Stage College Planning Series – 1 of 7

One of the most financially savvy gifts a parent or guardian can give their child is to send them to college. Even with student debt, the difference in a college graduate’s lifetime earnings vs that of someone with only a high school diploma is substantial. This wage difference spread over 40+ years in the work… Read More

The myRA Retirement Accounts are Now a Reality

Way back in February 2014, I penned a blog about a new option for workers whose employers did not have a workplace savings plan. It was dubbed the myRA and was designed as a starter savings account. President Obama discussed the new savings option in his State of the Union Address last year and the U.S…. Read More

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Revised One-Rollover-Per-Year Limit Applies in 2015

IRS Clarifies Rules

Background The Internal Revenue Code says that if you receive a distribution from an IRA, you can’t make a tax-free (60-day) rollover into another IRA if you’ve already completed a tax-free rollover within the previous one-year (12-month) period. The long-standing position of the IRS was that this rule applied separately to each IRA someone owns…. Read More