TheLiveBigWay® Digest: Financial Foundations

TheLiveBigWay® Digest: Financial Foundations

Financial Planning Policies for Young Adults

young adults money

While the month of April is special for many reasons, one that’s near and dear to the team at Yeske Buie is the fact that it is widely known as Financial Literacy Month. In this vein, we’d like to focus on financial tips for young people, and, in this piece, their implicit superpower when it comes to saving – their age!  Let’s dive into four actions that Yeske Buie suggests for young adults to help them best position themselves for financial success.

April Is Financial Literacy Month

At Yeske Buie, we believe that money doesn’t buy a successful life, but an understanding of money is crucial to one. And the earlier we can start imparting that understanding of money to our children, the better. To that end, we share several resources to help parents and families impart financial foundations to their children and loved ones. Happy reading!

Bond Fund Change for Smaller Accounts

Below a certain size threshold, we use our small-account model because it involves NTF (“no-transaction-fee”) mutual funds, which work well when the incremental trades tend to be small. For accounts within this range, we will be replacing the Vanguard Short-Term Bond Index Fund (VBIRX) with the Schwab Short-Term Bond Index Fund (SWSBX). The Schwab fund largely retains the same characteristics as its Vanguard counterpart – it is well-diversified and has a low average maturity and high credit quality – but it is lower cost with no transaction fees and a low expense ratio, allowing us to rebalance accounts more efficiently. If this swap applies in your account(s), you will receive an email notification when the change occurs.

See You Next Week in Virginia!

We hope to see you next week at our in-person event in Virginia. The event will be held on Thursday, April 18 from 4:00pm – 7:30pm at J. Gilbert’s Restaurant in McLean, VA, and will feature flavorful hors d’oeuvres and lively conversation with our team and other like-minded individuals in a cozy, upscale private room. If you haven’t already, please use this link to let us know whether or not you’ll be able to join us. And for those who will be attending, we’ll send more details about the event early next week. See you soon!

Save the Date 3x2

Tax Deadlines and Reminders

As we’re sure you’re well aware, the deadline to file your 2023 tax return is next Monday, April 15. Monday is also the deadline to make first quarter estimated tax payments, and serves as the last day to contribute to an IRA or HSA for the 2023 tax year. If there’s any way we can assist as the deadline nears, please don’t hesitate to contact us. And, as we do each year, we’ll be reaching out in after tax day to request a copy of your return for planning needs throughout the year – stay tuned!