Andrew Latham, Certified Financial Planner® | Source | Content Director at Supermoney.com
Andrew Latham, Certified Financial Planner®
Andrew is the Content Director for SuperMoney, a Certified Financial Planner®, and a Certified Personal Finance Counselor. He loves to geek out on financial data and translate it into actionable insights everyone can understand. His work is often cited by major publications and institutions, such as Forbes, U.S. News, Fox Business, SFGate, Realtor, Deloitte, and Business Insider.
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Supermoney.com
Content Director
started Jan 2013
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US News: When Your Adult Children Launch: What to Do With the Money You Aren’t Spending on Them
When your adult children are financially responsible for themselves, you may have more money to spend and save – here's what to do with it.
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WSJ: What Is Cash Value Life Insurance and Is It Worth It?
Cash value policies provide permanent coverage, but they can be significantly more expensive than term life insurance
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Best total stock market index funds of 2023
When you invest in a total stock market index fund, you are buying a particular slice of the stock market, not just one or a few individual stocks.
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Retirees Can Still Build Wealth: Expert Tips from Andrew Latham
Andrew advises retirees to focus on "smart asset allocation," including dividend stocks and REITs. He highlights Roth IRAs for tax-free inheritance and suggests using Qualified Charitable Distributions and Health Savings Accounts. Avoid common pitfalls like overly conservative investing and neglecting estate planning. Open family discussions about wealth transfer can prevent future conflicts. -
Top Spending Mistakes and How to Save Smarter
Andrew highlights five spending mistakes: vague cuts, crash-diet budgeting, ignoring small expenses, relying on willpower, and viewing budgeting as punishment. He advises setting clear goals, conducting financial audits, automating savings, and reframing budgets as spending plans. Andrew says, “Don’t just spend less — spend better.” -
Is the American Dream Still Within Reach for the Middle Class?
Andrew notes that while incomes have risen, "the front door got a lot more expensive." The median household earns $81K, but affording a 3-bedroom home often requires $100K+. The American Dream is still possible, but achieving it may require additional income sources.
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Who should have cash value coverage?
Permanent or cash value life insurance is a more complex and expensive form of coverage, so it’s not suitable for everyone. Generally, financial planners say that cash value policies are best for the following groups:Those who have an existing permanent policy may consider switching to term life coverage to save money. But if you have existing health issues, you may not qualify for coverage (and may be denied coverage entirely). Keeping your permanent policy may be the only way to maintain life insurance coverage.
High net-worth individuals who are looking to take advantage of tax-deferred cash value growth and tax-free death benefits for their loved ones.
Those who have trouble saving on their own
Andrew Latham, a financial planner and director of content at SuperMoney in Santa Ana, Calif., said the cash value insurance may be useful for high net-worth individuals, but it doesn’t make sense for most families.“If you’re terrible at saving or if there’s no way you’ll put [the amount of your premiums] in an investment account on your own, maybe it’s worth it,” says Latham. “But otherwise, term life insurance and investing the difference is the smarter option for most people.”
https://www.wsj.com/buyside/personal-finance/what-is-cash-value-life-insurance-a3b8f643 -
"The use of tax brackets in the United States dates back to the introduction of the modern income tax in 1913," says Andrew Latham, a certified financial planner and editor of the financial site SuperMoney. "Initially, the tax was a flat rate of 1% on income over $3,000 for single filers and $4,000 for married filers. However, the Revenue Act of 1916 introduced a graduated tax system with 14 tax brackets and rates ranging from 2% to 15%."
https://www.cbsnews.com/news/understanding-tax-brackets-what-to-know-to-maximize-your-return/ -
“A 2022 study on the employee participation in Bank of America's benefit programs showed that 58% of eligible employees participated in a 401(k) plan -- which was an improvement over previous years,” said Supermoney.com Managing Editor Andrew Latham. “Yet 61% of them contributed below $5,000 last year.”
https://www.thestreet.com/personal-finance/a-new-retirement-plan-for-millions-of-americans-ready-for-something-different
