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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Strategies for First-Gen Americans to Build Lasting Wealth
Andrew advises first-gen Americans to treat entrepreneurship as a "generational asset," blend cultural values with modern tools, and use Roth IRAs as flexible wealth hubs. By formalizing businesses, leveraging Roth IRAs for tax-free growth, and integrating cultural teamwork with financial planning, first-gen families can transform modest beginnings into substantial wealth, ensuring financial security for future generations. -
Expert Tips: Choosing the Right Mortgage Lender
Andrew advises treating lender selection as hiring a guide for a major financial decision. "Request detailed loan estimates to compare offers beyond rates," he says. A Freddie Mac study shows checking with up to five lenders can save over $6,000 in five years. Ensure lenders communicate clearly and avoid vague answers or pressure tactics for a confident, informed experience. -
CDs vs. Money Market Accounts: Expert Insights for Savers
Andrew explains, "CDs lock in rates, offering stability in a falling-rate environment, while money market accounts adjust to rising rates, providing flexibility." He advises considering liquidity, yield, and time horizon. For immediate access, money markets are ideal; for fixed timelines, CDs are better. He suggests high-yield savings accounts for safety and liquidity, and Roth IRAs for tax-free growth in longer-term goals.
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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
