Financial Decisions

Navigating market volatility with dollar cost averaging

As you are well aware by now, the stock market has had some volatility these past weeks. While these shifts can increase anxiety, here at Voya we know a few things for sure. No one can predict what the market will do and when.
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2020 IRS limits for traditional and Roth IRA's

It’s a new year with transformations to both Traditional IRAs and Roth IRA contribution, income and deductible limits, tax treatments and rules. Now is a good time to familiarize yourself with these reforms and evaluate your retirement savings and tax strategies. This list is not exhaustive and the complexity for each is too much to cover here. It is for this reason, Voya recommends you consult a tax professional to discuss these changes to IRAs and its impact to your specific situation.
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Designate or update your beneficiar(ies) today

Nothing says ‘I love you’ more than asking your loved one to be my bene this Valentine’s Day. Bene is Latin for good or well. Do something good for them. When you designate or update your financial beneficiary, the one who will receive your assets after you pass on, you are essentially giving the beneficial gift of well being and that is priceless.
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Breaking Down the Basics of HSAs

Learn to use a HSA to your benefit by understanding how it is here to help you.
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Estate planning you should be doing and when you need to be doing it

After finally getting around to updating my life insurance policy since my second daughter was born, and shaming my husband into getting more organized (thank you!), I realized it was time to take a look at my broader estate plan. “Estate plan” sounds so official. Yes, there’s the big, adult-sounding things like an advance directive, will and power of attorney, but it’s also the things we need to access every day, like updated passwords, lists of accounts we use most frequently and how to access them, important contacts and other necessary details and documents organized and shared with the right people.
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After-Tax Balance Rules for Retirement Accounts

The advantage of accumulating after-tax assets in a retirement account is that when they are distributed, the amounts will be tax- and penalty-free. However, this benefit is realized only if the necessary steps are taken.
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Retirement Account: Pros and Cons of Naming a Trust as a Beneficiary

Qualified retirement savings accounts are a great way to build a retirement nest egg. But what happens to the money in the account if the account holder passes away?
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What Is the Difference Between Hedging and Speculation?

Speculators and hedgers are different terms that describe traders and investors. Learn more about the differences here.
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Uncle Sam gave you a refund? Consider these smart money moves

Many Americans often look forward to receiving a tax refund. But before splurging on a dinner out or a weekend getaway, consider these steps to put your tax refund to work this year, setting yourself and your family up for long-term financial success.
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A guide to the softer side of estate planning

There are many other important parts of an estate plan that may be forgotten along the way. Here is the "softer side" of estate planning.
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Consider making your child’s future education costs a priority

Investing in your child's education now could help prepare you for those expenses later by saving in a 529 College Savings Plan.
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5 things to consider when investing in a 401(k) plan

When you’re a young adult searching for or working in your first full-time job, retirement is likely a distant thought. However, creating good habits early can significantly affect how and when you are able to retire.
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1/3 of Americans would rather change diapers than manage finances

Managing our own money doesn't necessarily top our respective list of things we enjoy doing with our time. But doing so is easier than you might expect. Here are a few simple steps to getting on top of your finance.
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4 financial steps to consider before you start a family

Deciding to start a family is one of the most exciting and life-changing decisions a couple can make. All too often, couples get caught up in the rush to decorate and stock up on baby supplies at the expense of prioritizing essential financial planning considerations.
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Explaining financial plans and why you need one

A clear understanding of personal expenditures and savings rates is essential for securing a strong financial future. A financial plan can help everyone from the extraordinarily wealthy to those struggling to make ends meet.
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Reasons to save in a 401k or similar employer-sponsored plan

Investing in your employer sponsored retirement plan may provide an opportunity for savings.
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Baby on way? The 8 financial steps you should take to prepare

As you prepare to welcome a baby into the world, the excitement and anticipation of meeting your child for the first time can be overwhelming.
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Financial Plan = More Satisfied Customer

It’s not surprising that customers who have a financial plan tend to be more satisfied with their financial advisor than those who don’t have a plan
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How to make your income tax refund go further (infographic)

Tempted to spend your tax refund? Instead, consider putting it towards your emergency fund or saving it to pay yourself back in the future.
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