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Ask GFC 031: Can I Still Contribute to an IRA – Even if I Don’t Get a Tax Break?

Jeff Rose, CFP® | January 25, 2021 With all the talk about Roth IRAs it’s easy to forget about traditional IRAs, especially if they aren’t tax deductible. An Ask GFC reader has asked a question about this very topic: “I have contributed the maximum to my company 401K plan. Can I still contribute to an …

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What are the most popular companies in the automotive sector right now?

There are multiple ways to define the popularity of companies. Market capitalization measures the market value of a publicly traded company and is a proxy for popularity. Major auto manufacturers can be ranked by revenue or unit sales, both of which are published in quarterly and annual reports. Volkswagen Volkswagen AG, founded in 1937, is …

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Risk Management Framework (RMF): An Overview

What Is Risk Management Framework (RMF)? All companies face risk; without risk, rewards are less likely. The flip side of this is that too much risk can lead to business failure. Risk management allows a balance to be struck between taking risks and reducing them. Effective risk management can add value to any organization. In particular, …

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Why Did Warren Buffett Invest Heavily in Coca-Cola (KO) in the Late 1980s?

Warren Buffett bought more than $1 billion in Coca-Cola (KO) shares in 1988, an amount that was then equivalent to 6.2% of the company. The purchase made it the single largest position in Buffett’s Berkshire Hathaway’s portfolio at the time. It remains one of Berkshire Hathaway’s biggest holdings today. In a filing in November 2020, …

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Advanced Planning – Scenarios vs. What-Ifs

What happens once you’ve entered your client’s data into the Fact Finder and discover that the client is outliving their assets in their cash flow report? It’s time to develop a plan and make recommendations to improve their financial future. But what’s the best way to show your clients the impact your recommendations (and their …

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Understanding Lender-Required Flood Insurance

“Just a few inches of water from a flood can cause tens of thousands of dollars in damage,” according to the National Flood Insurance Program. This fact sums up why mortgage lenders sometimes require borrowers to buy flood insurance. However, real estate agents and mortgage lenders often don’t tell customers about flood insurance requirements until …

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What Is the Difference Between Communism and Socialism?

Communism and socialism are umbrella terms referring to two cooperative schools of economic thought, both apparently antithetical to capitalism. These economic ideologies have inspired various social and political movements since at least the 18th century. Several countries have been or are currently governed by parties calling themselves “communist” or “socialist,” though these parties’ policies and …

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