Katie Kimball Dyer

One of the most common questions I hear is:  “Katie, what’s the difference between a 401(k) and an investment?” It’s a great question and one that trips up a lot of people. The short answer: your account is not the same thing as your investment. Accounts = The Container Think of an account like a bucket. The type of bucket determines how your money is treated for tax purposes. Examples of accounts: 401(k) IRA (Traditional or Roth) Brokerage account 529 college savings plan Each bucket has its...

When Alex and Jordan first moved in together, they quickly realized that splitting rent was the easy part. Talking about credit card balances? Not so much. Like many couples, they had different money habits. One was a saver, the other a spender. Conversations about bills often turned into arguments, and both dreaded “the money talk.” But avoiding the topic only made things worse. Once they started setting aside regular time for financial check-ins, everything changed. Money stopped being a...

When I talk about investing, people often ask, “How long will it take my money to double?” It may sound like a complicated math problem, but there is  a simple rule of thumb that gives you a quick estimate: The Rule of 72. What Is the Rule of 72? The Rule of 72 is a shortcut formula that helps you figure out how long it will take your money to double at a given rate of return. Here’s how it works: Take the number 72 . Divide it by your annual rate of return. The result is roughly how many...