Articles by Lance Cothern

Lance is a licensed Certified Public Accountant (CPA) in the state of Virginia and he covers money management, budgeting, financial products, and more. He is also the founder of Money Manifesto, a personal finance blog, where he writes about his family's relationship with money. Education: B.B.A. in Accounting from James Madison University.

Raised 401(k) Distribution and Loan Limits Amid Coronavirus Photo of Lance Cothern Lance Cothern Raised 401(k) Distribution and Loan Limits Amid Coronavirus Many people may have money they’re typically not allowed to touch until... Mega Backdoor Roth IRA: How It Works Step by Step Learn how a mega backdoor Roth IRA can help boost retirement savings for high-income earners and what the strategy may look like if you opt for it. Variable Annuities: How Do They Work? Learn how variable annuities work to provide retirement income based on the performance of underlying investments and whether they make sense for you. Indexed Annuities: Comparing the Pros and Cons Photo of Lance Cothern Lance Cothern Indexed Annuities: Comparing the Pros and Cons If you’re getting close to retirement, chances are a salesperson has tried to sell... Fixed Annuities: How Do They Work? Photo of Lance Cothern Lance Cothern Fixed Annuities: How Do They Work? People looking for a stable source of income often find themselves looking into... What Age is Best for You to Take Social Security Benefits? Learn what you should consider when you're thinking about taking Social Security benefits upon retirement, including factors such as age, lifestyle, and income. Can You Buy a Life Insurance Policy for Someone Else? Find out if you can buy a life insurance policy for someone else based on any potential insurable interest you may have if that person is no longer around. The Financial Planning Guide for Parents With Special Needs Children Photo of Lance Cothern Lance Cothern The Financial Planning Guide for Parents With Special Needs Children Parents want to provide for their children so they can have a successful life.... Stock Options vs. Restricted Stock Units (RSUs): How Do They Differ? Photo of Lance Cothern Lance Cothern Stock Options vs. Restricted Stock Units (RSUs): How Do They Differ? Stock options and restricted stock units (RSUs) are both forms of equity... The Difference Between Long-Term vs. Short-Term Capital Gains Learn the difference between long-term capital gains and short-term capital gains as they are taxed differently, which affects your net profits.