Choosing the right financial advisor can be tough. How do you know if it’s the right person (or company) to manage your life savings? It’s an important job and it pays to shop around for the best option for you and your family. Check out our advice below to see whether you should stick with your pro or find a new advisor to manage your investments. Fees One of the most talked-about aspects of financial...
If you’re like most Americans, you make the majority of your donations to charitable organizations in November and December. But as you get ready to pull out your checkbook to write that check or go online to make a donation from your favorite organization’s website, make sure to perform some due diligence; particularly if you’re considering giving to an organization for the first time. So, what should you know about the organization you are interested...
When John recently lost his wife Betty to cancer, their children were surprised to find out that neither John nor Betty had life insurance. As a result, the children ended up paying the cost of the funeral, and John, currently on a fixed income, is left contemplating whether he can afford to stay in the home they had lived in for over 25 years. An untimely death can have a major financial impact on those...
While it’s highly recommended that we use a financial advisor when we start to grow our investment portfolio, there are a lot of things you can do before you ever speak to a financial advisor to grow and maintain your investment portfolio. Investing, like everything else in life, has no guarantees, and even the hottest stock or the best tip may not always perform the way we would like. Keeping that in mind, here are...
Being financially literate in today’s economic climate is more important than ever. Understanding finances can help you make better money management decisions, budget your money properly, adequately save for college, and be financially prepared for retirement. While it may sound daunting, financial literacy starts with a budget. Today, only one third of Americans have a budget that they actively use when making financial decisions, although 75% of Americans believe you should have a budget. With...
Certified Financial Planners (CFP) can stand out from a rather crowded field of financial professionals for a variety of reasons. One of the most important reasons is that Certified Financial Planners are mandated to act as a fiduciary, meaning that they are required to put their client’s interests and needs ahead of his or her own. Another reason why CFPs stand out are the requirements necessary to become a CFP, including a Bachelor’s degree and...
As of December 2018, more than 43.7 million retired Americans collected Social Security, with more than 8 million disabled workers collecting benefits as well. But Social Security is much more than retirement income. Along with providing a small income to millions of seniors, Social Security also provides life insurance as well as survivor benefits. If you’re nearing retirement age and still have a lot of questions about Social Security, here are a few facts for...
In recent weeks, you may have heard the word recession a lot. You may even have a vague understanding of what a recession is, but would like a better understanding of what a recession really is. What the Dow Jones Industrial Average? You probably hear that every night on the news and you know that it has something to do with the stock market, but aren't sure of the details. Here are some common terms...
Do you really know how much it will cost you to sell your home? Here is a breakdown of some of those costs. Agent Commission While everyone who has ever sold a home is aware of the cost of their listing agent, many people never sit down to figure out exactly what their real estate agent is owed when their house sells. For instance, if you currently owe $200,000 on your mortgage, and your home...
Whether you’re earning a six-figure salary or just out of college, creating and maintaining a budget is a must. Having a budget that you actually use can help keep spending under control, bolster your savings account, adequately plan for retirement, and keep debt at a manageable level. Creating the budget is actually the easy part. But how do you create a budget that you’ll actually use? One of the keys is your mindset. Stop looking...
Buying a house is one of the biggest, if not the biggest purchase you’ll make in your lifetime. Here are some tips and tricks for ensuring that the entire process is as stress-free as possible. Prior to starting your search, make sure you know how much house you can afford. It’s so easy to fall in love with a particular home, only to find out that you simply cannot afford the mortgage. To buy a...
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...
