Inheritances are a complicated thing. Not only are there often strings attached in the eyes of the government, unexpected taxes, and complicated bequeathments, but there are also potential conflicts within families. And not to mention the fact that the potential windfall was the result of a relative's death. Inheritances are very complicated.
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.
Business owners who have acquired a lot of personal assets face the possibility of having their assets targeted by creditors who want to resolve a business liability. This is especially true in the case of a business owner who guarantees a debt of the business with his personal assets.
Paying fees for professional investment management is something we’d all like to avoid. Why pay for some guy in a suit to manage your investments when you can do-it-yourself with a simple online brokerage account? There are many reasons to trust a professional - read on to find out whether it’s worth it to go with the pros.
Earning an income comes with taxes, and your investment incomes are no different. As your portfolio grows into retirement, it’s important to consider the difference between retirement pre-tax income and retirement after-tax income. A savvy advisor will consider your future tax liabilities to be an integral part of your overall retirement strategy.
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.
Most financial planners agree that life insurance is essential for protecting families against financial loss, which is why many recommend purchasing the maximum amount needed at the cheapest cost using a term policy. Where they start to diverge in their thinking is in any discussion about life insurance as an asset.
As if business owners didn’t have enough to contend in managing their business and personal finances, there is one particular aspect of their financial lives that is often neglected until it’s too late, and that is the management of their estate.
We’re all familiar with fitness fanatics, raving about life changing workouts guaranteed to get you into tip top shape. While there is a new fitness craze in the air, it’s time to exercise your wallet. Financial Fitness is a set of goals or programs to help you identify your financial goals, and how to get in the best financial shape of your life.
Smart-phones are less of an option these days and more of an extension of everyday life. Your phone is there for you when you need to know the weather, connect with your friends and colleagues, and when you just have to post that perfect Instagram of yesterday’s brunch.