Most investors know that financial advisors can do more than just help them populate and manage an investment portfolio in preparation for retirement, set up estate plans, and value your assets and risks. But it’s often not until a client mentions a strange situation they’re in that they learn just Read more…
Higher-income investors and those who have become millionaires—with seven-figure investment accounts, excluding their primary home’s value—become known as so-called “accredited investors.” These investors can tap a variety of higher-risk, higher-reward investment opportunities unavailable to the general public. But financial advisors often caution with this warning: Just because you can invest Read more…
This 4th of July, Americans will raise a toast to our country’s democracy—and to the military members who risk their lives to protect it. While military members plot and strategize to keep civilians safe, there’s one area where they need unique assistance: Financial management and planning. For enlisted military servicemen Read more…
Whether you plan to retire at 55 or 75, the decade leading up to retirement is a critical investing and decision-making time. Lifestyle and portfolio choices made during these ten years determine how much financial comfort, personal fulfillment, leisure time and the possible “second acts” (whether that means continuing to Read more…
Women face several gender-specific obstacles when it comes to money. They may earn less than male peers (and thus have less available to save). Women typically live longer than men (meaning what they do save must stretch further). And they’re more likely than male counterparts to pause or curb careers Read more…
Self-employed workers face different risks, rewards, and challenges than their full-time counterpart--including freedom to pick and choose projects, as well as the risks of a shifting marketplace. If you’re planning to leap into the freelance economy, here’s a look at what planners and professionals in the field recommend you consider.
It takes guts to run a business--but it also takes a firm grasp on how different businesses function if you’re going to succeed as an entrepreneur. Depending on your line of work, your income projections and tax bracket, and whether you plan to take on corporate partners or hire staff (full-time or freelance), you face several choices--each with broad implications on your personal financial picture.
Real estate is practically a rite of passage in America, with home ownership easily considered a classic milestone marking adulthood and success. However, under the new Tax Cuts and Jobs Act, changes in property tax deductions may shift would-be owners’ approach to the market and existing owners deductions at tax time.
While taxes are due in April for calendar 2017, certain gestures must be made before 2017 ends. Freelancers should make sure to open retirement accounts (SEP IRA) by 12/31, even though they have until mid-April to fund them. Freelancers should also review income from 2017 to see if it’s trending higher or lower, and whether that might impact taxes. Mitigation strategies in an up year might include adding funds to a retirement account or HSA, which can help lower adjusted income.
With few exceptions, insurance is mandatory for Americans. Those who don't have a policy through work or, if self-employed, don't purchase their own policy, face tax penalties. You can open and invest in a Healthcare Savings Account (HSA) to take advantage of healthcare cost tax deductions--but doing so may require that you buy one of the more "deluxe" HSA-approved plans on the marketplace.
The reality of student loan debt is influencing many Americans’ ability to finance a home purchase, but new rules from lending overseer Fannie Mae are introducing new options for borrowers. Financial advisors say the flexibility is welcome, and that for many adults they make sense as part of a sound financial plan.
Understanding different types of debt, how credit works, refinancing student loans, ways to start responsible spending and saving habits are all part of building a successful financial future for young adults.
A death in the family, the sale of a start-up company in which you have stock, or an outsized profit on a home sale can put sudden and significant wealth into your hands. When this happens, it’s important to know what to do first. Since sudden wealth is financially complex, finding an advisor who can help navigate this is an important starting point.
"Retirement" is a loose term -- the mid-20th century idea of dismounting from a bustling career into a life of leisure no longer exists, and many adults who are "retired" continue drawing income at ages where previous generations had pulled out of the workforce.
If you’ve got adult children, should you help them financially? If you’re an adult with well-heeled parents, should you accept or resist their financial involvement? Advisors acknowledge most adults financially help their kids even after they’ve left the nest, but urge caution.
Many Americans consider tax season to be one of the most worrisome times of year--in large part because they don't know how the math will work out when they crunch the numbers on their annual return. Working with a CPA or accountant can help ease the pain--and these professionals can also provide valuable financial planning advice and business strategy so you minimize taxes owed and maximize resources.
Free and low-cost budgeting apps as well as bank and credit card tools can help savers get a handle on where their money is going.
Reverse mortgages can play a strategic role in financial planning for investors who want to age in place, or who want to postpone or take only modest withdrawals from traditional retirement accounts so as to preserve capital for themselves or heirs.
If you’ve resolved to work on your finances in 2017, better budgeting, debt repayment, a better savings habit, and re-balancing can help position you for success.
With vacations, holiday celebrations and gift buying, and family gatherings, it can be easy to neglect several gestures that could have important financial impacts on your nest egg or tax bill in the coming year. But financial advisors say that’s a mistake.
Before you start saving for a major expense, know the underlying cost. Incorporating short-term or mid-term savings goals into your existing budget will help keep you on track and prevent accrual of debt to pay for the expense.
International investing is always a popular topic. Before jumping in though, you need to answer some basic questions like, is the time right and how much, where and what you should be investing in.
Managing your money during a job transition due to a layoff, downsize or merger takes discipline. Be prepared to manage your expenses more closely, check with your advisor before tapping any retirement funds and network with peers to find temporary work while finding your next long term job. These tips tell you how.
One size does not fit all when it comes to portfolio rebalancing. Investors have different levels of risk, investment styles and financial goals depending on what life stage they are in. These are the strategies professional financial advisors use to meet your personal financial goals.