The concept of the “traditional” American family is continually changing. The dual income family—with both spouses maintaining separate careers and contributing to the financial success of the household—has now become commonplace.
Responsible investing is widely understood as the integration of environmental, social and governance factors – hence the ESG acronym – into investment processes and decision-making. ESG factors cover a wide spectrum of issues that traditionally are not part of financial analysis, yet may have financial relevance for investor
Involving family members in your business isn’t a course of action to take lightly. If you are considering this option, it is best to approach it as seriously and professionally as you would any other business venture.
After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan ahead if you want to minimize your tax bill from the IRS.
Follow investment gurus to avoid investment mistakes. When things seem unsettled, a trio of these savants offer timeless advice you should heed.
Such words of wisdom are especially appropriate amid current turbulent circumstances: a rocky bond market that perhaps signals the end of a 30-year bull run, U.S. stocks recently hitting new highs, troubling overseas developments such as Syria’s civil war and the ongoing fight in Congress.
For many affluent individuals, occasional gifts to a favorite charity may satisfy their charitable inclinations. The added incentive of an often substantial tax deduction, coupled with various estate planning benefits, is sometimes the driving force behind such charitable gifts. However, for some individuals, philanthropy is a far more serious endeavor, often involving a succession of substantial gifts of at least $5 to $10 million that may necessitate the need for control and general oversight. In such situations, a private foundation can be an ideal mechanism for managing a large, continuous charitable giving program.
Organization, efficiency and discipline are the three primary steps of financial planning. Organization is knowing where your money comes and goes. An efficient portfolio means a better chance of profits, and discipline keeps you on the right track.
Unfortunately, the affordability of a college education is seemingly out of reach for many Americans: in-state tuition and fees at public universities have increased by a staggering 237 percent over the course of the past 20 years.1 Choosing an appropriate savings plan may make a big difference.
In 2015 the average American spent $9,990 on healthcare. Compare that figure to $146 ($1164.55 with inflation calculated) in 19601 and it’s evident that healthcare costs have increased appreciably. Fortunately, there are pre-tax programs you can utilize to help lessen the burden of healthcare expenses.
When setting expectations, it’s helpful to see the range of outcomes experienced by investors historically. For example, how often have the stock market’s annual returns actually aligned with its long-term average?
A special thanks to Birmingham City Schools Service Department for having us out to talk about Financial Wellness. We spent the morning discussing how budgets, cash flow, and debt management form the foundation for financial success.
What happens when we pass away? Depending on your spiritual and religious beliefs, there are many theories. The ancient Egyptians believed in an afterlife, and their pyramids and lavish tombs are a testament of this. Other cultures and religious sects have their own unique practices, and many make decisions with the intentions of securing an existence in the afterlife. No matter what you believe, one thing is for sure: life on earth will continue after you pass. As a result, many use estate planning tools to help ensure that what they have worked so hard for in this life will be passed on according to their wishes.
You’ve got a home improvement project slated for next spring, and you don’t plan on retiring for quite some time. What’s the harm in taking a small loan from your 401(k)? The money is just sitting there…and technically it is your money…right?
Planning for our later years, or saving to accomplish certain goals, tend to be the primary focus for many in financial planning. Equally important, we believe, is the importance of incorporating life insurance strategies into a financial plan that will address specific needs such as providing for loved ones, or ensuring a business’ continuity, if and when one is gone.
When planning for retirement, we believe that identifying the sources of income that may be available to you in retirement is critical to a secure and comfortable retirement. While some may generate income from the wealth they’ve accumulated in their 401(k) plans, others may benefit from the income provided by a pension plan or annuity. While we believe that supplemental retirement savings and income strategies are necessary for a more satisfying retirement, Social Security continues to provide a basic source of income for many in their retirement years.
A million dollars. For many, it’s an amount that conjures up thoughts of a lavish lifestyle, a comfortable retirement, and even the means to leave a legacy to one’s heirs. Indeed, a million dollars is a lot of money. In fact, $1 million in dollar bills weighs about a ton, and if one were to count that million one dollar at a time, it would take about 12 days of non-stop counting!1
Generations are formed over time as groups of individuals who have experienced many of the same political events, as well as social and economic trends. As a result, certain character traits such as their financial outlooks may vary across different generations.
According to numbers published by Nationwide in May 2016, waiting until Age 70 to begin your Social Security benefits could increase your monthly income by as much as 76% versus filing for benefits at Age 62.
Risk and return go hand in hand with investing. Risk is unavoidable. In order to generate returns, investments must carry some degree of risk. But not investing is also risky, as you take the chance of not having enough money to meet your financial goals.
You may not even know your tax identity has been stolen until you file your return. Only then do you find out that someone has already claimed a refund – in your name. This type of fraud is a serious problem, and is getting worse. Here's what you need to know
We recently surveyed a few of our clients to find out what led them to partner with an Advisor for the first time. Based on this feedback we identified four key questions to ask yourself about your financial life. Are you in any of these situations? How would you answer these questions?
Can you name an investment that acts like a stock but looks like a mutual fund?1 If you said “exchange-traded funds” (ETFs), you’re right on the money. ETFs typically consist of a “basket” of securities that mirrors a particular market index. Like stocks, ETFs trade on an exchange and can be bought or sold throughout the trading day.