Articles to help you with all your financial plans, from planning your insurance coverages to your retirement to your estate.
Even if you are a natural optimist, there may be times when your financial future will seem dim to you. The cause could be as dramatic as a job loss or a medical emergency that completely upends your financial plans. It may be the sudden…
2020 and 2021 were record-breaking years for weather and climate-related disasters. From extreme heat, droughts, and floods to severe storms and wildfires, natural disasters were widespread. According to Climate.gov, in the last two years, 40+ different billion-dollar disasters occurred in the U.S. alone. Disasters and…
It’s that time of year again. You’re seeing notices or getting emails from human resources talking about the upcoming Open Enrollment period and the need to make some health care decisions. There’s information for a variety of different insurance plans and their costs available for…
Financial independence commonly creates an image of work-free leisure in people’s golden years. But in recent years, the concept of FIRE (Financial Independence/Retire Early) has inspired people to pursue the goal of financial independence before traditional retirement age. Yet early retirement isn’t necessarily the goal…
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Among the many (many) commentators in the personal finance space who write about planning for retirement, Teresa Ghilarducci is unique. She’s a professor of economics at The New School for Social Research, the Director of the Schwartz Center for Economic Policy Analysis (SCEPA), and The…
When we’re young, it’s hard to picture ourselves or our loved ones as older adults—especially older adults in need of care. But many of us will need care as we age. Once we reach our 65th birthday, we have a 70% chance of needing some…
Saving for retirement is like the Goldilocks effect. Many people don’t save enough, some save too much, and others save just enough. Yet, half of U.S. households‘ retirement savings fall short, so financial experts often encourage people to save more. But what about the other…
Homeschooling was on the rise before 2020. But the number of homeschooling families grew remarkably during the Covid-19 pandemic. Many children eventually returned to traditional school, but several continued schooling at home. The growing popularity of homeschooling has more families with school-age children considering it…
As you plan for retirement, your investment allocation is not the only thing that changes as the years pass by. In fact, the very task of retirement planning evolves over the decades. Just remember, the sooner you start saving and investing for your future the…
The CFP® Board and its many members have done a great job promoting the benefits of working with a CFP® when seeking financial guidance…and for good reason. The designation ensures that its bearer has completed a thorough education (7 courses typically require a year or…
Most people have some knowledge about the concept behind an Individual Retirement Account (IRA). What most people don’t know is there are material differences between IRAs offered by banks and credit unions and those offered by investment firms and other types of financial institutions. Since…
Pop quiz! What’s the difference between a “financial advisor,” an “investment advisor,” and a “wealth manager”? These are just a few of the job titles you may encounter in the personal finance and investing advice space. Unlike a doctor, these titles are not regulated by…
You’re busy researching your next big vacation. As you look at all your options, you notice suggestions to buy travel insurance on most trip summary pages. When you consider what you’re going to spend on a trip, coverage might make sense. This trip will cost…
As an adult, you have a responsibility to look after yourself and your best interests in all aspects of your life. When you’re a parent, you also have that same responsibility concerning your minor child or children. Every day of your life, you face challenges…
A good part of the working population in the United States has some type of retirement plan investment account. Most individuals contribute to either an employer-sponsored retirement plan like a 401(k) account or a Traditional Individual Retirement Account, known by the IRA acronym. People who…
It feels like more than ever, our world requires a college degree. Georgetown University’s Center on Education and the Workforce predicted eight years ago that by 2020, 65% of the nation’s jobs would require postsecondary education. In 2018, 70% of workers were in those jobs,…
At a time when the U.S. stock market and currency investments have become volatile and unpredictable, a conservative-minded or risk-averse individual might go in search of safer investment alternatives. In some schools of thought, U.S. Government-backed investment options might be the right place to look….
“If you don’t know where you are going, you’ll end up someplace else.” – Yogi Berra This, without question, is my favorite quote about planning. It encapsulates, as only the great baseball coach and manager could, the very first pitfall of financial planning – not…
There are many different ways to invest for long-term wealth. And investing in an individual retirement account (IRA) is an excellent choice for many people. Regular IRAs hold government-regulated investments, like traditional stocks, bonds, mutual funds, ETFs, and CDs. And these investments are an excellent…
Experiencing stress is a part of being human. We need some pressure to push us, but too much can lead to anxiety and depression. While it’s normal to feel heightened stress levels when we’re in danger, excessive strain can damage our physical health, wealth, and…
Diversification is good, right? Well, yes, it is if it’s genuinely diversification. But it doesn’t work if your idea of being diversified is having your money in many different places. These days, due to the volatility of the job market and the explosion of fintech,…
One of the best rules of thumb for retirement planning is to start saving early and never prematurely touch the money you’ve earmarked for retirement. If you’ve waited to start saving, haven’t saved enough, or have borrowed against your retirement accounts, all is not lost….
If you want to attend a university, college, or trade school but are worried about the financial burden of taking out a student loan, you might want to look into an income share agreement or ISA. It’s not surprising if you’ve never heard of an…
It’s a new year, and all thoughts eventually turn to taxes. January is the perfect time to understand last year’s tax implications and plan your strategy… for next year. Often when one thinks of how to write a smaller check (or get a larger refund)…
Getting through another year of the pandemic may be your biggest win last year. But chances are you got a lot more checked off on your to-do list than you give yourself credit for. While you look forward to 2022, you may also look back…
The holidays are a wonderful time of year. It’s also an ideal time for reviewing the past year and making plans for the next. Don’t forget about the crucial step of setting yourself up for success; establishing a financial plan for 2022. A financial plan…