Posts by Danielle Klimashousky
Mortgage Basics
What Is a Quitclaim Deed and How Does It Work?
A quitclaim deed sometimes referred to as a non-warranty deed is a document used to transfer interest in a property. Common terms utilized alongside quitclaim deeds are “grantor” and “grantee.” In this context, the grantor is the one transferring the ownership… read more…
Banking Basics
How to Get Your Bank Statement Online or By Mail
Every month, your bank prepares a document for you showing all of of your transactions for the past month. This is called a bank statement. It’s important to review your bank statement regularly – in part to ensure there aren’t… read more…
Bank Reviews & Comparisons
Ally vs. Barclays Bank
Online-only bank accounts are increasingly popular. They tend to offer better interest rates than typical banks because they don’t have to pay the costs of having brick-and-mortar locations. Two popular online banks in the U.S. are Ally Bank and Barclays… read more…
Certifications & Licenses
What Is a Chartered Life Underwriter (CLU)?
Chartered life underwriter, or CLU, is a financial services certification for financial advisors who specialize in life insurance within the context of estate planning. Although many advisors have experience with estate planning, CLUs go through rigorous training to earn this designation. The education process involves learning about risk management, insurance, annuities and more. To find a… read more…
Advisor Fees & Costs
What Are 12b-1 Fees?
12b-1 fees are annual distribution fees related to mutual funds. They are operational expenses, and they’re usually a part of a fund’s expense ratio. These fees are separate from the normal management fee and are typically for marketing expenses. In… read more…
Pensions & Other Retirement Accounts
Pension vs. Annuity: What’s the Difference?
Pensions and annuities are two common sources of retirement income. However, they are quite different with their own advantages and disadvantages. Which one is better for you will depend on your individual circumstances. For example, some people may choose a… read more…
Retirement Planning
What Is a Testamentary Trust?
As you sit down with your financial advisor to create an estate plan, one option that may arise is a testamentary trust. A testamentary trust is a type of trust that’s created in a last will and testament. Also known as… read more…
Annuities
How Do Annuities Work?
When it comes to retirement, Social Security and your 401(k) plan don’t always cover you throughout your retirement. If you’re planning for retirement, you might want to also consider opening an annuity. Annuities are long-term investments that help protect you… read more…
Advisor Basics
What Is an Investment Broker?
If you’re getting started in investing, an investment broker can be a great asset as your connection to the market. Investment brokers serve as go-betweens for buyers and sellers on the stock market. They enable their clients to purchase stocks,… read more…
Retirement Planning
What Is a Trust Fund and How Does It Work? Definition and Overview
There are many ways to set up a financially secure future for your loved ones. Trust funds, for example, can be a strong way to set your children or grandchildren up for future financial success. Also, contrary to popular opinion,… read more…
Healthcare & Living
What Is a Living Will?
A living will is often overlooked in favor of a last will, but both are important and individual documents for you to consider. A living will is a written statement that states your wishes for medical treatment in cases where… read more…
Banking Basics
What Are the Best Ways to Transfer Money Internationally?
Whether you’ll be making a number of international money transfers or it’s a one-time transaction, it’s important to know the best ways to send money internationally. Maybe you need to put down a deposit for a vacation rental, send money… read more…
How to Invest
Making an Investment Plan: A Step-by-Step Guide
Making an investment plan involves more than just choosing a few stocks to put money in. You have to consider your current financial situation and your goals for the future. It’s also important to define your timeline and how much risk you’re willing to take on in order to determine your optimal asset allocation. All… read more…
Portfolio Management
How to Diversify Your Investment Portfolio
When creating an investment plan, understanding how to diversify your portfolio is one of the most important aspects. Diversification essentially means spreading your assets among a variety of investments. Doing this helps to mitigate risk and provides the potential to improve returns. A financial advisor can help you optimize an investment strategy for your financial… read more…
Investing for Beginners
What Is an Investment Advisor?
If you need help making investment decisions and managing your portfolio, you may want to seek the advice of an investment advisor. Investment advisors are basically financial advisors that, for a fee, provide guidance and management for your investment portfolio. These individuals… read more…
Banking Basics
What Is a Prepaid Debit Card?
You’ve probably received a Visa, MasterCard or American Express gift card at some point. Or, you’ve bought one yourself. Prepaid cards can be found in the checkout line at the gas station or even in your mail as a reward… read more…
Credit Cards
Why You Should Not Buy a Credit Privacy Number (CPN)
If you’re looking to repair your credit, you may have come across websites that advertise a credit privacy number, credit protection number or CPN. These numbers are nine digits like a Social Security number (SSN), and sellers claim that you… read more…
Credit Cards
How to Pay Your Credit Card Bill
There are a lot of things to think about when you get a credit card. Aside from getting the best credit card rewards, you’ll hear about things like balance transfers, credit scores and APRs. But what about a simpler question… read more…
Other
A Guide to Investment Management Services
Investment management refers to the professional handling of a portfolio of securities, like stocks, bonds, options and more. It’s also known as asset management, money management and portfolio management. Investment managers typically buy and sell securities and other assets to achieve specified… read more…
Credit Cards
What Is a FICO Score?
When a bank or other lender runs a credit check on you, they will most likely look at your FICO score – the most widely used type of credit score – to determine your creditworthiness. According to the Fair Isaac… read more…
Retirement Planning
ETF vs. Mutual Fund: What’s the Difference?
When deciding how to invest your money, you’ll likely run into two types of funds: exchange-traded funds (EFTs) and mutual funds. But you may be wondering, ETF vs. mutual fund? What’s the difference? The two funds have a lot in common, but they are different in key ways. A financial advisor could help guide you with an… read more…
Retirement
How to Calculate Return on Investment (ROI)
One of the most important considerations when evaluating your portfolio is figuring out what the return on investment (ROI) is for all the investing choices you make. Return on investment is a ratio that represents your earnings in comparison to the costs of your investment. This number can gauge the bottom line return of an… read more…
Other
What Is the CMFC (Chartered Mutual Fund Counselor) Designation?
Are you interested in investing in mutual funds, but find them complex and overwhelming? If this is the case, it may be time to turn to an expert. A chartered mutual fund counselor (CMFC) is a financial advisor who has… read more…
Retirement
What Is the CRD (Central Registration Depository)?
If you are looking to invest money with a brokerage firm or an individual stockbroker, it is important to do your research first. Other wise, you could end up being a victim of fraud. One of the first places you should… read more…
Credit Cards
What Credit Cards Does Sam’s Club Accept?
If you’re trying to figure out what credit cards does Sam’s Club accept to make sure you bring the right one to the store, don’t worry! Sam’s Club accepts all major credit cards. A few years ago, the list of… read more…