- How Much Should I Have in Savings?
Saving is a good money habit to develop, especially if you don’t want to be blindsided by an unexpected expense. But you might be wondering, how much you should have in savings. When discussing emergency savings, a general rule of thumb… read more…
- Ask an Advisor: Help Me Understand the ‘Best Way’ to Manage an IRA. Is It Better to Pay Taxes Now or in Retirement?
Which is the best way to handle an individual retirement account (IRA)? Let it sit and earn money, then pay taxes on the withdrawals in retirement? Or roll it over to a Roth IRA? Should I pay the taxes now… read more…
- How to Make a Personal Savings Plan
A personal savings plan can help you reach your personal savings goals. Here are four common steps to create a plan and keep track of your goals. If you need additional help with financial planning, a financial advisor can also… read more…
- How Much Is Child Support?
When relationships end, things can get messy, even when the end is amicable. And they can get more complicated when there are children involved. On top of the time, effort and emotional toll of raising a child, there are also… read more…
- Why Advisors Are Flocking to Model Portfolios
Model portfolios are increasingly popular among financial advisors, according to research from Cerulli Associates. Advisors are turning to model portfolios for many reasons, including the fact that they may allow advisors to take on more clients while spending less time… read more…
- Separation vs. Divorce: Key Differences
Marriage is a legal institution as well as an emotional one. It has implications that range from your tax status to debt, contracts, legal rights, medical oversight and much more. So when it comes to ending that marriage, the legal… read more…
- How Much Does a Divorce Lawyer Cost?
Professional services are hard to price. Whether you’re looking for a doctor, a contractor or, yes, a lawyer, it’s difficult for customers to get a clear sense of their budget. In part, this is because professional rates range widely. One… read more…
- Can a Financial Advisor Help With Your Student Loans?
When you’re struggling with debt, a financial advisor can often help. Debt often looks far more overwhelming than it has to be. For example, you may have options you don’t realize, or might be too overwhelmed to make a good… read more…
- Why Wealthy Clients May Be Leaving Robo-Advisors for Human Advisors
U.S. investors are turning away from robo-advisors, according to a recent report. After several successive years of increasing participation in digital platforms, U.S. usage declined substantially in 2022, according to Parameter Insights, a company providing data-driven research for wealth management… read more…
- What Advisors Can Learn From the Tom Brady-Gisele Bündchen Divorce
For financial advisors, rumors of Tom Brady’s and Gisele Bündchen’s divorce can serve as a reminder of the challenges high-net-worth couples face when separating their financial lives. Conversations about asset division may be easiest broached when clients are still married… read more…
- Alimony vs. Spousal Support: Key Differences
One issue that couples often contend with during the divorce process centers on financial support. Both parties can work together to reach an agreement on alimony or spousal support or in cases of contentious divorces, a judge may decide it.… read more…
- Ask an Advisor: I’m 63, Have No Retirement Savings and Will Rely on Social Security. How Do I Begin Saving? Is It Too Late to Start Investing ‘This Late in the Game’?
I’m 63 and have zero retirement, just Social Security benefits. How can I begin saving? And where can I begin investing this late in the game? -Rita Saving for retirement is certainly easier and has a greater impact on you… read more…
- Divorce Financial Advisor: When to Hire One
Getting divorced can take a toll mentally and emotionally, but it can also upset your financial plans. Hiring a divorce financial advisor is something you might consider if you’re concerned about reaching an equitable agreement with your soon-to-be former spouse.… read more…
- What Financial Advisors Can Do for Lottery Winners
Winning a substantial sum in a state lottery unquestionably can increase a person’s independence, financially and otherwise. However, going it completely alone is rarely the wisest move after drawing a winning ticket for a large prize. Few people of ordinary… read more…
- How Much Does a Divorce Cost?
Divorces are one of life’s most challenging circumstances. They can be acrimonious, emotionally draining and expensive. Legal fees for a divorce aren’t cheap, and deciding not to hire a lawyer can cost even more, given the likelihood of mishandling self-representation… read more…
- 5 Questions to Ask a Financial Advisor in a First Meeting
Getting your finances in order can be challenging, so people often turn to financial advisors. But selecting a financial advisor whose training, experience and personality fit your preferences can be a difficult task. Here are five questions you should ask in… read more…
- How to Get a Free Divorce
Divorce can be expensive as it often involves expensive legal battles. But if you don’t have a lot of money, there are both low-cost and free options. For instance, city and state bar associations can provide legal assistance even if… read more…
- Paying Off Debt vs. Saving
Paying off debts can make it difficult to save and there’s no one-size-fits-all best way to accomplish both goals. Some advice calls for paying off all debts as soon as possible and waiting until you are debt-free to try to… read more…
- Investing Pros Point to These Barriers When Implementing ESG Policies
Investments that weigh environmental, social and governance (ESG) factors have a material impact on the investment policies of a group of recently surveyed asset owners. But hurdles remain on the road toward implementing ESG policies, respondents say in the multipart… read more…
- A Guide to Financial Advisor Compensation Models
Working with a financial advisor can help you gain a better understanding of your situation and develop a plan for making the most of your money. Financial advisor services are not free, however, and it’s important to consider what fees… read more…
- What Are Income Trusts?
While the boom-bust nature of the stock market can be profitable over the long haul, seasoned investors and risk-averse workers approaching retirement may be looking for a way to get off the roller coaster. Not every investment has the same… read more…
- Ask an Advisor: I’m Over Age 73. How Do I Avoid the RMD Tax Bite?
I’m over age 72. What can I do about avoiding the required minimum distribution (RMD) tax bite? I have a steady stream of other income. -Bernie Tax-deferred accounts, such as 401(k)s and traditional individual retirement accounts (IRAs), are potentially great… read more…
- Advisors, Your Next Job May Be Somewhere Unexpected
Attention, financial advisors: your next job opportunity in the finance industry could take on a new twist beyond work at a traditional advisory firm. Positions are increasingly available at banks and trust departments as executives look to expand their roster… read more…
- How Long Does Alimony Last?
Divorce is obviously a difficult chapter in anyone’s life. In addition to sorting out personal matters, dealing with the financial fallout of divorce is often messy. Whether you are paying alimony or receiving alimony, understanding how long alimony lasts is… read more…
- How the 529 Grandparent Loophole Works
A 529 plan can be a powerful way to save for college, offering tax-free growth and other tax benefits. These accounts are so powerful, in fact, that many grandparents choose to open them for their grandchildren. In the past, there… read more…