- Ask an Advisor: I’m Looking for ‘a Tiebreaker’ After 2 Advisors Suggested Different Social Security Strategies. Which Advisor Should I Choose?
I’m speaking with two advisors and am looking for a tiebreaker. One advisor says to wait to take Social Security until I’m 70. The other says to take it now, taking the mindset that “a bird in the hand is better… read more…
- What Is the Adoption Tax Credit?
Every year, thousands of families in the U.S. have the pleasure of adopting a child and welcoming them into their homes. And as with any growing family, there are expenses associated. To stave off some of the costs that could… read more…
- How to Avoid Taxes on Life Insurance Proceeds
The average funeral cost in 2021 was $7,848 for a wake and burial or $6,971 for cremation. The average cost of settling an estate varies, but a complicated estate could push $5,000 with ease. And none of this is accounting for… read more…
- What Is Shrinkflation?: Financial Planning
Shrinkflation happens when manufacturers reduce the quantity or size of a product without reducing the price. Shrinkflation often crops up when inflation increases manufacturer costs or intensifying competition reduces demand. The effect is equivalent to raising prices, but it may… read more…
- Everything You Ever Wanted to Know About Inflation But Were Afraid to Ask
You know that old expression about money burning a hole in your pocket? At the current rate of inflation in 2022, it’s the money itself that’s on fire: your dollar today is worth some 8% less than it was a… read more…
- Ask an Advisor: My Child Works a Low-Paying Job. Is ‘This a Great Time’ for Them to Max Out a Roth IRA?
My child is in a low-paying job that puts them into a 0% or maybe a 10% marginal tax bracket. Isn’t this a great time for them to max out a $6,000 Roth IRA contribution? We are considering a gift… read more…
- Ask an Advisor: I’m Interested in Investing in I Bonds. But What Happens Now That the Interest Rate Has Changed?
I want to understand how I bonds work. When the interest rate changes, does that new rate apply to previous bonds – but at a different rate? -Joseph I bonds have been popular lately and for good reason. The interest… read more…
- Amid Market Downturn, This Investment Could Pay Off Big For Seniors
Debt in retirement is becoming an increasingly more important concern for workers and retirees, according to a new study on retirement confidence, with more than one-third of retirees saying their debt level is a major or minor problem. The good… read more…
- What Military Families Can Teach You About Buying Life Insurance
Whether it’s the Air Force, Space Force, Army, Navy or Coast Guard, members of the U.S. armed forces are well known for their discipline and readiness – even when it comes to life insurance. That comes through in a new survey… read more…
- This Social Security Bridge Strategy Can Help Secure Your Retirement
Most people approaching retirement plan to rely on Social Security payments for at least part of their retirement income, and they also realize that the longer they wait to claim those benefits, the bigger their monthly Social Security check will… read more…
- What Is an Indemnity Bond?
Surety bonds are instruments that create a legal obligation for one party to pay another. An indemnity bond is a specific type of surety bond that’s often used in situations where someone is borrowing money. However, you might also be… read more…
- Here’s Why Retirees Can Breathe a Sigh of Relief
Inflation is 8.3%, medical costs are up by 5.4%, the average hospital stay for Medicare patients is $13,600 and the most recent estimate is that people aged 65 will pay $315,000 for medical care during their retirement years. So what’s… read more…
- What Is the Expected Family Contribution (EFC)?
If you’re relying on federal student loans to help you pay for college, you’ll first need to complete your Free Application for Federal Student Aid (FAFSA). The information you provide on the FAFSA, including your family’s assets, will help determine… read more…
- Understanding How a Term Deposit Works
A term deposit is a deposit account held at a financial institution. The money is locked up for a specific period in exchange for an interest rate. A financial advisor can help you compare different banking options for your financial… read more…
- This May Be One of the Biggest Investment Bargains Out There
The average investor probably has never heard of unit investment trusts, let alone considered buying one. But these highly flexible closed-end investments could represent one of the biggest investment bargains on the market today. With investors taking a beating in… read more…
- 5 Things Advisors Should Know Before the Nov. 4 Marketing Rule Compliance Date
Advisors, check your calendars. The mandatory compliance date for the Securities and Exchange Commission’s investment advisor marketing rule is Nov. 4. That’s right around the corner. And for many investment professionals, that deadline matters. In fact, nearly 69% of investment… read more…
- Do You Understand Your Advisor’s Fees? Here’s What You Need to Know
A recent study out of Lending Tree has some good news and bad news for individual investors. The good news is that a healthy number of Americans either have or want a financial advisor. About 41% of people who hold… read more…
- Saving $10,000-$20,000 From Student Loan Relief? Here’s What to Do With It
Student loan relief has finally gotten the green light, and it couldn’t come at a better time. The federal student loan repayment pause will be lifted in December 2022, with payments resuming in January 2023. Making good on his campaign… read more…
- 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…