- How to Check a Financial Advisor’s Credentials
Looking for qualified financial advisors is easier in today’s world than it has been in the past. Of course, you still have to vet candidates to make sure that you are getting the right guidance for your financial needs. Many… read more…
- What States Are Paying a Fourth Stimulus Check?
There likely won’t be another stimulus check from the federal government coming anytime soon. But a number of states have approved a fourth stimulus check for their residents — welcome news amid rampant inflation. And more states could do the… read more…
- What Is a Dependent Care Assistance Program?
A sole proprietor or self-employed person can receive some of the dependent-care benefits available to employees through cafeteria plans by setting up a Dependent Care Assistance Program. These are funded entirely by the business, unlike cafeteria plans that allow employees… read more…
- Ask an Advisor: My Kids Inherited $5 Million. How Should They Handle It?
My children have inherited $5 million of stock from their father (whose estate has not yet been dispersed after 11 months) leaving them with a 30% or so loss of value over which they have had no control. Is there… read more…
- Student Loan Forgiveness May Hit You With a Heavy Tax Bill
Depending on where they live, student borrowers may soon face an unexpected tax burden. In August, the Biden Administration made news by announcing that it would forgive up to $10,000 in student debt for most borrowers and up to $20,000… read more…
- What Percent of Your Income Should Be Saved?
From buying your first home to creating college funds for children, everyone has aspirations that depend mainly on their financial capacity. While borrowing is an option for many households, saving money keeps you debt-free and financially healthy. However, saving isn’t… read more…
- What Is Disinflation?
Disinflation occurs when the rate of inflation decelerates. During disinflation, wages and prices continue to increase, but the speed of the increase is slower than it was previously. Disinflation is distinct from deflation, which happens when broad measures of wages… read more…
- How Usury Laws Regulate Loan Interest Rates
Usury laws protect borrowers in many states and some borrowers nationwide from being charged excessively high interest rates. However, state standards for excessive interest vary widely, and federal banking laws let credit card issuers, among others, charge essentially whatever the… read more…
- Ask an Advisor: I’m Losing Money on Investments. How Can My Advisor Let This Happen?
I’m constantly losing money on stock and cryptocurrency investments. And I paid for the advice that has given me the information that I’ve used to do this. For example, I was told to buy a specific stock and lost money… read more…
- Bain & Co. Identifies What Young, Affluent Clients Want From Advisors
As young investors grow their wealth, financial services firms gain a once-in-a-generation opportunity to score new business, according to a brief from management consulting firm Bain & Company. Wealth management is an important path through which to connect to this… read more…
- Using Mental Accounting in Finance
Investors value money differently based on their experiences, goals and beliefs. This process is known as mental accounting, and it often affects how we budget and spend our money. Mental accounting can also affect our investment decisions, leading us to… read more…
- Ask an Advisor: I lost My Job. Can I Tap Retirement Accounts Without Penalties?
I lost my job last year and need to take care of a parent. In doing that, I must withdraw money from my retirement. I don’t understand the tax implications and penalties. I would also like access to any savings… read more…
- How Advisors Keep Investors on Track During a Market Selloff
Retirement investors working with advisors generally displayed more disciplined investing behavior than other types of investors, according to a recent study of self-directed brokerage accounts by Charles Schwab. Investors with “advised accounts” tended to have a more diversified asset mix,… read more…
- How to Find a CFA: Financial Advisor Guide
A CFA or chartered financial analyst is a professional who offers investment advice and portfolio management. Their focus, which is on analyzing specific securities and various financial reports, is distinct from but complementary of the focus that financial planners have. All CFAs… read more…
- Commercial Banking vs. Investment Banking
Commercial banks and investment banks have similar names, but the overlap largely ends there. A commercial bank is a depository and lending institution that mainly works with business clients. Typically these firms specialize in small- and mid-sized businesses, although they can… read more…
- Unclaimed Money From Deceased Relatives
Receiving an inheritance, whether it’s expected or unexpected, can help to improve your financial outlook. But through poor oversight or lack of planning, an inheritance could be temporarily displaced. It’s possible that you may have unclaimed money from deceased relatives… read more…
- What Is a Family Trust, and How Do You Set One Up?
Trusts are used to manage estate taxes, shelter assets from creditors and pass on wealth to future generations. A family trust is a specific type of trust that families can use to create a financial legacy for years to come.… read more…
- Financial Advisors for Social Security
When it comes to getting ready for retirement, there are many questions surrounding Social Security. Some of the most important include deciding how Social Security payments will fit into your overall retirement income plan and figuring out when to start… read more…
- Americans Say $516K Needed to Achieve Financial Wellness
The key to financial wellness may be a cool half mil. Though the factors determining financial stability may be different to each investor and retirement saver, a recent Empower Retirement and Personal Capital survey found that most Americans believe it… read more…
- Here’s How Biden’s Student Loan Forgiveness Can Boost Your Retirement and Financial Stability
After many months of rumors and significant pressure from his left flank in the Democratic Party, President Joe Biden recently announced a plan to relieve the student debt pressure that many younger adults say is keeping them from achieving their… read more…
- Plan Sponsors Want These 3 Services From New Advisors, Fidelity Says
A new Fidelity survey finds that a record-high number of plan sponsors are searching for new advisors. The study, now in its 13th edition, found that 47% of sponsors were seeking new advisors, up from 34% in 2021. Sponsors noted… read more…
- Ask an Advisor: Can My New Wife Draw on Her Ex’s Social Security?
Can my new wife draw on her ex-spouse’s Social Security in any circumstance after remarrying? Specifically, during the one-year waiting period for my wife to collect on my record, can she collect on an ex-spouse’s record? Or can my wife… read more…
- Do You Need a Financial Advisor Before Buying a House?
Buying a home is one of the biggest financial decisions that a person can make. Not only can it involve taking on a big mortgage, but the monthly expenses can also affect your budget and ability to save for your… read more…
- What Is a Financial Institution?
A financial institution is an entity that engages significantly in finance-related activities. These activities include such easily recognized examples as taking deposits and making loans as well as less-obvious ones like collecting debts and keeping records of consumers’ credit histories.… read more…
- What Is a 3(38) Fiduciary?
Most tax-advantaged retirement accounts are defined by ERISA, the “Employee Retirement Income Security Act.” This statute outlines how programs like 401(k)s work, including the laws around how those accounts operate, and defines three main types of financial advisors. These are… read more…