- Financial Advisors for Young Adults
Young adults face distinct financial opportunities, including early career challenges, figuring out how best to handle student loans, renting or buying a residence, starting a retirement savings program and even having children. Investing priorities are also distinct for young adults. For… read more…
- Military Financial Advisor Services
Financial advice for members of the military can be critical. The government offers a range of specific benefits, from home loans to education, available to people who serve in the armed forces. An active duty soldier’s financial needs are very… read more…
- Can You Have More Than One Financial Advisor?
Financial advisors help people create a comprehensive plan for managing their money and reaching their goals. Different advisors can offer different services, depending on the type of clients they typically work with. Can you have more than one financial advisor?… read more…
- Emergency Funds vs. Savings Accounts
If you were to have a car breakdown or surprise medical bill, how would you pay for it? Although stuffing money in a shoebox might sound like the simplest way to create a rainy-day fund, banks offer financial tools that… read more…
- Robo-Advisors vs. Target-Date Funds
While most people understand that investing is indispensable for a comfortable retirement, where and how to invest your money can be less clear. Fortunately, more tools and services are available to the average investor than ever before. Robo-advisors and target-date… read more…
- Biden Signs $740 Billion Inflation Reduction Act. Here’s What You Could Get
President Joe Biden has signed the Inflation Reduction Act into law. This legislation aims to pay down the national debt, lower energy costs and extend affordable healthcare coverage for millions of Americans. Let’s break down what’s in the act, what you… read more…
- Ask An Advisor: Where Should I Stash Short-Term Savings?
I’m holding $300,000 in cash that I plan to put into a new home. With the market as it is, I’m putting off that purchase for six to nine months. I’m 66 years old, single and plan to retire within… read more…
- Ask An Advisor: How Do I Find a Retirement Financial Advisor?
I am interested in working with a financial planner who specializes in retirement planning. I’d prefer someone with experience and with the newer retirement planning credentials. How do I narrow down my search to those types of planners? -Mark The hunt… read more…
- 5 Things to Consider If You’re Playing the $1.02 Billion Lottery
To quote Justin Timberlake’s character in “The Social Network,” David Fincher’s modern masterpiece about the founding of Facebook: “A million dollars isn’t cool. You know what’s cool? A billion dollars.” Founding a social networking company that worms its way into… read more…
- Nominal vs. Real Interest Rate
The nominal interest rate is the simple interest charged on a loan or paid on a deposit. Real interest is nominal interest after taking inflation’s effects into account. Economists, as well as lenders and borrowers, calculate real interest to get… read more…
- What Is the Nominal Interest Rate?
The nominal interest rate may be cited in a financial institution advertisement for a loan or deposit. But nominal interest rates provide only rough estimates of how much it costs to borrow money or how much return a deposit will… read more…
- What Is a Dependent Care FSA Account?
A dependent care flexible spending arrangement (DCFSA) lets you pay for child care and other dependent expenses with pretax dollars. This can reduce the income taxes you owe. Only someone whose employer offers a DCFSA can use one. There are… read more…
- How Much Should You Have in an Emergency Fund?
Life can throw your curveballs. Whether it’s a surprise expense, sudden job loss or unexpected opportunity, having quick access to cash is key. An emergency fund protects you from the unexpected so you don’t have to go into debt. Let’s break down how much you should have for your situation and how to get started. A… read more…
- What Is a Flexible Spending Account (FSA)?
A flexible spending account (FSA) is a type of savings account typically used for healthcare expenses. Many people use an FSA to cover expected healthcare costs throughout the year, saving money on taxes because the funds are put into the FSA tax-free. Using an FSA is dependent on the individual and it isn’t right for… read more…
- What Is Private Banking?
Not everyone has the necessary wealth to access private banking. But for those who do, it augments and streamlines services for clients, offers exclusive perks and refers them to financial professionals who can address specific needs. Private banking is more… read more…
- Money Stress Is Linked to Poor Financial Wellness, Advisors Can Help
New research from T. Rowe Price shows that your level of financial stress can connect with your financial wellness. In fact, retirement plan participants who report stress related to debt are saving less for retirement than those who are not stressed. Let’s take a look at how money stress can be a sign of poor… read more…
- Fidelity Launches 2 New Ways to Invest in Alternative Assets, But There’s a Catch
Investors looking to diversify their portfolios with alternative investments have two new options courtesy of Fidelity. The financial services giant is expanding its lineup of alternative investment products with the launch of two liquid alternative mutual funds that will invest in both traditional and non-traditional asset classes. The funds, known as “liquid alts,” will rely… read more…
- Ask An Advisor: When Should I Take My First RMD?
Can I avoid getting hit with double taxes on my first two required minimum distributions (RMDs)? I’ll turn 73 in January 2024. Do I have until April 1 2024 to take my first RMD? Or do I have until April 2025? I don’t want to take my first set of RMDs in April and take… read more…
- What Is Transitory Inflation?
Transitory inflation is a term that gained wide circulation in 2021 as the initial impact of the COVID pandemic subsided and prices for many goods and services began rising steeply after several years of very low levels of inflation. Federal… read more…
- 6 Types of Savings Accounts: Which Is Best for You?
A savings account can be a good place to earn interest on your money while keeping it in an easy-to-access account. However, not every savings account is the same. Let’s compare different features from the most common types of savings accounts. A financial advisor could help you create a financial plan for your savings needs and… read more…
- What Happens to Interest Rates During a Recession?
A shrinking economy can affect you financially on a number of levels. One big question you might have is what happens to interest rates during a recession? Ordinarily, interest rates dip in the early stages of a recession in order… read more…
- Robo-Advisors vs. Financial Advisors
The world of investing is vast and complex. But technology has advanced to the point of automating many facets of your financial life. Robo-advisors can now take your financial preferences and put your money in the market according to investment… read more…
- Got a Succession Plan? Advisor M&A Deals Hit New Record
Despite market volatility and geopolitical instability in the first half of 2022, wealth management firms closed a record number of merger and acquisition (M&A) deals, according to a report from Echelon Partners. Registered investment advisor (RIA) deals have ticked upward… read more…
- All About the Stepped-Up Basis Loophole
Stepped-up basis is a tax provision that allows heirs to reduce their capital gains taxes. When someone inherits property and investments, the IRS resets the market value of these assets to their value on the date of the original owner’s… read more…
- What Is Asset-Based Long-Term Care?
Asset-based long-term care (LTC) is a financial strategy that combines traditional long-term care insurance with asset-based products like life insurance or annuities. These plans allow individuals to leverage their savings to fund potential long-term care needs while maintaining flexibility in how funds are used. Asset-based LTC solutions often provide a death benefit if care isn’t… read more…