- Here’s Why Retirees Are Sticking With Workplace Retirement Plans
Retirees are staying in defined-contribution (DC) plans long after retirement, according to T. Rowe Price. DC plans are typically tax-advantaged accounts, such as 401(k)s and 403(b)s, offered by employers. Advisors should understand why employees stay invested in these accounts years… read more…
- 10 Asset Protection Strategies
Asset protection strategies can protect investors, professionals, business owners and those with significant assets from loss due to lawsuits, creditor claims and other risks. This often involves moving assets from the owner’s personal control into various legal entities in order… read more…
- What Is Guaranteed Asset Protection (GAP)?
Guaranteed asset protection (GAP) is a type of insurance or, sometimes, a non-insurance agreement that will cover the difference between a vehicle’s actual market value and the amount owed on the loan in the event the vehicle is stolen or totaled in a crash. GAP is relatively inexpensive and can protect people who finance or… read more…
- Advice-Only Financial Advisor: Services and Fees
Financial advisors are people and services that help you create a plan for meeting your financial goals and manage it along the way. With the help of a financial advisor, you could reduce your debt, save more and invest in ways that might not have been possible if you did it on your own. However,… read more…
- Short-Term Financial Goals
Financial planning advice typically focuses on long-term goals like saving for your children’s education, building a retirement fund and estate planning. But depending on your financial situation, you may need to set short-term goals to reach those financial plan milestones.… read more…
- Is This Financial Certification Still Valuable?
The chartered financial analyst (CFA) is a certification for financial professionals demonstrating expertise in topics such as equity investments, financial statements and wealth planning. A famously hard-to-achieve credential, it carries clout in the financial services industry. But recently, fewer applicants are sitting for the CFA Level 1 exam. This may lead some professionals and investors… read more…
- How Increased Government Spending Affects Inflation
An increase in government spending is one of the factors that economists say can drive inflation. Other factors include interest rates, monetary policy, supply chain disruptions and fluctuations in demand for goods and services. Inflation can be an important consideration for investing, saving and borrowing. Let’s examine how increased government spending can affect inflation. Consulting… read more…
- How to Protect Your Assets From a Divorce
Combining finances after marriage can simplify things like paying bills and saving. But sharing commingled assets can lead to complications if you later end up divorcing. Establishing a prenuptial agreement can help you to head off tricky financial arguments if… read more…
- How Does Raising Interest Rates Help Curb Inflation?
The Federal Reserve has raised interest rates in 2022 after more than two years of keeping rates steady, at a very low level. The Fed increased the interest rate by 0.5% in March 2022 and by another 0.5% in May 2022 to cool the economy and bring inflation under control. This raises the question: How… read more…
- Grandparents and Advisors Need to Know About These 529, FAFSA Changes
State and federal tax benefits make a 529 college savings account one of the more strategic ways to save money for college. But savers should be aware: Upcoming changes to the Free Application for Federal Student Aid (FAFSA) may create a… read more…
- This Is the No. 1 Service Consumers Are Seeking From a Financial Advisor
Consumers say that retirement income planning is their top priority when seeking advice from a financial advisor. And according to 2022 research by The American College of Financial Services, seven in 10 advisors also cite retirement income planning as the top area in which they want to gain more specialized knowledge. Let’s break down how… read more…
- This 529 Plan Mistake Could Cost You Big at Tax Time
529 plans are one of the most popular ways Americans save for the college expenses of their children. As of June 2024, there were 16.8 million 529 savings accounts holding $508 billion, according to the College Savings Plan Network. While these tax-advantaged accounts are effective tools for meeting future education needs, a 2023 analysis conducted… read more…
- High-Net-Worth Divorce: Dos and Don’ts
Legally, divorce is divorce no matter how much money is involved. In practice, though, high-net-worth divorces tend to be much more complicated than ordinary breakups. Rules surrounding divorce are highly state-specific. This article will discuss issues that apply in general, but… read more…
- SMART Financial Goal Examples
Financial goals come in all shapes and sizes. Most importantly, financial goals vary widely on your unique situation. Any financial goals you set should reflect your personal goals. Setting SMART financial goals can help you make progress towards the financial… read more…
- Where Do Millionaires Keep Their Money?
Where do millionaires keep their money? High-net-worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. There were 24.5 million millionaires in the U.S. in 2022. And only 21%… read more…
- What Is a Fiduciary Financial Advisor? Definition, Types and Examples
In legal terms, a fiduciary is an individual or organization that has taken on the responsibility of acting on behalf of another person or entity with honesty and integrity. For example, bankers, attorneys and officers of public companies are all… read more…
- 529 Plans: Custodial vs. Individual Accounts
Opening a 529 college savings account can be a smart move if you’d like to save for college on a tax-advantaged basis. One thing to consider when opening a 529 plan is whether it should be a custodial or individual… read more…
- Stock Dividends vs. Cash Dividends
Buying low and selling high isn’t the only way to make money in the stock market. Investing in companies and mutual funds that pay out dividends to shareholders is another popular strategy that can grow a portfolio and generate investment income. Dividends are a way that companies and mutual funds transfer profits to shareholders, rewarding them… read more…
- Envelope Saving Method: Budgeting Guide
Choosing the right budgeting system can make it easier to stick to a monthly spending plan. The envelope saving method, also referred to as the cash envelope method or cash envelope budgeting, can help you get control over your money… read more…
- Can a Financial Advisor Steal Your Money?
Whether it’s a stock market crash or a string of poor investment decisions, losing your money is the worst nightmare of every investor. For investors who work with financial advisors there’s a more specific fear — being taken advantage of… read more…
- 23% of Adults Got Three-Quarters of Financial Literacy Questions Wrong: Can You Get Them Right?
Despite the vast depth of information and education available today, financial literacy isn’t improving among adults in the U.S. A financial advisor can help you improve your financial literacy to better understand your money. Find a fiduciary advisor today. On average,… read more…
- Financial Coach vs. Financial Advisor: Which Do You Need?
“Personal finance is personal” is a popular adage – and it’s true. We all have our unique set of knowledge, goals, and experience when it comes to our finances. When it comes to money, most of us need help in… read more…
- Looking for a Robo-Advisor? New Study Says Vanguard Is Your Best Option
Since the first robo-advisors launched in the aftermath of the global financial crisis, automated financial advice has grown to a $440 billion industry. These automated online platforms use computer algorithms instead of human advisors to build and manage investment portfolios for individual investors. While there are dozens of robo-advisor platforms on the market, they aren’t… read more…
- Guide to Investing in Crypto for the Long Term
One of the most exciting – and frustrating – things about cryptocurrency is its wild volatility. While investors are often attracted to these digital currencies by their rapid and dramatic increases in value, cryptocurrencies are also subject to sudden crashes.… read more…
- How to Build Wealth: Step-By-Step Guide
Building wealth can seem like an impossible goal, especially if you are just getting started. In the early stages, both your income and investment returns may be small, and that makes it easy to get discouraged. However, it’s important to… read more…