- Setting Long-Term Financial Goals
Financial goals come in all different forms, from setting money aside for emergencies to setting up a trust to pass your assets on at the end of your life. All financial goals are important, but long-term financial goals tend to… read more…
- Don’t Let This Estate Planning Misconception Put Your Family at Risk
Estate planning isn’t solely about protecting your financial assets. At its core, it’s about taking care of your family, friends and the causes that are important to you. Unfortunately, some key misconceptions are keeping people from making an estate plan, according to a new survey of 10,000 Americans. The No. 1 factor that holds people… read more…
- Tax Attorney vs. CPA: Which Do You Need?
A CPA, or certified public accountant, is someone who specializes in taxes and can manage the math involved with them. A tax attorney is a lawyer who knows how to review your tax decisions to see what the IRS allows. Each plays a distinct role, and there’s a good rule of thumb for choosing one: If you… read more…
- What Certifications Do Financial Advisors Need?
Financial advisors are professionals who work with clients to help them with their finances and investments. Advisors may work with clients holistically to develop broad financial plans, or they can help with a narrower focus, such as estate planning or retirement. Advisors often have certifications that indicate a certain level of expertise or area of… read more…
- What Is an ABLE Account?
ABLE accounts allow individuals with disabilities to save money using a tax-advantaged account. Congress created these accounts under the 2014 Achieving a Better Life Experience (ABLE) Act. The law aims to simplify how individuals with disabilities cover qualified expenses. Before opening an ABLE account, take time to understand how they work and who qualifies. You can… read more…
- 4 Moves to Make in Your Portfolio as Interest Rates Climb
Interest rates are on the rise. The Federal Reserve approved its first interest rate hike since late 2018 on Wednesday — and there are likely six rises coming this year. While it’s conventional wisdom that bond yields move opposite interest rates, new research from Morningstar shows why traditional portfolio diversification techniques don’t work as well… read more…
- Tax Planning for High-Net-Worth Individuals
If you have at least $1 million in investable assets like cash, stocks or mutual fund shares, congratulations: you’re a high-net-worth individual. This distinction not only means that you’re wealthy, but also that you may qualify for certain perks within the financial services industry. However, having a high net worth also comes with the unique… read more…
- How Often Should You Meet With a Financial Advisor?
Let’s say you’ve taken the first step and have already decided to speak with a financial advisor. You already know that financial planning and wealth management goals are vital to your long-term financial health, but how often are you supposed to speak with your advisor about investments and strategies? A financial advisor could help you… read more…
- Here’s Who Will Get Additional Income From Vanguard This Month
Investors with Vanguard mutual funds in their portfolios are in line to receive some extra cash later this month. The company announced Friday that extra distributions of capital gains and dividends will be paid to the shareholders of 34 different Vanguard mutual funds. The supplemental distributions are scheduled for later in March after the capital… read more…
- Fiduciary vs. Financial Advisor
When you’re looking for someone to guide you through the world of personal finance, there’s a lot of jargon you have to work through. Financial advisors and fiduciaries are just two of the titles you’re likely to come across, but… read more…
- J.P. Morgan Recommends This Guaranteed Funding Strategy to Cover Expenses
J.P. Morgan Asset Management wants you to rethink how you will pay for retirement. The multinational investment bank says retirement investors should secure enough guaranteed income from pensions, annuities and Social Security to pay for basic living expenses. These include housing, food, healthcare, property taxes, cellphone and internet service, as well as any other stable… read more…
- Should You Work With a Tax Advisor?
Most Americans have very simple tax needs. Their employer handles biweekly withholding, then every April they file for a refund or payment based on their appropriate standard deduction. However, depending on how you manage your investment portfolio, things can get a little more complex than that. If you have significant investments or other forms of income,… read more…
- Understanding Financial Risk Management
Financial risk, which is the probability of financial loss, can arise in numerous business and investment scenarios. For instance, a business can’t launch a product or service without taking on risk. However, risk also opens up opportunities in other areas of a given space. In portfolio management, there’s usually a direct correlation between risk and rewards.… read more…
- The Secret to More Peace of Mind With Your Investments
When it comes to working with an advisor to help manage your finances, there are lots of options at your disposal. Robo-advisors, for instance, are a very popular option when it comes to getting financial advice. They are often cheaper than human advisors. However, despite the benefits of using a robo-advisor, a new Vanguard study… read more…
- If Your Portfolio is Struggling, This Might Be the Culprit
Between inflation, rising interest rates and the war in Ukraine, 2022 has not been kind to investors. If you’re looking to make changes to your portfolio as volatility continues to plague markets, an international investment firm says small-cap stocks, especially those with high valuations and little or no profits, may be dragging down your overall… read more…
- This Bill Could Give You a $60,000 Tax Deduction
Americans who rely on the state and local tax (SALT) deduction at tax time may be in luck. A Democratic proposal aims to restore the SALT deduction for taxpayers who make less than $400,000 a year and increase the deduction cap for Americans who make up to $1 million. The Supporting Americans with Lower Taxes… read more…
- Want to Achieve Financial Wellness? Millennials and Gen Z-ers Should Avoid These Mistakes
While markets have boomed over the past 10 years, a recent study by PricewaterhouseCoopers shows that Millennials and Gen Z-ers have been experiencing considerable financial strain. This includes significant decreases in household income as well as difficulties paying for household expenses. As a result, people are turning to less-than-ideal methods of making ends meet, such… read more…
- Is My Financial Advisor a Fiduciary?
Before committing to a financial advisor, it helps to know whether that professional is a fiduciary. Fiduciaries must act in a client’s best interest at all times, while brokers follow a separate standard under Regulation Best Interest, which applies only when making specific recommendations. While the titles may sound interchangeable, they reflect different legal standards… read more…
- The Minimum Investment for a Financial Advisor
For some, working with a financial advisor may connote having pockets deep enough to meet with an expert in a mahogany-paneled office. But you don’t always need to be wealthy to benefit from financial advising. There are many types of… read more…
- Do I Need a Financial Planner?
A financial planner can be a powerful force for good, helping you set and reach financial goals. But do you really need a financial planner? Many people forgo the option of working with a financial planner in favor of doing research on their own, setting their own goals and managing their own finances. That means… read more…
- Is a CFP® a Fiduciary?
The financial advisory industry comprises a multitude of professionals, services and products. But when it comes to financial planning, advisors who hold the Certified Financial Planner (CFP) designation are the gold standard. These financial advisors must go through a rigorous… read more…
- CPA vs. Financial Advisor: Which Do You Need?
A certified public accountant (CPA) focuses on taxes, offering services like preparation, filing and tax strategy guidance. A financial advisor, by comparison, typically specializes in financial planning and investment management, which can also include tax planning. Some financial advisors may also hold a CPA designation, but their primary role is helping clients grow and manage… read more…
- How to Find a Certified Financial Planner (CFP)
With so many online resources to choose from, finding a financial advisor has become easier. However, there’s a lot to sift through when it comes to picking one. Every financial advisor tends to have different types of certifications, such as certified… read more…
- The 6 Best Personal Finance Courses of 2022
Financial literacy consists of having the knowledge and skills to effectively manage your personal finances. It’s a basic requirement for success in today’s world, and yet one of the least-addressed by most people’s formal education. SmartAsset has looked at the available personal finance courses for 2022 and identified some of the best in terms of… read more…
- Should You Work With a Real Estate Advisor?
Real estate advisors provide research, analysis, planning, strategy and management input when evaluating, acquiring, selling, developing, improving and financing the real estate portion of an investment portfolio. Because real estate investing can be so high-stakes, the services of one of… read more…