- What Is a Land Trust, and Who Needs One?
Trusts can be used as an estate planning tool if you need more than just a will to manage your assets. A land trust is a specific type of trust related to real estate. This is a type of living… read more…
- How to Disclaim an Inheritance (And Why You Would)
Receiving an inheritance can provide a financial windfall, but there are some scenarios where you may prefer not to receive one. In that case, you might be wondering if it’s possible to decline an inheritance and the responsibilities that go… read more…
- Money Market Funds vs. Money Market Accounts
When deciding where to save and invest, your choices will depend on your goals, time frame for saving and risk tolerance. A money market fund is one option; a money market account is another. While they sound similar, they actually… read more…
- How to Retire in Guatemala: Costs, Visas and More
If you’ve thought about retiring in Central America, you’ve likely learned plenty about Costa Rica and Panama, two popular destinations for ex-pat retirees. However, their neighbor Guatemala, the Mayan heartland of Central America, is another attractive retirement destination in the region. Guatemala’s beautiful landscapes include Lake Atitlan, a lake created by a massive volcanic crater,… read more…
- Fiduciary Duties in Trusts and Estate Planning
As you plan how you will leave your estate, it’s important to your family’s future that you leave a legacy with well-executed documents. It’s also essential that you understand all of the roles of the people involved in your estate,… read more…
- Understanding Lagging and Leading Indicators
They say that hindsight is 20/20. There’s also an old joke that economists have predicted nine of the last five recessions. These two sayings encapsulate, respectively, the concepts of “lagging” and “leading” indicators – the two key categories of data… read more…
- What is a Tax Cliff?
A tax cliff happens when a small increase to your income triggers an increase in your tax bill. Personal income taxes increase gradually as a proportion of income; even if your income increases to the point that you enter a new… read more…
- Balanced Funds: Definition and Investing Options
Mutual funds can offer a simplified way to diversify your portfolio. Rather than picking individual stocks, bonds or other securities to invest in, you can gain exposure to multiple investments and asset classes using a single mutual fund. A balanced… read more…
- Financial Planning for the Sandwich Generation
Being part of the sandwich generation – meaning you’re caring for aging parents while also raising children – can create unique challenges in shaping your financial plan. You may be trying to balance the financial goals and needs of your… read more…
- Income Based Repayment Plans for Student Loans
Many people graduate from colleges in the United States with debt. According to EducationData.org, the average 2020 student loan debt was $32,731 per graduate. This means that many people are paying over $400 per month on their student loan debt… read more…
- What Is a Retirement Management Advisor?
There are many certifications for financial professionals. Each one specifies a distinct type of service that an advisor is qualified to offer. A retirement management advisor (RMA) is one such designation. You may consider working with this financial advisor when you need guidance and help in creating a personalized retirement income plan. Here’s what you need… read more…
- Cash Flow Management for Businesses
Cash flow describes how money flows into and out of a business. It covers a specific time period, such as a month or quarter. Managing cash flow is crucial for both individuals and businesses. Even highly profitable businesses can fail if they don’t manage cash properly. Here are the basic principles and techniques for effective… read more…
- PEG Ratio: Definition, Calculation and Usage
A PEG ratio is a tool used in fundamental stock analysis by investors to assess a share’s value. It measures a stock’s price-to-earnings ratio against the anticipated earnings growth for the underlying company. If the ratio is significantly above 1, the stock might… read more…
- Buying to Cover: Definition and Examples
The phrase “buying to cover” describes the final step in an investment tactic, known as short selling, that seeks to profit from a bearish market. Investors who believe a security or index is going to decline can turn a profit – provided… read more…
- Conservatorship vs. Guardianship
Conservatorship and guardianship are legal arrangements designed to protect individuals who can no longer manage their own affairs. A conservatorship is typically used to handle someone’s financial matters, while a guardianship involves making personal decisions about health and well-being. Though they serve similar purposes, the distinctions between conservatorship and guardianship are significant, and understanding these… read more…
- What Is a Lean Startup?
The term “lean startup” describes a method of starting a business that favors a flexible, trial-and-error approach to product development. Unlike traditional startup methods, which include analyzing, testing and verifying potential customer demand, a lean startup anticipates uncertainty in operating conditions… read more…
- Key Person Insurance for Businesses
Creating a financial contingency plan for your business is just as important as creating one for your personal finances. Part of that plan may include purchasing a key person insurance policy. Key person insurance is a type of life insurance… read more…
- How Does an Asset Protection Trust Work?
Trusts can be a useful addition to your estate plan if you want to create a financial legacy for your loved ones or minimize estate taxes. An asset protection trust is a type of trust that has a specific purpose:… read more…
- What Is the Unemployment Rate? It’s Complicated
Unemployment is a messy statistic. Every month the U.S. Bureau of Labor Statistics publishes its civilian unemployment rate or what is more commonly referred to as simply “the unemployment rate.” That rate was 13.3% in May – far above February’s 3.5% rate. The weekly… read more…
- Grants for Minority-Owned Small Businesses
Several grant programs exist to support minority-owned small businesses, from both the government and nonprofit organizations. The definition of “minority” varies by program, though most focus on racial and ethnic minorities like African-Americans, Asian-Americans, Hispanic Americans, Native Americans and Pacific Islanders. A… read more…
- Does Facebook Shops Make Sense for Your Business?
Small business owners can now host their e-commerce efforts on Facebook through its recently launched Facebook Shops, which the social media giant began rolling out on May 19, 2020. It’s not an entirely new product; instead, it’s a renaming and enhancement of… read more…
- How to Use a Codicil to Modify a Will
Writing a will is an important part of creating an estate plan, as it lets you specify how you want your assets to be distributed among your heirs after you pass away. You can also use a will to name a legal guardian for your minor children. But if you need to change the terms… read more…
- Retirement Planning for Married Couples
Retirement planning for married couples involves estimating future expenses, understanding income sources and determining how much savings are needed to maintain a desired lifestyle. When considering how much a married couple should have for retirement, factors like age, anticipated healthcare costs and desired retirement age play a significant role. Many financial experts suggest aiming for… read more…
- IRS Increases Flexibility for Employer Health Insurance Plans and FSAs
The COVID-19 pandemic continues to impact many working Americans. Whether they contract the disease themselves, are responsible for the care of someone with the virus, or have had their employment or finances impacted by the economic fallout, there are many questions about how employer health plans will help support these individuals. To help out, the IRS… read more…
- Business Overhead Expense Insurance
Part of running a business means planning for curveballs that could make managing day-to-day operations difficult. Business overhead expense insurance is designed to keep things going when a disability or illness requires you to be temporarily absent. This is different… read more…