- 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…
- Sole Proprietorship vs. LLC
The two most popular ways of organizing a small business are LLCs and sole proprietorships. They are less costly and complicated compared to the alternatives of corporations and partnerships. There are key differences between these two widely used structures, including the… read more…
- PPP Loan Acceptance Rates in the First and Second Rounds of Funding – 2020 Study
Overseen by the Small Business Administration (SBA), the Paycheck Protection Program (PPP) is the largest fixture of federal coronavirus financial relief programs. The program provides forgivable loans to small businesses, defined as those with fewer than 500 employees, to cover payroll and associated costs. There have been two rounds of funding through the program. An… read more…
- What to Know About Traveling During Coronavirus
Since the coronavirus pandemic went global in early 2020, travel and tourism have been heavily impacted. Millions of people have seen their trips canceled by airlines and tour companies, with millions more choosing to cancel their trips out of caution and fear. Those who still need to travel for essential reasons are forced to take… read more…
- How The Coronavirus Has (and Hasn’t) Hit Housing
Times of economic uncertainty and market instability tend to affect the housing market, frequently including drops in average home prices. Yet for all the economic and financial convulsions of the coronavirus pandemic the housing market has remained strikingly steady. The purchase prices of residences have edged higher while the cost of renting a residence has… read more…
- What Happens If You Default on a Business Loan?
Taking out a business loan can be a powerful tool to launch your startup or scale an existing business to new heights. However, failing to meet repayment obligations can lead to significant financial and legal challenges. This includes a potential hit to your credit score and difficulty securing future financing. Defaulting on a business loan… read more…
- Estate Planning for Business Owners
Estate planning can take on a new dimension when you own a business. Not only do you need a strategy for managing personal assets but you also need to consider what will happen to your business in the long term.… read more…
- How to Retire in Croatia: Costs, Visas and More
When you think of Croatia, do you think of the beautiful Dalmatian seacoast where they shot “Game of Thrones”? Or perhaps Croatia conjures up visions of Plitvice Lakes National Park’s waterfalls and blue water. Or, if you’re a city person,… read more…
- Estate Planning Documents: What Do You Need?
Estate planning begins with knowing which documents you need and making sure they are up to date. Among the most common such documents are wills, trusts, powers of attorney and designations of beneficiaries. Understanding how each document works and what… read more…
- Pivoting Your Business for the Coronavirus Economy
So you’ve got a business that’s impacted by the coronavirus economy. Even with PPP loans and other government resources for small businesses, your revenue is suffering and you’re not sure if you can afford to stay in business. But rather than shutting down, should you be thinking of pivoting your business? It could mean the… read more…