- Antitrust Laws: What Are They and How Do They Work?
Antitrust laws prevent large corporations from engaging in practices that reduce competition or harm consumers. These laws are enforced through regulations and legal actions to maintain fair competition. Business owners, financial advisors and consumers can use these laws to operate and compete fairly in the marketplace. A financial advisor can help you understand and follow… read more…
- How 529 Plans Are Treated for Estate Planning and Taxes
A 529 plan can play a strategic role in estate planning, especially for families looking to reduce taxes while saving for education. Contributions to a 529 plan may be excluded from your taxable estate, potentially lowering future estate tax liability. In addition, the plan offers tax-free growth and tax-free withdrawals when used for qualified education… read more…
- What Is Wage Push Inflation and What Causes It?
Wage push inflation happens when rising wages cause businesses to increase prices for goods and services. Employers may raise wages to attract or retain workers, especially during labor shortages, which benefits employees but raises business costs. These costs are often passed on to consumers, making everyday goods and services more expensive and increasing the cost… read more…
- 5 Ways to Pay Yourself First
“Paying yourself first” is a simple strategy to prioritize savings and investments by setting aside a portion of your income before covering other expenses. This approach helps you consistently work toward financial goals like retirement, emergency savings, or building wealth, while encouraging disciplined saving habits and reducing impulsive spending. A financial advisor can help you… read more…
- What Type of Insurance Do You Need for a Yacht?
Yacht insurance is an essential consideration for anyone who owns or is planning to purchase a yacht. Given the significant investment involved, yacht insurance protects the owner against a range of risks, from accidents and liability claims to natural disasters. Yacht insurance policies are designed to cover various aspects of yacht ownership, including damages to… read more…
- How Much Does Yacht Insurance Cost?
Yacht insurance is an important consideration for yacht owners, helping to protect both their vessels and themselves from financial risks associated with boating. Yacht insurance costs vary widely based on factors like the yacht’s value, size, intended use and cruising area. On average, yacht insurance costs per year are around 1% to 5% of the… read more…
- 4 Reasons Why You May Want to Buy an Annuity
Annuities are a popular option for individuals looking to secure a stable income in retirement. By providing regular payments over a specified period, annuities offer peace of mind and financial security. For those considering retirement planning, annuities can be an effective way to ensure predictable income that is shielded from market volatility. However, annuities come… read more…
- 7 Value Investing Books You May Want to Read
Value investing is a popular investment strategy focused on identifying undervalued stocks with strong long-term growth potential. For investors who want to deepen their understanding of this approach, the best books on value investing are an excellent way to learn from experts and refine their strategies. These books provide insight into the fundamentals of value… read more…
- How Is Debt Divided During a Divorce in Illinois?
Divorce involves emotional and legal challenges, including how debt gets divided. As an equitable distribution state, Illinois divides debt and assets fairly, though not always equally. The court considers factors like each spouse’s financial situation, contributions to the marriage and the purpose of the debt. Marital debt, incurred during the marriage, is usually shared, while… read more…
- What Is a Financial Counselor and How Can You Hire One?
A financial counselor is a professional who helps individuals and families manage their personal finances by offering guidance on budgeting, debt repayment and financial goal-setting. Unlike financial advisors who may focus on investments and wealth management, financial counselors typically work with clients to improve their financial stability and address immediate concerns like credit issues or… read more…
- Ask an Advisor: I Maxed Out My Roth IRA Earlier This Year and Then Got a New Job. Can I Participate in the Company’s 401(k)?
I am a new college graduate who had a part-time job and earned $8,000 with no benefits during my final spring semester. I put my first $7,000 of earnings into a Roth IRA. After graduation, I got a full-time job with benefits including a 401(k) plan with 50% company match. Am I allowed to participate in the… read more…
- How to Amend a Florida Will With a Codicil
In Florida, one of the most efficient ways to update a will without rewriting the entire document is by using a codicil. A codicil is a written document that allows you to make specific changes to your existing will. The Florida codicil to will form is available online, which makes the process even easier for… read more…
- How to Amend a Pennsylvania Will With a Codicil
In Pennsylvania, one of the most efficient ways to amend a will is through a legal document known as a codicil. This tool allows individuals to make changes to their estate plans without the need to draft an entirely new will, saving both time and money. Whether you’re looking to update beneficiaries, change executors or… read more…
- How to Amend a Virginia Will With a Codicil
One effective way to update a will in Virginia is by using a codicil. A codicil is a legal amendment that allows you to make specific changes to your existing will without drafting a new one. This process is a cost-effective way to preserve the original intent of your will while allowing you to make… read more…
- How to Amend a Texas Will With a Codicil
One of the most efficient ways to amend a will is through a legal document known as a codicil. Texas, like most other states, allows you to make adjustments to your will using a codicil, which eliminates the need to draft an entirely new document This can be particularly helpful for the minor changes associated… read more…
- The Value of a Financial Advisor: What’s It Really Worth?
Abstract Given the diverse spectrum of financial needs and advice, the exact financial impact of employing a financial advisor remains largely unquantified. But with clients putting their hard-earned dollars up for the unknown, it may be difficult to pull the trigger employing a financial advisor, despite the potential for long-term payoffs. This model aims to… read more…
- Ask an Advisor: When Should I Work With a Financial Advisor versus a CPA?
With the exception of tax preparation, how do you determine when a certified public accountant (CPA) is needed versus a financial advisor for financial guidance? – Joyce In many cases, most people would benefit from having both a certified public accountant (CPA) or other professional tax preparer and a financial advisor. Each has their own… read more…
- Types of Power of Attorney in Indiana
Understanding the types of power of attorney in Indiana is crucial for anyone who wants to ensure their affairs are managed according to their wishes, whether due to illness, absence or other circumstances. In Indiana, a power of attorney is a legal document that grants one person the authority to act on behalf of another… read more…
- Types of Power of Attorney in New Mexico
A power of attorney (POA) is a legal document that allows you to appoint someone to make decisions on your behalf. Creating a power of attorney can help you manage your financial and personal affairs according to your wishes. In New Mexico, several types of POAs serve distinct purposes and offer varying levels of control.… read more…
- Ask an Advisor: Can I Roll Over $120k in After-Tax 401(k) Contributions to a Roth IRA Without Paying Taxes?
I have $120,000 in after-tax contributions in my traditional 401(k) at work. Can I roll over just the after-tax money into my Roth IRA? I would like to avoid creating a taxable event. – Daniel Daniel, this is a great question. Your ability to roll over these after-tax 401(k) contributions to your Roth IRA may… read more…
- 5 Fastest Ways to Pay Off Your Mortgage
Owning a home is a dream for many, but the reality of a long-term mortgage can feel daunting. The good news is that there are strategies to help you pay off your mortgage faster, potentially saving you thousands in interest and freeing you from debt sooner than expected. Whether you are looking to increase your… read more…
- Where to Find Professional Financial Advice Online
Finding professional financial advice online has become more accessible with the growth of digital platforms and services. Now, individuals can connect with financial advisors through many websites, apps and online networks, receiving guidance on topics ranging from retirement planning to investment strategies. These services often offer flexible options, allowing users to choose from robo-advisors that… read more…
- Operating Cash Flow vs. Free Cash Flow
Understanding the nuances between operating cash flow and free cash flow is crucial for both investors and business owners. These two financial metrics, while related, serve distinct purposes in evaluating a company’s financial health and operational efficiency. Knowing the difference between operating cash flow vs free cash flow can help investors better understand a company’s… read more…
- What Is a Swap Execution Facility (SEF)?
Understanding the mechanisms that facilitate trading is crucial for both seasoned investors and newcomers alike. One such mechanism is the Swap Execution Facility, or SEF, which plays a pivotal role in the trading of swaps and other derivatives. Established as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, SEFs were designed to… read more…
- How to Apply for a Home Equity Line of Credit (HELOC)
A home equity line of credit (HELOC) can be a valuable tool for homeowners looking to leverage the equity in their homes. Whether you are planning a major renovation, consolidating debt or funding a significant purchase, understanding how to apply for a HELOC is crucial. This type of credit allows you to borrow against the… read more…