Below you'll find a list of all posts that have been categorized as “Wealth Management”
As you retire, how do you want to move forward with your life? The biggest retirement questions are not necessarily financial. They concern purpose, well-being, and the meaning of life. You should know “what’s next” as you leave work. This is important. If your personal identity is closely tied to your career or business and most of your friends work …
Key Points Develop a family financial map Communicate early and often Be clear about your expectations and values Introduce your heirs to your financial advisor Avoid this unfortunate inheritance situation It’s not an uncommon scenario: The parents pass away and leave the family home to the children, Joe, Bill and Marie. Joe wants to keep the house and live in …
While market declines, corrections and downturns can be disheartening, they can also be opportunities for investors with workplace retirement plan accounts, IRAs or any long-term investment programs that use dollar-cost averaging. Dollar-cost averaging is a method of investing a fixed amount of money at regular intervals. It works the same for everyone, regardless of investment experience. Down markets can actually …
Careful planning in the months before retirement can help you ensure a smooth transition. Key Points You should try to reduce or eliminate credit card debt before you retire. Make sure to determine which accounts you will withdraw from first. Remember to work with your financial advisor to develop an appropriate asset allocation strategy By the Numbers 59½ is the …
Americans are living longer, healthier, and more active lives than past generations, and they want to ensure their healthcare and domestic needs are met. That means saving for a longer retirement is critical. Everyone has different circumstances. Fortunately, a diverse array of options is available to address your individual needs and aspirations. A skilled financial consultant can help you navigate …
A look at the role they can potentially play for families. Parents raising a child with special needs can face financial stress. State and federal programs simply don’t address all the long-term financial demands of their households. Two intriguing financial options may provide help. A special needs trust can serve as a resource. It can be created with family assets …
A self-created last will and testament may lead to problems. As an early step in estate planning, you may be tempted to write your own will. There are some good reasons why you shouldn’t. While do-it-yourself wills may be cost-effective and make the process of will creation relatively simple, they also have shortcomings. DIY wills tend toward the basic and …
An overview of its current financial dilemma and potential solutions. Will Social Security be different when you retire? Its reserves are projected to be depleted by 2034, and if that happens, the program could pay retirees only about 80% of projected retirement benefits.1 Since 2010, Social Security has paid out more than it has taken in. With roughly 10,000 …
Could you possibly arrange multiple income sources? On average, women receive 23% less Social Security income than men. In 2014 (the most recent year of data available), the average yearly Social Security benefit for a woman 65 or older was $13,150, compared to $17,106 for her male counterpart.1 This is one example of the income gap plaguing too many women …
In trying to do it yourself, there’s the chance you could do it all wrong. Many successful people refrain from trying to plan their financial futures. They delegate that job to professionals, as they lack the time, inclination, or knowledge to do it themselves. This makes sense. It takes years to gain a thorough understanding of financial market cycles and …
