Below you'll find a list of all posts that have been categorized as “Financial Planning”
The COVID-19 pandemic upended Americans’ lives. In many cases, the pause on society affected retirement finances and plans. An October 2022 survey report from Transamerica Center for Retirement Studies and Transamerica Institute, “Emerging From the COVID-19 Pandemic: Four Generations Prepare for Retirement,” examined the pandemic’s impact on Baby Boomers, Generation X, Millennials, and Generation Z. The study focused on the …
Very few bills are likely to move in the lame duck session that historically grips Congress after mid-terms, but Washington insider Andy Friedman believes SECURE 2.0 (Securing a Strong Retirement Act of 2022) has an excellent shot. “Right now, the Senate and House have each passed [their version of the] bills with only minor differences that are easily worked out. …
An independent advisor is not tied to any specific family of funds or investment products. Many independent financial advisory firms are owned by the people who sit at the desks inside.What’s DiscussedWhat makes a financial advisor “independent?”How are independent financial advisors different?Are independent financial advisors unbiased?Does it matter if your advisor is independent?What are the benefits to working with an …
In its most basic form, annuities are insurance that provides an income stream either for a fixed period of time or for the rest of your life. Sounds pretty straightforward, right? The trouble is that annuities are often sold and not bought. Consumers are pushed into ill-fitting products because that’s what the broker is selling that month. When shopping for …
For 2021, the annual gift tax exemption was $15,000 per recipient. In 2022, that number went up to $16,000. You can give up to $16,000 to as many people as you want during the coming year without any of it being subject to a gift tax. The IRS imposes the gift tax if you transfer money or property to another person without receiving at …
The start of a new year is a great time for introspection and evaluating the areas of your life you want to improve. When setting New Year’s resolutions, individuals often think about their career or physical health, but financial wellness is just as important. It’s no surprise then that January is Financial Wellness Month. Financial wellness is a personal journey …
In an attempt to control inflation, the Federal Reserve has signaled its intention to raise the federal funds rate (currently set at zero) three times in 2022. This will effectively raise interest rates in general, making it more expensive to borrow money. Even small increases in the federal funds rate can have an impact on investor decisions. Here are three …
Alternatives are investment options beyond the typical stocks, bonds and cash found in most portfolios. They can be tangible assets like precious metals, or they could be financial assets like private equity or hedge funds. Alternatives tend to be riskier than traditional assets, which means investors usually have to meet certain criteria to access them. Here’s a closer look at …
Communication about money is often fraught for couples, and bringing the topic up with your partner can be challenging. But discussing financial concerns, goals and habits is key to a strong relationship. And open communication about these topics can help you and your partner work as a team toward common financial goals. How to talk about money and which topics …
Many investors want more out of their investments than just a good return. They want to know that the companies they invest in are ethical and responsible — that they build environmentally sustainable business models, advance a social good and operate in a transparent, ethical way. To identify these companies, socially responsible investors can use a set of criteria known …
