Estate planning is much more than setting up a trust. The broadest description of estate planning is the process of preparing to dispose of your assets when you pass away. At least, that’s the textbook definition. Understandably, that gives many people the impression that estate planning is for the rich or those taking required minimum […]
Mutual fund share classes can often be confusing for investors looking to save for retirement. Understanding how they work is key to making smart investing decisions. If you’re socking money away in a retirement account, the odds are you’re investing in mutual funds. Mutual funds allow investors to pool their money together and receive professional […]
A Roth IRA conversion and Roth IRAs in general can be powerful tools in a retirement saver’s toolkit. The potential to accumulate a bucket of funds to be used tax free in retirement is very attractive. This is especially true when you realize how much of your 401(k) or Traditional IRAs will be taxed in […]
It isn’t lost on small business 401k trustees that these plans are not for the faint of heart. Endless changes in regulations and increased scrutiny leave some small business owners wondering why they even bother offering a plan at all. Keeping the plan in compliance and maintaining an investment platform can leave any seasoned business owner […]
Don’t under estimate the power of compound interest. It can work for you or against you. According to Investopedia the definition of compound interest is: Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. This concept is so powerful that Albert Einstein is said to […]
In the early 2000s, property values were rising at a rapid rate and bringing with it newfound home equity. As property values rose and mortgage rates dropped, the temptation to refinance and take cash out became irresistible for many. This financial transaction is not so affectionately known as “using your home as an ATM.” It’s officially known as […]
Business startups are not for the faint of heart. Someone, long ago and far away, shared some advice when I joined the ranks of the self employed. He said, “don’t think of it as being self employed, it’s more like being self inflicted!” Joking aside, despite the challenges, I wouldn’t have it any other way. Many […]
If you’re looking to improve your finances, it can feel like a tall order. Taking on any challenge is daunting and the first step is usually the hardest. Knowing where to begin is hard enough and sometimes we can be our own worst enemy. When it comes to our finances, it can be difficult to […]
Retirement planning is a process, not an event. Asking yourself these questions will help you stay on track. Now that our taxes are done, it’s a great time to do some personal finance spring cleaning. Before we know it, we’ll be off on summer trips with our finances far in the back of our minds. Take […]
Student loan debt is on the rise and the numbers are staggering. Total student debt is approximately $1.38 trillion and is second only to U.S. mortgage debt. If you’re like me, seeing these crazy dollar amounts can lead to information overload. Just trying to wrap my head around ONE TRILLION is a challenge. Rather than […]
