If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other. But retirement is a decision that should be carefully thought out. Here are some things to consider when deciding whether to retire at the same time as...
While it’s highly recommended that we use a financial advisor when we start to grow our investment portfolio, there are a lot of things you can do before you ever speak to a financial advisor to grow and maintain your investment portfolio. Investing, like everything else in life, has no guarantees, and even the hottest stock or the best tip may not always perform the way we would like. Keeping that in mind, here are...
Relationships can be filled with tricky financial situations. Here are some tips on navigating money management as a team.
In 2018, student loan debt in the U.S. reached $1.5 trillion. With a continued increase in college tuition, it's likely that even more young adults will be turning to loans in order to finance their education. With the average student loan debt coming in at around $38,000, it's important to have a plan in place to pay off those loans once you enter the workforce. If you've left school with student loan debt, here are...
In recent weeks, you may have heard the word recession a lot. You may even have a vague understanding of what a recession is, but would like a better understanding of what a recession really is. What the Dow Jones Industrial Average? You probably hear that every night on the news and you know that it has something to do with the stock market, but aren't sure of the details. Here are some common terms...
Being financially literate in today’s economic climate is more important than ever. Understanding finances can help you make better money management decisions, budget your money properly, adequately save for college, and be financially prepared for retirement. While it may sound daunting, financial literacy starts with a budget. Today, only one third of Americans have a budget that they actively use when making financial decisions, although 75% of Americans believe you should have a budget. With...
The year 2020 was unprecedented for so many reasons—all because of the COVID-19 pandemic. Many suffered from job losses, had to juggle childcare while working from home, and tried to keep their small businesses open with few resources. Thankfully, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) established a business loan program to help keep businesses across the country afloat during tough economic times. You may have already taken advantage of the first...
As of December 2018, more than 43.7 million retired Americans collected Social Security, with more than 8 million disabled workers collecting benefits as well. But Social Security is much more than retirement income. Along with providing a small income to millions of seniors, Social Security also provides life insurance as well as survivor benefits. If you’re nearing retirement age and still have a lot of questions about Social Security, here are a few facts for...
When John recently lost his wife Betty to cancer, their children were surprised to find out that neither John nor Betty had life insurance. As a result, the children ended up paying the cost of the funeral, and John, currently on a fixed income, is left contemplating whether he can afford to stay in the home they had lived in for over 25 years. An untimely death can have a major financial impact on those...
While it may be prudent to use a financial professional when you start your investment journey, there are a lot of things you can do before you ever speak to a financial professional. Investing, like everything else in life, has no guarantees, and even the hottest stock or the best tip may not always perform the way we would like. Keeping that in mind, here are a few things you can do (or not do)...
A lot of people are under the impression that tax planning is only for high-wealth individuals. However, like financial planning, just about everyone can benefit from some level of tax planning, whether that means becoming better acquainted with the various tax savings options available, or making proactive decisions based on your current financial situation. One of the best investments you can make is to visit with a financial or tax advisor to determine just where...
If you’re like most Americans, you make the majority of your donations to charitable organizations in November and December. But as you get ready to pull out your checkbook to write that check or go online to make a donation from your favorite organization’s website, make sure to perform some due diligence; particularly if you’re considering giving to an organization for the first time. So, what should you know about the organization you are interested...
