There’s nothing more exciting than buying your first home. Whether it’s a condo for one, a sprawling mansion, or anything in between, buying your first home makes you feel like a true grown-up. While you’ve probably already figured out exactly how much home you can afford, which is something your mortgage broker will communicate to you fairly quickly during the mortgage approval process, have you considered the cost of all of the other expenses associated...
If you’re in your 20s, rejoice! You’re in a great position to create the life you want, starting with a secure financial future. While it’s common to feel overwhelmed when entering the workforce full time, there are a lot of things you can do fresh out of college that will help you attain your professional and financial goals earlier than you may expect. Here are a few suggestions to help you get started: 1. Hone...
Have you ever wondered exactly what those initials after a financial professional’s name mean? You’re definitely not alone. The easy way to tell is to visit the Financial Industry Regulatory Authority, which provides a list of professional designations and what they mean. Below, we’ve created a short list of some of the frequently used designations and what they mean. AAMS – Accredited Asset Management Specialist – AAMS designation is considered an industry benchmark specifically designed...
While it may not seem so, there are a lot of painless ways to save money. Not just for those who have a limited cash flow, but also for those with plenty of surplus cash who will appreciate ways to cut back on monetary waste. Here are just a few things you can do to save: 1. Use cashback rewards credit cards. While most cards on the market today offer some level of cash back...
Donating money to our favorite charitable organization is a year-end ritual for many of us. While monthly giving has gained in popularity in recent years, most of us still tend to open up our wallets just a bit wider at the end of the year. But what about the organization that we’re giving to? What are they required to do once they receive our donation? If you’re unsure, here’s a quick run-down of what you...
One of the best ways to prepare for the cost of college is to start saving early. Here are some pros and cons of a 529 savings plan to consider.
Creating a financial plan may seem overwhelming to those that have never completed one, but taking the first steps to creating a plan is much easier than you may think. Even if you plan on hiring a professional financial planner down the road, creating a rudimentary plan can go a long way towards sharpening your goals, making your meeting with a financial planner much more useful when it does occur. If you’re not sure where...
Most nonprofit organizations today offer a variety of planned giving options that supporters can take advantage of. If you’re committed to supporting an organization into perpetuity, planned giving provides you with the option to do so. While consulting with your tax or financial advisor is recommended before making any planned giving decisions, it can be helpful to gain some understand about the various options that are available, and which of these options are more likely...
Nearing retirement age and looking to reduce your expenses? Moving to a smaller home may help you save.
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.
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...
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.
