April 18th is fast approaching. Here's how to stay organized so you can get your taxes filed.
With the popularity of robo-advisors, are financial professionals still necessary?
A big winner in 2021, was the S&P 500. Its return was the 7th highest in the past 50 years and five of the biggest stocks accounted for more than half of that return from April to year-end. An obvious loser was the broad index for US bonds (the Bloomberg Barclays US Aggregate Bond Index). It saw negative returns for only the fourth time since the index’s inception in 1976.
It may be easier to stick to your financial goals if you have a strong investment philosophy in place.
It's not always pleasant to think about the possibility of needing long-term care, but it's a necessary part of getting older.
When thinking about our physical health, it’s common to take a holistic approach. So why don’t we approach our financial health the same way?
The most important thing about retirement is that you have the time, money, and space to do what makes you happy.
If you have read any literature on retirement planning or have received advice from a financial professional, chances are you were presented with the 70% rule, the one that suggests that retirees will need between 70 and 80% of their pre-retirement income in order to maintain their standard of living.
A will is the foundation of your estate plan and it is essential if your financial affairs are to be settled in accordance with your wishes. If you die without a will, or “intestate” as the law refers to it, essentially the state becomes your executor and your property will be distributed according to its laws.
While the current stock market boom has some people rejoicing it doesn’t appear as though their level of anxiety has abated much. Investors sometimes have short memories, but a stock market rally s is not likely to make people forget the carnage left behind in their 401(k) s and stock portfolios after one of the worst market declines in our history.
The success or failure of a financial plan is driven by a variety of possible influences. Factors like the right rate of savings, good investment selection, and careful risk management are all important and commonly recognized as elements of a high quality plan. Going a step further and incorporating a well thought out estate plan can turn a good plan into a great plan.
Most people couldn’t bear the financial hardships resulting from unexpected events, such as a major house fire, a car accident, a disability or the premature death of a family breadwinner, which is why one of the most important component of a sound financial plan should be your personal risk management strategy.
