It may be easier to stick to your financial goals if you have a strong investment philosophy in place.
Most people of conscience, especially those who have done well for themselves, want to use their resources to do some good in the world.
Many investors have heard the term “asset allocation” at one time or another. From the first time we sign up for a 401k plan at the office all the way through the conversations we have with financial planners in retirement we are bombarded with messages about the importance of proper asset allocation.
In the story of Alice in Wonderland, Alice arrives at a fork in the road and wonders aloud which road to take. A smiling Cheshire Cat appears and asks her what her destination is, to which she replies, “I don’t know.” The toothy cat then proffers the only possible response, “Well, then it doesn’t matter.”
Most people think estate planning is only for wealthy people. Certainly, the 55% of Americans who died without a will thought so, even though all of their estates ended up in probate court subject to the laws of the state. Sadly, the surviving families were thrust into a situation that resulted in unnecessary distress, expense and, for many of them, devastating financial consequences.
While divorce may be hard on your emotional wellbeing, you shouldn’t let it impact your retirement plans.
Even if you're not ready to retire, understanding how you benefit from Social Security can help with your retirement plans.
Living on a fixed income can be difficult. Do you know how taxes will affect your financial health in retirement?
If you are the parents or grandparents of a child of any age chances are good that the escalating costs of higher education are on your mind.
The quick answer is “it depends.” But, for the 33 percent of retirees who now rely more heavily on their Social Security benefits to sustain their lifestyle, the answer takes on even more significance. Generally, your income from Social Security is not taxable on its own; but when it’s combined with other sources of income for tax reporting purposes, a portion of your Social Security benefits, up to 85 percent, could be includable as taxable income.
