Whether you are a trust fund baby and set out in life with a lot of money or you work to build your own wealth with time, it is still not uncommon to run into financial problems at some point and be faced with some really tough decisions. There are always things that can take place that greatly affect how much money you have and how you will get by, from a change in employment to a divorce and everything in between.
18 December 2017
If you qualify for Medicare, you also qualify to purchase a Medigap plan or other Medicare supplements. A Medigap plan is a supplemental form of insurance that steps in and helps you pay your coinsurance, deductible, and copayments that you have to pay out-of-pocket for Medicare Part A & B. Your coinsurance, deductible, and copayments can really add up, and Medigap is an affordable way to cover those expenses. However, Medigap plans are not free.
2 November 2017
If your finances are best described as "a mess" and you are struggling to pay bills, then you might be considering filing for bankruptcy. But while filing for bankruptcy may seem like an easy way to hit reset on your financial life, it is a very long and involved process that will negatively impact your credit score for many years. If there is a way you can possibly get your finances in order and avoid bankruptcy, it's usually wise to do so.
25 July 2017
You have a set amount of money deposited into your employer backed 401(k) program every month. In fact, you've done this for more years than you can count and it seems to be working, so you're all good. The reality is that you might be doing yourself a disservice. Getting the most out of your retirement savings plan requires a far greater effort. Make sure you know what to do.
21 February 2017
If you're trying to get a handle on your financial situation, you must have a budget. It's the foundation of all financial planning. Without one, you don't know if you're making more than you spend, if you can really afford a new car, or how much money you can divert to savings. Fortunately, creating a budget is fairly simple; you just have to write down your income and subtract all monthly expenses.
12 July 2016
With how easy it is these days to access the internet, anyone and everyone can trade stocks with the hope of striking it rich in the near future. However, it is also just as easy to trade yourself into debt. First time investors make many common mistakes that are detrimental in the long run. Below is a list of the most common pitfalls to avoid when buying and trading stocks for the first time.
6 April 2016
When trying to decide what to pour into your mutual fund, you will need to be cautious with bubble sectors such as the tech sector. But these types of sectors can still generate high returns if you have good timing. There are a few factors you will need to consider before adding tech to your mutual fund. The Technology Sector Can Have High Minimum Investments Investing in the tech sector can be very expensive, with minimum investments often at $100,000.
30 October 2015
As someone who is always looking for ways to invest, you might have considered becoming a private equity investor. This is a great way to help businesses get off to a great start, and it can provide you with wonderful returns over time. However, private equity investing isn't for everyone. These are a few signs that it might be right for you. 1. You're Able to Make a Large Investment
19 October 2015
W.C. Fields, at the time of his death, reportedly had numerous financial accounts all over the U.S. and around the world. It was his habit to place money in several accounts after finding himself stranded in a city with no money. While spreading money around and stashing in multiple accounts the world over is actually a good approach to wealth management, you need to know how to do it correctly. That is where private wealth management advisors can help.
14 October 2015
An integral part of most personal retirement plans is Social Security benefits. The availability of Social Security income affects the planning of other distributions. Individuals planning for retirement can achieve a more comprehensive financial plan by determining the optimal age at which to begin receiving Social Security payments. Individuals may receive full Social Security benefits at a designated age, but reduced benefits are available at an earlier age. Social Security income may also be delayed beyond an individual's full retirement age to increase the monthly payment amount.
13 October 2015