Do you picture yourself owning a new home, sending your kids to college, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That's where financial planning comes in.
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. 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 your spouse.
An important part of managing your personal finances is keeping your financial records organized. Whether it's a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document--and you'll need to locate it relatively quickly.
With the rise of the internet and, more recently, mobile app, traditional banks have been developing digitized ways to deliver services. With advanced websites and more capabilities, internet-only banks also developed to rival brick-and-mortar banks. While internet-only banks may be able to offer better interest rates due to low overhead costs, you should be aware of the pros and cons of internet banking before taking the leap.
A donor-advised fund may help you to "supercharge" your giving by saving money on taxes, allowing more funds to make it to your intended charities. DAF's have two major tax benefits to the donor, as well as tax-free growth inside the account. Can this help you give more to your favorite charities, while saving taxes?
If you are a young adult graduating from high school or college and entering the workforce, you may have the opportunity to open a 401(k) through your new employer. In some cases, that employer will also offer matching contribution funds up to a certain percentage. While it sounds like a no-brainer to take advantage of these benefits early, less than one-third of employees ages 25 and younger participate in their employer’s 401(k) plan. It’s essential to know the benefits of investing early and often, as it can help set you up for financial success in the future.
It’s daunting to think about the day when you may not be able to live independently and care for yourself. But planning early for long-term care can keep you from becoming overwhelmed in the event that you develop a chronic illness, disability or other condition. By planning your care now, you’ll be more likely to have greater control over significant decisions and remain comfortable as you get older. Here are some ways that you can...
If you're contemplating a separation or divorce, you certainly have a lot on your mind. Apart from the very emotional impact of separating from a partner, there are many financial and practical matters to consider as well.
Small business owners often invest funds back into their business to promote growth, but you should consider saving at least a small percentage of your revenue as a backup plan. You may also want to make sure that your business is viable even if you leave. Instead of spending all of your time working within your business, you should focus time working on your business.
If you have plenty of income to live on in retirement, is it really necessary for you to retain a life insurance policy? Of course, the answer will depend on your situation—your current debts, resources, and financial plan. However, you may want to consider if retaining, obtaining, or converting your policy would be beneficial for you.
There’s a good reason there’s an estimated 74 to 96 million owned cats and 70 to 80 million dogs in the U.S. With wagging tails, slobbery kisses, and little whiskers that make for adorable Instagrams, pets give us that warm, cuddly feeling inside. They are part of our families and some of our best friends. But, they can also be a substantial part of a personal budget, especially since it (hopefully) is a long-term commitment...
Retirement can invoke a mix of conflicting emotions from anticipation to fear, excitement to anxiety. It’s one of the biggest life changes we experience in our adult lives. Most of us anticipate and save for it for decades. But, going from receiving a paycheck for most of your adult life to living off the wealth you have amassed is no doubt an unnerving transition. Have I saved enough to live off of? How will I...