Have you ever wondered how some families maintain their wealth over several generations? What’s their secret sauce? The answer may lie in using life insurance to establish a legacy that lasts over multiple generations. Determining if life insurance as an intergenerational wealth-building strategy is suitable for your family is...
For some people, managing money may feel like walking on a tightrope, juggling endless expenses. But with accountability, you can turn managing money into a positive endeavor. Accountability in finance refers to being responsible enough to track, manage and optimize your spending and savings. Here are some ideas to...
Debt can hinder financial confidence when you spend more than you make and borrow using credit. Other financial problems may occur, such as inadequate emergency or retirement savings. Another problem debt may create is what’s referred to as a debt trap, where an individual borrows money and cannot pay...
Establishing financial wellness is a personal, ever-changing state of being that enables one to exercise choice while feeling in control of finances. The individual determines financial wellness, which often includes working toward financial goals by completing specific actions. Some actions are time-sensitive, but others can occur anytime throughout the...
What kind of role can a financial professional play for an investor? The answer: an important one. While the value of such a relationship is hard to quantify, the intangible benefits may be long-lasting. There are certain investors who turn to a financial professional with one goal in mind:...
RETIREMENTREAD TIME: 4 MIN How do you picture your future? Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to consider....
The average household with credit card debt had a balance of $7,149 in 2020. For the average household carrying credit card debt as of September 2020, this equates to an annual interest of $1,155. With the average credit card annual percentage rate sitting at 16.43%, it represents an expensive...
Traveling. Some of us travel a lot, and some of us travel a little. For some of us, traveling is a job. Nearly 63 million people are employed, worldwide, in air travel and related industries.1 There’s bound to be travel wisdom among their ranks. Let’s find out. Think About Fast-Dry...
You taught them how to read and how to ride a bike, but have you taught your children how to manage money? One study households with student loan debt showed that the average amount owed was $47,671.1 And more than 20% of recipients with outstanding loans will either default or...
“Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. Between 2010 and 2018, the IRS only audited 0.6% of all individual tax returns.¹ And being audited does not necessarily imply that the IRS...