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Posts by Becca Stanek:
In legal terms, a fiduciary is an individual or organization that has taken on the responsibility of acting on behalf of another person or entity with honesty and integrity. For example, bankers, attorneys and officers of public companies are all fiduciaries, meaning they must act in the best interest of their customers, clients or shareholders. If they don’t, they are legally liable. Similarly in the investment world, fiduciary financial advisors manage client assets with their best interests in mind. To find a local fiduciary financial advisor, try using SmartAsset’s free tool. Read more
Making a decision to move to a particular place involves taking into account many factors, including career opportunities and what mortgage payments might look like. But does the choice of a particular locale say anything about trends across a specific socioeconomic class and generation? While wealthy people of Generation X, for example, are headed down South in general, Florida is the most popular state for them in particular, with a net inflow of approximately 9,000 from 2015 to 2016. Meanwhile, New York saw almost as many wealthy Gen Xers leave within that same time span. Read more
A number of factors can influence your decision to move to a new place, including where your peers are headed. While some older generations like rich retirees and rich Gen Xers are moving to Florida, wealthy millennials are still seeking out sunny locales, but in other states. Moving and taking out a mortgage in a new state are big decisions often best discussed with a trusted financial advisor, but in recent years, California, home of Silicon Valley, has been a relatively popular destination for people who are younger than 35. By contrast, data shows that this demographic is exiting New York in droves – the state had a net outflow of 4,867 wealthy people under the age of 35 from 2015 to 2016. However, its neighbor across the Hudson River, New Jersey, made it into the top 10 cities in our study of where rich millennials are moving. Read more
The U.S. is the 19th-happiest country in the world, according to the 2019 World Happiness Report that the Sustainable Development Solutions Network for the UN released. Though this is a one-spot drop… Read more
Moving to a new home can be a difficult undertaking, even though it might bring your life a much-needed change, especially when you have significant financial costs to consider. As you look to make… Read more
Ken Fisher, an investment analyst and self-made billionaire, is perhaps best known for founding Fisher Investments. The financial advisor firm based in Camas, Washington manages more than $96 billion… Read more
The aid of a financial advisor can be helpful regardless of whether you’re young, retired or somewhere in between. There are a wide range of financial advisors you can work with, as they can… Read more
As you strive to reach your financial goals and prepare for retirement, you may consider turning to a financial advisor. But do you know how much a financial advisor costs? Depending on the size of… Read more
If you’re looking for a financial advisor, the Form ADV is an essential point of reference. In fact, this publicly available paperwork must be filed with the U.S. Securities and Exchange Commission … Read more
A wealth manager is a subset of financial advisor that primarily offers high-net-worth and ultra-high-net-worth clients wealth management services. But a wealth manager’s role is far more… Read more
Estate planning is the process of setting up how your assets and property will be distributed upon your death. Through these plans, you can ensure your assets are given to the people and… Read more
It can be hard to know if your retirement savings are on track, but comparing your balance to others can help. In particular, taking a look at the average 401(k) balance by age is a good place to… Read more
Warren Buffett said it best: “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”… Read more
There are a number of ways to buy bonds: directly from the U.S. Government, via a bond fund or with the help of a broker. Before you make your purchase, it’s important to understand what types of… Read more
In short, yes, your inheritance is taxable. However, the full story is more complicated than a simple yes or no answer. Whether you’ll pay inheritance tax and how much you’ll pay depends on a variety… Read more
You can freeze your credit report by contacting a credit bureau like Equifax, Experian and TransUnion. Then you’ll fill out some paper work and pay a fee. Freezing your credit report is a good idea… Read more
Finding a financial advisor is easier than ever. In addition to traditional methods like word-of-mouth recommendations, you can also use a financial advisor matching tool or an advisor network’s… Read more
Private wealth management is an investment advisory practice focused on serving the unique needs of wealthy individuals. The practice incorporates a wide range of services, including financial… Read more
Self-directed 401(k) plans let savers decide how to invest their pre-tax retirement contributions. Rather than being limited to the pre-approved funds typically offered by traditional 401(k) plans,… Read more
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