Posts by Lena Borrelli
Investing for Beginners
Joint Investment Accounts: Types, Pros and Cons
A joint investment account is an investment account for two or more people. Each owner holds the right to contribute funds, place trades and withdraw assets. While it is often used interchangeably with a joint brokerage account, it covers a broader category including joint mutual fund accounts, joint advisory or managed accounts and investment vehicles… read more…
Financial Planning
VA Benefits for Dependents: Types and Requirements
Support for a military family doesn’t end when service is complete, and neither do the benefits. The U.S. Department of Veterans Affairs offers a range of programs designed to help spouses, children and even parents access health care, education funding and financial support1. Knowing what’s available and how to qualify can make a meaningful difference… read more…
Tax Planning
How to Avoid Capital Gains Taxes on Quit Claim Deed
Transferring property with a quitclaim deed may seem like a quick and tax-free move, especially among family members. However, the reality can be far more complicated. These transfers often avoid immediate taxes. However, they can quietly set the stage for a much larger capital gains bill down the road. Understanding how cost basis, ownership and… read more…
Tax Planning
How to Get a Tax ID Number for a Trust: Requirements and Steps
Setting up a trust can be a powerful way to manage and protect assets. However, it also comes with important tax responsibilities. One of the first steps many trustees face is obtaining a tax ID, or EIN. This allows the trust to operate as its own financial entity. Understanding when a trust needs an EIN,… read more…
Retirement Planning
Boldin Review: Features, Pricing and Competitors
Planning your financial future can feel overwhelming, but the right tools can make it far more manageable. Boldin is a platform that helps simplify that process, offering detailed projections, retirement modeling and hands-on planning for DIY investors. Before committing, it’s important to understand how it works, what it costs and how it compares to other… read more…
Annuities
How Do Variable Annuity Guarantees Work?
Variable annuities are often sold on the promise of one compelling idea: you can participate in market gains without bearing the full risk of market losses. It’s an attractive pitch, especially for investors approaching retirement who can’t afford a major setback. However, the word “guarantee” inside a variable annuity contract carries a lot of fine… read more…
Annuities
How Are Variable Annuities Regulated?
Variable annuities can be powerful tools for retirement planning. They provide guaranteed income options with tax-deferred growth that few other products can match. However, they are also complex, layered contracts that carry real risks. Therefore, the stakes for consumers are high. That complexity is exactly why variable annuities merge two major regulatory systems: insurance and… read more…
Other
Investment Management for Nonprofits: Services and Examples
Nonprofits are built to make an impact. However, even the most mission-driven organization cannot do its best work without a stable financial foundation. While fundraising and grants are the lifeblood of many nonprofits, relying solely on outside funding leaves organizations vulnerable to budget shortfalls and economic uncertainty. Smart investment management gives nonprofits a way to… read more…
Financial Planning
Wealth Management for Professional Athletes: Services and Examples
A professional sports career can generate life-changing income, but it often comes with an unusually short earning window and intense financial pressure. Between signing bonuses, endorsement deals and sudden lifestyle changes, managing money as a professional athlete can quickly become complex. Without a clear strategy, even substantial earnings can fade faster than expected. Wealth management… read more…
Financial Planning
Wealth Management for Entrepreneurs: Services and Examples
Building a successful business can create significant wealth, but it can also create financial complexity that’s difficult to manage alone. For many entrepreneurs, personal net worth is closely tied to business performance. Income can fluctuate dramatically, and major decisions carry lasting tax and investment implications. Wealth management offers a structured, strategic approach to navigating these… read more…
Trusts
Pros and Cons of Putting Your House in a Trust
Your home can be one of the most valuable assets you own. Therefore, deciding what happens to it after you’re gone is a critical decision when estate planning. For many, placing their house in a trust is a smarter, more controlled alternative to a simple will. It carries valuable benefits that can save heirs significant… read more…
How to Invest
High-Return Investments: Opportunities and Risks
Every investor wants strong returns. However, knowing how to pursue them without risking your financial future is where strategy separates from speculation. High-return investments can be transformative for those with the right knowledge and discipline, allowing you to build real wealth over time. However, they can just as easily become a source of significant loss… read more…
Certificate of Deposits
Are CDs Considered a Safe Investment?
When markets get volatile and economic uncertainty creeps in, investors often find themselves asking one question. Where can I put my money and know with confidence that it will still be there tomorrow? For many, certificates of deposit (CDs) offer a compelling solution. CDs combine the reliability of federal deposit insurance with the simplicity of… read more…
Tax Filing
How Long Does a Tax Extension Last? Deadlines, Rules and Penalties
If you’re scrambling to compile tax documents as the filing deadline approaches, you’re not alone. A tax extension can offer welcome breathing room, but it also comes with rules and potential pitfalls that many taxpayers misunderstand. Knowing how long an extension lasts, what it does and doesn’t cover and what happens if you miss a… read more…
Inheritance
Does a Bank Account Beneficiary Override a Will?
It’s easy to assume your will has the final say over who inherits your money, but that’s not always true. Just one bank account beneficiary form can quietly override written estate plans and redirect funds in ways families don’t expect. Understanding how bank account beneficiaries work can help you avoid surprises and ensure your money… read more…
Trusts
Trust Officer: Role, Responsibilities and When You May Need One
A trust can be a powerful way to protect your assets while providing for the people you care about. However, creating the trust is only part of the equation. Someone must still execute your instructions and manage the financial and legal details long after the paperwork is signed. That’s where a trust officer comes in,… read more…
Certificate of Deposits
Brokered CD vs. Bank CD: Which Should You Choose?
A bank CD is issued directly by a bank and pays a fixed rate if you hold it to maturity. A brokered CD, on the other hand, is purchased through a brokerage and often offers access to higher rates and a wider range of issuers. Brokered CDs can be sold before maturity, while bank CDs… read more…
Real Estate Investing
FHA vs. USDA Loan: Requirements and Costs
Buying a home can feel overwhelming, especially when you’re trying to decide which mortgage program is right for you. When exploring government-backed loans, FHA and USDA options both promise affordable paths to homeownership. However, each serves different financial needs and lifestyles. Understanding how each loan works, from eligibility and down payments to insurance costs, can… read more…
Tax Planning
Dependent Care FSA: High Income Earners
For high-income earners, balancing a demanding career with the rising costs of childcare can quickly become a financial juggling act. Even families earning six figures can find that daycare, nannies or after-school programs absorb a surprising portion of their budget. That’s where a Dependent Care Flexible Spending Account (FSA) comes in. As a tax-advantaged tool,… read more…
Retirement Planning
Traditional IRA vs. Rollover IRA: Key Differences and Examples
If you have ever changed jobs or you have already started saving for retirement, you have likely encountered both Traditional IRAs and Rollover IRAs. However, these two similar-sounding accounts can play very different roles in your financial future. Knowing how each works can mean the difference between maximizing your tax advantages and making costly mistakes.… read more…
Mortgage
VA Loan vs. Conventional Loan: Pros and Cons for Homebuyers
Buying a home is one of the biggest financial decisions you will ever make, and choosing the right type of mortgage can make all the difference. For many buyers, the choice often comes down to a VA loan or a conventional loan, and each has its advantages, requirements and long-term implications to consider. Whether you… read more…
Tax Planning
Tax Credits for Students: Tips and Strategies
Paying for college can feel overwhelming, but smart tax planning can make a real difference. The IRS offers several education tax incentives to help students and families cut costs, lower their tax bill and even get a refund. Whether you are an undergraduate or graduate student or a parent supporting a student, understanding how these… read more…
RMDs
Does a Roth Conversion Count as an RMD? Retirement Tax Guide
When it comes to managing retirement income, taxes can be one of your most significant and overlooked expenses. Many retirees wonder whether converting their savings to a Roth IRA can help satisfy their required minimum distributions (RMDs) and reduce their tax burden. It is a smart question, but it is also a common point of… read more…
Pensions & Other Retirement Accounts
Do Pensions Run Out of Money? Rules and Risks
For generations, pensions have been regarded as the gold standard of retirement security, offering guaranteed income you can count on for life. However, funding gaps, longer life expectancies and economic volatility have put pressure on many pension plans. It begs the question: do pensions run out of money? Understanding the rules, risks and options for… read more…
Pensions & Other Retirement Accounts
Can I Withdraw From My 457 While Still Employed?
Planning for retirement often comes with questions about when and how you can tap into your savings. One such question many people ask is, “Can I withdraw from my 457 while still employed?” Unlike other retirement accounts, 457 plans (also known as 457(b) plans) have their specific rules and exceptions that can make them both… read more…