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Personal Finance
Sep 27, 2022

Getting married is a special time in the lives of many people. However, not all marriages end up in wedded bliss. To protect themselves in case of a divorce, some couples create a prenuptial agreement that spells out financial obligations in case they split up. A postnuptial agreement, on the other hand, is written after marriage to outline protections and ownership of assets in case the marriage dissolves. You can speak to a financial advisor if you’re not sure how to financially prepare for marriage, whether you’re currently married or not.  Read More...

Mortgage
Sep 27, 2022

The conventional wisdom suggests that now is a terrible time to buy a home. In September, the average rate for new 30-year mortgages hit 6.29% according to the St. Louis Federal Reserve, almost triple their 2021 low of 2.65%. At the same time, the median sale price for houses continues to climb, most recently reaching $440,300. While the market’s rate of growth has slowed down, houses continue to get more expensive. So with asking prices still on the rise and loans nearly three times more expensive than they used to be, it’s no wonder many are advising against buying a house at this junction. It makes a surface level sense. Rising interest rates will make monthly mortgage payments considerably more expensive, so buyers should wait until those prices come down. Except financial and housing experts say it isn’t that obvious. In fact despite or even because of rising mortgage rates, now might actually be an excellent time to buy a home. If, and this is a very big if, you intend to stay there for a while. Here’s why. For more help understanding whether buying a home in this environment is right for you and strategizing your overall financial plan, consider meeting with a trusted financial advisor. Read More...

Financial Advisor
Sep 27, 2022

A 529 plan can be a powerful way to save for college, offering tax-free growth and other tax benefits. These accounts are so powerful, in fact, that many grandparents choose to open them for their grandchildren. In the past, there was a downside to a grandparent 529, though. Distributions from these accounts were included on the Free Application for Federal Student Aid (FAFSA), which had a negative impact on a student’s federal financial aid eligibility. However, new changes to the FAFSA form mean that grandparents can now contribute to a 529 for their grandkids without hurting the student’s ability to get federal financial aid. Here’s how the grandparent 529 loophole works. A financial advisor could help you put a financial plan together for your family’s education needs and goals. Read More...

Financial Advisor
Sep 27, 2022

Alimony is a court-ordered sum that one former spouse must pay to another due to a separation or divorce agreement. You might sometimes hear about spousal maintenance or spousal support, which are other terms for alimony. This typically happens when the court decides that the lower income earner has earned the right to a minimum standard of living from the higher income earner. You can work with a financial advisor to help you navigate paying or receiving alimony by creating a financial plan.  Read More...

Editor's Picks

Taxes

Aug 04, 2022 If you're like most people, you dread tax season. But if you're expecting a tax refund, you may have something to look forward to. Most…

Financial Advisor

Aug 04, 2022 Chartered financial analyst (CFA) and certified financial planner (CFP) are common certifications for individuals working in finance,…

Investing

Apr 29, 2022 Wealth management firms are all different, with their own specializations and services. As a result, the process for choosing a wealth…

Financial Advisor

May 16, 2022 If a financial planner or financial advisor is fee-only, that means they receive compensation solely from the fees clients pay from their…

Mortgage

May 12, 2022 If you’re young and looking to purchase a new home to live in, you may want to consider turning it into an investment property. While most…

Data Articles and Studies

Financial Advisor
Mar 11, 2021

The number of registered investment advisors (RIAs) in the U.S. is growing, as are the number of clients they serve and assets they manage. According to an annual report published jointly by the Investment Advisor Association and National Regulatory Services, there were 13,494 RIAs in 2020 – about 11% more than there were in 2017 (12,172). Last year, those advisors reported a total of 42.1 million clients and $97.2 trillion in regulatory assets under management (AUM) – roughly 18% and 37% more, respectively, than the number of clients and assets reported three years prior. Read More...

Checking Account
Jan 07, 2021

Since the onset of COVID-19, remote work has become the norm for many Americans, allowing them to continue to meet some of their expenses while saving where possible. In the late spring of 2020, about half of American workers were working from home, according to two surveys conducted by the National Bureau of Economic Research. Many researchers believe that increased work flexibility and work-from-home opportunities may continue even after the pandemic is over. With that in mind, SmartAsset looked at the best cities to work from home in 2021. Read More...

Checking Account
Feb 18, 2021

The Bureau of Labor Statistics (BLS) says that computer and information technology jobs are expected to have grown by 11% from 2019 to 2029, adding 531,200 new jobs in cloud computing, big data storage and collection and information security. The median annual wage for those jobs in May 2019 was $88,240, which is $48,430 higher than the median annual wage for all occupations. Read More...