- What Is Disposable Income (and What Isn’t)?
Disposable income is a key concept in budgeting, as it refers to the income that’s left over after you pay taxes. It’s sometimes known as your net pay. Note that this is distinctly different from discretionary income, which is what… read more…
- What Is the Average Real Estate Agent Salary?
Successful real estate agents can make good money. Real estate agent salary earnings come from commissions on property sales. And total income can vary widely depending on experience and other factors. It’s important to consider salary opportunities when choosing a… read more…
- Financial Therapy: What Is It, and Do You Need It?
Dealing with your finances can be very stressful. Financial therapists work to lessen that stress, or at least help their clients develop a more sustainable and healthy relationship to money. Financial therapy is a brand new field, but more people… read more…
- 10 Financial Strategies to Reach Your Money Goals
Setting goals for your money is the first step in designing a sound financial plan. Whether you hope to save and invest enough to retire early or simply need to build up an emergency fund, the right financial strategy can strengthen your efforts in… read more…
- What Is an Amortization Table and How Does It Work?
An amortization table shows the schedule for paying off a loan, such as a mortgage. Learn how to make and use one to determine your own loan payoff schedule. You could use the amortization table for other types of loans… read more…
- Top Financial Planning Software Program Options for 2024
Having a plan for your finances is crucial, and a comprehensive financial plan may include budgeting, saving, investing, paying off debt and creating a roadmap to retirement. Working with a financial advisor can be helpful in creating your personal money plan,… read more…
- What Is an M&A Advisory Firm?
An M&A advisory firm guides businesses through the complicated world of mergers and acquisitions. If you are considering making a transaction that involves the buying, selling or merger of companies, you’ll probably want to work with an M&A advisory firm, which… read more…
- What Is a Paraplanner and What Do They Do?
A number of professions recognize the role of that supportive personnel trained in specified ways play in their work. Among the best known examples are paralegals and paramedics. Financial planners also have such a designation and it’s called “paraplanner.” Such… read more…
- What Is an RIA Firm and What Do They Do?
A registered investment advisor (RIA) is an individual financial advisor or advisory firm that gives investment advice to clients. All RIAs register with either the U.S. Securities and Exchange Commission (SEC) or a state-level authority. Part of the reason why working with… read more…
- What Is Financial Security, and How Do You Get It?
Financial security means different things to different people. To some, it may mean having enough money to cover all your bills, save for retirement and then have some left over. To others, it may mean earning a six- or seven-figure income, maintaining… read more…
- What Is a Marital Trust, and How Does It Work?
A marital trust is a type of irrevocable trust that allows you to transfer assets to a surviving spouse tax-free. It can also shield the estate of the surviving spouse before the remaining assets pass on to their children. Knowing… read more…
- What Employees Should Know About Severance Packages
The most important component of a severance package is, of course, the severance pay. It, in turn, is typically one or two weeks of pay per year of service, though it’s much more than that for executives. Most of us… read more…
- What Is a Broker-Dealer, and What Do They Do?
A broker-dealer is the regulatory term for what most of us just call a brokerage. Technically, the person who takes our calls (to buy or sell) is a registered representative of a broker-dealer, though you probably just refer to the… read more…
- What Is a Prenup, and How Do You Make One?
Prenuptial agreements, commonly known as prenups, are agreements that couples sign before marriage. They specify how assets will be divided in the event of a divorce. Prenups have become more common and less taboo in current times. However, misconceptions about… read more…
- What Is Financial Planning? Definition, Meaning and Purpose
Financial planning is the process of taking a comprehensive look at your financial situation and building a specific financial plan to reach your goals. As a result, financial planning often delves into multiple areas of finance, including investing, taxes, savings,… read more…
- What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy, also known as a wage earner’s plan, is a court-approved process that lets you create a repayment plan to cover most or all of your debt over the course of three to five years. Through this process,… read more…
- Pension vs. 401(k): Comparing Retirement Plans
Pensions once held the distinction of the most popular employer-sponsored retirement plan in the country. However, due to the much higher cost on employers, pensions have become significantly less popular, especially for non-government employees. In their place, more employers are offering… read more…
- How to Set Up a Blind Trust
A blind trust is a legal arrangement where assets are managed by a trustee without any input or knowledge from the person who owns them. This type of trust can be helpful for individuals who want to avoid conflicts of interest, such as politicians or executives, by separating themselves from the direct oversight of their… read more…
- What Is an Enrolled Agent?
If you’ve ever filed your tax returns on your own, you know that it can be a complicated process, especially if you’re itemizing deductions. That’s why many people turn to tax preparers or financial advisors to help them navigate the… read more…
- What Is the Cost of Having a Baby?
For many expectant parents, one question looms above everything else: how much does it cost to have a baby? While you might be tempted to forget about this to focus on more exciting things like decorating your nursery and buying… read more…
- What Is NAPFA (National Association of Personal Financial Advisors)?
According to NAPFA, 60% of U.S. adults don’t have a budget and less than 50% of Americans have a purposeful savings plan. Luckily, financial advisors exist and can help you get out of your budget-less rut. You’ll have to be careful about who… read more…