- 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 in which assets are managed by a trustee without the owner’s input or knowledge. 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 investments. In a blind… 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 a Financial Plan and How Do You Build One?
A financial plan is a comprehensive overview of your financial goals and the steps you need to take to achieve them. Financial plans are usually written down in physical documents to ensure that it is concrete and final. Many people… read more…