- How Is Alimony Calculated in California (CA)?
This alimony system was built around the idea that the job market significantly disfavored women, so a divorced wife could rarely support herself. As a result, alimony often required a significant division of future income for either life or until the recipient remarried. Most states have changed this system in whole or in part. Alimony, today,… read more…
- How to Achieve Retirement Security With a Financial Plan
Personal finance can be daunting, but with a well-crafted financial plan, you could map a course to help reach your financial goals with confidence. A financial plan is a comprehensive strategy that is tailored to your unique financial situation and encompasses budgeting, savings, investments, insurance and estate planning. Whether you’re preparing for major milestones or… read more…
- I Have $900k in a Roth IRA and Would Receive $2,200 Monthly From Social Security. Can I Retire at 66?
Imagine that you have $900,000 in a Roth IRA and collect another $2,200 per month in Social Security. Can you afford to retire at age 66? A good way to answer this question is to start with your budget. What do you expect to spend on essentials, like housing and fixed monthly expenses, and what… read more…
- Income-Based Repayment (IBR) vs. SAVE for Student Loans
If you owe money on a federal student loan, you may be able to qualify for a repayment plan that will lower your payments and, ultimately, provide for partial forgiveness of the debt. Income-Based Repayment (IBR) and Saving on a Valuable Education (SAVE) are two popular repayment plans that include forgiveness. The two plans are… read more…
- How Is Debt Divided During a Divorce?
During a divorce, debt is handled the same as assets. This means, primarily, that courts will try to follow two rules. First, courts will distribute debt based on its marital and pre-marital status. Debt that someone held before the marriage will, in general, remain entirely with that individual. Debt the couple accrued during the marriage… read more…
- Gift Tax Calculator: Do You Owe Gift Taxes?
If you’re giving away money or property, you may be subject to the federal gift tax depending on how much you give and who receives it. The gift tax is distinct from, but closely tied to, the estate tax, which applies after death. Both are part of the same federal system for taxing the transfer… read more…
- How Permanent Alimony Works During Retirement in Florida
In July, 2023, Florida eliminated permanent alimony as a category from its divorce statute. Going forward, alimony payments in Florida will be based on set terms. Payments will expire either after a specific amount of time has passed or once specific conditions have been met. This means that spouses can now plan for an end to… read more…
- How Child Support Is Calculated in California
Like all states, California uses a formula to calculate the exact amount of child support that a parent owes. This formula result is then applied and modified by a family court judge, who produces a final child support order. Family courts have broad discretion to modify child support based on their impression of the child’s… read more…
- How to Build a Financial Planning Training Program
As financial markets grow in complexity and the demand for tailored financial advice continues to escalate in the U.S., a variety of training programs can provide the necessary education for both aspiring and seasoned financial advisors. These lessons could span from investment strategies to tax planning and retirement, as well as estate management and other… read more…
- 7 Major Financial Checkpoints: How Do You Stack Up?
When it comes to financial plans, your assets, cash flows and debts all influence the path toward your goals. While talking to a financial advisor can help you establish a comprehensive plan to reach your goals, you can use basic rules of thumb to gauge your current financial position. 1. Housing Ratio (Monthly housing costs)/(Monthly… read more…
- How to Manage Sudden Wealth in 7 Steps
A substantial boost in your personal wealth can happen overnight. You can win the lottery, inherit an estate or profit from a business sale. Many people aren’t prepared for a sudden windfall, making it difficult to know which steps can protect that money and grow it long-term to last a lifetime. If this sounds like… read more…
- What Is the Average Net Worth of a 50-Year-Old?
The typical American household led by a 50-year-old has an average net worth of $897,663, according to Federal Reserve data. This stage of life underscores the importance of consistent wealth-building efforts. Comparing net worth benchmarks by age can serve as a useful reference point for assessing your financial standing. By implementing strategic planning and maintaining… read more…
- What Is a Trade Line and How Does It Work?
When you open a new credit account, financial institutions create what is known as a “trade line.” A trade line is a record of a credit account, including its status and activity, as reported by lenders to credit reporting agencies. It reflects your borrowing and repayment behavior, playing a significant role in shaping your credit… read more…
- What Is a High-Yield Corporate Bond?
Corporate bonds, which are a type of debt security, function as a tool for corporations to raise capital. A high-yield corporate bond offers higher interest rates than a typical corporate bond because it carries a higher risk of default. The “high yield” refers to the greater interest or coupon rate that investors receive as compensation… read more…
- What Is GDC for Financial Advisors?
A gross dealer concession (GDC) gets paid to a brokerage firm when a financial product is sold by a salesperson or financial advisor on commission. These products include securities like stocks, bonds or mutual funds, as well as insurance products like annuities or long-term care. A percentage of that GDC will also get paid to… read more…
- Financial Planning Before, During and After a Divorce
Navigating the complex world of finance is difficult enough on its own, but when you combine it with the emotional upheaval and legal proceedings of a divorce, it can become overwhelming. Financial planning at different stages of the divorce process is vital to minimize financial risks, ensure fair asset division and build a secure financial… read more…
- 7 Financial Planning Strategies for Single Women
If you’re a single woman, most general financial advice also applies to you — but with a twist. As the gender pay gap holds steady, you may need to be a little more vigilant to create an independent financial future. Here… read more…
- How Does High-Net-Worth Lending Work?
If you’re going to the bank for a loan, you might think it would be easier as a millionaire. However, when it comes to high-net-worth lending, more money can mean more problems if the individual doesn’t have conventional income or… read more…
- 11 Financial Planning Tips for Young Adults
Getting your financial footing can be a challenge when you’re young, especially if you have student loan payments or a new mortgage make you feel penniless. However, it’s never too early to start financial planning. By creating a budget, improving… read more…
- 5 Financial Planning Tips for Millennials
Millennials — generally defined as adults born between 1981 and 1996 — face some unique challenges when it comes to financial planning. While the oldest millennials are entering midlife and potentially their peak earning years, the youngest may just be… read more…
- Roth IRA Income Limits for 2026
A Roth individual retirement account (IRA) can be a helpful tool for retirement planning. These tax-advantaged accounts offer a way to save money in addition to what you might be contributing to a 401(k) or similar workplace plan. And if… read more…
- Marriage Dissolution vs. Divorce
If your marriage is coming to an end there are many important decisions that lie ahead. One of the biggest is deciding between a marriage dissolution or a divorce. Both dissolution and divorce are legal processes, and the outcome is exactly… read more…
- What Is Depreciation and How Is It Calculated?
Depreciation is a concept and a method that recognizes that some business assets become less valuable over time and provides a way to calculate and record the effects of this. Depreciation impacts a business’s income statements and balance sheets, smoothing… read more…
- How to Retire in Japan: Costs, Visas and More
Japan is known for bullet trains, amazing cuisine and some of the cleanest, litter-free streets in the world. Overall, the nation is a beautiful place to both visit and live. In addition to its beautiful landscapes, there are plenty of… read more…
- Financial Planning for Couples
Managing the finances of two people is significantly more complicated than doing the same job for a singleton. Couples planning their financial lives often have more concerns, more accounts and more documents as part of their plans compared to two… read more…