- Everything You Need to Know About This Hot Investment That Can Generate Guaranteed Retirement Income
When planning for retirement, there are myriad options for how to invest. The most common option is to use a retirement account — either a workplace plan like a 401(k) or one you get through a financial institution like an… read more…
- What Is a Letter of Credit and How Is it Used?
A letter of credit is a written document from a bank guaranteeing the seller of a product or service will be paid as long as the goods or services are provided, as specified. Letters of credit are widely used as… read more…
- High-Net-Worth Financial Planning
Financial planning is the process of creating a plan for managing your money and assets. High-net-worth financial planning is aimed specifically at individuals and families who have accumulated a greater degree of wealth. If you’re a high-net-worth individual (HNWI), it’s… read more…
- What Is Copy Trading and Should You Do It?
If you want a portfolio that matches the performance of investing pros, copy trading may help. In a nutshell, copy trading emulates a stock market expert’s trading activity. If you think this sounds like a smart strategy, keep in mind… read more…
- Social Security Disability Benefits for Dependents
Social Security Disability Insurance (SSDI) can pay benefits to the family members of someone who is disabled and unable to work. Spouses, children and even ex-spouses of someone receiving SSDI benefits may qualify for their own monthly payments. Each qualifying… read more…
- Private Banking vs. Wealth Management
While some may use the terms private banking and wealth management interchangeably, there are important differences between them. Wealth management typically involves tailored financial planning services, investment management or a combination of both. Private banking usually entails a variety of… read more…
- How Do Medical Savings Accounts Work?
A medical savings account (MSA) is a tax-advantaged account in some Medicare Advantage plans with high deductibles. MSAs resemble the health savings accounts (HSAs) available to members of non-Medicare high-deductible health plans (HDHPs). Medicare funds MSAs with tax-free contributions, and… read more…
- Divorce Process: Step-by-Step Guide
Getting divorced can be much more complicated than getting married. The process required to end a marriage also involves lots more interaction with the legal system and, in some cases, can require the help of attorneys, many thousands of dollars… read more…
- What to Do With an Inheritance
2 Receiving an inheritance from a family member can create a large windfall of cash, and with it, new financial opportunities. What you do with the money will depend on the size of the inheritance, your financial situation and level… read more…
- End-of-Year Financial Planning Checklist
The end of the year means different things for different people as they come up with resolutions and set their intentions to improve various aspects of their lives. But there’s one thing that everyone should do as the calendar starts… read more…
- Revocable vs. Irrevocable Trusts: What’s the Difference?
A trust is an estate planning tool that you may consider using if you want to go beyond drafting a last will and testament. One key thing to decide is whether to establish a revocable or irrevocable trust. Both have… read more…
- Defining an Ultra-High-Net-Worth Individual
In order for someone to be considered an “ultra-high-net-worth individual,” they typically need to have at least $30 million worth of net investable assets to their name. However, this isn’t really a legal definition. As the name suggests, ultra-high-net-worth individuals… read more…
- What Is the Adoption Tax Credit?
Every year, thousands of families in the U.S. have the pleasure of adopting a child and welcoming them into their homes. And as with any growing family, there are expenses associated. To stave off some of the costs that could… read more…
- What Is Shrinkflation?: Financial Planning
Shrinkflation happens when manufacturers reduce the quantity or size of a product without reducing the price. Shrinkflation often crops up when inflation increases manufacturer costs or intensifying competition reduces demand. The effect is equivalent to raising prices, but it may… read more…
- What Is an Indemnity Bond?
Surety bonds are instruments that create a legal obligation for one party to pay another. An indemnity bond is a specific type of surety bond that’s often used in situations where someone is borrowing money. However, you might also be… read more…
- Investing $200 a Month: How Much Will You Make?
Investing as little as $200 a month can, if you do it consistently and invest wisely, turn into more than $150,000 in as soon as 20 years. If you keep contributing the same amount for another 20 years while generating… read more…
- What Financial Advisors Can Do for Lottery Winners
Winning a substantial sum in a state lottery unquestionably can increase a person’s independence, financially and otherwise. However, going it completely alone is rarely the wisest move after drawing a winning ticket for a large prize. Few people of ordinary… read more…
- What Are Income Trusts?
While the boom-bust nature of the stock market can be profitable over the long haul, seasoned investors and risk-averse workers approaching retirement may be looking for a way to get off the roller coaster. Not every investment has the same… read more…
- What Is Alimony: Financial Guide for Divorce
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… read more…
- Passive Income vs. Residual Income
Passive income and residual income are two types of personal revenue that separately or together can have a sizable effect on an individual’s financial comfort and ability to reach financial goals. Passive income is money earned without significant ongoing active… read more…
- How Much Interest Can $75,000 Earn Per Year?
Saving and investing money are two keys to building wealth. The more you have to save or invest, the more your money can grow as it earns interest. There’s a significant difference, for example, between saving $500 and $75,000. So… read more…
- How Much Interest Does $250,000 Pay?
Growing your retirement savings is an important goal for most investors. When you reach $250,000 in your account, it helps to understand how much income you can earn from your savings. While many people use the 4% Rule to determine… read more…
- What Is Disinflation?
Disinflation occurs when the rate of inflation decelerates. During disinflation, wages and prices continue to increase, but the speed of the increase is slower than it was previously. Disinflation is distinct from deflation, which happens when broad measures of wages… read more…
- What Is a Family Trust, and How Do You Set One Up?
Trusts are used to manage estate taxes, shelter assets from creditors and pass on wealth to future generations. A family trust is a specific type of trust that families can use to create a financial legacy for years to come.… read more…
- Americans Say $516K Needed to Achieve Financial Wellness
The key to financial wellness may be a cool half mil. Though the factors determining financial stability may be different to each investor and retirement saver, a recent Empower Retirement and Personal Capital survey found that most Americans believe it… read more…