How Can a Trust Own an Annuity?
Annuities can offer a steady stream of income when you need it most, while trusts provide a structured way to manage and protect your assets for the benefit of your loved ones. But what happens when you consider combining these two powerful tools? Can a trust own an annuity, and if so, what are the… read more…
How Mutual Funds Can Be Used for Retirement
Mutual funds are commonly used for retirement planning because they offer diversification, professional management and reduced risk when compared with other investments. These investment vehicles pool money from multiple investors to buy a diversified portfolio of stocks, bonds, or other securities, with each investor owning shares proportional to their investment. A financial advisor can help… read more…
What Is Pension Maximization?
Pension maximization is a strategy used by individuals who have a traditional pension plan to potentially increase the amount of retirement income they receive. With traditional pension plans, retirees typically have the option to choose between different forms of payout, such as a single-life annuity or a joint-and-survivor annuity. Pension maximization involves selecting the single-life… read more…
How a 457(b) Plan Works After Retirement
Government employees, or those of a charity or religious organization, might have the opportunity to invest in a retirement account called a 457(b) account. These are tax-advantaged accounts that can help you effectively save for retirement, but they are subject to rules and laws that you must comply with to keep the tax-advantaged status. Additionally,… read more…
Editor's Picks
CFA vs. CFP: Which Do You Need?
Chartered financial analyst (CFA) and certified financial planner (CFP) are common certifications for individuals working in finance, namely financial advisors. These are designed to tell a client (or employer) that the holder has received education in certain types of financial… read more…
5 Tips for Choosing a Wealth Management Firm
Wealth management firms are all different, with their own specializations and services. As a result, the process for choosing a wealth manager is a very personal one. Wealth managers work closely together with their clients to identify financial goals and… read more…
What Is a Fee-Only Financial Planner?
If a financial planner, financial advisor or another type of financial professional is fee-only, that means they receive compensation solely from the fees clients pay for their services. They do not earn commissions for recommending certain products. A fee-only structure… read more…
Why First Homes Could Be Investment Properties
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 people wait until after they’ve bought their first or second home to begin investing in… read more…
Data Articles and Studies
Women Make Up to 37% Less Than Men in Some U.S. Counties – 2024 Study
Different factors can affect the gender pay gap, depending on where you live. Family economics, social values and gender selection trends among different industries, can each contribute to the gap in a given economy. While no one factor alone may explain the whole story, there are noticeable trends in women’s pay compared with men’s that… read more…
Where Americans Write Off the Most in Taxes – 2024 Study
With strategic planning, Americans can reduce their tax liability via tax deductions and credits. Common deductions include qualified mortgage interest payments, student loan interest, property taxes and other expenses. Taxpayers have the option to itemize deductions above and beyond the standard tax deduction. For the 2023 tax year, the standard deduction is $13,850 for individuals… read more…
States That Added the Most CFP® Professionals – 2024 Study
The total number of CFP® professionals in the U.S. grew by 11.5% over the last three years, with a net of more than 10,000 individuals added to the profession. But this growth was not equally spread across the country, and some demographic trends were more dominant than others. Observing such trends could lend a strategic… read more…
Salary Needed to Live Comfortably – 2024 Study
While cost of living premiums and inflation metrics capture the price increases in goods and services, they do not necessarily account for all the additional costs needed to live comfortably – such as a buffer from the stress of living paycheck to paycheck. The 50/30/20 budget recommends that for sustainable comfort, 50% of your salary… read more…
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