What does financial freedom mean to you? It could give you the opportunity to pursue personal goals and milestones while shouldering less of a financial burden. It’s true. Money can’t buy happiness. You can’t simply walk into a store and purchase it over the counter or off the shelf. It can, however, open avenues that allow you to pursue happiness,…
During periods of market volatility, investors may look to alternative vehicles. Here are some options to consider. 2022 was a difficult year for investors, with all three major market indexes dipping simultaneously and taking their biggest hit since the housing crisis of 2008[1,2,3]. Now, even with all three up through the first five months of 2023, volatility and uncertainty are…
Though the United States may avoid a full-fledged recession, it’s undoubtedly a difficult time to be a consumer. Here are some ways to protect yourself. The fear of a recession looms large, and though it isn’t certain that we’ll enter recession territory in 2023, there’s no doubt we’re in a period of constraint for consumers. Inflation is still high despite…
September is “Life Insurance Awareness Month.” Is your family using life insurance in the right ways as part of your comprehensive financial plan? Here are five reasons you should consider life insurance. You Have a Young Family1 Even though the pandemic has shown us all the need for financial protection for the family from sudden death or disability, there are…
Budgeting can help you achieve your goals faster. Once you realize that budgeting can help you achieve the goals you’ve set out for yourself, you may find the process inspiring. Think of your budget as a spending plan Think of your budget as your “how-to” plan for spending your money rather than what you “can’t” spend. The upside is that…
Spring is here! Time to get your finances in shipshape condition. Here are five ideas to get you started. Check your credit reports. While you’re reviewing your expenses and debts in order to see how you are faring in terms of staying within your personal budget, make sure that there aren’t any expenses or debts on your credit report…
No matter how long you have been together, financial issues can wreak havoc on a committed relationship. According to Investopedia, some of the top money issues between partners include money/personality style clashes, debt, personal spending, children, and extended family differences. When couples don’t agree about spending and saving habits, it can lead to stress, arguments and resentment. Here are seven…
Numbers to know for the new year. On October 26, the Treasury Department released the 2021 adjusted figures for retirement account savings. Although these adjustments won’t bring any major changes, there are some minor elements to note. 401(k)s. The salary deferral amount for 401(k)s remains the same at $19,500, while the catch-up amount of $6,500 also remains unchanged. However, the…
October is Financial Planning Month which serves as a useful, annual checkpoint to make sure you are on track to meet your financial goals. A written, up-to-date financial plan encompasses not only investments, but risk management solutions, tax reduction strategies and estate planning. 10 Reasons You Need a Financial Plan 1. To have one comprehensive document to address your finances….
The coronavirus has given us all a lot of stress, as well as a lot of free time to think. If you’re postponing your summer vacation plans, now may be the perfect time to implement some financial planning “to-do’s” that could enhance your personal wealth and financial well-being. Here are seven things to consider: 1. Is there too much risk…
Here are six things you need to know if you or a family member has been furloughed—or laid off—from their job A furlough is an unpaid leave of absence. You don’t report to work, you don’t get paid, and you may lose some of your benefits. Getting fired or laid off is different because it is permanent; whereas, being furloughed…
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