When people decide that they need to eat healthier or lose weight, they know that they have to change their behavior. That’s easier said than done for most, which is why weight loss programs are so popular; because they provide a system for automatically controlling portions and nutrition.
One of the first lessons of finance we are taught, by our parents or through some basic personal finance course, is to make creating an emergency fund our top priority. Having a reserve of cash equivalent to three to six month’s worth of living expenses is considered the most fundamental principal of financial security.
All investors – be they conservative, moderate or aggressive – need to understand that the level of returns they expect to generate is directly related to the amount of risk they are willing to assume – the higher the return, the higher the amount of risk one needs to take.
Most people couldn’t bear the financial hardships resulting from unexpected events, such as a major house fire, a car accident, a disability or the premature death of a family breadwinner, which is why one of the most important component of a sound financial plan should be your personal risk management strategy.
An increasing number of Americans are facing an uphill battle just trying to save enough and earn enough on their savings to be able to retire on time.
With the holiday season looming, it’s not too soon to do your year-end tax planning. One of the consequences of achieving financial success is that, what was once a relatively straightforward tax return increasingly becomes more involved as more tax issues come into the picture.
For anyone approaching retirement you’ve probably got a checklist for your countdown to the big day.
Do I have enough saved for a long, financially secure retirement? Check.
Did I file the right paperwork at the office? Check.
Is my professional exit strategy in place and ready? Check.
If given the choice, most people would choose financial freedom over financial servitude. Who doesn’t want to be financially independent where their money is working for them as opposed to them working for money?
It’s no secret to any parent with aspirations of sending their children to college that the cost of doing so is quickly inching beyond the reach of even the most affluent families. According to the College Board, which surveys college pricing annually, the average cost for an in-state public college in 2013-2104 is $22,826, and $44,750 for a private college.
In our discussions with clients, the term “wealth” has always been tossed about somewhat loosely. We talk about building wealth, wealth management, wealth enhancement, and wealth preservation and wealth in general as if it were universally understood.