It seems as though there’s always a hurricane, tornado, earthquake, flood, fire, blizzard, or mudslide happening somewhere in the United States. A storm or other natural disaster could destroy your home, business, or workplace and put you in financial straits, but there are things you can do both before and after the event to help you recover quickly.
No matter how many years you are from retirement, it’s essential to have some kind of game plan in place for financing it. With today’s longer life expectancies, retirement can last 25 years or more, and counting on Social Security or a company pension to cover all your retirement income needs isn’t a strategy you really want to rely on. As you put a plan together, watch out for these common myths.
What is your business’s key to success? Unique products, flawless customer service, nimble operations–or something entirely different? As a business owner, you may instinctively know what makes your organization succeed in today’s competitive marketplace. A business plan helps you share that knowledge with important stakeholders–including key employees and potential investors and lenders.
When times are tough, that pool of dollars sitting in your 401(k) plan account may start to look attractive. But before you decide to take a plan loan, be sure you understand the financial impact. It’s not as simple as you think.
Do you remember The Game of Life®? In Milton Bradley’s popular board game, players progress through life stages making decisions that affect their prosperity. Like those players, today’s generations face financial decisions with lasting effects. Here are some tips for staying focused despite life’s ups and downs.
The new year is the time when many individuals start making resolutions to live a healthier lifestyle. And while resolving to eat better and exercise more is a good thing, you should be sure to make resolutions that pertain to the overall health of your personal finances as well.
Despite the uncertainties–or perhaps because of them–it might be worth starting early to look at various “what-if” scenarios in case you need to make last-minute chnages to your portfolio. Even though you may not be sure of exactly what will happen in 2013, here are some factors to keep in mind as you plot your year-end strategy.
College is expensive. For some fortunate students, grandparents are stepping in to help. This trend is expected to accelerate as baby boomer grandparents start gifting what could be trillions of dollars over the next few decades. Helping to finance a grandchild’s college education can bring great personal satisfaction and can be a way for grandparents to minimize potential gift and estate taxes. Here are some common strategies.
Imagine playing a complicated game, but the rules of the game are changing, and the new rules have yet to be announced. That’s what income tax planning is like this year. In fact, if there was ever a year to spend some quality time with your financial professional, this is it. Here are a few items to discuss.
You may have heard about new disclosure rules that will soon apply to 401(k) plans. Before describing what’s ahead, however, a look back may be helpful. (While we’ll refer to 401(k) plans in this article, the new rules also apply to other employer-sponsored plans that allow participants to direct their own investments, commonly referred to as “self-directed plans.”)