In addition to typical spring cleaning tasks, you may want to take this time to focus on your finances. In particular, now may be as good a time as ever to evaluate your debt situation and try to reduce and/or eliminate any debt obligations you may have. Here are some tips to get you started.Details
The Advisor’s Corner is a resource for the community that offers insightful information into personal financial considerations and business financial issues.
The articles cover a broad range of topics, and we hope that you will find them useful in helping you to think about getting your fiscal house in order. Economic Empowerment starts at home.
Working with a trusted financial professional is one of the best ways to help improve your overall financial situation, but it’s not the only thing you can do. Educating yourself about personal finance concepts can help you better understand your advisor’s recommendations, and result in more productive and potentially more prosperous financial planning discussions. Take this brief quiz to see how well you understand a few of the basics.Details
The word “millionaire” typically conjures up images of a lavish, jet-setting lifestyle, but behind the scenes, that may not always be the case. Like Warren Buffett, who famously still lives in the relatively modest house in Omaha, Nebraska, that he bought in 1958 for $31,500, many millionaires (and billionaires) live a modest, if not downright frugal lifestyle–a lifestyle that may have helped them become millionaires in the first place.Details
If you’ve ever had trouble finding an important financial document, you know why it’s necessary to keep your financial records organized. Less clutter means less stress, and though you’ll need to commit a bit of time up front to organize your files, you can save time and money over the long term when you can find what you need when you need it.Details
If you’re entitled to a distribution from your 401(k) plan (for example, because you’ve left your job, or you’ve reached age 59½), and it’s rollover-eligible, you may be faced with a choice. Should you take the distribution and roll the funds over to an IRA, or should you leave your money where it is?Details
When you were saving for retirement, you may have pursued an asset allocation strategy that balanced your needs for growth, income, and safety. You can take a similar multi-pronged approach to turning your nest egg into ongoing income. One way to do this is sometimes called the “bucket” strategy. This involves creating multiple pools of money; each pool, or “bucket,” is invested depending on when you’ll need the money, and may have its own asset allocation.Details
As a small business owner, you are probably aware of the importance of offering a basic employee benefit package that includes health and disability insurance, and a retirement savings plan. However, recruiting and retaining top talent often requires going above and beyond the basics. By offering creative, low-cost benefit programs, you can differentiate your business from other potential employers.Details
Some everyday examples highlight the importance of a medical directive and a durable power of attorney. Without these documents in place, you and your family could face personal and financial disaster.Details
Both current and potential small business owners face difficult choices when it comes to financial decisions. Many often wonder, “How much risk is too much?” Do you find yourself pondering this question? Although the answer is unique to each business, understanding some of the many types of financial risk may help you make more informed decisions.Details
You might think that those who are rich and famous would be way ahead of the curve when it comes to planning their estates properly, considering the resources and lawyers presumably available to them. Yet, there are plenty of celebrities and people of note who died with inadequate (or nonexistent) estate plans.Details