Heading out of town for fun, rest and relaxation? Thinking about renting your space out for vacationers? Don’t forget your sunscreen and make sure you have planned for the unexpected. Continue reading
Category Archives: Financial Planning
What to Know When Receiving an Inheritance
If you’re the beneficiary of a large inheritance, you may find yourself suddenly wealthy. Even if you expected the inheritance, you may be surprised by the size of the bequest or the diverse assets you’ve inherited. You’ll need to evaluate your new financial position, learn to manage your sizable assets, and consider the tax consequences of your inheritance, among other issues. Continue reading
Retirement Confidence Improves for Workers but Declines for Retirees
In its 28th annual Retirement Confidence Survey, the Employee Benefit Research Institute (EBRI) discovered that 64% of today’s workers feel very or somewhat confident in having enough money to retire comfortably, up from 60% in 2017. And although far more retirees are very confident in their retirement prospects than workers (32% versus 17%, respectively), retiree confidence in their ability to meet basic expenses and medical expenses dropped from the previous year. Moreover, both workers and retirees question the role Social Security will play in future retiree income. Continue reading
Retirement Planning at All Stages of Life
Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, are starting a family, are enjoying your peak earning years, or are preparing to retire, your employer-sponsored retirement plan can play a key role in your financial strategies. Continue reading
When to Refinance Your Mortgage
To determine if refinancing your home mortgage is worthwhile, you’ll have to weigh the costs of refinancing against how long it will take you to recoup those costs. Continue reading
Evaluating an Early Retirement Offer
In today’s corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you’ve received is a good one? By evaluating it carefully to make sure that the offer fits your needs. Continue reading
My company has a profit-sharing plan. How do these plans work?
A profit-sharing plan is a defined contribution plan in which your employer has discretion to determine when and how much the company pays into the plan. The amount allocated to each individual account is usually based on the salary level of the participant (employee).
How to Estimate Your Retirement Income Needs
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors Continue reading
6 Ways Your Finances Affect Your Relationships
If you can’t help falling in love, and you think that love will keep you together remember that the power of love is not enough if you and your spouse cannot agree on how to handle your finances.
Ok, enough of the romantic puns!
According to Psychology Today*, money issues are the top reason relationships fail. Arguments over money tap into some of our deepest emotional needs and fears, such as trust, safety, security, power, control, and survival. Continue reading
Test Your Knowledge of Financial Basics
How well do you understand personal finance? The following brief quiz can help you gauge your knowledge of a few basics. In the answer section, you’ll find details to help you learn more.
