For me, the beginning of a new year always feels like a fresh start. It’s a chance to reflect on the past year – what you’ve accomplished and what you didn’t – and set meaningful goals for the year ahead. As we dive into 2025, consider these five areas as you create your goals: 1. […]
In today’s world, navigating the endless stream of financial news and advice can feel overwhelming. How do you cut through all the noise to find genuinely helpful information? By learning how to approach financial media strategically, you can filter out the distractions and focus on insights that truly matter. Here are some tips to help […]
With open enrollment for Medicare starting on October 15th, it’s crucial to review the changes coming to Medicare plans in 2025. These changes are significant, marking the most substantial updates since Part D plans were first introduced in 2006. Whether you’re on a Medicare Part D or Medicare Advantage plan, it’s essential to understand these […]
With short-term interest rates still at the highest levels in the past 15 years, managing your cash wisely is more important than ever. Essentially, good cash management involves finding a balance between having enough liquidity for your cash flow needs and generating a reasonable return on your cash. As you fine-tune your cash management strategy, […]
Football season is back, and fans are gearing up for tailgates, debating big plays, and celebrating wins. But beyond the excitement of touchdowns and tackles, there are striking similarities between the strategies used on the football field and the principles of personal finance. The Game Plan: Assessing Your Position and Setting Goals Just like football […]
Creating a trust is a powerful way to help manage and protect your assets. Both irrevocable and revocable trusts offer distinct benefits. Let’s explore how each type works and the differences between the two. Before we get into the details, it is crucial to understand the key terms associated with trusts in general: Grantor: The […]
While there are different ways to transfer assets to the next generation, trusts provide unique advantages that can significantly enhance estate planning strategies. They can offer tax efficiency, protection for beneficiaries, special provisions for those with special needs, and a level of privacy not available with other estate planning tools. For these reasons, many Americans […]
Investing can be complex, especially when financial terminology is introduced. One of the key concepts to grasp is the difference between real and nominal rates of return. Understanding this distinction can help investors preserve and grow their wealth effectively over time. What are Nominal and Real Rates of Return? The nominal rate of return is […]
Financial planning in your 70s takes on a new dimension, primarily balancing the need to maintain your lifestyle with the realities of aging. The following addresses the common challenges faced during this stage of life and strategies to help navigate them effectively. Manage Portfolio Risks One of the primary challenges people face in their 70s […]
In your 60s, the window for planning and preparing for a comfortable retirement is getting shorter. While many people intend to keep working during their 60s and beyond, developing a retirement mindset is important to help protect your finances from being vulnerable to a catastrophic setback. There are a few financial considerations to remember as […]