Our Commentary

Life Insurance: Group Term vs. Private Term

Most people understand why life insurance is important to their finances – it shifts the financial risk of premature death from the policyholder to the insurance company. However, many people do not understand the types of policies and the protection they provide. So, let’s break it down by looking at two common types: group term […]

The Basics of Life Insurance: Part 2

How Much do I Need? Determining the right amount of life insurance coverage can be a daunting task, as there are varying opinions on how much coverage is needed. Some professionals suggest 8x your annual income, while others recommend 12x, or even 20x. The maximum coverage life insurance companies usually offer is around 25x your […]

Are You On Track For Retirement?

Fidelity Investments has created a set of guidelines to help individuals benchmark their savings progress at different ages throughout their careers. Although the guidelines are broad and individual circumstances may differ, they provide useful markers for tracking one’s savings goals over time. The guidelines are based on your current annual income and are as follows: […]

To Retire or Not… That is the Question

F&G Annuities & Life, Inc. surveyed more than 2,000 pre-retirees and retirees to understand their perception of retirement. Surprisingly, the survey revealed that over 50% of participants decided to postpone retirement or planned to ‘un-retire.’ Many may assume that the primary reason for this is the need for financial support to fund the retirement lifestyle. […]

The Basics of Life Insurance: Part 1

Life insurance is an important piece of financial planning basics, particularly for those who are working towards financial security and independence. Whether you are not quite sure what life insurance is, or you are just curious and want to learn more, the topics below may help you better understand life insurance and how it can […]

Home Equity Lines of Credit: Do’s and Don’ts

The Federal Reserve Bank of New York recently published the 2nd quarter Household Debt and Credit Report. For the fifth straight quarter, the report shows an increase in the use of Home Equity Lines of Credit (HELOC). The rise in usage could be the result of consumers feeling more pressure from high inflation and already […]

Taylor Swift and the Time Value of Money

Taylor Swift’s Eras Concert Tour is taking the country by storm, with hundreds of thousands of concertgoers paying an average of $1,300 to see the renowned music superstar perform. While it’s natural that people are eager to indulge in experiences like concerts and travel after the pandemic, it’s important for consumers to remember that spending […]

Helping Adult Children Achieve Independence

According to a recent study conducted by Experian, a national credit reporting agency, 70% of millennial and Gen Z (ages 18-42) participants reported receiving financial support from their parents. Times are undoubtedly tough financially due to higher food, gas, rent, and housing costs. Still, it may be time for parents to use some tough love […]

The Importance of Wills: A Lesson From Aretha Franklin

Aretha Franklin, known as the Queen of Soul, left behind a musical legacy and an important lesson in estate planning. Even after five years of her passing in 2018 due to pancreatic cancer, her children are still settling matters regarding her estate, estimated to be worth $10 million. The reason for the delay was that […]

Estate Planning: When To Include Children

Developing a detailed estate plan is a vital component of the financial planning process.  Although children are not always consulted during the execution of estate plans, there are some circumstances where they should be involved, or at the very least, informed of the details.  Below are a few of these instances: Children Given Responsibilities: When […]