When John recently lost his wife Betty to cancer, their children were surprised to find out that neither John nor Betty had life insurance. As a result, the children ended up paying the cost of the funeral, and John, currently on a fixed income, is left contemplating whether he can afford to stay in the home they had lived in for over 25 years.
Certified Financial Planners (CFP) can stand out from a rather crowded field of financial professionals for a variety of reasons. One of the most important reasons is that Certified Financial Planners are mandated to act as a fiduciary, meaning that they are required to put their client’s interests and needs ahead of his or her own.
Steve Lynch – CERTIFIED FINANCIAL PLANNER™ “How do you do anything without a plan?” In 1982, I fell in love with the idea of Financial Planning because it made so much sense to me. I could not believe anybody would do it any other way. This is how it was explained to me back in 1982.
Being financially literate in today’s economic climate is more important than ever. Understanding finances can help you make better money management decisions, budget your money properly, adequately save for college, and be financially prepared for retirement. While it may sound daunting, financial literacy starts with a budget.
More than 60 million Americans had their identities stolen in 2018, a significant increase from 2015, where more than 15 million consumers were affected. With identity theft numbers on the rise, it certainly doesn’t appear likely that scammers are going away anytime soon.
As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions. But for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option.
If you’ve only just begun your career and are starting to collect a decent paycheck, the last thing on your mind is probably retirement planning. When you’re in your twenties and thirties, retirement can feel light years away, but it will get here much quicker than you can imagine. And when it does, you’ll want to be prepared.
The American Institute of CPA’s (AICPA) recently published a list of personal finance trends that we should all be concerned about. These trends highlight the fact that almost 63 percent of Americans today are unable to pass a basic financial literacy test.
Here are the troubling trends, as well as some tips on how to avoid them:
Data breaches, once a fairly rare occurrence, have become more frequent as hackers become more skilled in their ability to extract personal data from popular social media sites such as Facebook and Twitter.
There are many ways that we support our favorite charitable causes. However, one of the most beneficial ways to support a favorite charity now and into perpetuity is through planned giving.