High Net-Worth executives and those that have been self-employed, can experience common problems in their financial planning journey. Often, they have missed opportunities in their financial planning because they haven’t planned adequately for their retirement even though they make a high income.
When Judy purchased her life insurance policy 10 years ago, she thought her insurance planning was complete. She assumed that if she paid her premiums on time, she could sit back and not think about life insurance anymore. Judy’s life insurance may help to protect her loved ones from future uncertainties, but her policy should not be left to run on autopilot. Life insurance is just like any other piece of your financial puzzle. As your circumstances and needs change, periodic monitoring is needed to help ensure that your life insurance will achieve your desired objectives.
When it comes to 401(k) plans, some people may find themselves a bit confused about the 10% Federal income tax penalty for withdrawals prior to age 59½ and hardship withdrawals from a 401(k) plan.
If one or more of your children will reach college age soon, you may be wondering how you will manage all the costs. For many families, a financial aid package provides some level of tuition support in the form of grants, scholarships, loans, or work-study placements. Aid is primarily based on the family's need. If it is determined that you're able to afford the cost of college, your quest for assistance may be challenging, but not impossible.
Retirement planning is all about the future, your future. Whether you are classified as a millennial, Gen Xers, women, or you are in your 40s-50s, retirement planning is a must. The key to successful retirement planning is starting young because it gives you more time to work towards your retirement goals.
If you pay attention to financial news, you are probably seeing a lot of discussion about inflation, which has reared its head in the U.S. economy after being mostly dormant for the last decade. In May 2021, the Consumer Price Index for All Urban Consumers (CPI-U), often called headline inflation, rose at an annual rate of 5.0%, the highest 12-month increase since August 2008.
As of 2017, about two-thirds of all nonprofit organizations in the U.S. had annual budgets of less than $1 million. For these non-profit organizations where every penny has a purpose, having the services of a financial professional can be incredibly valuable. Below, learn more about the different ways a financial professional can help non-profits succeed.
Though U.S. taxpayers received an extra month to file and pay their federal income taxes in 2021, some are still smarting from having to write a check to the IRS.[1] For many, it can be tough to make the connection between those hard-earned dollars going out the window and the roads, services, and even technological advances that are made possible through taxpayer dollars.
A few days before the official start of summer on June 21st, Wall Street’s eyes and ears were on the Federal Reserve, and as expected, the Federal Open Market Committee (FOMC) made no changes to the fed funds rate or the pace of asset purchases.
The latest Dice Tech Salary report is based on a survey of 9,000 employed technologists across the United States and it provides an insight into the development of salaries in tech sector. Despite the Covid-19 pandemic resulting in significant changes, the traditional principles driving salary growth have remained in place.
On May 7, 2021, the Colonial Pipeline, which carries almost half of the East Coast's fuel supply from Texas to New Jersey, shut down operations in response to a ransomware attack. Colonial paid a $4.4 million ransom not long after discovering the attack, and the pipeline was reopened within a week. While there was enough stored fuel to weather the outage, panic buying caused gasoline shortages on the East Coast and pushed the national average price of gasoline over $3.00 per gallon for the first time since 2014.
During times of uncertainty, communicating with your financial professional can be beneficial when life-altering events occur. For some, survival is their only plan when their financial resources continue to deplete. Others are more fortunate, and their finances are holding while they continue to work.
