Generational wealth involves proactive financial planning, especially when parents or grandparents pass on their wealth to loved ones after they die. Entrusting family members with receiving an inheritance is more than just getting a hold of assets or a check in the mail. It is about understanding how to steward the hard-earned wealth that you and your spouse spent your lives building.
The Dow Jones Industrial Average (DJIA) is an index of 30 very-large, blue-chip U.S. companies. The most recent all-time-high (as of early August 2023) was on January 4, 2022, when it closed at 36,799.65. But since late July 2023, market-watchers are anxiously hoping (waiting) for the DJIA to crest a new all-time record, as the index sits about 1,000 points (about 3%) from a new milestone.
Money concerns can be overwhelming to the point that they affect other aspects of your life, including your mental and physical well-being. However, there are various strategies you can use to help you better manage and alleviate this stress while also staying on top of your finances.
If you find yourself wavering back and forth on whether it's worth involving a financial professional for tax, retirement, or investment advice, consider this: A financial professional may be able to help defend you against crime and fraud (like Batman). What’s more, they may also help you heal from financial mistakes more quickly (like Wolverine) or morph into a variety of roles—fiduciary, investment advisor, tax professional, or financial planner—like Mystique.
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.
Investing in financial markets requires a proactive approach, and one key aspect of maintaining a healthy investment portfolio is conducting periodic reviews. While many investors focus primarily on equities, it's crucial not to overlook the fixed-income portion of one's investments.
In the world of investing, there are few phrases as exhilarating as "bull market". These words conjure images of an economy burgeoning with opportunity, a period when stock prices are on a steady upward trend, promising lucrative returns to those invested. And yet, an intriguing anomaly persists: many investors remain decidedly pessimistic, even in the midst of a bull market. To the uninitiated, this might appear counterintuitive. After all, isn't a bull market the perfect time to maximize profits and cultivate one's portfolio? While this is true in principle, the realities of investor psychology often paint a more complex picture.
As Americans grapple with the challenges of dwindling purchasing power, credit cards have become a popular way to bridge the financial gap. However, this has led to a startling surge in credit card debt, with the Federal Reserve Bank of New York reporting a record $988 billion in outstanding balances, an increase of 17% from the previous year. Each American, on average, now owes around $5,700 in credit card debt.
Your life insurance needs depend on a number of factors, including the size of your family, the nature of your financial obligations, your career stage, and your goals. Here are questions our financial advisor says to consider about the amount of life insurance you need.
Diversification — not putting all your eggs in one basket — is one of the most cherished principles of investing. That's one reason why mutual funds have become a popular choice for many investors' workplace retirement accounts.
When investing, particularly for long-term goals, there are two concepts you will likely hear about over and over again — diversification and asset allocation. We break down these terms and how they can help you target your specific needs.
Are you unsure how to get started with financial planning? As you gather information to begin your financial planning journey, here are ten easy steps to help.
