If you have always thought estate planning was just for those nearing retirement or already retired, think again. If you own a home, it is important to have a plan in place. Without a will or other arrangements that allow your home to pass to your closest loved ones, it is subject to your state's intestacy laws and probate, which may not result in the outcome you want.
If you are worried about being able to afford college costs for your children or teens, a 529 education plan might be one way to boost your savings. These plans allow you to save and invest for college while perhaps enjoying tax advantages now and later. Here are a few of the key benefits of a 529 savings account, how you may use one, and what effect it may have on the financial aid your child might receive.
The turmoil in the markets in the first few months of 2022 has demonstrated the benefits of diversifying your assets. Stocks plunged in January and February, rebounded in March, but are still negative YTD. And the bond market suffered its worst quarter since 1980. So, how do you figure out how well your asset mix is diversified, and not too heavy in one area – like stocks?
One key predictor of downturns in the economy is what is known as the yield curve. This typically refers to the market for what the US government borrows, by issuing bonds and other securities that mature over different time horizons ranging from weeks to 30 years.
News headlines are often dominated by some of the world's largest businesses—from FAANG stocks soaring to new heights to Space X planning to send rockets to Mars. But the makeup of American companies includes more than just the biggest businesses. Indeed, more than 99.9% of companies in the U.S.—32.5 million—are small businesses with fewer than 500 employees.1 These small businesses employ hundreds of millions of people and form the backbone of the U.S. economy. Here are four key statistics that small-business owners may find surprising.
Retirement is an exciting change in your life, but not one that doesn't come with some ups and downs. When you no longer have as much responsibility for family and the daily challenges of work, it’s likely you may feel blue from time to time as you struggle to find your purpose in this next stage of your life. If you find yourself feeling a little down, below are a few simple tips to help you beat the retirement blues.
Although women make up nearly half the labor force, on average, women still tend to earn less than their male counterparts even in like positions and with like skills. In the past five years, women have earned on average 80 cents for every dollar that a man earns. While that gap seems to decrease each year, it has still yet to be closed.
When helping people get ready for retirement, financial professionals find the same issues come up over and over. Thinking ahead can spell the difference between a retirement with enough money and a stressful one with difficult decisions that you don’t want to make.
Is 62 your lucky number? If you're eligible, that's the earliest age you can start receiving Social Security retirement benefits. Although collecting early retirement benefits makes sense for some people, there's a major drawback to consider: If you start collecting benefits early, your monthly retirement benefit will be permanently reduced. So before you put down the tools of your trade, there are some factors you'll need to weigh before deciding whether to start collecting benefits early.
April brings more than possible rain showers. It also marks Financial Literacy Month in the U.S. Whether you’re interested in a quick refresher or seeking to learn something new, it may be worth the effort to brush up on some financial concepts that give you a broader knowledge base from which to make financial decisions. Here are several ways to invest in your financial education for this Financial Literacy Month.
Here is a statement that is bound to cause you to raise your eyebrows: Your long-term financial success may depend less on the structure of your portfolio than on your ability to adapt your behavior to changing economic times. At the very foundation of your financial well-being lies your behavior. In fact, one can plausibly argue that the dominate determinants of long term, real life, investment returns are not market behavior, but investment behavior.
The Federal Reserve plans to unwind its bond borrowing since inflation has hit the highest level since 1980. While interest rates will stay near zero, for now, the Fed will start raising interest rates as early as March 2022. With a strong labor market and December 2021's inflation rate near 7%, the target range for the Federal Funds Rate will begin to increase as a way to help contain soaring inflation.
