Estate plans aren’t just for the private jet and Cristal set. In fact, estate planning can benefit anyone who intends to leave assets to family, friends, or a favorite charity after their death. From preventing family feuds to protecting your privacy and avoiding probate, an estate plan can help your heirs for years after you’re …
Continue reading “6 Reasons Why You Really Do Need an Estate Plan”
The benefits of mindfulness are well known. With regular practice, mindfulness can lower our stress levels, help us sleep better, and lengthen our attention-spans. However, paying attention to our thoughts and actions does more than boost our physical and mental health; it can also be good for our wallets. Use these four strategies to practice …
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Year-end tax planning can help you take advantage of the sweeping changes contained in the Tax Cuts and Jobs Act. Whether it means limiting your tax liability, increasing your refund, or saving on your tax bill, a short meeting with your tax advisor before December 31st will allow you to strategize your financial decisions to …
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Company-sponsored 401(k) and 403(b) plans have two major selling points: contributions are pre-tax, and most plans come with a company match system that increases your investment with additional funds from your employer. Both are compelling, financially-savvy reasons to stay invested in your 401(k) while you’re working. After you retire, however, it’s a different story. You …
When you pick up, the person—or, more likely, the recording—tells you they’re calling on behalf of Medicare, the Social Security Administration, or even your insurance company. They say they need your social security number, Medicare number, or bank account information to activate your new Medicare card, sell you a neck brace, or help you …
In 2015, a 30-day supply of Humira, a prescription drug used to treat arthritis, cost $2,669 without insurance. In 2018, that same 30-day supply could run you a solid $5,000. Compare that to the average uninsured cost of Humira in Canada—about $2,300—and the outlines of a uniquely American nightmare begin to take shape. After the …
A Medicare Supplement, or Medigap policy, is an insurance policy sold by private insurance companies that can help you pay out-of-pocket costs that Medicare Parts A and B do not cover. Medicare Supplements are identified by the letters A through N, and are standardized by federal regulation across different insurance companies. This means that a …
Buying life insurance is one of the most important, and personal, financial decisions a person can make. Not only will your policy choice impact your finances during your lifetime through premiums, tax benefits, and payouts, but whether or not you choose to purchase life insurance can affect the financial lives of loved ones long after …
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401(k) plans —for the last 40 years, these retirement accounts have been touted as a market-based replacement for traditional pensions. In reality, the transition to 401(k)s as the dominant form of employer-based retirement support is a multigenerational, and largely accidental, experiment. Originally established in 1981 as a supplement to traditional benefits programs, the first 401(k) …
Continue reading “Your 401(k) Might Be More Dangerous Than You Think”
Robots—they build our cars, vacuum our rugs, curate our social media feeds. And, since the first automated investing platforms made their debut in 2008, they even help us manage our finances. Robot advisors, or “robo-advisors,” are currently on track to manage $1 trillion in assets by 2020 according to Business Insider. As big names like …
Taking a summer vacation? You’ve probably been planning for weeks or even months! But are you giving your finances the same attention? A recent survey found that more Americans are concerned about affording vacations than saving for retirement. The way we see it, though, retirement is the ultimate vacation: you choose how you spend your …
In war, the injury of non-combatants is called “collateral damage.” Now that the trade war with China is official, American investors are going to feel it in their retirement accounts. What is a Trade War? A trade war starts when one country issues tariffs (border taxes) on another country’s imports in an attempt to …
Continue reading “Collateral Damage: How to Retire in a Trade War”
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