financial planning

16
Oct

The 3 Financial Ratios You Need to Know

Posted by | · · · | financial planning · personal finance

A good financial plan will consist of your goals, specific action steps, and a set of simple, but useful metrics or ratios to track your progress and keep you focused. Today, we are going to teach you 3 financial ratios that should be a part of your financial plan.   #1 Your Savings Ratio   […]

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10
Oct

How to Make Your Kids Financially Independent

Posted by | | financial planning · personal finance

Talking to your kids about money is a somewhat controversial topic. Far too often, parents themselves are having money problems so it seems a little hypocritical to then turn around and try to teach the subject. Others just view the topic as completely taboo. Regardless of where you stand on the topic, almost all of us […]

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02
Oct

3 Steps to Becoming Wealthy

Posted by | · | financial planning

#1 Set Goals Your direction determines your destination. If you haven’t sat down and asked yourself “where do I want to be 1 month, 1 year, or 1 decade from now” then you should start doing it right now. Seriously, open a word document or get a pen and paper out and write down your […]

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29
Sep

Should You Be Worried About Low Wage Growth?

Posted by | · | economics · financial planning

There’s no question that we have a healthy economy right now. At the time of this writing, the unemployment rate is at 4.4% and there are millions of job openings across the country. However, there’s one thing that isn’t pointing in the right direction, and that is the average hourly earnings of the American workers. […]

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22
Sep

What’s A Qualified Charitable Deduction?

Posted by | · · · | financial planning · investing

A Qualified Charitable Deduction is a great way to turn your excess RMD (required minimum distribution) into a tax-saving opportunity because it counts towards your required minimum, but doesn’t get taxed. In other words, if you have a traditional IRA, are over age 70 ½, and already plan on making a certain amount of charitable […]

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22
Sep

What’s the ‘Retirement Spending Smile’?

Posted by | · | financial planning

$275,000 – that’s how much Fidelity says today’s average 65 year old retiree should expect to pay in healthcare costs. A 6% increase over last year’s estimate.   While such a large number may come as shock to many, the fact that it’s spread out over about 20 years makes it seem a little less […]

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20
Sep

What’s A Spousal IRA?

Posted by | · · | financial planning · investing

You’re probably heard of an IRA (individual retirement account), but may not be as familiar with the concept of a spousal IRA. In this article we will briefly explain what a Spousal IRA is and how it works.   Spousal IRAs are actually just Traditional or Roth IRA’s that are funded by a person’s spouse […]

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17
Sep

What is Sequence of Returns Risk?

Posted by | · | financial planning · investing

Sequence of Returns Risk refers to the concept where negative investment returns in the early years of retirement could derail a person’s entire retirement plan. The reason being that the retiree would need to withdraw from his or her retirement accounts when the overall portfolio is at a temporarily decreased value. In other words, more […]

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16
Sep

How Much Life Insurance Do You Actually Need?

Posted by | · | financial planning

How much life insurance a person needs is somewhat subjective. Some stick to the $250,000 or $500,000 policy benchmark. Others apply the 5 to 10 times your salary rule of thumb. Both of which aren’t necessarily wrong, but could also be way off the logical mark.   So what do you before you jump to […]

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