DIY Love Letter
Key Takeaways Over the past decade, there’s been an increase of do-it-yourself will software. There are several reasons you should not do a will yourself, especially as there are some common mistakes when creating a will that can cause your assets to not go where you want them to go. Paying to have a will […]
Replacing Your Life
Key Takeaways Life insurance is important to have if you have dependents and are a high income earner. Term insurance and Cash value insurance are the two types of life insurance. There are different benefits to each type of life insurance, so it’s important to know the advantages and disadvantages of each to determine what […]
Investing in Life
Key Takeaways Investing, like growing up, can be very complex. Factors such as what markets you invest in, your personal goals and risk tolerance, how you diversify and allocate your assets, and who you use to help you invest your money, all make up this complicated system. It’s up to you to determine how you […]
The Dynamic Duo: Risk and Reward
Key Takeaways Risk and reward both clash and work together, and are culturally significant here in the US as American investors tend to embrace more risk than elsewhere. Risk tolerance is how much you are/are not willing to take a risk on an investment, and there are several types or risk markets you can invest […]
The Diversified Investment Palate
Key Takeaways Successful investment management is based on diversification and asset allocation. Diversification means investing in several different areas, and asset allocation is how much in an area you invest in based on several factors specific to you. Time frame is important in investing as you need to be consistent.
4 Common Tax Advantaged Strategies
Key Takeaways There are three things to look for in a tax strategy: tax deductible, tax deferred, and tax free. A strategy will most likely not contain all three, but usually will have two of them. Four common tax strategies are 401ks, IRAs, HSAs, and 529 plans. Putting money away using any of these strategies […]
Transitional Ownership
Key Takeaways Transitions in life directly affect how ownership changes. Several primary forms of ownership include Sole Ownership, Joint Ownership, Tenancy in Common, Tenancy by the Entirety, Trust Ownership and Guardian of Assets. It’s important to understand that ownership changes when major life events happen so that you can plan for these changes and ensure […]
Own Your Position
Key Takeaways Handling someone’s estate is something you may only do once in your lifetime and it can be a very emotional, daunting process. Estate plans can be executed during someone’s life should they become incapacitated, and upon a person’s death as well. It’s important to seek help from a professional when it comes to […]
Willing to Plan?
Key Takeaways Every person has an estate plan automatically; it is designated by the state you reside in. Estate plans can consist of wills, durable powers of attorney, trusts and designation of beneficiary type assets. There is will-based and trust-based planning. There are very big differences in terms of dealing with probate and whether they […]
3 Key Money Math Skills
Key Takeaways Compound interest, computational skills and amortization are the three key money concepts we all need to master. As Einstein observed, compound interest is a saver/investor’s greatest friend and a debtor’s greatest enemy. Creating a budget and sticking to it are essential to building wealth and a secure financial future. Budgeting just takes discipline […]