If you have been contributing to a retirement plan, such as a 401(k) or IRA, for a long time, you may have heard the term “rollover.” Rollover financial planning is a process in which you can consolidate your retirement savings into a single account or transfer them from one account to another without penalties or taxes. This option gives you greater control over your retirement plan and allows you to maximize your investment earnings.…
The term ‘tax season’ may suggest that tax planning is something that only needs attention during a limited period towards the end of the year. However, there are several good reasons why tax planning should be a year-round activity. Tax planning is the process of reviewing your financial situation and taking appropriate steps to minimize your tax liability. In this blog, learn why tax planning should be a year-round activity and how you can make the most of it.…
Financial investing poses numerous challenges, but volatility and information overload are among the biggest. Investing in even the most stable asset classes tends to involve noticeable day-to-day shifts. Likewise, even the simplest asset classes offer many options. How do you deal with these challenges?
Learning to Do Nothing
One of the biggest mistakes people make in a volatile and information-rich environment is moving into and out of positions quickly. If they see a stock’s price taking off, it’s tempting to want to get on board and ride the train.…
Do you want to become a snowbird when you retire? Snowbirds, who maintain two homes — one in a colder climate and one in a warmer one — are able to time their stays so that they enjoy better weather and more lifestyle options all year round. But your success as a snowbird largely depends on how you plan now. Here are a few key details to consider.
1. High Fixed Costs.…
When starting a business, one of the most important decisions you will make is how much equity to give up upfront. Too little, and you may not have the resources you need to get your business off the ground. Too much, and you may be sacrificing potential profits down the road.
When determining how much equity to give up, there are a few things to keep in mind. First, think about how much money you will need to get your business up and running.…
Third-party risk management for financial institutions is a critical part of keeping an operation running smoothly. Most institutions are bound to need services from outside parties, and they have to be sure those organizations can deliver.
It is tempting to conduct a third-party risk assessment and not come back to the issue as long as everything is working. However, you should be looking for signs of potential issues. When necessary, you should follow up on those signals by conducting a fresh 3rd party vendor risk management review.…
Most people choose to invest their money because they want financial security in the future. While it is important to save for a rainy day, saving won’t always get you where you want financially. That’s why most advisers recommend that you consider investing your money. In order to find out more about what type of investments would be best for you, here are four types of investments that you might want to consider.…
Have you been wondering if you need a financial advisor? A financial advisor can put you on the right track to achieving your financial goals. However, maybe you are not sure if this is the right path for you to take.
Even if you’re having trouble managing your finances, you still may not feel that you need professional help. The fact is, there are several signs that may point to the fact that you need a financial advisor.…
Some people hire financial planners for help with planning their retirement, while others hire them for help when preparing to buy a house. But did you know that you can also hire a financial planner to help you improve your current financial state? Here are some of the top tips that financial planners offer that might help consumers improve their financial states.
Start Keeping Track of Your Expenditures
The first thing to consider is tracking all your expenditures.…
Have you put off retirement planning until later in life? If so, you face a challenge to catch up with this important financial step when you don’t have the luxury of time.
While some important retirement savings moves — like trying to use the IRS catch-up provisions to add more to retirement accounts — are easy to understand, others can seem counterintuitive. But these counterintuitive measures can be as important to your wallet.…
