Becoming a parent is a lot of responsibility. It requires heightened levels of patience, reservation, and commitment. Children are impressionable and what they learn in early years develops behaviors and traits that will carry on into adulthood.
Spending time working on your taxes can be a scrutinizing task, especially if you’re a business owner or sole proprietor. Regardless of how meticulously you file, there’s always a chance that you’ll be audited by the Internal Revenue Service. In fact, roughly 1 in every 220 individuals were audited in 2020.
Falling into debt is easy to do, but overcoming it isn’t quite as simple. Unfortunately, in today’s world, consumerism and high inflation costs have created a society where being in debt is more common than living without it. While people assume that living debt free is reserved for the wealthy, it doesn’t have to be.
Estate planning is an action that’s not always at the top of someone’s to-do list. While it might not seem like an urgent act, you never know what could happen and it’s always better to be over prepared than under prepared. If you have any preferences for how your assets will be handled if you were to pass away or become incapacitated, estate planning is essential.
If you’re planning to retire within the next 10 years, it’s important that you fully understand what your financial future is going to look like. Establishing a comfortable retirement takes time and is challenging for many people, but there are things you can do to solidify your finances and better prepare for the life you envision.
The initial asset allocation of your investment portfolio is crucial for long-term financial success. However, investments are not something that can be left unmaintained for years. Occasionally, the market will change, or your risk level will fluctuate. To make sure your target asset allocation stays consistent, you need to rebalance your investment portfolio.
Investing in different assets is one of the best ways to improve your long-term financial stability. It allows you to build equity over time and diversify your investment portfolio for the best return. However, when it comes to building a portfolio, many people aren’t sure where to start or how to view individual assets under one cohesive system.
When first considering your investment options, many people decide to utilize a 401(k) for their retirement plans. This is often due to an appealing employer's plan for company matching. Unfortunately, if you leave the company where your 401(k) resides for any reason other than retirement, you'll need to take action regarding 401(k) rollover.
It's been many years since the US economy has experienced meaningful inflationary pressure.
Considering the record amounts of stimulus and deficit spending that is taking place in 2020,
now may be the right time to “inflation-proof” your investments.