Inattention and procrastination can hurt family wealth. Some estate planning is better than none, but sometimes people address wealth transfer issues inadequately or ineptly when they tackle the task. Here are some classic miscues. Waiting too long. A wealthy individual may postpone estate planning until too late in life, which may present obstacles due to
Creating a solid financial foundation can help investors stay focused no matter how the markets are performing. When the markets and the economy are behaving badly, as they tend to do from time to time, it’s easy to feel helpless. But creating a solid financial foundation can help you gain control of your investments and possibly
Learn how that could affect your retirement strategy A bull market can promote overconfidence. You may be lulled into thinking that the major indices will rise for years to come. That is not a given. The danger arrives if the market slumps and your income is too heavily tied to equity performance. The upside is
Some key financial steps that you could take. Your twenties are the perfect time to save and invest. Do it now, and you will have a great ally—time—on your side. Think about doing the following things if you’re not doing them already. Put money into a retirement plan. Save and invest through a 401(k), a
These crucial years call for action. Today, retirement may seem nearer to you than it once did. The following moves might be worth making—and soon. Catch-up contributions to your retirement accounts. Starting in the year you turn 50, you may make a total of $1,000 in catch-up contributions to your IRAs each year and put
With the stock market hitting all-time highs on a what seems like a daily basis, now is the time to review heavily appreciated and concentrated stock holdings. What is intent of the investment that you are holding? Is there a particular goal in mind? No one knows what the value of the investment will be
With the Department of Labor’s proposed changes, a lot of firms have changed the way that they do business. This is, in theory, is a good thing, as financial advisors now must act in a Fiduciary capacity. In other words, they should put the client’s interests before their own. Ironically, there has been an unintended
Did you know that the age at which many workers will qualify for full Social Security benefits has risen to 67 from 65? If that’s news to you, you’re not alone: The majority of workers are still in the dark about Social Security eligibility requirements and many expect to qualify for benefits payments sooner than
The trend toward online investing and advisory services, also known as robo-investing and robo-advice is gaining momentum, but industry participants are struggling to get a handle on how retail investors view and/or use robo-services to conduct their financial affairs. Studies Abound Recent research conducted by major asset management firms has given some insight, yet
