In the realm of investing, few financial instruments have garnered more controversy than annuities. Unquestionably, annuities have their share of critics, especially when they are applied improperly, but, in the right situation, their benefits may be unmatched. Annuities are complex products with many moving parts, so it’s important to do your own due diligence. The key is to understand how they can work in the context of your particular financial situation and to consider both...
In many respects, people can be their own worst enemies in their quest for financial security. When you consider that our lives are nothing more than a culmination of the decisions we make each day, if we tend to make more bad decisions than good decisions, or worse, if we can’t make decisions at all, it’s should be no surprise when financial security remains elusive. When it comes to finances and investment decisions, many people...
The end of the year is fast approaching, and now is the perfect time to review items you might want to consider as you get set to enter 2016. Let us stress that it is our job to assist you, and we would be happy to review the options that are best suited to your needs. When it comes to tax matters, we recommend you check with your tax advisor. Investment and financial planning Is...
If you come from a typical family, finances were rarely discussed in detail even as you matured into adulthood, which was fine as long as your parents were fully capable of running their own lives. But, as your parents age, and with today’s life expectancies that could span another 20 to 30 years at age 60, there is a strong likelihood that they might lose their cognitive function over time. Not only will your parents...
It wasn’t long ago that financial planning was thought of as a discipline that only applied to the very wealthy. Most people didn’t feel the need to plan, and, frankly, most financial advisors felt the same way. If you consider the fact that, just a few decades ago, the average life expectancy was just 70 years, few people were concerned with making their retirement income last a lifetime. And, back then, the majority of retirees...
Social Security was never intended to be an income source that could support you in retirement. Rather, its sole purpose was to provide a safety net for people who were unable to accumulate sufficient retirement savings. For more than seven decades, the majority of Americans never gave much thought to their Social Security benefits – it was nothing more than a box they checked when it was time to collect. Today, an increasing number of...
Parents with substantial investments and home equity generally find it harder to get financial aid for their college-bound children. But if you understand how assets are assessed on both the FAFSA and CSS Financial Aid PROFILE, you can improve your chances for getting the best financial aid package possible. Do you know how your investments might reduce their chances for financial aid? And what about the role that a family’s home equity may play in...
It has been argued that the best way to invest in the stock market is with a lump sum of capital that can be properly diversified across several asset classes. But, for many people with a desire to achieve long term growth, that is not possible because they’ve yet to accumulate a lump sum of capital. However, they may have the capacity to commit a portion of their monthly savings to growth investments. While they...
