Gross Domestic Product (GDP) is the total of everything produced in a country, even if it is made by a foreign company or foreign workers within a country’s borders. GDP counts the final value of a product, but not the parts that go into producing it as a way...
Most parents want what is best for their children, but sometimes have habits themselves that equate to teaching their children poor financial habits. Children learn by watching their parents and other adults (modeling) and as they mature their mistakes and bad habits become hard to correct. Bad financial decisions...
For many parents, planning to leave their estate to their children is a common practice. There are many things to consider when planning to leave your children an inheritance, but the complexity increases when your child is beneficiary to someone else’s estate. What happens when the minor child becomes...
This is the first tax filing season since the Tax Cuts and Jobs Act (The Act) was passed. Even though 2018 is over, there are tax planning strategies you should think about before you file and plan accordingly for 2019. There still remain 7 income tax brackets and the marginal...
A credit freeze is a way to protect yourself from a new account or loan being opened with your personal information by businesses (or criminals) without your permission. With a credit freeze the process of accessing your credit information from the credit reporting agencies is blocked. Freezing your credit at the...
More people are choosing to become self-employed with one in three Americans leaving their jobs to go on their own. According to a twenty-year Harvard University Study republished in November 2018, the top reasons many are leaving stable employment is wanting more control over how and why they work and choosing...
The start of a New Year is the time when most people decide to implement changes in some areas of their lives. Whether it is health or money related, starting the New Year off with a plan feels good! According to research from YouGov Omnibus, last year 1 out of every 5...
Couples usually don’t retire at the same time when they have an ‘age gap’ between them. An age gap relationship is one where there is eleven or more year’s age difference between them. Age gap relationships are becoming more common as people are choosing to marry later in life, remarry or...
Despite having a high income from owning a business or being an executive, these individuals can experience retirement savings problems. They have missed savings opportunities or put off financial planning. Often they assume that everything will work out with their retirement plan, and it can, but their high-income can...
Regardless if you believe in Long Term Care (LTC) insurance or not (or your advisor doesn’t) you still need to include the costs related to LTC in your retirement plan, even if you’re able to self-pay. Why? Because the statistics on longevity show that people are living longer and...