Kick off your 2017 the fiscally wise way with these personal finance tips.
Many small business owners tend to think, “I am the business, and the business is me.” Though conceptually this may be true, it is critical to keep the financial fruits of your business separate from your personal endeavors – especially from a legal and accounting standpoint. Taking the time and effort to maintain autonomy between [...]
When you're in a serious situation, you may think to phone a friend or a family member. But do you ever think to call your CPA? Watch as Brian Faircloth describes five circumstances in which your CPA should be the first person to call.
A succession plan outlines the process for changing control of a business when the owner(s) step(s) down from leadership while continuing business operations. Watch Michael Scott explain why it's never too early to begin succession planning.
Control-Alt-Delete allows users to close a computer application that isn't functioning properly. But what happens when your finances aren't functioning properly due to consumer debt? Watch as Louise Anderson and Scott Abrams discuss the four types of consumer debt, as well as smart ways to re-boot your finances.
According to the Federal Reserve’s latest Report on the Economic Well-Being of U.S. Households, 30% of non-retired respondents have no retirement savings or pension – including nearly 20% of those ages 54-64. Finding a plan that suits your individual needs is the key to planning for your retirement. Watch as Michelle Stinnett and [...]
Succession planning is critical to any business’ long-term success. Being realistic and prepared are the keys to the success of a succession plan. Watch David Oliver discuss succession planning and the benefits of being prepared for the unexpected.
Much like a Swiss Army knife, life insurance is a versatile and powerful tool that can be used in a variety of ways to provide for the future financial needs of loved ones. And, with advance planning, policyholders can take advantage of many benefits while also maximizing life insurance tax strategies. However, life insurance is [...]
Stock market crashes. Health care emergencies. Investment nightmares. Many Americans who had built a nest egg that they thought would ensure a comfortable retirement have found themselves suddenly scrambling to refill their retirement fund coffers after these types of unexpected crises. Is a healthy retirement still achievable after such a blow? Yes, but building a [...]
Estate planning has typically been a complex process with intersecting dollars and family members. Deciding who gets what is difficult enough when it comes to money, personal property, and family heirlooms. But now there is another estate planning consideration: digital assets. Weaving Online Digital Assets Together Digital assets run the gamut from online banking account [...]
Beginning in 2015, the IRS is changing the lineup on the retirement savings game. Announced in March and clarified in November, new rules controlling IRA rollovers make careful attention a necessity for individuals who play ball using the tax-advantaged retirement accounts. As of January 1, 2015, only one IRA-to-IRA rollover is permitted per taxpayer per [...]
The New Year is typically filled with aspirations for future success. While losing weight is still the most popular New Year's resolution, getting into better fiscal shape appears on most people’s lists, too. Like physical fitness, true financial fitness takes ongoing effort in all seasons, but getting off on the right foot feels good. So as a [...]
Many business owners launch their enterprises with a business plan—a written document outlining the company’s strategy. Likewise, many owners exit their businesses via a succession plan—a written document detailing the transition of a company’s ownership. All too often these two documents do not cross paths or even lead toward a common goal. Therefore, once business owners have [...]
Despite sharing some of the same letters, a mortgage is far different from a marriage. It isn’t considered a lifetime commitment, and it isn’t typically expected to last through “richer” and “poorer.” In fact, mortgages can be refinanced into something much more affordable and more aligned with your evolving financial situation and long-term goals. But [...]
It’s not unusual to take on the responsibility of caring for an aging parent, and it can provide stress relief from wondering how that parent is coping and being treated. However, it does require considering many details from insurance to legal documents. Plant Seeds for Long-Term Care (LTC) Insurance The financial burden of caring for [...]
As the summer vacation season literally heats up, some workers may be feeling more run down than they did in years past. Why? The annual ritual of lying on a beach or exploring new places is now often accompanied by the need to check email and take calls. The results of a new survey confirm [...]
Most information about retirement planning is applicable to couples within the same age range rather than “May-December couples,” (which is a slang term for a couple with a significant age difference in which one person is in the “spring” of life and the other in the “winter). One might think that couples retirement planning for [...]
For those individuals facing financial challenges, it may seem tempting to make withdrawals from retirement plans. However, this case is one in which the early bird doesn't typically catch the worm. Generally, this decision should be considered a last resort since withdrawn or borrowed money will no longer earn investment returns that are tax-deferred. Those [...]
College tuition and fees today are 559% of their cost in 1985, according to the Bureau of Labor Statistics. In other words, they have nearly sextupled. Keeping up with the rising costs of college education can seem daunting, but a 529 Plan is an education savings plan operated by a state or educational institution designed [...]
There is truth in the cliché statement “time is money,” so time management tips can almost be equal to cash. Our clients often seem to ask us the same question that Tom Cruise, as the character of Jerry Maguire, famously shouted: “Show me the money!” So let’s discuss the topic of effective time management, which [...]