Most twenty-somethings do not have much of anything in the way of assets yet. Most of them also are not planning for their futures or for retirement. However, it is generally recommended that you start planning for retirement as early as your twenties or thirties. Early planning leads to greater wealth amassed over the course of the next thirty or forty years if you start planning early. Yet part of the planning process is bequeathing your wealth to heirs you do not yet have.
27 February 2017
Financial planning is something that many people neglect, but even those who do plan ahead often neglect important areas of their future. The following are three often neglected areas of financial planning. After death expenses If this is not planned for, it can become a financial burden for surviving loved ones. There are a variety of expenses that can be created by your death, but the most obvious are those related to your funeral.
20 October 2016
Like any area of life, it pays to keep your finances in order. Organizing your finances lets you ensure that your money is being used wisely. It also helps eliminate financial clutter in your life. Get your finances organized with these three steps. 1. Close Accounts That No Longer Fit Your Needs Over your life, it is possible you have accumulated an assortment of accounts that you no longer need. Start by closing any checking, savings, or investment accounts that you no longer use.
19 October 2016
If you're the kind of person who believes that financial planners are only for people who are extremely wealthy, you may want to think twice about this notion. Financial planners can help anyone, even people who don't make what is considered to be a lot of money. Working with a financial planner can help you see monetary options that you may not have considered. Use this information to learn more about why you should start working with a financial planner as soon as possible.
14 October 2016
The wrong financial moves can be disastrous for a small business owner. Small business owners must walk a fine line between keeping cash on hand, investing in their business, and investing in themselves. Take a few moments to learn four financial moves that small business owners need to make. 1. Take Out a Business Loan or Line of Credit A lack of cash flow can be disastrous for any small business.
14 October 2016
When it comes to asset protection, there are some pitfalls that many people fall into since they may not be intuitive. Here are some examples of asset protection missteps that many people take, including steps you can take to make sure your asset protection strategy is optimal. Not Having a Plan If you have a substantial amount of assets, then you absolutely need a plan to protect them. Those without assets don't get their assets targeted of course, but those who do always will.
14 September 2016
If you're planning on retiring soon in order to make sure you have an income after you leave your job behind, an annuity is often an excellent way to achieve this. New retirees who are also new to annuities tend to make the same types of errors when it comes to setting up their annuity for the first time. Here are a few mistakes new retirees tend to make with annuities and ways that you can avoid the same errors in order to really maximize your results.
13 September 2016
Everybody dreams of winning the lottery, but when you actually and finally do, you will be faced with some difficult choices. The first major choice that you will have to make is do you choose the annuity payout or do you choose the lump sum? Here is how a financial consultant may advise you, based on your personal situation. Lump Sum Most people, who are either impatient or have a lot of debt, are unwilling to take the annuity payment of their lottery winnings.
13 September 2016
Are you planning to invest in your own business within a few years and don't have the funds? The first step to achieving your goal should be to hire an investment planner to help with getting your money in order. There are actually several benefits that you will have by seeking professional assistance. Take a look at this article to discover a few ways that an investment planner, such as those found at Family Financial Partners, can assist with your financial goals.
7 September 2016
For some entrepreneurs, the thrill of starting a business from scratch is the best part and plodding along with the same business after it's established is less exciting. If this sounds like you, you may want to find a private equity firm to take your current business off your hands and continue developing it while you move on to exciting new startups. But before you start looking for a buyer, make sure your business is at the right stage to take this next step.
17 August 2016