linked-in.png

Inheritance

The Great Recession: Ten Years Later

10 Years After the Financial Crisis: What Have We Learned?


Where were you in September 2008?  Over the weekend of September 13 & 14, 2008, it became obvious that Lehman Brothers was in serious financial trouble and probably would not survive.  Being on the “inside” of the financial industry we knew a lot was about to change for us and a lot of other Americans.

The Great Recession: Ten Years Later

10 Years After the Financial Crisis: What Have We Learned?


Where were you in September 2008?  Over the weekend of September 13 & 14, 2008, it became obvious that Lehman Brothers was in serious financial trouble and probably would not survive.  Being on the “inside” of the financial industry, I (Tim) anticipated life was about to change for me and a lot of other Americans.  So as our family spent the weekend at a soccer tournament, I was compiling my “depression checklist” in between soccer games.   While I was comfortable with my investment strategy, my plan included a number of cost-cutting items like growing a garden, dropping some of our kid’s expensive activities (like soccer) and pooling resources with extended family.  It also included some opportunistic to-do’s like drawing on our home equity line, looking for investment opportunities and maybe starting a business.

What To Do When a Windfall Comes Your Way

Getting rich quick can be liberating, but it can also be frustrating. Sudden wealth can help you address retirement saving or college funding anxieties, and it may also give you the opportunity to live and work on your terms. On the other hand, you’ll pay more taxes, attract more attention, and maybe even contend with jealousy or envy. You may also deal with grief or stress, as a lump sum may be linked to a death, a divorce, or a pension payout decision.

Wealth Management with Memory Disorders

What steps can a family take?

Besides impacting lives and relationships, dementia can also impact family finances. It may call for another family member to assume money management responsibilities for a parent, grandparent, or sibling. It may increase the risk of financial exploitation, even as we do our best to guard against it.

Talking to Your Heirs About Your Estate Plan

They should not be left ill-informed or unaware.

Talking about “the end” is not the easiest thing to do, and this is one reason why some people never adequately plan for the transfer of their wealth. Those who do create estate plans with help from financial and legal professionals sometimes leave their heirs out of the conversation.

An Estate Plan or a Wealth Transfer Strategy? What's Right For You?

Basic estate planning documents may not communicate your intentions.

There are three degrees of estate planning: advanced, basic, and none at all. Basic is better than none, but elementary estate planning can still leave something to be desired.

Life Insurance Products with Long Term Care Riders

Are they worthwhile alternatives to traditional LTC policies?

The price of long-term care insurance has really gone up. If you are a baby boomer and you have kept your eye on it for a few years, chances are you have noticed this. Last year, the American Association for Long-Term Care Insurance (AALTCI) noted that married 60-year-olds would pay between $2,000-3,500 annually in premiums for a standalone LTC policy.1

Changing demographics and low interest rates have prompted major insurers to stop offering LTC coverage. As the AALTCI notes, the number of LTC policies sold in this country fell from 750,000 in 2000 to 105,000 in 2015. Not all insurers offer these policies. The demand for the coverage remains, however – and in response, insurance providers have introduced new options.1,2

2016 IRA Deadlines Are Approaching

Here is what you need to know.

Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines.

*April 1 is the absolute deadline to take your first Required Mandatory Distribution (RMD) from your traditional IRA(s).

*April 18 is the deadline for making 2016 contributions to a traditional or Roth IRA.1

Let’s discuss the contribution deadline first, and then the deadline for that first RMD (which affects only those IRA owners who turned 70½ last year).

Your Year-End Financial Checklist

Seven aspects of your financial life to review as the year draws to a close.

The end of a year makes us think about last-minute things we need to address and good habits we want to start keeping. To that end, here are seven aspects of your financial life to think about as this year leads into the next...

Filial Responsibility Laws

Could you be required to provide financial support to your parents?  

Imagine your parents outliving their money. A terrible thought, right? Should this occur, there will be one of two outcomes. Either your parents will move in with you (or someone else), or your parents will become indigent.

Hopefully, your parents have saved, invested, and managed their money well enough to avoid such a plight, whether they live together or separately. If either or both of your parents do end up in such dire financial straits, the burden of rescuing them could fall on your shoulders. That is because 29 states have filial responsibility laws.1,2    

Syndicate content
Website Design For Financial Services Professionals | Copyright 2019 AdvisorWebsites.com. All rights reserved