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Can You Psych Yourself Up to Save More Money for Retirement?

You have probably spent decades saving for retirement, and you might have a decade or more of saving to go before you actually retire. At times, your resolve may be tested. The stock market may falter; household money pressures may mount; new near-term priorities may arise. So, what can you do to stay on point and stick with this financial commitment you have made to your future self?

Understanding Homeowners Insurance

If you arrange a mortgage, your lender will want you to have homeowners insurance. This coverage is critical for protecting your home and personal property against various potential liabilities.

Watch Out for the Top 12 Tax Scams & Schemes

The “dirty dozen” favored by criminals & cheats.

Year after year, criminals try to scam certain taxpayers. Year after year, certain taxpayers resort to schemes in an effort to put one over on the Internal Revenue Service (I.R.S.). These cons occur year-round, not just during tax season. In response to their frequency, the I.R.S. has listed the 12 biggest offenses – scams that you should recognize, schemes that warrant penalties and/or punishment.

The Steward Approach to Managing Market Volatility

Over the past few months, investor concerns about rising interest rates, oil prices, tech stocks, trade wars and a variety of other daily “headline issues” have resulted in significant market volatility. Looking ahead, volatility may continue as markets adjust to potentially higher inflation and interest rates. To help frame the current market volatility, we offer the following reminders:

When You Retire Without Enough

How much have you saved for retirement? Are you on pace to amass a retirement fund of $1 million by age 65? More than a few retirement counselors urge pre-retirees to strive for that goal. If you have $1 million in invested assets when you retire, you can withdraw 4% a year from your retirement funds and receive $40,000 in annual income to go along with Social Security benefits (in ballpark terms, about $30,000 per year for someone retiring from a long career). If your investment portfolio is properly diversified, you may be able to do this for 25-30 years without delving into assets elsewhere.1

Chicago’s Notable Financial Advisers: Crain's Chicago Business 2018

CRAIN’S CHICAGO BUSINESS ANNOUNCES
CHICAGO’S NOTABLE FINANCIAL ADVISERS
 
 

Why Taking a Loan from Your Retirement Plan is a Bad Idea

Thinking about borrowing money from your 401(k), 403(b), or 457 account? Think twice about that because these loans are not only risky, but injurious, to your retirement planning.

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.

October is the Best Time to Fill Out the FAFSA

October is here – the ideal time for college students to apply for financial aid. October 1, in fact, marks the first day a current or future college student can submit a Free Application for Federal Student Aid, or FAFSA, for the 2019-20 academic year. Since some states offer aid on a first-come, first-serve basis, submitting a FAFSA as soon as possible is wise.1,2

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.

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