Of all of the investment products out there, annuities may be the most misunderstood. Some people love them, others hate them. Hardly anyone completely understands them.
Annuities are sold by insurance companies, and they are a contract between the investor and the carrier. The contract says that the investor will give the insurance company money, either as a lump sum or over time, and in return the insurance company will guarantee the investor a lifetime stream of income.…
An increasing number of American families (some 18% of the population) are finding that setting up a multigenerational household—one where children, parents, grandparents and even great-grandparents all live together under one roof—is the best solution to a host of difficulties. And it can certainly ease financial, physical and emotional needs. But if you’re the adult generation sandwiched in the middle, there are new challenges as well. Here are a few financial tips to make the transition easier and keep it positive—both monetarily and emotionally.…
Life can get hectic at times, which means that you can miss important deadlines. One of the major deadlines in most adults’ lives is tax day. Though taxes are due on a specific day each year, many people miss filing taxes by the deadline. If it is the day after taxes were due and you are just now realizing that you missed the deadline, you may be wondering how to take action.…
It is no secret that managing your finances while you are in college can be difficult. You spend most of your time going to school and likely only have a part time job. This difficulty that you have managing your finances can then increase quite a bit when you get married and begin having children because you are going to be spending more money. Thankfully, there are financial advisers out there than can help you to manage your finances in the best way possible.…
Chronic illness or disability is something that everyone likes to think will never happen to them. Unfortunately, chronic illness and disability are very real possibilities and it’s important — for your sake and your family’s — to plan for them as soon as possible. Below are three tips for financially planning for chronic illness or disability.
Start Building an Emergency Fund
Chronic illness can strike anyone — at any age — so whether you’re 19 or 59, you should have an emergency fund that can financially support you for at least 6 months.…
Do you have a child who has either physical or mental challenges? Are you worried about how you will pass financial support onto them after you pass away? Passing assets on to heirs can always be tricky, but it can be even more so when the beneficiary has physical or mental conditions that may limit their ability to manage the inheritance. Depending on your child’s condition, they may not have the ability to budget properly or they may be too trusting of other people.…
Seeking to establish a sound financial footing for your future is a responsible choice that requires a great deal of knowledge. While many people are content to invest in low risk, low reward instruments, they may be missing out on an opportunity to multiply their potential gains. Opening yourself up to a diversity of options is the only way to know for sure that you’ve made the correct choice.
Below, you’ll find a guide to some characteristics of high yield funds which you may decide to consider for your investment portfolio.…
Being smart with your investments could help you save and earn more money over the years, and finding tax-free investments is a great strategy to consider. One tax-free investment you could look into is a traditional IRA. These are not completely tax-free; however, they offer significant benefits that are worth looking into.
How Do They Work?
An IRA is an individual retirement account, and a traditional IRA is one of several types of IRAs available.…
