One of the more difficult tasks in drafting a trust document is selecting a trustee. Trustees are responsible for managing the trust assets, having tax returns and accountings prepared, and distributing assets to your beneficiaries. A trust is meant to stand in for you in the event of your incompetency or death. Most people… Read more »
Allocating resources between your retirement accounts, 529 plans and personal savings accounts can be a tough balancing act for most parents. Throw a global pandemic and volatile markets into the mix, and you may feel like someone juggling bowling pins while riding a unicycle. To help restore your balance, here are some questions to consider:… Read more »
COVID-19 has forced many of us to hit the “pause” button on our lives. Will your life look any different when it’s time to hit “play?” Now is the perfect time for self-reflection, and with that thought in mind, here are 3 financial tips that can help you in your search for a better life:… Read more »
Buy low, sell high. The road to riches? If it were only that easy. One of the toughest judgments an investor has to make is what to do when the price of a security has taken a dive. Has the market merely mispriced a security, or does it deserve to be marked down for good… Read more »
Who doesn’t want lower insurance premiums? Seems like a simple question to answer; but is it the right question to ask? Not always. The reason we pay insurance premiums is to lay the risk of a certain event, whether it be a house fire, car accident, or premature death or disability off of you, and… Read more »
It should come as no surprise that when looking to engage a financial planning firm, you are buying a service. Buying a relationship, however, may be the wiser choice for you. In this post we will attempt to explain the difference between a service and a relationship, and why the latter may be the… Read more »
To help people meet their financial obligations during the pandemic, the CARES act expanded 401(k) loan limits. Just because the option is available, doesn’t mean it’s smart to take it. The legislation may be well intentioned, but a 401(k) loan should be used as an absolute last resort. Here are three ways a “K-plan”… Read more »
The CARES Act offers temporary relief on government backed student loans. The Act provides breathing room, but not loan forgiveness, except for one specific program. Interest waived for 6 months on federally guaranteed student loans: No action required Any payments made will be applied to principal Option to pause payments on the following… Read more »
In the midst of the financial crisis of 2008-2009, the Federal Reserve lowered interest rates to near-zero in an attempt to save the economy from collapse. Having staved off disaster, the Fed was unable to begin raising rates again until 2017-2018 (and then, very slowly). This decade-plus of low rates devastated savers and had… Read more »
