The safety of your money is important when working with a financial planner for the first time. You worked hard to save for retirement. Protecting your assets may be why you’re hiring a financial planner in the first place.
The type of financial planning professional, compensation models, business structures, and legal protections are all important considerations. Not all firms manage investments the same - some don’t manage investments at all.
As you transition into retirement, one of the most pressing issues to consider is applying for Social Security. Although these monthly payments probably aren’t your entire income source, they can be a vital part of your retirement budget.
If you’re married when applying for Social Security, your spouse may also be entitled to benefits, even if he or she is not at retirement age. However, while this process is relatively straightforward for current married couples, what if you’re on a second marriage?
Warren Buffett is one of the greatest investors and philanthropists of all time. What can we learn from his charitable giving, and how can we apply it to our own giving strategies?
The main point of charitable giving is making the biggest impact. However, when we plan our giving carefully, we can save on taxes and put even more money to good use. There are many considerations, such as when, how much, and which charities and causes to support.
What does it actually look like when you work with a financial planner? This varies a lot between financial planners and clients alike. However, we’re peeling back the curtain to show you how we create your financial plan at NextGen Wealth.
Whether you’re already working with an advisor or a do-it-yourself investor, having a clear system for success is vital. The COLLAB Financial Planning Process™ is our answer. We hope you enjoy this “inside look” at how we construct a plan for your future.
This post was last updated on January 03, 2025, to reflect all updated information and best serve your needs.
Saving money for retirement is critical, but when it comes to the types of accounts you have, it can start to get a little confusing.
This post was last updated on 31 December, 2024, to reflect all updated information and best serve your needs.
Planning for your retirement is the key to fully enjoying the fruits of your labor. Whether you have an IRA (individual retirement account), a 401(k) or other retirement account, you'll want to get the most out of it by maximizing your contributions. Understanding the contribution limits put in place by the IRS will help you maximize your savings.
This post was last updated on January 08, 2024, to reflect all updated information and best serve your needs.
Many SECURE Act 2.0 changes were set to go into effect later, but 2023 was an important year when many changes took effect. We’ve made a list of these changes so you can more easily track them.
This post was last updated on September 30, 2023, to reflect all updated information and best serve your needs.
How do you measure your personal financial health? If you were running a business, you’d pay close attention to its financial health, right? Elements like cash flow, debts, and total assets would be part of your normal routine.
Many investors consider diverse investment portfolios desirable because they reduce the overall risk inherent to investing. One of the primary ways to diversify your portfolio is to invest in different asset classes. Before you can do that, though, you need to know a little more about what they are.
While even the most diverse investment portfolios aren’t immune to risk entirely, risk reduction of any amount can help provide you with peace of mind, particularly when you’re investing as a way to support yourself through retirement.
If you’re like 69% of Americans, you may have less than $1000 saved. Putting money away is a struggle for many individuals, but part of the problem may be how they’re doing it.
One possible way to make saving easier is to utilize multiple accounts. Today, we’re going to look at the various reasons you should be saving and the types of accounts you can use to reach your goal.
Typically, if you want to become an investor, you need sufficient capital to make any headway. These days, however, it’s never been easier to make your money work for you, thanks to various investing apps and opportunities.
If you’re short on funds, you might think that investing is out of reach. You’d be wrong. Thanks to the growing trend of micro-investing, anyone with a bank account can get started.
If the thought of negotiating your salary makes you break out in a sweat, you’re not alone. According to a survey by compensation software company PayScale, only 43 percent of respondents asked for a raise in their current field.
Salary negotiations can be scary. Even the most seasoned professional can blanch at the idea of marching in and demanding more money from their boss. However, there will come a time when your current compensation does not reflect the value of your work.
This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.
Congratulations! You’ve worked for decades to prepare for retirement and now you’re there, or almost there, ready to start what can be the most enjoyable phase of your life. Very likely, you’ve got plans to travel, see family and friends and maybe even revisit hobbies you’ve neglected for decades.
This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.
Are you looking forward to the day you retire? Many dream of retirement, counting down the days when they can leave the cubicle life behind. But, before you turn in your work badge, make sure your finances are in order first.
The new year is upon us and with it comes resolutions and goals that you’d like to accomplish. However, as we can all agree, it’s just not that easy.
If you’ve ever set a goal that you failed to accomplish, you’re not alone. Science says that only 8 percent of people actually achieve their goals. According to a study by the University of Scranton, a staggering 92 percent of people make New Year’s resolutions they never fulfill.
Many Americans are one paycheck away from going into debt to pay for an emergency. A report by the Federal Reserve on the economic well-being of U.S. households found that 40 percent of American’s can’t afford an unexpected $400 expense. Having some extra cash can help you be prepared in case financial disaster strikes.
There are many different ways to save money – some easier than others. Pick what works for you and stick with it for a few months, setting aside the money that you save in a separate savings account. You can use the extra money to start an emergency fund or invest for retirement.
Most of us like to know the length of time it will take our investment to grow. We want all the numbers: estimates, figures, how old we will be when it’s doubled, etc. Some things in life are just hard to know because there are no guarantees.
But with the Rule of 72, you always know the number of years it takes to double an investment. The Rule of 72 will tell you a lot about the money you invest. Thanks to the Rule of 72, the table below tells us how many years it will take an initial $10,000 investment to double, depending on the rate of return.
There’s no denying the importance of getting a quality education. However, the rising cost of higher education really makes things difficult for young families. It’s not uncommon for grandparents to want to help their grandchildren pay for college.
With that being the case, there are some key strategies for you to help your grandchildren without affecting their chances for student aid. You can probably save some taxes too – if you know what to do.
Talking about money with your spouse can be difficult. Not everyone enjoys talking about finances and it can seem easier to just ignore the subject. However, avoiding difficult conversations and money discussions can lead to many problems down the road.
If the idea of discussing money with your significant other stresses you out, you’re not alone. According to a survey by SunTrust Bank, 35 percent of people said money was the primary cause of friction and stress in their relationship. For respondents between 44 and 54 years of age, that number shot up to 44 percent.
I’m assuming you’ve never heard of a digital estate plan before, but I am guessing you know the importance an estate plan to help take care of your physical assets. Things like your primary residence, other real estate, jewelry, investment accounts, etc.
The digital world is now an integral part of our personal lives. Few people consider their digital assets and what should be done with them when they pass away. This is where having a digital estate plan in place can be a great idea.
