Unfortunately, divorce is on the rise among all age categories. If you find yourself in a situation where divorce looks inevitable, or you already are in the process of divorce, here are a few financial tips you should keep in mind.
With everything going on in your life, why do you make time for your annual physical? Maybe your insurance covers it. Maybe you want to ensure you are in good physical shape and catch any potential problems early. I believe the same can be said for your financial health. To ensure you are in good financial condition and stay that way, you must take time for an annual financial review with a professional.
At the start of a new year, people often make resolutions about things they want to change going forward. Finance is one area in which resolutions are made – and often fail. It’s good to make a resolution to make positive financial changes, but without a sound plan, we set ourselves up for failure. Here are three tips to help you develop your plan – simple steps that can set you on a path to a better financial future.
Most people have heard of term and whole life insurance, but are unfamiliar with indexed universal life insurance (IUL). Here are some key points about an IUL and why I often recommend them to my clients.
Since I covered the basics of tax-free retirement accounts in this space, I have received several requests for additional information about TFRAs. I will answer a few of those questions here.
What if you could use the magic of compound interest for decades (i.e., a child policy), yet never pay taxes above basis because you take distributions as a loan?
It is not deemed as income, is not subject to required minimum distributions, and will not affect taxation on social security if in a life insurance policy. Death benefits are tax-free as well.
As a parent or grandparent, you can leave a legacy by using the magic of compound interest.
