Category Archives: Finance

As you plan for retirement, you’re likely considering the major expenses you may encounter, such as housing and health care. But are you overlooking something that may have a significant impact on your ability to achieve a financially secure retirement? If the bulk of your retirement savings are in tax-deferred accounts (workplace plans and traditional IRAs), most or all of your distributions will be subject to ordinary income tax rates. This may leave you with … Continue reading →

If you’re planning on getting married or remarried and haven’t been paying close attention to the wedding industry, you may experience sticker shock as you begin calculating costs. An average American wedding costs the newlyweds and their families about $26,000 — and that’s without the honeymoon tab.1 Even with a carefully pruned guest list and modest reception, it can be difficult to pull off a wedding under five figures. Short of eloping, the best way … Continue reading →

It may seem like the answer to de-cluttering your home after the spring thaw lies in the aisles for storage containers and cleaning supplies that can often cost a small fortune. But getting your house clean and organized can be financially beneficial if you’re willing to wield your creativity and recycling bin at the same time. Go paperless A good first step to getting your home in order is to reduce the amount of paper … Continue reading →

If you’re a small business owner, protecting yourself and your business goes beyond securing proper insurance agreements and building an emergency financial cushion – it also means ensuring that your savings will sustain you throughout retirement. Most of those anticipating retirement have savings plans sponsored by their company, and though you are likely expecting to retire at some point, the process may be more complex in the absence of such a plan. You must determine … Continue reading →

Having a “rainy day fund” in place to help you pay for emergency expenses has long been one of the foundations of a solid financial plan. But the importance of having a cash reserve that is liquid and easily accessible has become more apparent given the hard financial realities faced by many families due to challenging economic conditions. Even if the importance of such a fund is obvious, managing to build sufficient savings can prove … Continue reading →

Diapers, formula and day care – the list of expenses new parents incur goes on. And infancy is just the beginning. The U.S. Department of Agriculture estimates that the cost for a middle-income family to raise a child through age 18 has increased by 40 percent over the decade from 2000-2010, to a startling high of more than $226,000. If you are among those entering the world of midnight feedings and teething rings, here are … Continue reading →

You may be focused on getting in shape for swimsuit season, but take a break from the gym this spring and spend some time on your financial fitness. Here are six tips to help get your investment portfolio into prime condition. 1. Shed the weight of extra accounts. It’s not unusual to acquire multiple retirement accounts over the years, especially if you’ve changed jobs several times. Consider consolidating them to simplify the management of your … Continue reading →

The economy may be plodding toward recovery, but it isn’t moving quickly enough to justify an increase in interest rates any time during the next two years according to the Federal Reserve. The Fed’s first announcement of lowered interest rates came during the recession in 2008, and the latest extension means that rates will remain at historic lows for longer than expected. So how might this impact you? A prolonged low rate environment has several … Continue reading →

March is Women’s History Month, and since women began officially celebrating their political, economic and social achievements over a century ago, they have made significant strides in these areas. And though women have overcome many obstacles, they still face some unique financial and lifestyle challenges. Here are four tips for women to help overcome these challenges when working toward their financial goals.  1.    Plan to live longer on your retirement savings. On average women live … Continue reading →

Raising children is a rewarding experience, but it can be especially stressful for single parents who face extra demands on their time and energy. Being a single parent often means assuming sole responsibility for making sure your children’s needs – and sometimes a few wants – are met. Though there is no fool-proof plan for managing finances, there are things that families led by single parents can do to maintain financial stability: Make a budget … Continue reading →