The landscape of retirement savings options is broad, offering various strategies for future financial independence in retirement. Many people are familiar with 401(k)s, 457(b) plans, SIMPLE IRAs, Simplified Employee Pension Plans (SEPs), and profit-sharing/stock purchase plans. In addition to these retirement savings plan options, a Cash Balance Plan (CBP), also known as a Cash Balance […]
A successful business isn’t only about having an outstanding service or product that consumers desire. Success also includes managing day-to-day operations, strategic planning, and financial matters efficiently to create stability and growth for the company. Central to business success is corporate cash management, also known as treasury management. Understanding corporate cash management provides valuable insights […]
A personal credit crisis is something many people fear, as it can lead to financial ruin and burden an individual with immense debt. Fortunately, steps can be taken to avoid such a crisis, even for high earners who may seem financially secure. When managed poorly, credit can invite various potential issues, including problems with enforceable […]
Understanding the implications of CPI and PPI is crucial for investors In the ever-evolving world of finance, staying abreast of economic indicators is crucial for investors looking to make informed decisions. One such key indicator is inflation, which recently made headlines with the release of data in early January 2024. According to the report from […]
If you have a 529 education savings plan, it can now be converted to a Roth IRA. Both plans are funded by after-tax money. Initially, the money put into a 529 plan had to be used toward education expenses. If, for whatever reason, the money wasn’t needed for educational expenses and it was withdrawn for […]
Choice between value and growth as interest rates decline is not clear-cut In the world of investing, the eternal debate between growth and value continues to captivate the minds of investors. As we navigate through 2024, the question looms large: Will growth once again reign supreme over value, especially in the backdrop of the widely […]
In times of market volatility, when inflation is increasing, the Federal Reserve will raise interest rates to help to cool the inflation spike. During this period, people are anxious and keep a tight grip on their wallets. In time, the Fed can put a halt on the interest rate hike. This pause is a breath […]
A perspective shift occurs in the wealth landscape; many now recognize health as the new wealth. Healthcare, long-term care (LTC) insurance, and other wealth-related financial instruments have become essential considerations for HNW individuals. In this article, we discuss understanding health as an invaluable asset, the necessity of LTC insurance, and the healthcare needs and considerations […]
The highly sought-after six-figure salary isn’t what it used to be. Time Magazine reported a startling statistic from a survey conducted by the financial insight and advising companies PYMETS and Lending Club which found that 51% of people earning more than $100,000 reported living paycheck to paycheck. When they explored over 70 cities and how […]
Starting a new business is no small feat. It involves several of steps, from the early planning stages to filling out the necessary legal documents. Here are 10 steps to consider when starting a new business. 1. Create a business plan A well-defined business plan is essential because it helps establish achievable goals and a […]