Life insurance is universally recognized as an essential pillar of a financial plan for providing much needed capital in the event of a breadwinner. It is also fundamental to other planning needs, such as estate planning to pay for settlement costs and taxes, and business planning for business continuation or key person protection.
Much has been written and discussed about the evils of annuities. In fact, I am frequently asked about annuities by clients and future clients. Of course, like so many things, an annuity is neither inherently good nor bad. In fact, the only relevant question is: Is an annuity good for YOU?
Imagine the following scenario: You run a successful business with your business partner of 20 years. Your business partner dies unexpectedly. After the funeral, your deceased partner’s spouse shows up at your office with her two grown children. They ask for the key to your partner’s office – not to clean it out, but to move in.
Your approach to building wealth should be built around your goals & values.
How can you convey its importance and its meaning?
Each generation faces unique challenges and opportunities when it comes to managing finances at different life stages. Alloy Silverstein provides the following do's and don'ts to help Millennials stay on track with their finances.
Yogi Berra was definitely quotable. The above title is attributed to him. Let’s assume that now you are in your 40’s, have established yourself in a career, and are thinking that you have made too many “wrong mistakes” financially to meet some or all of your family’s needs. Not necessarily. What you need to do is START with a plan.
Should you save it? What are smart ways to spend it? Following is some advice in deciding how to handle a windfall of income.
The Personal Financial Organizer