Using a goal-oriented approach to financial planning can ensure that your financial plan is focused on how your unique set of financial attributes can be used to achieve your personal life goals. Dawn Doebler, Senior Wealth Management Advisor at The Colony Group, outlines some steps for solid financial planning. EachRead More →
When you start earning a steady income, it might seem as important as going from crawling to walking. You might be able to afford to dine at a restaurant you couldn’t before, or maybe you can finally pay your bills on time or consider renting an apartment that suits youRead More →
Valentine’s Day is Thursday. Have you thought about what you will give to your spouse? Cards, flowers, chocolates and dinner parties are great ways to show your appreciation. But the most thoughtful gift of all is a comprehensive plan to protect your family’s finances when you’re gone. The loss ofRead More →
After getting divorced and paying off a large credit card debt, Matthew Barnhart spent years focusing on his finances. His goal: to be able to refuse a job he doesn’t like. Mr. Barnhart, 42, works as a mastering engineer in a Chicago studio, making final adjustments to albums after they’veRead More →
Even people of limited means need a financial plan. After all, everyone must determine how they are going to retire. And it doesn’t take money to make potentially costly financial mistakes, like not having enough insurance, which a good advisor could help you avoid. But a financial plan — whichRead More →
Mindy Ying, President and CEO of Pillar Pacific Capital Management, LLC, believes money management is essential to achieving a person’s goals and dreams. Pictures of Kamala Kirk Mindy Ying, President and CEO of Pillar Pacific Capital Management, LLC, believes money management is essential to achieving a person’s goals and dreams.Read More →
If you came across the following titles while browsing the internet, would you be able to identify the generation for which the author predicted near-certain doom? “America [Insert Generation] Waking up to a grim financial future”… [answer: Millennials] “[Insert Generation] In the face of reality, they may never retire. [answer:Read More →
Opinions expressed by Contractor the contributors are theirs. You are reading Entrepreneur India, an international Entrepreneur Media franchise. It is often said that failure to plan is to plan to fail. These words couldn’t have been truer when it comes to saving and investing. Today income generation is happening, butRead More →
Procrastination is a major obstacle to financial security for many people. There’s a clear reason why so many people procrastinate about their finances, and there are steps that can be taken to overcome this hurdle and take action. Behavioral finance research clearly shows that one of the main reasons peopleRead More →
Financial security is not easy to come by in a volatile media industry with tight budgets and a average salary around $41,000. We know we need to live within our means, save for retirement and prepare for any economic headwinds that may blow our way. But low wages and frequentRead More →
My in-laws, now in their 80s, enjoyed a long and happy retirement. However, as their physical health deteriorated, I had to take over the day-to-day management of their personal finances. As is typical for many of his generation, my stepfather always took care of the money. I have a lotRead More →
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You can hear the term “financial plan” and imagine spending thousands of dollars and hours in a stuffy brokerage office discussing the benefits of a diverse portfolio. Or maybe you think financial plans are only for those who, well, have finances. Not so and not so. Every adult needs aRead More →
Although the basic principles of financial planning are not very different for men and women, certain life events affect the latter more than the former. Many women choose to take time off work to raise their children. In addition, they tend to live longer than men. Combine these twoRead More →
Everyone would need financial security someday, which is why you need to start planning ahead for that time. Here are the things you need to secure yourself financially 1. Have other sources of income Creating another source of income is a great way to have financial security. Spending less andRead More →
While the Tax Cuts and Jobs Act may drastically upset your year-end tax planning, there’s at least one area it won’t completely upset: family holiday gifts. Neither the House nor the Senate tax plan touches on the annual gift tax exclusion, and both preserve valuable strategies for contributing to educationRead More →
The British armed forces will have to wait for a financial settlement until the outcome of the National Security Capabilities Review. Until then, the Defense Ministry’s budgetary problems will remain unanswered. The last British budget did not solve the financial problems of the Ministry of Defense (MoD). Indeed, there wasRead More →
A financial plan with all your long and short term financial goals is essential for a financially secure future. However, because life is uncertain, your financial plan can be negatively affected by several events beyond your control. Due to these unexpected circumstances, having a flexible financial plan is of utmostRead More →
There are many financial milestones in life – buying a car, paying for an education, saving for a house. But when it comes to retirement, a third of Americans have nothing saved for their after-work years. It depends Market weekend guest, Robert Reynolds, President and CEO of Putnam Investments. HeRead More →
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I am a financial planner and I have a confession to make. At the start of my career, I didn’t really have a personal financial plan. Of course, I might have had good intentions and most of the significant aspects of a financial plan were in place, such as aRead More →
So pay your rent on time and take care of the premises, and the risk of being asked to move becomes quite low. Not zero, of course, but unlikely. Be the tenant a landlord wants in their property. Longer-term financial security is certainly the strongest argument for becoming a homeowner.Read More →
If there’s one thing we can all be certain of in life, it’s having to adapt to change. As Grammy-winning singer and entrepreneur Jimmy Dean once said, “I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” Although you may needRead More →
This may seem obvious, even simplistic. But having home equity and retirement accounts are essential for most families’ financial assets and, by extension, retirement security. According to a new study from the nonpartisan Employee Benefits Research Institute (EBRI), home equity and retirement accounts — 401(k)-type plans and IRAs — accountRead More →
Don’t call millennials fickle and irresponsible: they’re not the ones going red for a Samsung S8. A Voya Financial survey found that nearly half (45%) of Americans surveyed were willing to give up their financial security if it meant keeping their smartphone, car or vacation. But this is not theRead More →
Planning for retirement is difficult, in part because it means having difficult conversations. Whether you’re in a relationship or planning for retirement as a single person, there are resources to help you get started. WASHINGTON – Many couples know how difficult planning for retirement can be. Some partners disengage, notRead More →
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What is a financial plan? A financial plan is a document that contains a person’s current financial situation and long-term monetary goals, along with strategies for achieving those goals. A financial plan begins with a thorough assessment of a person’s current financial situation and future expectations and can be createdRead More →
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Being financially secure before you turn 30 may seem out of reach for many people in their 20s, but it is possible. Working toward financial security isn’t necessarily an exercise in self-deprivation, although many people assume it is. Achieving this goal even has immediate benefits as financial insecurity can beRead More →
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Financial plans vs financial forecasts: an overview A financial forecast is an estimate, or projection, of likely future income or income and expenses, while a financial plan sets out the steps necessary to generate future income and cover future expenses. Alternatively, a financial plan can be thought of as whatRead More →
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Are you financially secure? Almost all of the research conducted on the subject in recent years shows that most individuals are unable to demonstrate their financial security; especially in their retirement years. This only underscores the fact that achieving financial security is a difficult process that requires careful planning andRead More →
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Taking a strategic approach to managing your finances is a good way to keep tabs on your progress, but even the most organized person doesn’t always take the time to make an annual financial plan and define what they hope for. achieve financially. over the next 12 months. Even ifRead More →
What is “goal-oriented finance”? It just means that money and wealth are just numbers on a ledger; they are nothing without a goal attached to them. In retirement, this goal is different for everyone. But remember, it’s not about rate of return. Instead, the question is, “What do you wantRead More →
What it means to be financially secure can mean something different to everyone. But that should include being able to meet your current and future needs, while protecting yourself against major financial disaster. And as such, there are three main areas you can focus on if you want a secureRead More →
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A financial planner advises clients to live within their means and spend less than they can afford.poo root/Getty Images/iStockphoto While some people may usher in the new year by curing their hangovers, Bruce Cartwright passes it by making a January appointment with his financial planner. The 77-year-old from Oakville, Ont.,Read More →
Instead of the latest toy or gadget, some people are trying to give their loved ones more financial security this holiday season. While it has long been possible to distribute cash, buy stocks, or contribute to college savings plans, financial institutions and retailers are making it easier to give aRead More →
When you go on a long trip, especially if you’re going somewhere you’ve never been, creating a plan is one of the most important things you can do to get organized and feel safe. confidence to reach your destination. Planning for your future retirement shouldn’t be any different, as itRead More →
It’s easy to know how much we can spend when we’re working: our take home pay minus the little we save for a rainy day. But figuring out how much to spend in retirement isn’t so easy. It depends on when you retire, how much money you have and yourRead More →
Provided by Blake Hansen ChFC, ChSNC, CLU, CASL, a financial representative of MassMutual Intermountain West, a MassMutual agency; courtesy of Massachusetts Mutual Life Insurance Company (MassMutual). When thinking about how to protect your livelihood or build the financial resources you’ll need to live life the way you want, it oftenRead More →
If you’ve postponed your investments citing low surplus, here are a few things you could learn from Mumbai-based Hardik Rathod. Despite a low salary, the 26-year-old has maintained a high savings rate, started investing in mutual funds through SIPs, is about to buy a house, has formulated clear goals andRead More →
I’m in my twenties, just started a new job, and really want to take the path to financial security. What’s the best way to start? –BP For most people, having a job and earning a salary is pretty much essential to achieve financial security. So, in a sense, you haveRead More →
If you think you need to get your finances in order but haven’t taken any action to address it, you are not alone. Some 58% of Americans think their financial planning efforts need to be improved, but 34% of us have done nothing to plan for our financial future, accordingRead More →
Carl Richards is well versed in financial mistakes, not only from his work as a Certified Financial Planner, but also from personal experience. During the last housing bubble, Richards moved to a new town, got swept up in the frothy real estate market, and bought a $575,000 home — wellRead More →
AbstractThe evolution of the US retirement system from company pension plans to individual retirement accounts has placed greater responsibility on workers to ensure the adequacy of their savings and to manage those savings. In the absence of availability or familiarity with appropriate financial instruments, retirees are increasingly self-insuring against variousRead More →