What is a CFP and Why You Should Hire One
A CFP is a certified financial planner who has met rigorous standards of education, experience, ethics and exam. Learn what a CFP can do for you and how to find one.
A CFP is a certified financial planner who has met rigorous standards of education, experience, ethics and exam. Learn what a CFP can do for you and how to find one.
If you inherited a 401(k), you need to know your options and take the right steps to avoid unnecessary taxes and penalties. The rules for inheriting a 401(k) depend on your relationship to the original account owner and the type of 401(k) they had. This article will explain the general guidelines for spouse and non-spouse beneficiaries, and provide some useful resources to help you make an informed decision.
A financial advisor is more than just an investment manager. They can also help you with insurance, estate planning, and referrals to other professionals. Learn how a financial advisor can listen to your goals and dreams and help you achieve them.
How to invest in a 401k is one of the most common questions I get as a financial advisor. In this article, I will explain the factors that affect your 401k investment choices, such as your risk tolerance, your goals, and your options. I will also share how I can help you with a free complimentary 401k review.
Life insurance is often more affordable than you might think, particularly when compared to car or home insurance. If you have a family or dependents who rely on your income, there's really no reason not to consider life insurance. Unless you have substantial savings that can sustain your loved ones for the long term, a term life insurance policy is essential. Fortunately, good term life insurance is budget-friendly. The reason for its affordability is that it only pays out in the event of the policyholder's death, and the likelihood of that happening is relatively low, especially at a younger age. For instance, when I was 29, I obtained a $1 million 20-year term life insurance policy for just $33 a month. Even for individuals in their 30s and 40s, monthly premiums typically range from $40 to $50 for coverage amounts of $500,000 to $700,000. Considering the substantial coverage you receive, these premiums often amount to just one less day of dining out.
Navigating the World of Retirement Plans Are you puzzled by the differences between a 403(b) and a 401(k)? You're not alone. Many individuals find themselves in the same boat, wondering why these retirement plans seem so similar yet bear different names. The truth is, they share more in common than you might think. In this article, we'll unravel the mysteries surrounding 403(b)s and 401(k)s, helping you understand the key distinctions and, more importantly, how these plans can work for your financial future. When it comes to saving for retirement, it's crucial to grasp the intricacies of your chosen plan. So, let's embark on a journey through the world of retirement savings and discover how a simple tax code can give rise to distinct titles for similar financial tools. Whether you're considering a career change or planning for retirement, this information will empower you to make informed decisions about your financial well-being.