Decoding Financial Advisor Designations
When selecting an advisor, you’ll likely encounter a lot of acronyms and abbreviations that seem to blend together. What do they all mean? What’s the difference, anyway?
According to the Securities and Exchange Commission (SEC), “a financial professional may use various titles whether or not he or she is registered or licensed with a regulatory authority.”¹ It’s important to know that titles like “Wealth manager,” “Financial planner,” and “Financial advisor” are marketing tools rather than professional qualifications.
Charitable Giving—Not Just for the Rich and Famous!
Whether you are Bill Gates, Warren Buffet, or just an ordinary Joe, the gifting principles, tax benefits, and philanthropic rewards of charitable giving can be relatively the same, regardless of how large, or how small, your gifting program.
Don't Ignore Retirement Savings
In part 1 of this blog series we talked about how succession plan is especially important if you want your business to continue well beyond your career or your lifetime. It also matters if you need to monetize your investment by selling the business in future. The first step is to figure out what you want for and from your business in the long term.
Building a business is kind of like being a parent. You start with an infant enterprise that needs constant attention and often deprives you of sleep, absorbs a big chunk of your savings, and pushes all of your hobbies to the back burner. You foster it through various stages of growth, including some rocky times, and help it stand on its own. Eventually, you may rely on it to carry on your legacy and take care of you financially.
Business Owners Should Consider Their Total Risk Factor Most investors understand the notion of diversification.
We hear all the time that spreading our portfolios' holdings across many asset classes is the best defense against losses when the bears hit Wall Street. But as a business owner, there is a good chance that your diversification strategy may not work as you intended. Here's why.
Creating a Risk Management Plan
Small business owners make up most of the U.S. economy. While the statistics are not often reported by the media, according to the U.S. Small Business Administration (SBA), almost 50 percent of Americans either own or work for a small business.
FUNDING YOUR CHILD'S EDUCATION WHILE PRESERVING YOUR RETIREMENT
Save early, save often and understand the alphabet soup of options...
The cost of a college education increases every year, largely unbeknownst to you until you receive the bill. The pile of money you must save is staggering. If you have children, plan for college costs as soon as possible.
When it comes to saving for retirement, maybe you've done everything right. You started early, maxed out your 401(k) plan, invested in a diversified portfolio and avoided costly mistakes, such as cashing out your retirement plan. Fantastic. But now comes the hard part: making sure you don't outlive your money.