General Finance

Many pre-retirees and retirees consider a reverse mortgage to help supplement their income for monthly expenses. As is the case with every financial decision, it’s important to know exactly what you’re getting from a reverse mortgage, and whether it fits into your financial plan. This blog is intended to provide an overview of this complex topic.  More information can be found through the links provided throughout the post.

When people hear “financial advisor” they often think of someone hunched over multiple computer screens, day trading, and trying to “beat the market.” In reality, this image couldn’t be farther from the truth.

While many financial advisors help their clients create and implement an investment strategy, they certainly aren’t day traders who exclusively spend their time crunching numbers and trading stock! This specific view of advisors often lends itself to people believing that financial advisors are only for the wealthy, or for people who are nearing retirement.

Do you have a graduating high school senior in your life? Supporting soon-to-be college students is a priority for many families, especially as tuition rates continue to climb. Luckily, there are several ways you can consider supporting your new grad as they start this next chapter in their lives.

Have you ever thought about being a landlord?

There are many ways to diversify your investment portfolio, and investing in real estate is one of them. Many people buy properties with the intent to rent them, especially in highly populated areas like big cities and college towns. But before you shell out thousands of dollars for a down payment, consider these crucial points.

Unexpected emergencies happen all the time, but we never think they’ll happen to us - or to our loved ones. Emergencies are stressful, and often expensive, times of life that can put an unnecessary strain on your financial and emotional life.

But it doesn’t have to be that way. Although emergencies are (almost) always a surprise, there are still ways you can financially and mentally prepare.

The holiday season is in full swing--family begins to arrive, gift wrap covers the floor, and the oven seemingly won’t recover from all the work it has been doing. This time of year is busy for many people. With the swirl of the holiday itinerary, money seems to be left on the back burner for the new year. By that time, it is often too late to recover from the tiring workout you have put your finances through this season.

A financial advisor is a professional who helps you manage your finances and investments, teaches you about important options and aids you in making smart decisions toward your overall financial goals. But did you know that in order to maintain their license, your financial advisor must pass a rigorous national examination and complete ongoing educational requirements annually? Certified Public Accountants (CPAs), Chartered Financial Analysts (CFAs) and Certified Financial Planners (CFPs) must adhere to a strict code of ethics and work in the best interest of their clients, disclosing any conflicts of interest. These advisors must act as a fiduciary, and typically are paid solely from client fees and do not sell products. They truly value their relationship with you, the client.

You’re scrolling through social media when you see an image of those big-eyes and sweet face that says “pick me!” Before you know it, you’re heading into the local animal shelter or breeder to find your newest family member. Those who know me know that I am a committed and incurable dog lover. We have a pack of four rescued dogs and one foster dog at this time, and can’t imagine life without them!  

Falling in love with a new pet is easy. They can provide a lot of joy to you and your family. However, making the decision to adopt a pet shouldn’t be taken lightly. While pet ownership is extremely rewarding, it is also a big responsibility both in time and resources. Here are some things you may want to consider prior to pet ownership.

Most people understand that becoming a victim of identity theft can lead to credit problems and financial woes, but there are many more ways identity theft can impact your life than you might realize. According to the 2016 Aftermath Study conducted by the Identity Theft Resource Center, identity theft creates more than just financial problems; it can also negatively impact employment, housing, medical treatment, etc.

So, how many of you have run into the following issues? You established a money jar system for your kids to learn how to budget their allowance — only to realize you never remember to get cash out of the bank (because who uses cash these days?). You sit down to discuss financial responsibility and savings only to find them bored and itching to get back to playing Roblox or Minecraft on their device. If this sounds familiar, you’re not alone. So why not give the old school piggy-bank system a digital upgrade. Use an app to teach your child about financial responsibility.

Estate planning is one of those topics that often makes people uncomfortable. Most of us don’t want to think about what’s going to happen after we die, or some of us feel like we don’t have enough assets to warrant needing an estate plan. The truth is everyone needs a plan. Your estate is comprised of everything you own — your car, home, other real estate, checking and savings accounts, investments, life insurance, furniture and other personal possessions. So, no matter how modest your estate might be, you’ll still want to manage who receives each item and when they receive it. You’ll also want to include medical and financial directives so others know your wishes. Here are five simple components of an estate plan.

Trying to decide whether or not it makes sense for you or your partner to become a stay-at-home parent? We know this is not an easy decision to make for most families. While there are numerous benefits to having one parent stay home with the children, there are also financial adjustments that need to be taken into consideration. Families need to have a financial plan to help mitigate any financial challenges created by the loss of income. In order to help your family make the best decision, here are a few helpful steps you can take to help determine the financial feasibility of one parent staying at home.

The beginning of the new year is an excellent time to review your financial goals and set your resolutions. Financial resolutions can help you successfully reach your short- and long-term goals. Financial goals could include items like going on a fabulous vacation, purchasing a new home or increasing retirement savings.

Are you debating switching from your current Medicare Advantage plan to Medicare Supplement Insurance? Before you decide, let's do a quick review of the differences between the plan types:

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