529 savings plans are a way to gift education expenses for those who wish to invest in a child's future. Funding a 529 plan is considered a gift to the beneficiary for estate tax purposes, and all contributions and earnings grow tax-free outside of the donor's taxable estate. As a gift giver, you can open [...]
Protect Your Children from Their Inheritance Wealthy families often find themselves grappling with how to effectively pass along assets to their children while ensuring those children are ready for the responsibility. As we tread towards the largest generational wealth transfer in history, there is a growing need to ensure those inheriting the assets are adequately [...]
The Newlywed’s Guide to Money Mastery Married life is not just a romantic journey but also a financial partnership. As newlyweds, mastering money management is crucial for laying the foundation for a prosperous future together. From merging bank accounts to planning long-term goals, navigating finances as a couple can be challenging and rewarding. This guide [...]
Keep Politics Out of Your Portfolio In our current environment, where political news comes from every direction, it’s important to remember the importance of impartiality in your portfolio. There is a certain allure of aligning your portfolio with your political beliefs, but the lessons of history underscore the significance of maintaining a clear boundary between [...]
We All Have Money Blind Spots Blind spots, in the realm of investing, can be likened to the unnoticed smudges on a pair of glasses. They obscure a clear view of reality, but they can easily go unnoticed. In the world of finance, this can have costly implications. Imagine Sarah, an IT executive. She's tech-savvy [...]
Ways a Financial Professional Can Assist You Asking for help is a strength, not a weakness. Here are 10 ways a financial professional can assist you: Often, there is a misconception that seeking financial help indicates incompetence or a lack of financial self-sufficiency. However, seeking help is the exact opposite. High-performing individuals who excel in [...]
Keep Control; It’s To Your Credit Are you one of the many American consumers currently asking yourself, “How can I better control my use of credit?” Consumer debt in the United States totals in the billions. Much of this debt belongs to consumers who use credit wisely, but a considerable amount is owed by people [...]
Debt-to-Income RatioExplained Debt-to-Income Ratio Explained If you’re considering purchasing a home, the debt-to-income ratio (DTI) is an important term to familiarize yourself with. Your DTI can ultimately make it easier or harder for you to qualify for a mortgage. So knowing your DTI can help you better understand how you can best move forward into [...]
Retire in Style: Early Retirement and Estate Planning Strategies for Young Adults Retirement and estate planning might feel like distant concepts for those in their 20s and 30s. Yet, starting early on these financial considerations can provide substantial benefits down the line. This comprehensive guide, courtesy of Bob Chitrathorn, offers valuable insights and strategies for [...]
13 POTHOLES to Avoid on the Road to Retirement 1. NOT HAVING A MONTHLY BUDGET A budget is a spending plan based on your income and how much money you will spend over a set period, such as a month. Following a budget can help create financial stability because it provides an easy way to [...]
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