The current global pandemic certainly has spun our lives around. I’m taking COVID-19 very seriously, doing my best with social distancing and preventing any potential spread of the disease. But I miss seeing my dad. I do wonder, “would hanging out together be worth the risk?” Even though we’ve been following the guidelines, I know…
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Today I’m sharing what a letter of instruction is and how to quickly create one. In fact, ignoring this simple task could cause major challenges for your heirs when you pass away. If you want to simplify things for your family when they settle your estate, keep reading. What is a Letter of Instruction? To…
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Today I’m sharing how the new Inherited IRA Rules might stick your retirement account beneficiaries with a large tax bill. In fact, if your family trust is a beneficiary on any of your retirement accounts, the new tax law could cost your loved ones dearly. If you want to understand what to look for and…
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The Investment Policy Statement (IPS) is a document that dictates how you invest your money. If you’re working with a financial planner, the Investment Policy Statement (IPS) will also dictate how they invest your money for you. While he/she will make smart investment decisions on your behalf, you will likely want to have some say…
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Is now a good time to buy a house? Or should you wait to see if the real estate market completely implodes? After all, the next real estate crash – spurred by massive unemployment from the current coronavirus pandemic – is just around the corner. Or is it? It’s a fair assumption. After all, real…
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Today we are breaking down credit scores, credit freezes, and how to keep your personal information secure. By the time you’re done reading this post, you should have a general idea of: How your credit score is determined Why your credit score is wildly important The process for improving your credit score Step-by-step how to…
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Are you better off putting extra money into your 401(k) instead of purchasing a life insurance policy? While investing in your 401(k) is a must if you want to retire, leaving your family without a life insurance policy can impact them greatly if you die prematurely. Here’s how it works. Today’s question comes from Phillip….
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In today’s post, we’re doing a case study on whether whole life insurance is a cost-effective way to invest for your retirement. Whole life insurance is a type of permanent life insurance where a life insurance policy and investing are combined into one product. Sounds convenient and easy, right? Not so fast. We’ll break down…
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