With the end of the year approaching, it’s a wonderful time to begin organizing your finances for the new year. We’ve put together a list of important financial planning topics that warrant consideration….
Investors hear a lot about the benefits of asset allocation, that is, spreading your assets among different types of investments to help reduce risk. But less discussed is an equally important measurement: correlation, which is a way to measure how closely related two types of investments are. In theory, you could be invested in multiple securities of differing types and classes, but if they are all closely correlated, your portfolio may not be as diverse as you think — and could open you up to more risk than you intended….
Your options in managing assets that you inherit from a loved one’s qualified retirement plan may depend on the type of plan in question — for example, 401(k)/403(b) plan or IRA — and your relationship to the deceased….
You work hard all your life to make ends meet, and if possible, set aside money for people you care about. Developing an estate plan can help ensure that your wishes are carried out after you’re gone….
A college education is one of the best investments you can make for your child’s future. But the high cost of college may alarm you — especially if you’ve waited too long to begin saving. For example, a Coverdell Education Savings Account (formerly referred to as the Education IRA), with its annual contribution limit of…
Disability insurance addresses lost wages that stem from an inability to work. Long-term care insurance, in contrast, addresses expenses associated with medical care provided to you in your home, a nursing home, a rehabilitation center or an assisted living facility….
If you recently inherited retirement assets from a deceased loved one, it is important to pay attention to IRS rules that govern this type of bequest. Your options in managing this money typically depend on your relationship to the deceased and the type of retirement account (401(k) or 403(b) plan, IRA or annuity that you…
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