Many people know that they're eligible for Social Security benefits, but did you know that there's also a provision to provide for spouses, regardless of whether they've contributed to the program? You might also be eligible to claim spousal benefits if you're widowed and, in some cases, even if you're divorced.
Have you ever set a financial goal for yourself with the best of intentions, only to find yourself derailed after a few months? If so, you're not alone. Just look at how many people start the New Year off with a brand new gym membership, only to stop going after a few months. Let's get back to the basics of financial goal setting so you can set yourself up for success.
The White House recently forgave up to $10,000 to student loan borrowers as part of a larger debt forgiveness program. There are still quite a few questions to be answered, but here are some key points to know.
When it comes to life insurance, there are many choices: Whole life. Variable universal life. Term. What do these descriptions really mean? All life insurance policies have two things in common: They guarantee that they will pay a death benefit to a designated beneficiary after a policyholder dies (although the guarantee may be waived if the death is a suicide occurring within two years of the policy purchase). All require recurring payments (premiums) to keep the policy in force. Beyond those basics, the differences begin.
"Will I outlive my retirement money?" This is one of the top fears for people who are starting to prepare for their retirement years. Determining how much money you need in retirement is a process. It shouldn't be a number that you pull out of thin air.
College tuition is at an all-time high. As of 2022, the average student loan debt is about $39,000 per student, and the average monthly student loan payment is nearly $400. It's no wonder parents want to help their children pay off their student loans as quickly as possible. Paying off this debt could help set your child up for success as they make important financial choices, such as applying for a mortgage.
I think most people do a good job of forecasting or predicting what could happen in the future, except for the true surprises. The biggest risk really to many is what you don't see coming. If you don't know to prepare for it, how would you deal with the damage that is amplified when it hits you?
On behalf of your patients, Thank You. In a world where medicine is prescribed before learning about the person, you bring the human and natural side back to practicing medicine.
Smart investors know that trying to time the market is often a losing game. Instead, you plan ahead and invest in such a way as to minimize risk and maximize your returns. Whether you’re a seasoned investor or just getting started, dollar-cost averaging could be beneficial.
While a will is a far more complicated document than a note, leaving a will for your family is not only a considerate move on your part; it may prevent your family from dealing with several hurdles and complications after your eventual passing. It’s a good idea to think carefully about making a plan for you and your estate when you die.
Living trusts are created with a clearly defined objective: to avoid probate. Misconceptions about living trusts have spread to the point where people think trusts can accomplish much more than they are designed to. But if you are worried about your will being contested or your heirs fighting over your assets, a revocable living trust may be your best option.
I have had many clients not realize their social security could be taxable. So when you are talking to your advisor about retirement planning, make sure you consider the taxation on all your money. This is why it's so important to have different buckets of money that is taxed differently. Here is the formula to help figure out how much of your Social Security could be taxable.
