The idea of financial planning is, by its nature, about managing your finances. But can it go beyond simply adding to your pile of wealth or growing investments? Can a financial plan help you in other areas of your life? It can, and here are a few ways it does just that. 1. You Learn What You Value When you make definite plans for the financial resources you work hard for, you learn about yourself.
30 December 2020
If you have a 401k, you are likely off to a great start. However, simply having this type of account does not necessarily mean that you are prepared for retirement. There are several things that a person can do wrong with their 401k account that may do more harm than good. You must know what mistakes to avoid to get the most out of your account. Prioritizing Short-Term Needs Over Long-Term Plans
14 September 2020
Whether you plan to handle the job yourself or go to a financial advisor services firm for guidance, it's important to develop a plan for your future. To that end, let's review three financial planning tips that should be on everyone's minds. Deal with Any Bleeding First If you have outstanding debts that are eating you up, such as a high-interest loan or a payment plan with balloon payments coming soon, getting those off the books has to be your first priority.
19 November 2019
Your 30s is the perfect time to chart out and start to plan for your retirement even though your official retirement plan may be a ways off. Planning for your retirement is about creating a comprehensive plan that will allow you access to multiple income streams when you hit retirement age. #1 Open Up that 401(k) In your 30s, you are more than likely finally working a jog that offers you a 401(k).
22 March 2019
Making the most of your money will require the right amount of effort on your part. Of course, putting your cash to work by investing it is the ideal way to do so. The good news is there are many financial advisors that can allow you to have the most significant amount of success with this task. Being aware of the many benefits of relying on this professional may be beneficial to you.
26 March 2018
When you log into your investment account, the last thing you want to see is that your account has experienced a dramatic drop in its value. However, this is a sight practically guaranteed to greet every investor at some point. Check out a few things you can do to hedge the value of your portfolio against market volatility. 1. Keep Your Cool Remember, you do not incur losses until you sell the investments that have experienced a loss.
26 February 2018
Does your medical practice accept medicare? If so, the reimbursement schedule for treatment changed as of January 2017. This new payment schedule was part of the The Medicare Access and CHIP Reauthorization Act of 2015, or MACRA. Under the new program, you have two options. You can accept a reduced reimbursement payment based on a flat-rate table of you can participate in the Merit-Based Incentive Payment System, or MIPS. There are both pros and cons to participating in MIPS.
20 November 2017
Planning for your financial future is one of the most important things that you can do to improve your quality of life and ensure you will have the ability to retire. Unfortunately, there are people that will frequently lack the training o experience to confidently oversee their financial planning needs. For these individuals, working with a professional financial planner can help them in a number of ways, and learning more about what to expect to get the most for these services can be very beneficial.
17 September 2017
Any time you are looking to make the most out of your financial life, it is important that you think with the long term future in mind. More specifically, you need to be sure that you are planning for retirement, so that working into the elder years of your life is an option and not a necessity. Properly planning for retirement is a large scale issue, but can be summarized in the three points below.
28 February 2017
Getting a divorce is never enjoyable, whether it was initiated by you, your spouse, or both of you. After many years, things can be very tricky because everything must be split up in even proportions. This ranges from money and possessions to children and pets, and these are not easy matters to handle. If you were in a living situation that had you hardly involved with the finances, you may be at a complete loss after the divorce.
10 August 2016