Loans are not a bad thing. They allow us to make major purchases that would be nearly impossible to pay for upfront. Therefore, it is important to establish a good credit history if you intend on making substantial loan purchases in the future. Establishing Credit It is important to establish credit if you plan to… Continue reading
Risk tolerance is the amount of risk you’re willing to take with your investments. As a general rule, younger investors have more time to keep their money invested and can accept more risk than older investors who will need to access their money sooner, such as in a few months or years. Market volatility is… Continue reading
What Emergency savings accounts are an important part of any financial plan. The purpose of these accounts is to cover or offset unforeseen financial emergencies. Such emergencies can include car repair, medical expenses, or even employment termination. Your account should ideally be separate from your primary savings account. This helps reduce the temptation to spend… Continue reading
Unless you’re planning to move to a new and more expensive city, you probably don’t give much thought to the cost of maintaining your lifestyle – or your personal “cost of living.” But your cost of living can change without a cross-country move. You might buy a car that’s more expensive than your last one…. Continue reading
Should you make it a priority to retire your debts before you retire? As with other aspects of your financial planning, the answer depends on your personal goals and situation. A debt-free retirement is a goal for many Americans if for no other reason than the peace of mind it can bring. Among retirees surveyed… Continue reading
Navigating the world of investments can prove difficult. It’s easy to get overwhelmed, lost and frustrated with the process. But the sooner you understand the process, value, and importance of investing, the more likely you are to achieve financial security in the future. Here are some tips you should consider to help ease the investing… Continue reading
Personal finance experts tell us that ideally we should have 3-9 months’ worth of expenses saved in an emergency fund. But in reality, 63% of Americans don’t even have enough savings to cover a $500 emergency.¹ So why do so few follow the experts’ advice? Because for most of us, there is only so much… Continue reading
Saving more for retirement with an Individual Retirement Account (IRA) can be a smart financial choice. And for those of us saving for multiple financial goals at once, an IRA can offer more flexibility than an employer-sponsored retirement plan. Which Type of IRA is Right for Me? Deciding to save for retirement with an IRA… Continue reading
It’s no surprise that millennials are the most educated generation to date. Almost 27% of those born between 1981 and 1991 holds a Bachelor’s Degree or higher.¹ However, the benefits of holding a degree are sometimes outweighed by the debt that comes with earning it. The average millennial is graduating with approximately $30,000 in student… Continue reading
Make the Most of Your Planning by Remembering These Key Ages While your path to retirement is unique, there are certain ages that stand out for everyone. Keeping these key ages in mind will help ensure that you are able to make the most of your planning years and avoid penalties for not taking action… Continue reading