BCG_PHOTO_FEB2019_MARRIAGENEWINVESTMENT_CG_V01

There are a lot of issues that couples need to think about when tying the knot -- wedding preparations, family, and, of course, finances. Addressing personal finance and investment issues before the big day may help improve your odds of being together years later. Here are some financial issues that you might consider when embarking on a matrimonial journey. Discuss financial styles before marriage. Start your marriage off on the right foot by having an

Read more

BCG_PHOTO_FEBRUARY2019_FINDINGHAPPINESS_CG_V01

Marriage affects your finances in many ways, including your ability to build wealth, plan for retirement, plan your estate, and capitalize on tax and insurance-related benefits. Here are some considerations to keep in mind if you are thinking of getting married or have just tied the knot. • Building wealth -- If both you and your spouse are employed, two salaries can be a considerable benefit in building long-term wealth. For example, if both of

Read more

BCG_PHOTO_MARCH2019_LIABILITYPROTECTION_CG_V01

The risks to your wealth aren’t only in the financial markets. The wealthier you become, the more liability protection matters. We live in a litigious world, one in which even friends and neighbors can be convinced to see opportunity in the wake of misfortune. A (larger) umbrella liability policy may be an excellent idea. Could you afford a six-figure drawdown of your personal assets to settle a lawsuit? Ideally, you have umbrella liability coverage with

Read more 42

BCG_PHOTO_SEPT2019_401KPLAN_CG_V01

Here are some options for getting the most out of multiple retirement accounts. You may have had multiple jobs over your career, and left behind retirement account balances of critical building blocks for your retirement. Here is a short guide to your options of what to do with a retirement account left with a former employer: Roll it over to an IRA • A rollover IRA allows you to continue any tax-deferred growth. • A

Read more 0

BCG_PHOTO_NOV2019_CHARITABLEIRA_CG_V01

Wondering what to do with your annual IRA Required Minimum Distribution? If you can live without the income (and taxes) that a large Required Minimum Distribution (RMD) generates, think about taking a Qualified Charitable Distribution (QCD) from your traditional Individual Retirement Account (IRA) to satisfy your Required Minimum Distribution requirement. If you are a traditional IRA owner aged 70½ or older, you can gift up to $100,000 a year to a qualified charity this way.

Read more 0

BCG_PHOTO_MAY2019_BUYINGLIFEINSURANCE_CG_V01

Conventional wisdom says that life insurance is sold, not purchased. In other words, some people are reluctant to discuss the importance of owning life insurance, and others are simply unaware of the need to have life insurance. Although many large companies provide life insurance as part of their benefits package, this coverage may be insufficient. Who needs life insurance? If there are individuals who depend on you for financial support, or if you work at

Read more 0

BCG_PHOTO_NOV2019_CHARITYGIVING_CG_V01

In addition to the altruistic and goodwill benefits any charitable contribution brings, it can also have significant tax advantages. When deciding your estate-planning strategies, consider a charitable contribution to help the charity of your choice as well as provide you with a steady stream of income and potential tax benefits. There are different options for setting up a charitable contribution through your estate plan. The easiest is a simple bequest through your will. Remember that

Read more 0

BCG_PHOTO_JAN2019_UNDERCUTTING_CG_V01

Good money habits can help you as you save and invest for the future. Bad habits can leave you treading water (or underwater) financially. Here are some to avoid. Not saving enough. Instead of paying themselves first, some families pay others first. Dollars they could save and invest are instead spent on consumer goods and services they don’t need. Money that could be saved and invested for tomorrow is spent today. Carrying too much debt.

Read more 0

BCG_PHOTO_DEC2019_PERSONALBACKUP_CG_V01

The managers of well-run businesses usually name "backups" to keep things going smoothly -- just in case. That's also a smart plan for your personal finances, where you risk experiencing financial losses or other difficulties if you can't make your own decisions because of a long illness or other unexpected problem. You might prepare for this unhappy possibility by giving a family member or another trusted individual the legal power to act for you if

Read more 0

BCG_PHOTO_JAN2019_FINANCIALLYFIT_CG_V01

If you don't have a financial plan, that question may be hard to answer. To achieve financial wellness, you need to define your goals and set a time frame for reaching them. The following steps can help you take control of your finances. Build a Budget A good place to start would be with a budget. Tracking your expenses can help you determine how much money you have coming in each month and how much

Read more 0