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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

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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

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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

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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

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It is one of the most hotly debated topics in the financial industry – and it’s also one of the most misapplied topics too. Are investors better off utilizing passive or active strategies? Or should investors combine the two? But before you answer, I want you to think about this: passive vs. active should apply to strategies – not investing. There is a big difference. Passive vs. Active Strategies Truth: there is simply no one

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A look at some popular & obscure options for receiving money with little or no tax. Provided by Barnes Capital Group   Will you receive tax-free money in retirement? Some retirees do. You should know about some of your options for tax-free retirement distributions, some of which are less publicized than others. Qualified distributions from Roth accounts are tax-free. If you own a Roth IRA or have a Roth retirement account at work, you can

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STAY INVESTED TO STAY AHEAD OF INFLATION One of the leading threats to the quality of your retirement is also one of the subtlest. You may have heard that inflation is all but absent, but that is not the case – the core Consumer Price Index (minus energy prices) has risen 1.9% in the past year. At some point, the supply glut in oil will disappear and oil prices will rise, driving costs of everything

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