Financial Planning

What sort of structure makes the most sense for your small business – a corporate structure or a sole proprietorship? If neither structure fits you well, perhaps the best choice for you is a Limited Liability Company (LLC) – a structure that represents a middle ground between a regulated corporate structure and a simplified sole
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Do you consider yourself a financial risk-taker? If so, what is the standard that you use to analyze risk? If you don’t fully understand risk, you may be looking at the wrong criteria to make the best financial decisions for you and your family. A recent survey by AMG Funds suggests that very few investors
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For many people, the end of the year represents a hectic time, and the last thing anyone wants to do is add to an already full plate. However, building the following financial moves into your fourth- quarter routine can really pay off over the long run and give you greater peace of mind for the
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Do daily finances give you daily heartburn? You aren’t alone. According to a new survey by the Consumer Financial Protection Bureau (CFPB), 43% of Americans have trouble making ends meet. One-third of survey respondents reached the level of financial or material hardship during the past year, such as running out of food or being unable
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With summer ending, the end of the year will be around before you have time to figure out whether it is better to finally take down the Christmas lights or, at this point, just leave them up. That makes it a good time to look ahead on your taxes, as well as a few other
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Have you ever seen ads for “Get Rich Quick” books? We suspect the only person getting rich quickly is the author selling his book! Perhaps the first page of the book reads, “The secret to quick riches is to publish and sell a book on getting rich quick.” At MoneyTips, all of our eBooks filled
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When it comes to saving for retirement, low-income families can have difficulty finding a suitable program that meets their needs – but it’s especially important that they do find one. Everyday bills and unexpected emergencies can easily push lower-income Americans into difficult financial positions without having a regimented savings program to help with budgeting and
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April is National Financial Literacy Month. Why do we dedicate this calendar page to highlighting financial skills and education? The tax deadline? Sound financial decisions are important all year long, but most Americans never learned how to manage money or save for goals, so financial security is a bigger challenge than it needs to be.
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Getting out of debt can be challenging, especially if you have little experience in managing your finances and need support. Using a counseling agency can be a great way to get debt relief. The agency can possibly negotiate reduced interest rates for you to pay back all your unsecured debt. You then make a single
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Individual Development Accounts (IDAs) may be the best resource for low-income Americans that you have never heard of. They are matching savings accounts that are targeted to promote savings in lower-income families and help them to achieve a savings goal that might otherwise be beyond their reach. Typical goals are buying a home, starting a
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Are lottery tickets a component of your retirement program? Then you sound like an extreme risk-taker when it comes to investing. Do you throw up every time you hear that the stock market dropped? Then odds are you are a conservative investor. All kidding aside, it is wise to take time to seriously assess your
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You can finally see retirement in the horizon – lounging on the beach, jetting around the world, or puttering around in your backyard. Whatever your goals are, you will soon be realizing them, assuming you have saved and invested wisely. How should your investments be rebalanced as you approach your retirement goals? The answer to
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Ever since you were a child, you were told to save your money. But as an adult, you are told that saving money, as opposed to investing it, isn’t always the best strategy. What’s the real story? You should, of course, maintain a liquid safety net and manage your debts wisely. But sitting on a
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Disaster planning is a critical exercise for most businesses. The idea is to devise contingency plans for the continued ongoing operation of the company in the event of a major storm, fire, terrorist attack or other natural or man-made disaster. In the same way, individuals should do some financial disaster planning so they can be
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Financial professionals have a greater understanding of the value of social media and are seeing dividends from increased use of social media. That is the essence of the findings from the annual Financial Professionals Social Media Adoption Study from American Century Investments. The vast majority of financial professionals have at least some experience with social
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Asset allocation models usually refer to the mix of three asset classes in your investment portfolio: stocks, bonds and cash – although cash is sometimes unwisely lumped in with bonds. The three major issues in picking an asset allocation model are: Goal – What is your investing goal? As the saying goes, if you don’t
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