Your parents took care of you growing up, and now as they grow older, the tables have turned. There can be changes to both your finances and lifestyle, which is why it's important to be prepared.
If you thought that homeowners insurance covered flood damage you're not alone. It's a common misconception, but it's not something you want to find out when disaster strikes. We'll take a look at the basics of flood insurance and why you should consider getting your home covered.
Ah, the holiday season. For many this can be the most enjoyable time of year, spending much needed time with friends and family. This is also a notoriously busy time, and sometimes, managing your finances inadvertently gets put on hold. If you're over 70 ½, or will be by the end of the year, forgetting to take your required minimum distribution can have major tax consequences.
An occasional question we get from clients when markets are doing well, as they have been in the past few years, is “should we take some profits now, so we can be well positioned when the markets fall next?” The short answer: No.
What is most important to you? What are your goals? Any discussion about savings, spending, budgeting and/or retirement should begin with those basic questions.
So, what happened in yesterday’s markets? A 3% decline. What will happen today? Either it will be up or down. In neither case should you change your investment strategy.