According to the most recent information available, Americans have individual life insurance with a total face value of $14 trillion.1 Due to a variety of factors, these individuals may find themselves in circumstances where the specific life insurance policy or annuity contract they own does not suit their needs. They may want to exchange products …
The latest research suggests that divorce rates in the U.S. have been falling in recent decades. Still, many people face the difficult crossroads that comes when their marriage ends.1 Getting a divorce is often a painful, emotional process. Don’t be in such a hurry to reach a settlement that you make poor decisions that can …
“I’m proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money.”Entertainer Arthur Godfrey The irrevocable life insurance trust (ILIT) can be an important estate strategy tool that may accomplish a number of estate objectives; however, it may not be appropriate for every individual.1,2 …
John and Mary are nearing retirement and they have a lot of items on their bucket list. Longer life expectancies mean John and Mary may need to prepare for two or even three decades of retirement. How should they position their money?1 One approach is to segment your expenses into three buckets: Basic Living Expenses— …
The ownership structure of a condominium unit is different from that of a single family house. Here’s what you need to know when purchasing insurance for your condo.1 1. Understand the Master Policy Since the ownership of all common areas is shared with other condo owners, the association of owners typically purchases insurance coverage (a …
Investors are routinely warned about allowing their emotions to influence their decisions. However, they are not often cautioned about their preconceptions and biases that may color their financial choices. In a battle between the facts & biases, our biases may win. If we acknowledge this tendency, we may be able to avoid some unexamined choices …
The reason withdrawals from an Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other than retirement.1 Yet, policymakers also recognize that life can present more pressing circumstances that require access to these …
One of the common threads of a mobile workforce is that many individuals who leave their job are faced with a decision about what to do with their 401(k) account.¹ Individuals have four choices with the 401(k) account they accrued at a previous employer.2 Choice 1: Leave It with Your Previous Employer You may choose …
What kind of role can a financial professional play for an investor? The answer: an important one. While the value of such a relationship is hard to quantify, the intangible benefits may be long-lasting. There are certain investors who turn to a financial professional with one goal in mind: the “alpha” objective of beating the …
High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing apply equally to them as with any other investor, but the affluent investor needs to be mindful of issues that typically arise only from substantial wealth. Let’s examine a few of these. Being Too …
