Living within your means is a great idea, but it may not grow your wealth. Some believe that financial planning is an exercise in living within your means. From my perspective, that is not the entire story. Spending within your means may not have you allocating your money into categories that will sustain you through
It’s a fairly well-known fact that money can be one of the biggest sources of strife in a relationship. In fact, according to a survey of professional certified divorce financial analysts, it’s the third leading cause of divorce in North America (behind basic incompatibility and infidelity, respectively). Summer is the most popular season to get
There are a few money concepts everyone should know by the time they’re 30 if they want to build wealth. Compound interest, bear market and bull market, and diversification are important terms for investors. Net worth, interest, and inflation are good for even non-investors. When it comes to personal finance, education is power. You may
We all need savings for life’s many financial surprises. Here’s how to build them up. Life has a way of hitting us with unplanned expenses. You never know when your car might break down, your roof might spring a leak, or an injury might land you in the hospital with a whopping bill to boot.
Clients often ask, “Why do I need a trust?” This question comes up even more frequently since Congress passed the Tax Cuts and Jobs Act of 2017, which increased the federal estate tax exemption amount from approximately $5 million per person to $11 million per person or $22 million per couple. Those amounts are adjusted
Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective. Klaus Vedfelt/Getty Images When Cheryl Lock and her husband sat down to figure out their life insurance policy,