Financial Learning Center 2018-02-04T23:38:08+00:00

Financial Learning Center

It costs $233,610 to raise a child

Kathryn Vasel - CNNMoney If you're thinking of starting a family, you might be in for some sticker shock: Raising a child could cost you nearly a quarter of a million dollars. A middle-income, married couple with two children is estimated to spend $233,610 to raise a child born in 2015, according to a report released by the Department of Agriculture Monday. And that number only covers costs from birth through [...]

Stay the Course With an Investment Policy Statement

James Brewer, CFP®, CRPC®, AIF®  Investopedia James Brewer, CFP®, CFPC®, AIF® - May 1, 2017 An investment policy statement may be better named an emotional policy statement. However, most finance types don’t want investing to be seen as touchy feely. Finance and economics have historically been considered logical disciplines. But times have changed and there’s a new branch of economics called behavioral finance. I find that at the beginning of [...]

Business Tax Proposals Set Stage for Upcoming Negotiations

The White House recently announced its tax reform plan — a broad outline of policies, with details expected to be worked out as discussions with Congress progress.1 The administration's tax reform proposals include a reduction in the top corporate tax rate from 35% to 15%. The announcement seemed to indicate that the 15% rate would also apply to business income that is reported on individual income tax returns; for example, [...]

Who Should Be Your Retirement Account Beneficiary?

Andrew Cashman, JD, LLM Taxation May 12, 2017 There are many benefits of utilizing tax-advantaged retirement accounts. Most notably, they allow your contributions to grow on a tax-deferred (traditional) or tax-exempt (Roth) basis and the accounts provide significant asset protection from creditors. What’s more, the tax benefits can be significantly increased by naming proper beneficiaries for the accounts. This article will help you make an informative beneficiary-designation decision. What Happens [...]

15 Great Summer Jobs for Teens

By Janet Fowler | Updated May 12, 2017 — 6:00 AM EDT That first summer job is often a rite of passage for many teens. It's the signal that you're on your way to adulthood, and it's also a way to money to pay for activities, save for a car or put away cash for college. Some jobs will draw on skills you already have. Others may help you test [...]

Avoid Costly Mistakes with these 4 Investing

Russell Wayne, CFP® May 15, 2017 1. Know Your Advisor One of the basic rules for investment advisors is to know your client. In theory, the reason for that rule is to ensure the advisor is providing appropriate advice to the client. But it's equally important for the client to know his advisor. There's a considerable difference in credentials among advisors. The gold standard for advisors is that of CERTIFIED [...]

3 Budgeting Habits Used by the Truly Wealthy

Max Osbon May 16, 2017 Budgeting is like dieting, when it’s too strict it quickly falls apart. Fortunately there are simple ways to get around the challenges linked to budget discipline. Lead by example and teach your family members to follow these habits and you’ll ensure their financial stability in any environment. Here are three tried and tested habits: Save First, Ask Questions Later This is often the most successful [...]

7 Times You Need to Talk to a Financial Advisor

It is a common thought for many people that a financial advisor isn’t for them, that they don’t make enough money in order to benefit from the advice of a financial advisor or that they can mange their money on their own. While you may be doing a great job at managing your wealth, there are 7 times in a person’s life when they should absolutely talk with a financial [...]