When I begin working with a new client it is not uncommon to learn that they have an outdated estate plan. Some people think not much has changed since they last did their plan, while others have different reasons as to why they have not updated their plan. And some tell me they think that estate planning is only for the super-wealthy.
The more money you make, the more valuable you perceive your time to be — and the more time-strapped you may feel, according to University of British Columbia psychology professor Elizabeth Dunn. So wouldn’t it stand to reason that if you use some of your hard-earned money to buy yourself more time — for example, by paying someone to clean your house or mow your lawn — you might achieve a greater level of happiness? Indeed, that was the primary finding in a series of studies by Professor Dunn and other researchers published in the Proceedings of the National Academy of Sciences (PNAS).
At the end of March, the Federal Open Market Committee (FOMC) announced that it was increasing the fed funds rate by 0.25%. This rate, which is also known as the “overnight rate,” is the rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis so that those institutions can meet their reserve balance requirements. The general consensus is that this increase is the first of three this year although some analysts think there could be as many as four rate hikes in 2018.
Owning shares of stock or stock funds might increase the value of your portfolio in one of two fundamental ways: capital appreciation (i.e., price increases) and dividend payments. Of the two, capital appreciation carries the greatest potential for return, but it also carries the greatest potential for loss. And any gains or losses are only reaped when you sell your shares.
With the start of a new year, most of us begin making plans in all aspects of our lives for the year ahead – and beyond. One area we should all consider is financial well-being -not only our tax outlook, but also investment and retirement strategies, property and personal insurance coverage, and more. In this article, we provide a helpful list of actions you can take now that will cultivate a more fruitful 2018.
The opportunity to acquire company stock — inside or outside a workplace retirement plan — can be a lucrative employee benefit. But having too much of your retirement plan assets or net worth concentrated in your employer’s stock could become a problem if the company or sector hits hard times and the stock price plummets.
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