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Financial News & Insights

October 16, 2019

Investors have a choice today that they did not have a decade ago

They can seek investing and retirement planning guidance from a human financial advisor or put their invested assets in the hands of a robo-advisor – a software program that maintains their portfolio.

Why would an investor want to leave all that decision making up to a computer?

In this...

October 1, 2019

If you have good credit, you may be considering refinancing yourself, for one or more reasons. Perhaps you want to shorten the term of your home loan. Maybe you have an adjustable-rate mortgage now and want to refi into a fixed rate. Or, maybe you want to tap into home equity or consolidate debt. Whatever your reason(s), you must weigh two questions...

September 17, 2019

If you receive a distribution from your IRA or workplace retirement plan, what will you do with it? You will probably want to arrange an IRA rollover – a common and useful financial move designed to take these invested assets from one retirement account to another, without tax consequences. The I.R.S. may give you just 60 days to do it, however.

The...

August 15, 2019

What can you do to lessen its impact for your heirs?

It can take more than a year in some cases, and attorney’s fees, appraiser’s fees, and court costs may eat up as much as 5% of a decedent’s accumulated assets. (1)

What do those fees pay for? In many cases, routine clerical work. Few estates require more than that. Heirs of small, five-figure estate...

July 12, 2019

The transition to adulthood is an exciting new stage that marks true independence. You may have graduated from college, taken your first job, and even, rented your first apartment. With this new freedom comes real responsibilities, including protecting yourself from the financial risks that life presents.

Auto

Once you are no longer covered on your pa...

June 25, 2019

Are you in your fifties and unsure if you have enough retirement savings? Then you have two basic financial choices. You could start saving and investing more of your pay than you currently do, or you could work longer so you have fewer years of retirement to fund. 

Research suggests that working longer might be a good way to address this shortfall. ...

June 3, 2019

Term insurance is the simplest form of life insurance. It provides temporary life insurance protection on a limited budget. Here’s how it works:

When policyholders buys term insurance, they buy coverage for a specific period and pay a specific price for that coverage.

If the policyholder dies during that time, their beneficiaries receive the benefit...

April 19, 2019

If you arrange a mortgage, your lender will want you to have homeowners insurance. This coverage is critical for protecting your home and personal property against various potential liabilities.

A homeowners insurance policy is actually a package of coverages. These policies commonly offer the following forms of protection:

  • Dwelling coverage insu...

March 25, 2019

The financial uncertainties we face in retirement may risk reducing our sense of confidence, potentially undermining our outlook during those years.

Indeed, according to the 2018 Retirement Confidence Survey by the Employee Benefits Research Institute, only 17% of pre-retirees said they are “very confident” about having enough assets to live comforta...

December 31, 2018

Thinking about borrowing money from your 401(k), 403(b), or 457 account? Think twice about that because these loans are not only risky, but injurious, to your retirement planning.

A loan of this kind damages your retirement savings prospects. A 401(k), 403(b), or 457 should never be viewed like a savings or checking account. When you withdraw from a...

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Your Financial Roadmap, Inc. does not provide investment, tax, or legal advice and such advice should only be obtained from a qualified professional. All written content on this site is for informational and educational purposes only and is not a substitute for professional financial, investment and/or legal advice. Individuals should seek advice from professional advisors prior to implementing any strategy. Your Financial Roadmap, Inc. is not a financial planner, financial counselor, financial adviser, investment counselor, investment adviser, financial consultant, estate planner, attorney, law firm, insurance agent, insurance agency, accountant or accounting firm. Your Financial Roadmap, Inc. is not a fiduciary and no fiduciary relationship exists between any user and Your Financial Roadmap, Inc. 

 

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