Managing Your Assets
When you start organizing your portfolio you will want to consider how you will be spending your money after you retire. Some money will be deposited directly into your checking account; such as Social Security where as other income could be less predictable. It is always nice to get extra income you are not counting on but you must not plan on this.
Life After Debt
If you find yourself in trouble financially, there are usually no easy answers -- but there are many ways out for those willing to commit to changing their financial habits.
Your ability to pay your bills can be affected by situations beyond your control such as serious illness, divorce or the sudden loss of a job. Poor financial management can also threaten your economic security. You may be able to juggle your creditors for a time, but eventually you may come to realize you need help in resolving your financial problems.
What Is A Variable Annuity
Variable annuities offer more choices than fixed or guaranteed annuities. Some of the things they offer that are not the same as a fixed annuity are, tax deferred earnings, a choice of payouts, plus the opportunity to make unlimited contributions if the annuity is nonqualified. The things that it offers different from the fixed annuity is that you have a potential for making more money and it also gives you more involvement on how to allocate your assets among your investments.
Gift Tax Fundamentals
The federal government imposes a substantial tax on gifts of money or property above certain levels. Without such a tax someone with a sizable estate could give away a large portion of their property before death and escape death taxes altogether. For this reason, the gift tax acts more or less as a backstop to the estate tax. And yet, few people actually pay a gift tax during their lifetime. A gift program can substantially reduce overall transfer taxes; however, it requires good planning and a commitment to proceed with the gifts.
Using Credit Cards Wisely
Credit cards were first introduced to the public just over 40 years ago, in 1959. With the introduction of credit cards, consumers were given new choices in how to pay for costly purchases that they had previously had to save for and pay in cash. Using credit cards allowed people to purchase goods without having sufficient funds immediately on hand, and without reaching new terms every time they wanted to purchase on credit.
The Time Value Of Money
One well-known fact of economic life is that a dollar received today is worth more than a dollar received a year from now.
Time and Money
The relationship between time and money provides the foundation for virtually every financial decision you will make. Whether you are saving money for a future event or considering a loan to pay for a current financial need, you will be greatly impacted by the time value of money.
What Is Permanent Life Insurance
Once you have determined that you need life insurance, and calculated how much coverage you require, you will have to choose between several types of life insurance. There are two very different types of life insurance contracts -- term and permanent.
Year End Financial Planning
The best financial decisions are made with the benefit of time, thoughtful consideration and trusted professional advice. As tax time once again approaches, there are many things you can do to give you the flexibility to make the best long term financial decisions and prepare to minimize expenses, taxes and the headache of organizing your finances at the last minute.
