Financial Planning Archive

Death is a difficult time and most people tend to shy away from its potential financial consequences until it becomes too late. Typically people shy away from dealing with estate planning issues as long as …

Asset allocation means spreading your investment funds across many asset categories. As an investment strategy, this will help the investor balance the overall portfolio risk, volatility, and performance. Asset allocation is an important construct to …

There are many net worth statements available on the internet, however finding one that covers most or all of your needs is important. A net worth statement should include any assets that you own and …

Winning the lottery is great but after the shock is over there will be some hard realities to face. Many people will be bugging you for money so it is important to handle all aspects …

It is sad, but no one will ever get rich by working for a living. One would think that someone on a huge salary would be incredibly rich, however if one earns a lot then …

I’m fortunate enough to be answering this question in retrospect – or maybe ‘fortunate’ isn’t the best adjective because my current understanding of effective financial planning comes from my own significant downfalls in money-management. I …

“Budget” is one of those words like “diet” that immediately makes most people think of a straight and possibly boring path which should be taken for their own good.  While budgeting may not be immediately …

Do you want to survive the economic blitz? Well, you need to call an audible. Ready set, set, set, hike! Play-action fake you throw the ball(money) in the air looking for the big play and …

This is what Dwight D. Eisenhower said when he was a general: “It’s not the plan that counts, it’s the planning.” What he meant was that the act of planning and budgeting themselves are worthwhile …

Most people invest their money to achieve a comfortable and secure retirement, to help their children pay through college, or to make a large purchase such as a home. No matter the goals you have …

1. Budgeting A budget is extremely crucial when it comes to financial goals. Developing a budget helps with spending plans. Moreover, cutting back spending helps achieve financial objectives. The budget should be maintained and revised …

If you approach retirement with a new mindset, you will be able to retire early. In today’s world, early retirement is slowly becoming popular. There are many ways to develop a plan for early retirement; …

Financial planning does not come as second nature to the average American. In fact we as a people are now labeled more often then not as consumers instead of citizens, and the world of retail …

Statistics show that more than half of the world’s population doesn’t know how to manage their money and finances well. Most people know how to work and look for income and money but most of …

Mastering money management skills early on in life can help you achieve financial independence later on in life.  Create a feasible financial plan in line with the realistic goals you’ve set for achieving in life.  …

Trust funds are a vehicle that people use either to ensure the welfare of future generations or for tax planning objectives. A trust is a legal arrangement in which the person setting up a trust, …

Budgeting your money and bills can be one of the most difficult things to do in life. It requires discipline and hard work, which is difficult to maintain. There are many things that can be …

Teenagers have an advantage over their parents. They can look ahead to a life of wealth and success if they have the fortitude to plan a solid financial strategy while still in college or university. …

Financial planning is about creating the life you want. It is about taking control of your monetary destiny. Dreams are wonderful, but to make dreams become reality, one must take action. Action is the only …

Imagine the structure of your house: there’s a foundation, a frame, a roof and the siding. What would happen to your home if one of those major pieces was missing? Now imagine your financial situation …

Being organized can save you money in more than one way. How many times did you go back to the grocery store after returning home just because you had forgotten to buy some important stuff? …

Florida is a good State to have one’s estate owned in because of its favorable tax benefits to individuals with high worth and income. For starters, Florida has no State income tax meaning that any …

Wouldn’t it be great if we could all do or buy whatever we wanted without worrying about the cost? That may work for the super rich, but if you are like most families trying to …

The Pareto Principle is an often misunderstood statistical observation which can have all sorts of applications, including in personal financial planning. Below are some suggestions on how to apply the principle – also known as …

Dealing with financial issues is always stressful. Especially, if you are a new college graduate, you need to take really careful steps to build a solid financial future. Probably, upon graduation, you are already carrying …

DOES it seem that you never have quite enough spending money? If only your allowance were a little larger, you could buy that game you want. If only your wages were higher, you could buy …

Every individual seems to be worried about his or her increasing expenses that may be more than the total earnings. Same is the case with most business houses, who are always worried about their accurate …

Money trouble is the black cat of a relationship; when the charcoal-colored feline crosses your path, you’re already in pretty deep. You need a plan to organize your finances. Full-fledged trust issues arise from poorly thought-out …

With the potential for deployment, the lingering effects of the recent recession, and predatory lending practices targeted at military personnel, the number and types of financial stressors and challenges facing military families are significant.  These …

To buy or not to buy, that is the question. The decision whether to buy or lease a car is one with financial and other ramifications. Cars often account for, next to your home, your largest …