Given the multi-trillion dollar wealth transfer from Boomers to Millennials on the horizon, it’s time to start making some changes to appeal to the way the younger generation prefers to do business.
As Congress and the new administration look to overhaul the Affordable Care Act, healthcare has been a hot topic in the news. And rightly so, as the outcome is likely to have an impact on most of us.
You’ve probably already heard the statistics. The average all-in cost of college (tuition, room and board, fees, books and personal expenses) at an in-state public university is $24,610 per year. If you are thinking private college, brace yourself, you are looking at $49,320 per year. (Source: College Data.)
Before you create a financial plan, you need to define your goals and understand what you are trying to achieve. No matter the size or scope of your goals, your quest to accomplish them should be supported by a plan. Here are eight tips to help you get started.
April has been declared Financial Literacy Month across the nation, so we thought it was a great time to share some educational content created by our Financial Planning team. Led by a group of Certified Financial Planners, eMoney’s Financial Planning team helps our clients understand, and effectively use, our planning technology to meet their diverse needs.
For most of us, tax time means one thing – filing our returns accurately by that dreaded April deadline. However, tax season should also be viewed as an opportunity to review and update your financial plan. In fact, if we pay attention to our taxes year-round, perhaps we’ll find ourselves actually looking forward to tax season and the returns it may bring.
“This is one of the most monumental pieces of legislation in our lifetime…bigger than the healthcare reform act,” says Henry Smith, Partner of Smith & Downey about the Department of Labor’s (DOL) new fiduciary rule. And regardless of the fate of the DOL Rule, the industry has initiated a massive shift to a planning-led, fiduciary model that’s sure to affect the way you conduct your business.
Although there are still some hoping the litigation against the DOL will result in a suspension of the rule or an outright repeal by a newly elected administration, it has been my experience that most have accepted the new regulation since it conditionally protects the sale of commissionable products. However, favorable opinion has not resulted in much action on the part of financial institutions to implement strategies to deal with the new reg.