In today’s fast-paced world, ensuring financial stability for future generations can be a daunting task. However, it is a common goal for retirees to create and maintain generational wealth in retirement. What better way to leave a legacy than to provide financial security? That’s why this article will provide valuable tips and insights to help [...]
In recent months there have been 3 major bank shake-ups: Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank.[1] This has generally led to fears that there is a larger recession on the horizon. The financial crisis of 2008 was also precipitated by bank collapses, so this has many experts watching the market carefully. [...]
In most cases, you can’t actually keep your money in your retirement accounts forever. Even if you don’t need the money from your retirement accounts, many of them will require you to begin withdrawing from them when you are 73 years old.[1] This is called a required minimum distribution (often shortened to RMD). More specifically, [...]
With the recent turmoil in the banking sector, it’s understandable to worry about your bank savings. But before worrying, it’s important to know how your money in the bank is protected. So, how safe is your money, really? Where is my money? First, let’s talk about how your bank actually stores your money. When you [...]
In theory, the definitions of an investment or an expense are quite clear-cut. An expense, or cost, is simply the dispensing of time, money, or resources. An investment, while an expenditure, comes with the expectation of a return.[1][2] While the two ultimately have the same goal –to acquire a good or service—their intentions and outcomes [...]
You’ve likely heard the news that Silicon Valley Bank (SVB) has experienced a financial shock. In a matter of a few short days, Silicon Valley Bank lost its funds and went under. So, let's get into the facts that can help put this event into context. The Series of Events Before interest rates started to [...]
The concept of retirement planning is simple. Despite changes in the economy or in life itself, the concept of planning your retirement has remained unchanged. We work, save, retire, and repeat for generations over. But while the concept may be the same, the puzzle has begun to evolve. In other words, individuals and families currently [...]
If you forgot what compounding interest was, let’s refresh. Compounding interest is the process by which the interest earned on an investment is reinvested so that the initial investment grows over time. It may not seem like it, but compounding returns is a powerful tool that can significantly increase the value of an investment over [...]
Building towards retirement, you have made many financial decisions. Perhaps you maxed out your credit card on clothes in your early 20s or chose the wrong payment plan for your car loan or home mortgage. Regardless, you’ve navigated many financial obstacles and gained wisdom that can now be passed on to your kids and [...]
The 2022 economy has broken multiple records, first, with the highest inflation rate in 40 years, and now, the highest federal reserve interest rates since 2008.[1] In efforts to curb raging inflation, the US Federal Reserve has raised interest rates six times in 2022, reaching a target of 3.75% in November.[2] This rise in the [...]
