According to recent statistics, data breaches have become common in today’s digital world. In fact, it is estimated that more than 350 million Americans have their personal information exposed to data breaches every year. Whether it’s a major retailer, a subscription service, or another online platform, the risk of a data breach is a reality that we all face. 1 Names, email addresses, passwords, and other sensitive information are being swept up by hackers for fraudulent acti

Among the many considerations to ponder when forming your estate strategy, intellectual property (IP) is among the more important and misunderstood. The phrase itself may be somewhat confusing, as people may not know whether it applies to them or their assets. To clear things up, let's start by defining what exactly is meant by intellectual property . IP embraces four distinct areas of consideration: patents, trademarks, copyrights, and trade secrets. Let's look at each of th

Suppose your financial objectives include income and leaving a legacy for your heirs. In that case, it's essential to work with a financial professional familiar with your many options, including older tools. Grantor retained annuity trusts (GRATs) gained popularity in 2000 after a favorable ruling by the U.S. Tax Court toward a wealthy family in the retail business. This ruling allowed for zeroed-out GRATs, for which annuity payments return the original assets to the grantor

Divorce can be an emotionally and financially challenging life event. In the face of the many possible adjustments divorce entails, making changes to insurance coverage may be overlooked. Here's a look at each type of coverage: Auto If there is a change in auto ownership, you may need to obtain car insurance coverage to coincide with that change. You also may want to think about removing your former spouse from a policy to protect yourself against potential liability and ensu

Life is an ever-evolving journey marked by significant milestones, personal growth, and unexpected changes. As life unfolds, your financial and insurance needs also shift, changing from year to year, decade to decade. A good example of this is life insurance. If you have a life insurance policy that you haven't reviewed recently, it may no longer align with your current needs. That is why reviewing your life insurance periodically may be a good approach. Several factors affec

Generally, the different parts of Medicare help cover specific services. Most beneficiaries choose to receive their Parts A and B benefits through Original Medicare, the traditional fee-for-service program offered directly through the federal government. It is sometimes called Traditional Medicare or Fee-for-Service (FFS) Medicare. Under Original Medicare, the government pays directly for the health care services you receive. You can see any doctor and hospital that takes Med

When you are under 65, you become eligible for Medicare if: You have received Social Security Disability Insurance (SSDI) checks for at least 24 months Or, you have been diagnosed with End-Stage Renal Disease (ESRD) Eligibility for Medicare due to a disability You may qualify for Medicare due to a disability if you have been receiving SSDI checks for more than 24 months, also known as the two-year waiting period. The two-year waiting period begins the first month you receive

Preparing for retirement is not entirely financial. Your degree of happiness in your “second act” may depend on some factors that don’t come with an obvious price tag. Here are some non-monetary factors to consider as you prepare for your retirement. What will you do with your time? Too many people retire without any idea of what their retirement will look like. They leave work, and they cannot figure out what to do with themselves, so they grow restless. It’s important to

Expectations vs. Reality Predicting exactly what your retirement will be like is about as possible as a meteorologist predicting the...

Investment firms have a client service feature that may be a benefit to certain investors. They will ask you whether you would like to...

The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Keep in mind that this...

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The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty...

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Every year, about 140 million households file their federal tax returns.   For many, the process involves digging through shoe boxes or...

While many people are familiar with the benefits of traditional 401(k) plans, others are not as acquainted with Roth 401(k)s. Since...

The famous saying from Poor Richard’s Almanack is frequently misquoted. It was published by founder Benjamin Franklin in 1737: “A penny...

Will you pay higher taxes in retirement? It’s possible. But that will largely depend on how you generate income. Will it be from...

When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are...

Want to give your child or grandchild a financial head start? A Roth IRA might be a choice to consider. Read on to learn more about how...

One reality of life is that risk is ever present. It exists in our commute to work, in our investment choices, and in our lifestyle...

Next to “When should I claim Social Security benefits?”, one of the more common questions people have is “How much will I receive?”...

Life insurance is designed to help protect a household from the financial hardships that may follow the untimely death of a primary wage...

Traditional Individual Retirement Accounts (IRAs), which were created in 1974, are owned by roughly 41 million U.S. households. And Roth...

Do you need a life insurance policy in retirement? One school of thought questions this decision. Perhaps your kids have grown, and the...

As Teddy Roosevelt once observed, "Old age is like everything else. To make a success of it, you've got to start young." The challenges...

A growing family, by definition, means growing financial obligations—both present and in the future. Raising children can increase your...

An orchestra is merely a collection of instruments, each creating a unique sound. It is only when a conductor leads them that they...

Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don't know that there...

With the children now out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very...

When it comes to retirement, women may face unique obstacles that can make saving for retirement more challenging. Given that women...

It doesn’t take a degree in finance to see that the cost of college continues to rise. In its 2023 report, the College Board showed that...

When you marry or simply share a household with someone, your life changes—and your approach to managing your money may change as well....

In exchange for fixed premiums, an insurance company promises to pay a set benefit when the policyholder dies, but also offers additional...

Did you know that... Fifty-seven percent of American workers have no private short-term disability insurance. 1,2 Sixty-five percent of...

Medicare Advantage, sometimes known as “Part C,” is something of a catch-all choice for those who are ready to sign up for Medicare....

Despite the overwhelming research documenting the health and behavioral consequences of underage drinking, some parents believe that...

In 2023, the U.S. had 22.7 million millionaires. An increase in personal wealth may bring greater financial flexibility; it may also...

Are you making charitable donations at year's end? If so, you should know about some of the financial "fine print" involved, as the right...

Extended-care coverage can be complex. Here's a list of questions to ask that may help you better understand the costs and benefits of...

In a 2023 survey, 37% of all workers reported they were either “not too” or “not at all” confident that they would have enough money to...

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big...

Whether you have life insurance through your work or are retired it pays to know the truth about life insurance coverage. This material...

For many older adults, finding time to experience nature can be one of the greatest pleasures in retirement. And what better place to...

According to the Social Security Administration, a 20-year-old has more than a 25% chance of becoming disabled before reaching retirement...

While the vast majority of insurance companies use credit-based insurance scores to help determine the price of insurance, it is banned...

About 14 percent of all motorists, or one-in-seven drivers, do not have automobile insurance, according to the Insurance Research...

New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their...

You may be considering purchasing a vacation property, this can be an exciting milestone, but there are a few things to consider first....

One study estimates the average cost of raising a child to the age of 17 for a middle-income family is about $310,605. As a point of...