Financial Planning: The planning process is how you build a personal financial plan outlining how your money, investments and other assets can help you meet your future goals. The plan is a comprehensive evaluation of an individual’s current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. A financial plan is a roadmap that helps you achieve your goals. Financial planning can be done on your own or with a professional (an Adviser). A good plan should include details about your cash flow, savings, debt, investments, insurance and any other elements of your financial life. It is an ongoing process. Watch these free finStream TV streaming videos to learn more about putting together a solid financial plan. If you’d like to get connected to a financial professional to help you put together your plan, please check out Wealthramp at the link below: https://www.finstream.tv/wealthramp-find-your-financial-advisor/ FinStream – Financial Intelligence.
Brazil recently signed a decree to create the Retirement Security Bond that Arun Muralidhar, the co-founder of AlphaEngine Global Investment Solutions, first laid out in 2015 on a napkin. In the years since, Muralidhar has collaborated with Nobel Laureate Robert Merton, on making the bond a reality. In this interview, Muralidhar explains how the Retirement Security Bond works and how Brazil created its version of the bond to improve retirement security.
Jeremy Keil from Keil Financial Partners discusses I Bond rates.
Professor Milligan discusses bonds, including treasury bonds, corporate bonds, municipal bonds, yields, safety and tax ramifications.
With Bonds you want to be diversified too. Massi De Santis, Ph.D., CFP with Desmo Wealth Advisors reviews how costs and diversification matter for Bond Funds.
The Hammer discusses EE Bonds and potential tax breaks.
Managing Personal Debt. Results of a study on debt by Northwestern Mutual. What strategies are you using to break free of personal debt?
Lee Baker, host of Level Up with Lee, talks with Luis Rosa, the founder of Build A Better Financial Future and host of On My Way to Wealth podcasts about applying for credit cards, using credit and debt appropriately, and building a good credit score.
Taking the next step with your partner is an exciting time, but don’t do so without talking about money first! Haley Tolitsky, CFP offers some advice on conversations about money with your significant other.
Beau Kemp CFP, RMA of Sensible Money explains inflation, core inflation and excess inflation.
Jeffrey Levine, CPA/PFS at Buckingham Wealth Partners - aka The Hammer - discusses strategies to eliminate credit card debt including the snowball method of paying off debt.
What is a Pour-over Will? Do you know what a "pour-over will" is? This type of will can ensure your assets go where you want them to. But there are many misconceptions about them. Here are the facts, according to Allison L. Lee is the Attorney-at-Law, Director Trusts & Estate Content for FreeWill. Learn more at www.finstream.tv.
Pour-Over Wills: If you’ve discussed estate planning with a qualified professional or even casually perused the internet trying to formulate a game plan for putting your affairs in order, you’ve probably come across the concept of "pour-over wills" alongside revocable living trusts. Allison Lee, an attorney with Freewill, disucsses Pour Over Wills.
Post-death distributions of IRAs to Heirs: Bill Harris, CFP, RMA discusses how post-death distributions of IRAs to heirs doesn't work the way you thought. The 10 year rule and IRS Publication 590B are reviewed.
Mark Colgan, the founding partner of Montage Wealth and author of The Survivor Assistance Handbook and Death's Red Tape, discusses what happens should you die without a will.
Changes to Estate Tax Exemption Portability: Portability can play a role in estate planning. Philip Herzberg discusses portability in estate planning.
Medigap and Medicare Advantage are two different types of health insurance plans that can be used to supplement Original Medicare. Medigap plans are private plans that can help to pay for things like copayments, deductibles, and coinsurance. Medicare Advantage plans are managed care plans that provide all of your Medicare benefits in one plan.
HHS Updates 2024 Medicare Advantage Program and Part D Payment Policies: Jae Oh, author of Maximize Your Medicare, explores the trend of rising payments to Medicare Advantage plans, which are private health insurance plans that provide Medicare benefits to seniors. Oh discusses the factors driving the growth in Medicare Advantage enrollment, including the plans' lower out-of-pocket costs, extra benefits, and provider networks. It also examines the recent increase in payments to Medicare Advantage plans and the potential impact on seniors, taxpayers, and the overall healthcare system. Oh concludes by noting that while Medicare Advantage plans may offer advantages for some beneficiaries, it's important to carefully consider the costs and benefits before enrolling in one.
What Are Medical Directives and Living Wills? A living will and a medical directive are both legal documents that allow individuals to make decisions about their medical care in case they become unable to communicate their wishes, according to Harry Margolis, author of Get Your Ducks in a Row.
What's a HIPAA release and why do you need one? Harry Margolis, author of Get Your Ducks In A Row reviews HIPAA - Health Insurance Portability and Accountability Act.
What Are DNRs & MOLSTs? DNR and MOLST are both medical forms that address end-of-life care, according to Harry Margolis, author of Get Your Ducks in a Row.
Personal Budgeting: Consider following these 6 steps to build your personal budget.
A new study from Bank of America/Merrill Lynch finds that the gender savings gap persists, despite recent gains. The study, which was released in July 2023, found that the average 401(k) balance for women is $59,000, compared to $89,000 for men. This represents a gender savings gap of 30%. The study found that the gender savings gap is due to a number of factors, including: Income disparity: Women earn less than men on average. Caregiving responsibilities: Women are more likely to take on caregiving responsibilities for children and elders, which can limit their ability to save for retirement. Lack of financial knowledge: Women are less likely than men to have financial knowledge, which can make it harder for them to make sound financial decisions. The study's findings are concerning, as women are more likely than men to live longer in retirement. This means that women will need to save more for retirement in order to have a comfortable lifestyle. The study's authors called on employers, financial institutions, and policymakers to take steps to close the gender savings gap. These steps could include: Providing financial education and counseling to women: This could help women to understand their financial options and make sound financial decisions. Encouraging employers to offer paid family leave and flexible work arrangements: This could help women to balance their work and caregiving responsibilities. Changing the retirement savings landscape: This could include making it easier for women to contribute to retirement savings plans and increasing the amount of retirement savings that women can deduct from their taxes. The study's authors concluded that closing the gender savings gap is essential to ensuring that all Americans have a secure retirement.
Jeremy Keil from Keil Financial Partners discusses I Bond rates.
Amy Shepard, CFP, RMA with Sensible Money reviews the steps you need to make to be a stay-at-home parent.
Haley Tolitsky, CFP with Cooke Capital, joins Hannah Sammut to discuss four effective ways to boost your income.
Aaron Filbeck CAIA, CFA, CIPM, FDP, Director of Global Content Development at CAIA Association and Tony Davidow, author of Goals Based Investing explore the limitations with Modern Portfolio Theory, the role & use of alternative investments, advisor education, and goals-based investing among issues.
George Padula, CIO @ Modera Wealth Management, discusses the rebalancing process and the benefits of portfolio rebalancing.
With Bonds you want to be diversified too. Massi De Santis, Ph.D., CFP with Desmo Wealth Advisors reviews how costs and diversification matter for Bond Funds.
Sébastien Page, CFA, Head of Global Multi-Asset at T. Rowe Price talks about his book “Beyond Diversification: What Every Investor Needs to Know About Asset Allocation”
Professor Zvi Bodie from Boston University discusses how your asset allocation should be related to your age with Bob Powell, CFP, Co-founder of finStream.TV.