.7 Mistakes To Avoid If You’re Trying To Build Long-Term Wealth

Casey Bond Tue, January 25, 2022,

If you want to stop living paycheck-to-paycheck, retire comfortably or have a legacy to pass on to your children, there’s no get-rich-quick scheme that can guarantee you reach your goal. Instead, building long-term wealth takes a lot of patience and planning, and it’s important to know these common mistakes to avoid.

1. Not Having an Emergency Fund

When focusing on building long-term wealth, it’s easy to neglect cash reserves, said Nick Vail, a CFP with Integrity Wealth Advisors. However, failing to build an emergency fund can hurt you in the long run.

.What Is Asset Protection Planning?

Rosemary Carlson Thu, January 13, 2022,

Asset protection planning is the process of building barriers around your assets, whether those assets are personal or business, to keep them safe from litigation, creditor claims, seizure and burdensome taxes. It’s a vital and completely legal component of both financial planning and estate planning. There are a number of key tools you can utilize to accomplish the goal of protecting your assets. A financial advisor can help you structure and organize your assets so that they are more likely to achieve your financial goals.

.Why You Should Put Your House in a Living Trust

Virginia Duan Mon, January 10, 2022

Part of being a responsible homeowner is having a proper estate plan in place. After all, considering the home is generally the largest asset most people own, it's prudent to ensure this asset is passed to the people you wish to leave it to. Just as you protect your finances from debt or use home security to protect your belongings, estate planning with a living trust can be a way to provide your loved ones with a legacy and inheritance.

For instance, do you know what will happen to your house if you and/or a co-owner were to die? Did you know that even if your will gives the kids your house, it can be held up for a long time thanks to probate law? Also, if you're in an LGBTQ+ family or have special needs, there are often unique circumstances to consider and account for while estate planning.

.Bonds – The Ultimate Guide: What Is A Bond, How Bonds Work, And Why They’re In The News So Much!

November 15, 2021

Have you noticed that bonds are all the rage all of a sudden? Sure, when it comes to stocks, all the hoopla makes sense. They’re all over the place from one minute to the next! But bonds are the slow-moving cousin of stocks. So why all this interest?

Well, bonds are pretty fascinating once you start to understand them and today you’ll learn just how deep the bonds rabbit hole goes.

We’ll learn what bonds are, how to invest in bonds, types of bonds including savings bonds, why and when you might want to invest in bonds, and how well do bonds perform.

.If You Have This Much Money, You Should Have a Financial Advisor

Patrick Villanova Wed, January 5, 2022,

A couple meets with their financial advisor. A recent survey found that those with more than $1.2 million in household assets report significantly higher levels of happiness when working with a financial advisor compared to those without an advisor.

Money can’t buy happiness directly, but it seems like paying a financial advisor sure can help.

A new survey found people with more than $1.2 million in household assets report higher levels of happiness when working with a financial advisor compared to those who don’t have an advisor. The finding is part of Herbers & Company’s inaugural Consumer Financial Behaviors Study, which polled 1,000 consumers across the U.S.

.11 Steps to Writing a Will

Emma Kerr Tue, January 4, 2022, 10:54 AM

Most people should have a will, but it's rarely the most significant estate planning document an individual holds.

Many of a typical household's assets, such as retirement accounts, can be transferred outside of a will by naming beneficiaries, and documents such as the financial and medical powers of attorney can be more powerful in determining the outcome of an estate.

Still, having a poorly written or out-of-date will can be costly and derail an otherwise well-planned estate. Wills are also particularly important for individuals with dependent children; the will serves as the best means to name guardians for children in the event of the death of both parents.

.‘This is a red flag.’ 6 Signs You May Want To Ditch Your Financial Adviser

Alisa Wolfson Wed, January 5, 202

How to know when it’s time to leave your financial adviser.

Like with many relationships, your relationship with your financial adviser might not be working. But how do you know it’s time to head for the hills? We asked certified financial planners and finance experts the things to consider before firing your current financial adviser and hiring a new one.

.Be Curious

Jan 3, 2022 by Ted Lamade Managing Director at The Carnegie Institution for Science

There is a great scene in the first season of Ted Lasso in which the show’s antagonist, Rupert Mannion, challenges Lasso to a game of darts. After seeing him make a few poor throws, Mannion is confident that it is easy money. The two play and Mannion appears to be on the verge of winning with Lasso needing two “triple 20s” and a bullseye on his final three shots. Then, just before he throws his darts, Lasso turns to Mannion and says in his Southern drawl,

“You know Rupert, guys have underestimated me my entire life. It used to really bother me, but then one day I was driving my little boy to school and saw a quote by Walt Whitman painted on a wall that said, ‘Be curious, not judgmental’. I liked that. See all those fellas who belittled me, none of them were curious.

.Saving for Retirement: Definitive Guide

By Donny Gamble

One of the questions that we get asked most frequently is when is the best time to start saving for retirement. We always give the same answer - it's never too early to start saving for retirement, but it is also never too late to start doing so. When is the right time to start saving for your retirement? Right now!

Saving for the future is one of the most difficult things to do. Our brains are wired to worry about what is in front of us rather than planning for the future. This is a skill we developed during our cavemen days and haven't managed to shake off yet.