March 28, 2016
Have you ever thought about what would happen to your family if something happened to you? All of us have at one point or another, even if it was in the form a frantic mental love note sent to family members during bad airplane turbulence. But concern for protecting your family financially doesn’t have to turn to worry if you follow these steps.
March 15, 2016
The kiddie tax is a tax rule that is levied on unearned income (interest, dividends and capital gains) earned by children under the age of 19 and full-time college students under the age of 24. For 2016, all of the child’s unearned income in excess of $2,100 is taxed at the parent’s tax rate.
In 2016, the only way that college students under age 24 will be able to avoid the kiddie tax is if they provide over half of their own support from …
January 26, 2016
If you think your retirement is going to look like your parents’ or grandparents’ retirement, think again. Here are three things you should be considering:
1. The Bank of Mom and Dad won’t always be open. There are two sides to this. If you’re currently supporting your adult children, you’re not alone. According to a BMO Wealth Institute study, 81% of parents say they have provided their adult children with some financial support. However, you’ll want to evaluate if that’s possible to sustain in the long-term. Ask yourself: Will helping my adult child (buy a house, afford a vacation, transition to a new job …) put my own financial future in jeopardy?
October 28, 2015
One of the questions I’ve received over the years is “Will my sport cause me problems in purchasing new life insurance?” The answer in most cases is no, but there are some hobbies that may be a problem for the underwriters in the insurance company.
Here is a list of seven high-risk sports that are problematic when it comes to getting life insurance.
June 4, 2015
First, the basics. If you still owe someone, or love someone, yes, you need life insurance.
Now, let’s dig a little deeper and look at the other reasons you may still need life insurance after 65.
1. You’re still the “Bank of You.” 63% of parents over 55 are still supporting their children and or grandchildren, according to LIMRA Secure Retirement Institute. What happens if you are no longer around to provide that support? Who will your children turn to for financial help? Friends or other family members? Life insurance can provide the funds to maintain this support.