Archive for the ‘Estate Planning’ Category
Getting the Most from Your Accountant
Posted February 24, 2010 by Bernz
If you’re like most people, the only interaction you have with your accountant occurs at the end of the year at tax time. Most of the time, this exchange involves discussions about missing receipts, tax write-offs, and filing deadlines. It is rarely fun and, more often, painful.
A good accountant, however, can be worth his or her weight in gold- literally. Here are some important tips on choosing the right accountant and getting the most out of the relationship:
1) Choose a qualified accountant. The word accountant is not standardized or protected. Anyone can call themselves an accountant and it can be difficult to assess an accountant’s credentials. A Certified Public Accountant in the US or a Chartered Accountant in Canada and the UK, however, must undergo certain levels of education and examination to be able to use those titles. Selecting a designated accountant will give you comfort about the level of expertise your advisor has. (more…)
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Tags: accountant, accounting principles, tax accountant
Posted in Estate Planning, Financial Education, Financial Goals, Tax Reduction | No Comments »
What is Term Life Insurance
Posted September 29, 2009 by Bernz
Shopping for a life insurance policy can be confusing and frustrating. There are many different types of policies with different rules and privileges. Premiums vary significantly across providers and product types.
One of the most popular types of life insurance is term life. Term life is straight life insurance without any of the bells and whistles. Whole life, on the other hand, usually carries an investment portion which grows in value and can be cashed out over time. Term life pays the face value of the policy at the time of death of the insured.
Term life insurance has both positives and negatives in comparison to whole life. On the positive side, the premiums are usually significantly lower than whole life premiums because there is no investment portion. Many individuals with term life insurance find that having a separate investment account allows them to have more control over both their insurance and investments. (more…)
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Posted in Estate Planning, Life Insurance | No Comments »
Financial Literacy- Does It Still Work?
Posted March 30, 2009 by Bernz
Financial literacy means being savvy with your cash flows and understanding your financial transactions in order to make better decisions that will protect and increase your wealth. Many feel that financial literacy is no longer useful or relevant in the face of our current economic meltdown. They feel that, no matter what consumers know or do, they will be hurt in this recession.
However, financial literacy is more important than ever. Understanding your financial position and how to navigate through tough economic times will give you a leg up in ensuring your financial security.
The people who will survive and thrive in today’s economy are those who have a handle on their personal finances. They know what they own and what they owe and they know where the cash is coming from and going. Every dollar that comes in has a name- meaning they know exactly where it is going.
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Tags: budgeting, financial education, financial situation, Frugality, personal emergency funds, personal finance, Saving Money
Posted in 401k, Debt, Estate Planning, Financial Education, Financial Goals, IRA, Index Funds, Investing Basics, Investing Strategies, Investing in Real Estate, Life Insurance, Loans, Mutual Funds, Retirement Planning, Roth IRA, Saving Money, Saving for College, Simple IRA, Stock Market Investing, Tax Reduction, Traditional IRA, Wealth Building | No Comments »
Retirement: Do You Plan on Working After Age 65?
Posted March 23, 2009 by Bernz
A generation ago, it was taken for granted that people would work hard at their jobs until their 65th birthday, then retire to a life of leisure. Most companies provided their long-term employees with retirement plans that made their post-work years comfortable. 
Today, however, workers are navigating a whole new employment landscape. Jobs are more transient than they once were. Workers are changing jobs and employers more often. Retirement packages are not a given any more and employees are lucky to find one that provides fully for the retired life. (more…)
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Tags: 401, 401k, early retirement, IRA, retire early, retirement, Retirement Planning, roth ira, working over 65
Posted in 401k, Career, Estate Planning, Financial Goals, IRA, Retirement Planning, Roth IRA, Saving Money, Simple IRA, Traditional IRA | 1 Comment »
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