Experts refer to certain stock market declines as “corrections”. But what exactly are corrections and what is the difference between a correction, pullback and bear market? Glad you asked. When the S&P 500 index declines 10% to 20%, it’s known as a market correction. If the market drops less than 10% it’s called a pullback. […]
How Excess Emergency Funds Sink Your Retirement
You may find this hard to believe but the amount you keep in your emergency fund may do you a lot more harm than good. At the very least, how you approach emergency funds speaks volumes about your financial process and is a good predictor of what may lie ahead on your financial path. The […]
What Does Transfer On Death (TOD) Mean?
Transfer on Death (TOD) is a way that you can take title to an asset. Its how some people register a bank account, investment account or a physical asset. And it tells the world what you want to happen to that property once you move on to that Big Bank up in the sky. When […]
Do You Need A Joint Tenant Beneficiary?
If you hold assets in joint tenancy you might think you are in pretty good shape from an estate planning standpoint. After all, if one party dies, the asset goes to the surviving joint tenant(s). While this is true, there could still be some very big holes in your strategy. What happens if all the […]
How To Share Your Financial Data With Family
It’s understandable if you hesitate to share personal financial data with your family. Money is a very private affair. It can also alter the family dynamics and impact other family members negatively. It brings up a lot and there are tremendous stakes in the balance. I get it. But with all that said, I still […]
How Tax Loss Harvesting Can Save You A Fortune
Most people I know really don’t like to lose money with their investing. That just makes sense. But what if I told you there was a way to cash in on those losses? Would that change your mind about that red ink? What if I went one step further and said that it might be […]