Embarking on your financial planning journey might feel like a giant leap, but remember: every expert was once a beginner. Let’s take this step together, ensuring your financial stability and prosperity with some essential tips: 1. The Safety Net of
A fiduciary is a person or organization that acts on behalf of another person or persons. They at all times must put their clients’ interest ahead of their own. Being a fiduciary thus requires being bound both legally and ethically
Asset An asset represents a positive economic value owned in whole or in part by a company or individual. It represents ownership over the positive benefits and values that the entity inherently has, could have or creates continuously. Generally speaking
You can always upgrade…I know it’s not what you wanted to hear but it’s the right answer. Generally, spend what you can afford should be the mantra for Wedding Costs. De Beers a long time ago said two times your
Future value (FV) is the value of a current asset at a future date. It is useful for extrapolating the expected return on an asset. The math uses an assumed rate of growth. For investors and financial planners the use
The present value (PV) is the current value of all future sums of money or stream of cash flows given a specified rate of return. Future cash flows are discounted based on the time value of money referred to here
The short answer is usually to always pay off high interest erosive debt like a credit card first (The First 8 “Good” Money Habits). You cannot consistently return more than credit card interests rates, therefore, you should pay it off
A IRA without investment limitations Annual Contribution Max: $6,000 or $7,000 if over 50 years old. Why we like Self Directed IRA’s: Available to anyone Makes several non marketed assets available to invest (Including, Franchises, Commercial and Residential Properties, Precious
Getting corporate retirement plan benefits for when you are going it alone Annual Contribution Max: $57,000 or 25% employees pretax income Why we like Solo 401(k)’s: Easy to administer, low-cost retirement plan designed for self-employed individuals and owner-only (spouse can
Simple without being simplistic Annual Contribution Max: $13,500 Why we like SIMPLE IRA’s: They are easy to set up and require little to no fiduciary oversight Employee’s can direct the assets with total control Low contribution limits {Total elective contribution
Purpose built for Small Business Owners and Self-Employed Annual Contribution Max: $57,000 or 25% employees pretax income Why we like SEP IRA’s: High contribution limits For employees, immediate vesting can be an advantage Total investment control Easy set up and
A “Catch All” Retirement Plan Annual Contribution Max: $6,000 or $7,000 if over 50 years old. Why we like Traditional IRA’s: Available to anyone Wide variety of investment choices Total control over the amount of control you want Ability to
