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Public servants may face unusual challenges and opportunities when it comes to planning for retirement. On the one hand, public service positions usually pay less than the same types of work in the private sector, giving you less money to work with. On the other hand, these positions can come with generous pensions and other helpful benefits that may help shape your retirement. Here are some essential steps to help you draw up a road map for a planned retirement.

April is Stress Awareness Month, and there's no better time to reflect on and address the stressors that may impact our lives. Financial stress is an interesting challenge for high-net-worth individuals and families since most financial advice tends to be targeted toward those earning less. Instead, you need a tailored approach that acknowledges your specific challenges. Here are a few tips and strategies that may help high-net-worth families navigate and thrive through financial stress.

Going through a divorce can be an emotionally charged and stressful event. Aside from the emotional toll, there's often the challenging task of disentangling finances and assets, a process that frequently leaves many divorcees in a precarious financial situation. However, it is essential to remember that this is not the end of the road—with a comprehensive strategy, you can rebuild your finances post-divorce. Here is a guide for divorcees seeking a fresh start for their finances.

Wealth and estate planning are vital for all individuals but are particularly essential for high-net-worth (HNW) individuals in the sandwich generation. "Sandwich generation" refers to individuals caring for their aging parents and children simultaneously. Not only do these individuals have to consider their wealth management, but they also must plan how their assets will be distributed among their family members if they die while caring for others.

You may sometimes hear the terms "estate planning" and "asset protection" used interchangeably. They actually have different meanings, and it's important to incorporate both strategies into future financial plans. Below, we discuss key differences between estate planning and asset protection, as well as the optimal occasions when you should consider each wealth-preservation strategy.

When a spouse dies, the emotional magnitude of the loss can send your life reeling. It can also affect your finances. You are pressured to do many things all at once. It is best to leave off bigger long-term decisions until later, when you are less distressed by your bereavement.

Historically, working mothers have had even higher ambitions in the workforce than working women in general.1 This ambition may drive them to excel in budgeting and financial matters that can help them manage their family's finances. What should working moms know about financial planning, and what steps can they take to help their family work towards a confident financial future? Here are five financial planning tips for working moms.

Life insurance has come a long way since the days when it was known as burial insurance and used mainly to pay for funeral expenses. Today, life insurance is a crucial part of many estate plans. You can use it to leave much-needed income to your survivors, provide for your children's education, pay off your mortgage, and simplify the transfer of assets.

A new trend, known as “gray divorce,” is a phenomenon that is redefining marriage and retirement in America. It refers to couples aged 50 and older who are getting divorced. A recent study by Bowling Green State University indicates that younger generations are less likely to get divorced than their older counterparts. Divorce rates over the past thirty-plus years have doubled for couples over 55 and tripled for those over 65.

Most types of financial accounts allow you to designate a beneficiary, from checking and savings accounts to life insurance policies, 401(k)s, IRAs, pensions, and trusts. But when was the last time you looked at your beneficiary designations across all your accounts? Do you know which of your accounts have beneficiary designations and which ones do not?

The journey to prosperity involves more than just a high income. It requires strategic planning, wise investment decisions, and a keen understanding of your financial landscape. On Financial Professional Day, explore how working with a financial professional could be a game-changer on your path toward a higher net worth.

The loss of a spouse can be a devastating, life-changing event. Due to longer life expectancies, women are more likely to face this situation. Becoming a widow at any age can be one of the most difficult challenges a woman must face. Not only is there the emotional loss of a spouse, but also the task of handling everything — including all the finances — without the help of a spouse.

The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2023. If you had earned income last year, you may be able to contribute up to $6,500 for 2023 ($7,500 for those age 50 or older by December 31, 2023) up until your tax return due date, excluding extensions. For most people, that date is Monday, April 15, 2024.

In the U.S., women control a third of household assets. But by 2030, U.S. women are expected to control much of the assets that the baby boomer generation will pass to heirs, roughly 30 trillion in assets. High-earning women have become the newest face of wealth and will increase their net worth even more.

If you hear the term HENRYs mentioned during a financial conversation, you may or may not be familiar with the fairly new acronym. It stands for "High Earners, Not Yet Rich" or another way to describe them is high earners with little to no savings, or the working rich. If individuals that are big spenders and not in the habit of saving much yet, they may find a way to mitigate some of their financial stress through modifying their tax filing strategy.

As Samuel Goldwyn once said, "The harder I work, the luckier I get!" But when it comes to investing, luck may play a huge role in outcomes no matter how hard you work.

Financial professionals need to address the special financial concerns of women. Women's History Month has its origins as a national celebration in 1981 when Congress passed and authorized a resolution and requested the President to proclaim the week beginning March 7, 1982 as Women's History Week.

Increasing your financial literacy may allow you to make better decisions about your money and your financial future. Many great resources are available to get you started on the path to financial literacy and to expand your current knowledge.

Retiring early as a couple is a goal shared by many, and if planned comprehensively, it may provide opportunities for travel, passion projects, and more quality time together. Retiring simultaneously can bring many benefits, such as shared experiences and time together, which may result in a stronger bond. However, it is essential to note that simultaneously retiring means that the couple may stop earning money around the same time, which can impact their income and savings.

The financial landscape is undergoing a significant transformation as the; Great Wealth Transfer; approaches, ushering in a new era of prosperity for younger generations. Over the next two decades, trillions of dollars will change hands, and women are poised to inherit a substantial share, projected to control several trillion dollars in investable assets by 2030.

As we kick off 2024, the world of retirement planning is undergoing a fairly significant transformation, as tax brackets, retirement contribution limits, estate and gift tax exemptions, among other things, are set to undergo upward revisions.

While women are sometimes considered to be more reluctant to invest than their male counterparts, when they do invest, they tend to outperform males and often get a greater overall return.

One of the more difficult conversations for family members to have is talking about estate planning. There are several reasons for this, including the reality of our own mortality and that of our loved ones. In some families, it is an unspoken taboo to talk about money. Many parents don’t want their children to know how much they have or how much their children will receive after they die for fear the kids may become lazy or entitled or that they won’t understand their parent’s

Thanksgiving is a holiday for spending time with loved ones, being grateful, and perhaps enjoying a bit of overindulgence. There are many financial lessons to be had in planning, preparing, and celebrating this annual feast.1 Here are four Thanksgiving lessons that might help your household's financial plan year-round.

If you’re aged 50 and beyond, retirement planning isn’t a pipe dream. It’s a looming reality, one where alarm bells sound off at every turn. And how could they not? News outlets feign a “doom and gloom” forecast. Yet, contrary to popular belief, financial advisement is not the dreaded money-pit. It’s the voice of reason. Here's what you should REALLY know regarding plans for your future.