How Do Banking Industry Trends Affect Me?

The prodigious bank ledger used to be one of most important components of America’s financial system. Hand-written entries detailed every account holder’s deposits, withdrawals, loans and payments. A lot has changed since then. In fact, in just the last decade, banking has become as much a technological innovation as it has a money manager. Even…

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What Investment Consolidation Strategies Might Be Wise to Keep In Mind?

Throughout investment industry and financial media sources we constantly hear the message that our money should be diversified. By spreading assets throughout a number of different vehicles, we can take advantage of various market opportunities while helping protect them from some investment risks. But how much diversification is too much? And what exactly should it…

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How Can I Improve My Tax Situation for Next Year?

If your tax return was a target, the bullseye would be $0. You don’t want a giant tax bill—that means you didn’t have enough money taken out of your paycheck for taxes. And that huge tax refund? That’s not free money—it’s your money, which you’ve been loaning too much of to the government throughout the year (with…

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Why Is Legacy Planning So Important?

What Is Legacy Planning? Legacy planning is the act of preparing how you will bequeath your property and assets to your loved ones after your death. It’s more or less a synonym of estate planning, but the term has gained popularity among financial advisors in recent years. This is perhaps because “estate planning” has come to evoke…

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Why Shouldn’t I Borrow Against My Whole Life Insurance Policy When Short On Cash?

If you carry whole life insurance and have a bank account that’s been hard-hit by the coronavirus pandemic, you might consider borrowing against your policy. Tap your insurance in the wrong way, though, and you could create as many financial problems as you solve. Unlike a term life policy, which has no value other than…

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Can Money Buy Happiness?

In 2010, a study was published by two Nobel prize-winning economists purporting that people with more money feel better about their lives. However, that held true only up to an annual salary of $75,000 ($90,000 in today’s dollars). Past the $75k threshold, people weren’t necessarily any happier. That scenario has apparently changed in the ensuing…

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How Can I Tell the Difference Between Economics and Finance?

One of the more glaring lessons of the 2020 pandemic was that the economy and the stock market are not the same thing, nor do they necessarily move in lockstep. They are measurements of two different things, often indicating how the other will react. However, as we saw last year, the economy is a greater…

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