A fiduciary financial advisor is an investment professional who is licensed with the United States Securities and Exchange Commission (SEC) or state regulators. Fiduciary advisors are important for clients because they are legally required to put clients’ interests ahead of their own. Using a fiduciary is important if you want an advisor to manage your…
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Top 25 Financial Goals from the Pros
It takes strategic planning and proper goal setting to keep your finances in shape. Being able to identify the right financial goals is essential to attain financial security. We spoke with the experts who shared the most important long-term and short-term financial goals that everyone should prioritize to achieve a financially healthy lifestyle. Below are…
Employee Stock Purchase Plan: How ESPPs Work & Who They’re Right For
An employee stock purchase plan (ESPP) is a benefit plan, like a Roth 401(k), that allows employees to make after-tax deferral contributions that can be used to purchase shares in the company they work for. Using an ESPP, employees can typically buy shares at a discount that they can hold until retirement or sell. How…
Employee Stock Ownership Plan: How ESOPs Work & Who They’re Right For
An employee stock ownership plan (ESOP) is a qualified defined-contribution employee benefit plan that provides the employees of a business an ownership interest in that business. An ESOP is used by employers to either reward employees or as an exit strategy from business ownership. If owned by an ESOP, the business can receive great tax…
Roth IRA vs. Traditional IRA: Differences & How to Choose
The biggest difference in a Roth vs. Traditional IRA is that Roth IRA contributions are taxed upfront instead of at the time of being withdrawn. Both accounts have the same contribution limits, investment options, and providers. However, Roth IRAs are better if you plan to make more money at retirement age than you do now….
11 Best CD Rates 2018
Certificates of deposit (CDs) are important savings tools that you can use to grow your savings by earning a prearranged interest rate over a set period of time. We’ve compared dozens of CD rates from banks and credit unions all around the United States to create a list of the best CD rates currently available….
Top 25 Ways to Save Money on Utilities from the Pros
Most households spend a huge portion of their budget on utility bills, making it difficult for them to save for other more important things. Although utilities are a necessity, there are different ways to help reduce your monthly utility expenses. We spoke with the experts who shared their tips on how to save money on…
Roth IRA: Rules, Contribution Limits & Deadlines
A Roth individual retirement account (IRA) is an individual retirement account that allows investors to contribute up to $5,500 per year for retirement. Unlike traditional IRAs, Roth IRAs allow post-tax contributions that then grow tax-free and are withdrawn tax-free during retirement. Roth IRAs are ideal for tax-conscious investors who want to lessen their income tax…
Rollover IRA: Rules, Limits & Deadlines
A rollover individual retirement account (IRA) is established with funds that are rolled over from another IRA or 401(k). Rollover IRAs are used by investors who want to change IRA providers. If you want to change providers or get more investment options, an IRA rollover is a free process that’s ideal for getting access to…
How to Find a Financial Advisor That’s Right for You in 7 Steps
A financial advisor is a licensed professional who helps clients build and execute financial plans based on their individual needs. It’s important to identify your needs before choosing a financial advisor because they typically serve a variety of functions. There are seven steps to help you find the right financial advisor that can meet your…
Robo Advisors: What They Are & Who They’re Right For
A robo advisor is a computer program that manages client investments automatically based on a preselected strategy. Robo advisors make investment decisions based on algorithms rather than input from humans, who can react emotionally or make mistakes. Robo advisors are also typically much less expensive than traditional financial advisors, making them ideal for cost-efficient, automated…
6 Best Robo Advisors 2018
A financial robo advisor is a service provider that manages portfolios using strategies that trade and rebalance investments automatically. Robo advisors are best for passive investors who want cost-efficient ways to invest in a wide range of investments. We examined more than a dozen of the most popular robo advisors to identify the best robo…
