The price to sleep better at night for Lisa was $40,000. That was how much she owed in credit card debt. But getting her to take the painful steps to reduce that debt was tough. For instance, there were the gifts she loved to give to her beloved niece.
Two jobs, a new home, education underway for a new career: Then, at just age 59, comes the stroke that leaves a husband with no bad medical history suddenly wheelchair bound and his younger wife tossing in the financial and emotional storm.
The couple had made every mistake you could: retired too early, spent too much, took on too much house and too much debt. “This is killing me,” Sarah told the advisor, as she burst into tears.
Each time you whip out your credit card, your purchase and how and when you pay it off contribute to your credit score. That score can determine – or wreck – your ability to buy big-ticket items such as homes. If your score’s low, here are ways to give it a boost.
Besides helping you build wealth, your financial planner ought to also offer ways to help you safeguard it. One key – and often neglected – aspect of comprehensive planning is asset protection.
Is there hope for Greece, Europe’s worst economic sinkhole? No. Regardless of how many new bailouts or austerity renegotiations they get, the country is such a mess that optimism is fruitless.
According to his death certificate, my dad died of myocardial infarction, aka a heart attack. His health deteriorated for some time beforehand, so his loss wasn’t a total surprise. But what really killed him?
Your net worth is a barometer of your financial health. Regularly checking this number helps you assess where you’re at, measure your progress toward your goals and build a financial plan.
Tax authorities demand to know why a fourth grader never reported thousands of dollars in income from a factory job. Collection agencies suddenly hound a college student for more than a decade’s worth of credit card debt. Shocking but true: Children and minors are actually almost as likely as adults to be victims of identity theft.
Working out with a partner keeps you motivated and holds you accountable for showing up at the gym. The same goes for your finances. Working with an advisor makes you more likely to be consistent and disciplined.