Only 18 months ago, managing cash was not something that anyone was really thinking about. However, the Federal Reserve’s Federal Open Market Committee (FOMC) has raised interest rates 11 times since March 2022 to combat the worst inflation the U.S. has seen in 40 years, taking short term rates from 0% to over 5%.
From 1920 to 2020, the U.S. population of adults 65 and older grew almost five times faster than the total population. As of the 2020 census, this group had reached 55.8 million, representing 16.8% of the U.S. population. With the increasing number of adults in the United States aged 65 and older, it’s worrisome that their overall financial health literacy remains relatively low.
Are you tired of feeling overwhelmed by your expenses, unsure where your money is going, and struggling to grow your savings? In an article earlier this month on avoiding lifestyle inflation, I briefly described one strategy called “reverse budgeting” and how we’ve found it to be a helpful way for families to gain control over their finances.
You’ve worked tirelessly to earn your medical degree, completed residency and have started a successful and lucrative career in medicine after sacrificing the better part of your 20’s. However, this newfound financial stability comes with the risk of lifestyle inflation—something that can slowly erode your long-term financial well-being if it is not managed wisely.
Divorce can be difficult, but the financial aspects add even more stress, and not always just to the couple. What happens if you have a beneficiary in your trust who is going through a legal divorce, or may have one in the future? It is important that both of you take...
Becoming parents for the first time is one of life’s biggest milestones, but it can be overwhelming. On top of the knowledge you need to know about caring for your child, there is plenty of financial information that you need to learn about as well. As a new parent,...
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