The growth of exchange–traded funds (ETFs) has been explosive. In 1998, there were only 29; at the end of 2013, there were 1,293, investing in a wide range of stocks, bonds, and other securities and instruments.¹ At first glance, ETFs have a lot in common with mutual funds. Both offer shares in a pool of […]
Archive for June, 2014
Buying a home is the single largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed- or variable-interest-rate mortgage. True to its name, fixed-rate mortgage interest is fixed throughout the life of the loan. In contrast, the interest rate on […]
Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money. In 2014, as in recent years, Americans will spend more on taxes than on groceries, clothing, and shelter combined. In fact, we worked until mid-April just to earn enough money to pay our […]
Individuals hold more than $2.0 trillion in annuity contracts; a tidy sum considering an estimated $6.5 trillion is held in all types of IRAs.1 Annuity contracts are purchased from an insurance company. The insurance company will then make regular payments — either immediately or at some date in the future. These payments can be made […]
What has upswings and downturns, troughs, peaks, and plateaus? Though such terms could easily describe a roller coaster ride, in fact they are commonly used to refer to something known as the business cycle. The business cycle — also known as the economic cycle — refers to fluctuations in economic activity over several months or […]
Almost half of American households carry a balance on their credit cards, and the average debt totals $15,263.¹ Fast Fact: Credit Inquiries. Your FICO score won’t drop by much when you apply for new credit. But if you apply for several new credit cards over a short period, your credit report will reflect the activity. […]
Fast Fact: Get Over It. A bad credit score doesn’t last forever. Since your credit score is a “snapshot” of your risk at a particular point in time, it changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit. Your credit […]
Ancient Chinese merchants are said to have developed a unique way to reduce their risk. They would divide their shipments among several different vessels. That way, if one ship were to sink or be attacked by pirates, the rest stood a good chance of getting through and the shipment could be saved. Your investment portfolio […]
Financial Documents Joint Ownership Durable Power of Attorney Living Trust What does it do? Enables you to own property jointly with another person Authorizes someone to handle legal and financial decisions if you become incapacitated Holds your belongings until your death Can it authorize someone to handle your financial affairs if you are unable to […]
Do you have a will? A will enables you to specify who you want to inherit your property and other assets. A will also enables you to name a guardian for your minor children. Tip: One key difference between a will and a living trust is when they take effect. A will takes effect when […]
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