High Net-Worth executives and those that have been self-employed, can experience common problems in their financial planning journey. Often, they have missed opportunities in their financial planning because they haven’t planned adequately for their retirement even though they make a high income.
Here in the Inland Northwest, we are recovering from our fire season. Many community members were displaced, and some lost their homes in the Gray Fire. What would your life be like if you were one of those victims? Do you have much of your net worth tied up in your home value? Would you be financially made whole if you suddenly were a fire victim?
As you progress along your career path, there's no telling how far you'll go. But to fully reap the financial rewards of all your hard work, you'll need to take charge of your own career. Here are a few issues you'll want to pay close attention to.
Single parents are faced with the pressure of supporting an entire household on their own—which can often make paying for college seem like an insurmountable goal. Fortunately, there are several different ways for single parents to save, invest, and pay for their child's college education.
As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to start saving for your child's college education. Or you might be concerned about planning for retirement. Whatever your circumstances may be, it's important to have a clear understanding of your overall financial position.
Working towards financial independence can often be a lifelong process. But for many, financial freedom may come far sooner—and include some fun along the way.
Do you know the answer if your financial professional asks you what type of investor you are? While it may be challenging to classify yourself off the top of your head, knowing what type of investor you are might help you avoid making knee-jerk decisions that could cost you money.
Are we in a recession or depression? In the last two years, news outlets have said we are two months away from a recession. That kind of negative forecasting has sent more people to revisit what they went through in their last recession and how difficult it was for them then.
Retirement is a time that many of us look forward to our entire careers. It is the reward for a lifetime of work and the time to indulge in hobbies and enjoy much-needed vacations. While everyone looks forward to this seemingly-magical moment, if it is not the ideal time or plan, you may be in a poor financial position and unable to enjoy your retirement as you envisioned.
While your race to financial freedom is not necessarily the most difficult task you might encounter, it may require significant effort. Also, winning the race to financial freedom may bring you prestige because you have a goal that many people aspire to accomplish.
