Learning how to properly manage money is a crucial life skill that can take years to develop. For teens who may be earning an income for the first time, there can be a steep learning curve when it comes to financial literacy. Laying the foundation for this education early can help establish healthy financial habits that carry into adulthood. You can guide your teen by teaching them the basics of money management at home to help them build a strong foundation of financial literacy and avoid financial pitfalls along the way. Foster a habit of saving Whether it’s an allowance…
Insights & Advice
Nichole Dupont
Women and Wealth: Taking Charge of Your Finances
When it comes to financial planning, women are likely to face different challenges than men. For one, they earn less than men on average, and they’re more likely to work part-time jobs or take time away from their careers to raise children and care for family. Less income means less money to devote to savings On average, women earn just over $0.80 on the dollar compared to men, leaving them with less money available to pursue financial goals, like saving for retirement. If you work in a job that offers a retirement plan, such as a 401(k), be sure to…
Tips for the 2021 Tax Season
Preparing for the 2021 Tax Season How a financial advisor can help you manage your taxes this year Reducing your tax burden can help you manage your wealth and free up money to meet your financial goals and build your legacy. But tax rules are complicated, and you may need help understanding all the methods you can use to minimize your tax burden. Your financial advisor is one resource you can tap to help you develop strategies that fit your plan and reduce your tax exposure in 2021. Here are four ways they may be able to help. Tax-deferred accounts…
Choosing the Right Life Insurance Policy
How to compare plans based on your specific needs The basic premise behind life insurance is simple: You pay premiums to an insurance company, which then pays your beneficiaries a certain amount after you die. But not all life insurance policies are the same. In fact, the right policy for one person may be the wrong choice for someone else. Understanding the basics of life insurance and what to look for in a policy can help you find coverage that fits your unique needs. What is life insurance? Life insurance is a powerful tool for many different financial situations. Here…