Business owners who have acquired a lot of personal assets face the possibility of having their assets targeted by creditors who want to resolve a business liability. This is especially true in the case of a business owner who guarantees a debt of the business with his or her personal assets. Although many business owners go through the process of protecting their assets from busine
You’ve worked hard and after five years of disciplined savings, you’ve been approved for a 20 year $200,000 mortgage. It’s an exciting time and amongst the financial decisions ahead of you is determining if you should buy the bank-sponsored mortgage life insurance policy recommended by the loan officer.
If given the choice, most people would choose financial freedom over financial servitude. Who doesn’t want to be financially independent where their money is working for them as opposed to them working for money? The problem for many is that kind of choice is an abstract exercise of futility as they struggle to navigate the waters of daily living paycheck-to-paycheck or in a c
Goals are one of the principal starting points of any financial plan. It may seem like the idea of goal setting is reserved for life’s biggest adventures, but in reality having a different spectrum of goals, whether it be short term or long term, is crucial for keeping your finances and savings on track. How do you ensure your financial goals become a reality in your lifetime?
Imagine the following scenario: You run a successful business with your business partner of 20 years. Your business partner dies unexpectedly. After the funeral, your deceased partner’s spouse shows up at your office with her two grown children. They ask for the key to your partner’s office – not to clean it out, but to move in.
You’re twenty-five and feeling alive. You’re settling into life after college, paying off your debts, and slowly figuring how to 'adult', but with the responsibility of bills, rent, and even keeping up social appearances, prioritizing financial planning is something far too often pushed to the side.