Employers can have an effect on the savings and retirement rates of their employees more than offering 401(k) savings plans. A working paper by the National Bureau of Economic Research found that even though companies leave retirement savings plans to firms like Prudential and Vanguard, it is important for them to remind workers to periodically reassess their retirement security and savings rates. The study focused on an experiment in the state of North Carolina's Retirement
Half the time, we hear millennials are a mess. Half the time, we hear we’re totally crushing it. The truth? Like any other generation, we’re making some smart decisions … and some that aren’t so smart. According to a recent survey by Charles Schwab, that’s the case when it comes to our financial habits too. 4 Things Millennials Are Doing Right With Their Money Let’s start with the good news. Based on the Charles Schwab survey results, here are four ways millennials are doing
The field of strategic philanthropy is more sophisticated and complex than ever. The field of strategic philanthropy is more sophisticated and complex than ever. The opportunities for philanthropists to make a difference are better defined. The understanding of philanthropic “best practices” has evolved. Although mission-based philanthropy is highly individualized, there are some broadly applicable lessons. Here are seven that have risen to the top over the past seven years.
Nearly half of student loan borrowers graduate school owing at least $20,000 – which is double the share of borrowers a decade ago – according to a new report from the Consumer Financial Protection Bureau (CFPB). “The Bureau’s research shows that people are taking on more student debt later in life, and having a tougher time paying it back,” CFPB Director Richard Cordray said. According to the latest student loan debt statistics from personal finance site Make Lemonade, there
Taxes are rarely the first thing an entrepreneur thinks about – which is why advisors should. With that in mind, the IRS put together a short list of tax-related considerations for startup businesses that financial planners can share with clients. Click through to see 6 tax considerations your entrepreneurial clients may have overlooked. The IRS provides additional resources at the Small Business and Self-Employed Tax Center. Please click here to view the list: http://bit.ly/
The U.S. Securities and Exchange Commission announced today that Louis Martin Blazer III, founder of Blazer Capital Management, has been ordered “to pay nearly $2 million in fines. The former Pittsburgh financial adviser was accused of embezzling $2.35 million from investment accounts of pro athletes and other wealthy clients to invest in movies. When his ploy was discovered, Blazer III made “Ponzi-like payments” and lied to SEC examiners about taking money from five clients
For many investors, an important part of their overall investment portfolio is exposure to the U.S. equity market. Is this best accomplished by using a total stock market index fund or by buying a combination of several different index funds? This article addresses that issue. One-stop shopping has gained in popularity as an investing paradigm during the last decade. Vanguard, for example, has a “one stop” offering for investors wishing to simplify their exposure to the U.S.
Despite rapid innovations in data processing and machine learning, many businesses have yet to make the leap from the Industrial Age to the information age, and the gap between technological and organizational progress is widening. Closing this gap requires much more than short-term fixes, like adopting new technologies. Businesses need to organize around long-term strategies for growth and partnership in a sustainable way. The consequences for not doing so can be dire. Eastm
Transfer a house to beneficiaries at a reduced gift tax cost and remove an asset expected to appreciate in value from an estate. A qualified personal residence trust (QPRT) is an estate-planning vehicle that allows a homeowner to transfer his home to a trust, while retaining the right to live in it for a term of years. This technique allows the individual to transfer the house to beneficiaries with a reduced gift tax cost and, should the benefactor live long enough, remove th
Investors looking to take a flyer on the “budding” industry need to understand that risks go up when companies “touch the plant.” Safer plays are further down the supply chain. Cannabis has been legalized for medical use in 29 states and approved for recreational use in eight, and market observers, including the majority of financial advisors, believe it is only a matter of time before its national prohibition comes to an end. That means we are witnessing the birth of a new i