In a recent study on graduating medical students by the Association of American Medical Colleges, they found that 67% of students indicated they had some education debt with the majority of students holding a debt of more than $150,000. The survey also found that at least 20% had other debts on top of their education […]
Proactive tax planning is crucial for high-net-worth individuals (HNWIs). Their financial situation may be incredibly complex, necessitating sophisticated tax strategies as they work toward specific tax planning outcomes. Here are seven tax planning tips intended specifically for HNWIs. Engage in year-round tax planning. HNWIS must understand the importance of proactive, year-round tax planning. Unlike taxpayers […]
To maintain good physical health, most people must exercise regularly, eat a balanced diet, and keep stress to a minimum. Achieving financial wellness is no different. It requires careful planning, smart decision-making, and consistent efforts toward improvement. Below, we discuss three tips to help you gain and maintain top financial health in retirement. Figure […]
Social Security benefits are critical to retirement planning. These monthly benefits provide a financial safety net for millions of Americans. But you must navigate the system strategically to get the most out of your Social Security benefits. Here are some valuable tips to help you manage your Social Security benefits that may make your retirement […]
Who doesn’t remember their first job, receiving your first paycheck, and even applying for and using a credit card for the first time? Access to money provides a sense of freedom and the ability to buy things you want with your own money. For many of us, we find it easy to spend money. When […]
Financial literacy is essential for everyone but can be crucial for high-net-worth (HNW) individuals who may have more wealth to lose than others. Navigating the complex financial landscape is no small task, and having the foundation of financial literacy can help. Financial literacy is essential to wealth management because it may help mitigate the risk […]
Financial literacy is crucial to a solid financial future and an enjoyable retirement. No matter your age, when you understand how to manage your money and finances, you can make sound financial decisions and take the needed steps toward your financial goals. So, if you are approaching retirement and want to improve your financial literacy, […]
As high-net-worth (HNW) individuals approach their golden years, retirement planning often becomes a focal point of their financial strategies. One aspect of this planning that sometimes creates confusion or misinterpretation is the role of Social Security benefits. Understanding how Social Security fits into the retirement picture can be crucial for those with significant wealth as […]
Wealth preservation is essential for high-net-worth (HNW) individuals, but it warrants a gender-specific focus, too. Particularly for HNW women, understanding the complexities of wealth preservation is crucial. Whether due to inheritance, accomplishment in the corporate world, or entrepreneurial fulfillment, more women today find themselves in the ranks of HNW individuals. What makes a woman’s […]
Regardless of the stage of life, your credit score is an essential component of your financial health when you’re in retirement. A consistently strong credit score can pave the way for greater confidence, easy loan access, and lower interest rates. Many retirees overlook the importance of maintaining a suitable credit score after they stop working […]
Technology continues to grow and evolve, allowing us to stay connected and perform many daily tasks from home. There is a drawback to technology, however. It often leaves us more vulnerable to scammers who hide behind the anonymity that technology provides and find ways to scam us out of our hard-earned money. Work towards keeping […]
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