The first step towards achieving financial security in life is to make and follow a sound financial plan. Financial planning is critical towards amassing enough wealth to lead a comfortable life. However, even with a good plan in place, there are many pitfalls that need to be avoided at all times. Unnecessary mistakes in financial ...

Do you have a ‘Why’ to live for? A ‘Why’ brings a purpose to your life, and is a pre-cursor for ‘How’ to live. It makes your goals more achievable and real. People go to college for an education that can get them a good job, they eat more vegetables to maintain good health, they ...

The idea of any investment being risk-free is nothing but a farce. The degree can vary from one investment to another, but risk in investment is omnipresent. There also exists a popular concept of risk-reward, which follows the simple principle; ‘the higher the risk, the higher is the reward at the end’. But not many ...

Is the mere thought of retirement giving you sleepless nights? Well, you are not alone. According to a recent survey conducted by Bankrate, 36% of Americans are losing sleep over financial concerns. The life expectancy is high in the U.S., a baby boomer is expected to live for an average of 78 years. These statistics ...

Savings are a great way to ensure that your future remains stable and secure.  When we talk about future savings, we often neglect planning for a very important event, i.e. college. With the increasing debt of student loans, planning for education funds is an important part of today’s economy.  But surprisingly, according to a survey, ...

If you are tired of working now, just imagine how hard it will be to go back to work when you run out of money during retirement. Even in your 70s and 80s, you would still want to travel, eat out, and have a place to call home. But unlike a steady salary that you ...

Insurance is a sensible way to infuse cash into your account for dealing with the adverse consequences of life. The agreement provides financial protection not only during your lifetime but even beyond. Buying an insurance policy can be seen as a sinecure. However, there are considerations you need to take note of before picking the ...

There are several ways to save money for retirement. You can invest in mutual funds, open a savings account, a 401(k) retirement account, etc. But if you fail to strategize your withdrawals for each of your savings methods, you could end up losing a major chunk of your money to taxes and penalties. While everyone ...

Estate planning can seem tricky. It is a big responsibility to ensure that your descendants are secure and content when you are not around anymore. It is also important to make sure that your hard-earned assets are not wasted away in taxes and land up in good hands.  Apart from the fact that estate planning ...

Margaret Mitchell wrote in her bestselling novel, Gone with the wind, “Death and taxes, there’s never any convenient time for any of them.” We can safely assume that nobody likes to pay tax as they tend to take away a lot of our earnings. But what if there was a way to save up on ...