Divorce can be extremely stressful, and often dealing with the finances may seem crippling. Although the primary focus is on your family and mental health, your financial situation needs to be top of mind as well. Keeping divorce and finances in mind will prepare you for this next chapter and avoid mistakes that may impact your future. Here are 6 of the most common financial issues to address if you are considering a divorce or are working through these logistics already.
Read MoreInflation is here. I might even suggest that inflation has been here for the past year or so. However, inflation is just now starting to show its true colors in the data we all see. So, what is inflation, and what is the current inflation rate in 2021? Is inflation good? And finally, what might inflation mean for me and my financial planning considerations?
Read MoreThey say there are only two guarantees in life: death and taxes. We have many resources and information around taxes, and while death is never a fun topic to discuss, it is inevitable. Unfortunately, it also is an area we all have to deal with at some point. You may experience the entire range of emotions when a loved one passes away, so I have put together a checklist for after the death of a spouse, as well as some financial considerations to help guide you during this challenging time.
Read MoreCOVID has led to a lot of changes. Some may stick, and others we may soon forget. One lifestyle change that has always been important but became exaggerated during the pandemic is where and how we want to live. With remote work options, cost of living projections, and extreme differences in political opinion, we have seen many moving out of the city, many moving back into the city, and some even moving to an entirely new state. If you find yourself in this boat and are considering a move, here is what to consider when buying a house or relocating from a financial perspective.
Read MoreOften, a lot of time and attention is paid to the more traditional pathways of financial planning. When can I retire? How do I put my kids through college? How can I make sure my estate is handled properly when I am no longer here? However, for families with children and beneficiaries with special needs and considerations, comprehensive planning takes on a new level of thought. This is where special needs planning and, more specifically, a Chartered Special Needs Consultant can be of help.
Read MoreMaking a career transition is considered one of the most stressful changes we deal with throughout our lifetime. Although a job change may lead to good things and growth opportunities, it can still be very stressful as you deal with the nuances of new options, a new work environment, and new co-workers to adjust to. Here are a few key areas to address when you make a career shift to help be sure the bases are covered financially.
Read MoreYou’re finally retired; congratulations! You have worked hard to get to the point of being able to transition to retirement, and I am sure you feel excited, optimistic, and scared at the same time. The transition to retirement chapter is one of the most exciting times in our lives, and retirement is all about enjoying your time. Before you get too comfortable on that couch, there are a few key considerations to explore as you transition out of the workplace.
Read MoreDid you know that April is Financial Literacy Month? The goal of Financial Literacy Month is to highlight the importance of financial literacy, as well as educate on how to establish and maintain healthy financial habits. You might be wondering, however, how to increase your financial literacy. That’s why we wanted to take a moment to share how to improve financial literacy, whether you are just getting started on establishing healthy financial habits, or if you are just looking to refresh what you already do.
Read MoreThe field of financial planning has come a long way in the last decade or so. Since more and more people are labeling themselves as "financial planners" in some way, it has become harder for potential clients to know what that really means or what kind of service a planner can provide, and the question of, “What is a Certified Financial Planner?” is often asked. Here is exactly what CFP® stands for.
Read MoreRoth IRAs have become more and more popular lately as savers recognize tax-free assets' benefits in retirement. However, there are also lesser-known nuances that are important to understand when it comes to Roth IRA accounts, namely the Roth IRA 5 Year Rule.
Read MoreAs more and more people begin to explore investing and financial planning, one question seems to come up quite often. "Are you a fiduciary?" Since we at Mainsail get this question more than any other, I thought I would explain what is a fiduciary, and proudly state that all of our advisors serve our clients under the fiduciary standard.
Read MoreOne of the biggest financial challenges for most families is the uncertainty around long-term care costs. The costs can be for anything ranging from in-home medical support to retrofitting a home for more ease of use to paying for a stay at a facility of some sort, such as skilled care or assisted living. Recently, the WA House Health Care & Wellness committee has voted in favor of advancing the Washington State Long Term Care Trust Act.
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