TIP OF THE WEEK
True or false: You need to be wealthy to use a financial professional. It’s a common misconception, but in fact there are financial professionals that can help at various stages in life, whether you’re just starting out or nearing retirement. It can be a huge benefit to sit down with one to discuss options, investments, savings and retirement.
No matter where you are in your life — new to the workforce, starting a family, in your big earning years or nearing retirement — some guidance from a financial professional can give you the road map toward a financial future.
You don’t have much saved for retirement. More than half of Americans have less than $10,000 saved for retirement, according to the American Payroll Association. But even if you’re flirting with 50 and don’t have much saved, it’s not too late to start building wealth for your future. A financial professional will assess your situation and help develop a financial strategy with the goal of a comfortable retirement in mind.
Or you do, and you’re nearly ready to retire. Saving for retirement and knowing how to use that money wisely in retirement are two different animals. A financial professional can help you build a strategy that aims to use your retirement savings, help it grow and help it last.
Your parents are aging or ill. Caring for an aging or ill parent is tough emotionally, and ambiguity or strife around finances only makes it worse. Elder care is an expensive business, and how best to use Mom and Dad’s money to make sure they get the best care possible can be a complicated quagmire, especially if siblings are at odds about what to do. Sitting down with a financial professional is a great way to sort this all out with a neutral third party whose focus is most appropriately using the funds that are available.
You’re going through a life transition. Getting married, divorced, starting a family or dealing with a death in the family can affect your finances as well as your emotions. When you’re about to walk down the aisle, for example, nobody wants to think about budgets and bills, but financial disagreements can be one of the top causes of marital problems. A session with a financial professional can be a preemptive strike against future money troubles.
You want to start investing. Finding a financial professional who understands your situation, and can help design solutions for your day-to-day financial concerns, can go a long way toward building financial peace of mind. You might be tempted to DIY, but a financial professional can work with you to create a strategy based on your timeline, risk tolerance and goals.
According to Forbes, the top seven vehicle recall rates are:
1. Mercedes-Benz C-Class
2. GMC Sierra
3. BMW 3 and 4 Series
4. Dodge Durango
5. Nissan Pathfinder
6. Ram Pickup
7. Toyota 4Runner
NUMBER TO KNOW
$302 billion: According to a new study by brand consultancy BrandZ, search-engine giant Google is the world’s most valuable brand with a value of $302 billion. Apple was second with a value of $301 billion.
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Video game developer bringing back Intellivision game console
Veteran video game developer Tommy Tallarico recently announced his company Intellivision Entertainment will debut a reboot of the Mattel Intellivision video game console. The Intellivision console was released in 1979 and competed with the Atari 2600 in the early 1980s. Although details of the new console won’t be released until October, Tallarico said his team is developing a new controller. The original system featured sports, action, space action, strategy, gaming, children’s learning and arcade games.
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