Category: Financial Windfall

What is a Bear Market?

If you're reconsidering your current investment strategy, a volatile market is probably the worst time to turn your portfolio inside out. Dramatic price swings can magnify the impact of a wholesale restructuring if the timing of that move is a little off....
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You are going to retire when?

Just how wealthy are you? You'll want to figure that out before you make any major life decisions. Your first impulse may be to go out and buy things, but that may not be in your best interest. Even if you're used to handling your own finances, now's the...
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Portfolio Performance

Assessing Portfolio Performance: Choose Your Benchmarks Wisely You can’t help but hear about the frequent ups and downs of the Dow Jones Industrial Average or the S&P 500 index. The performance of both major indexes is widely reported and analyzed in detail by financial news outlets around the nation....
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Indexed Annuities

If you want to limit potential losses while participating in the potentially attractive returns of a market-driven investment but would also like a guaranteed return, an indexed annuity might be worth checking out. The performance of indexed annuities, also referred to as equity-indexed or fixed-indexed annuities, is tied to...
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Getting Help from a Financial Professional

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events,...
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Charitable Gifting

Charitable Gifting What constitutes a gift to charity? A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property–your time or personal services do not count. There are several different types of property...
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Personal Liability Insurance

What is it? Personal liability insurance protects your assets if you injure another person or damage someone else’s property. It’s known as third-party insurance because it protects you if a third party files a claim against you. If you are found legally responsible for causing an injury or property...
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Tax Consequences of Selling Interest in Business

When selling your interest in a business, you must consider a number of factors. One very important factor is taxation. Typically, you will transfer your interest in the business to others or to your corporation in return for cash or property. This will generally result in capital gain (or...
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Private Foundations

What is a private foundation? A tax-exempt entity operated for charitable purposes Private foundations are tax-exempt entities, just like hospitals or universities. What makes them different from organizations that are known as public charities is that private foundations are set up, funded, and controlled by a single individual, family,...
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Sudden Wealth

What would you do with an extra $10,000? Maybe you’d pay off some debt, get rid of some college loans, or take a much-needed vacation. What if you suddenly had an extra million or 10 million or more? Now that you’ve come into a windfall, you have some issues...
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Capital Gains Tax

Capital gains tax is imposed on gains realized from the sale of capital assets such as a home, an investment, or a business interest. Special maximum tax rates generally apply to long-term capital gains; these rates are typically lower than the rates that apply to ordinary income. These special...
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Wealth Due to Inheritance

Wealth Due to Inheritance What is it? Introduction If you’re the beneficiary of a large inheritance, you may find yourself suddenly wealthy. Even if you expected the inheritance, you may be surprised by the size of the bequest or the diverse assets you’ve inherited. You’ll need to evaluate your...
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Gifting for Education Savings

What is it? A gift is a voluntary transfer of money or property from one person to another person or entity (such as a trust) where the person making the gift receives either nothing or a lesser amount of money or property in return. In the context of education...
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Introduction to Designing and Managing an Investment Portfolio

Introduction Once you’ve identified your financial and investment goals and assessed your investing personality, you’ll need to create an investment portfolio that fits your needs and understand what’s involved in managing that portfolio on an ongoing basis. Entire books–actually, shelves full of books–have been written about ways to design...
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Financial Windfall Checklist

General information Yes No N/A 1. Has personal information been gathered? Marital status Date of birth Name of spouse/partner, date of birth Children’s names, dates of birth Health status Social Security numbers State of residence 2. Has financial situation been assessed? Size of financial windfall Manner in which windfall...
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