Originally posted on: https://johnsavadjian.wordpress.com/2022/11/29/financial-planning-trends-for-2023/ With 2023 right around the corner, it is important to start thinking about your financial plan…
Originally Posted on: https://johnsavadjian.wordpress.com/2021/12/20/is-the-1-financial-advisor-fee-a-thing-of-the-past/ Charging a percentage of assets under management has been the accepted fee model in the financial…
Originally Posted On: https://johnsavadjian.wordpress.com/2022/01/20/is-combining-investments-the-right-idea-when-getting-married/ Getting married involves more than its fair share of decision making. One of the biggest of…
Originally Posted on: https://johnsavadjian.wordpress.com/2022/02/22/financial-planning-resolutions-for-2022/ Now that we’re approaching the tail end of February, it’s not too early to assess the…
When people want to know if a financial advisor or financial planner has a fiduciary duty, those who have the…
The COVID-19 pandemic has affected nearly every aspect of our lives. And with so many people laid off or working reduced hours, many people’s personal finances have been thrown into complete disarray. In other words, the pandemic is changing the way people deal with money. While there is still a great deal of uncertainty ahead of us, financial planning should not take a backseat just because it’s become more difficult to forecast for the long-term. Regardless of your current financial situation, there are steps you can take to lessen the financial hardship of the Covid-19 pandemic and prepare for the future.
Paying for financial advice becomes a solid investment in your future. Working with a professional financial planner can be very…
Planning for retirement does not have to be a difficult or stressful process. However, waiting until the last minute to do so can make the transition less than smooth. It is never too late to start preparing for retirement, but starting now will be more mentally, and financially, rewarding than starting in a few years. When deciding on consulting with a financial adviser, they will ask a few basic questions to get started. Once those questions have been answered, the retiree will be on their way to creating a customized investment plan to financially prepare for retirement. But first, there are a few steps to take to ensure the first visit with a financial adviser in New Jersey is tailored to the needs of the retiree. Before that first meeting, prepare by doing the following:
When creating a savings plan, many people factor in an amount that they would like to invest. However, few people know how to factor in an investment fee. That’s right. It costs money to invest money.
Transaction fees versus ongoing fees
For those with an investment account, take a look at the annual report that is sent. Some firms will send a quarterly report as well. If this is the case, evaluate all documents together and identify any fees that appear on the statement. Specifically, there are two types of fees to look out for. Transaction fees will be those that occur when stock is bought or sold. At many investment firms, these fees may be waived for the first 25 transactions or so, but then cost a certain dollar amount or percentage of the sale, whichever is higher. Don’t be surprised if an affordable investment account suddenly becomes less once the trial period of 25 trades is over.
Other fees are less surprising.
Hospitals today are not the same as you may remember from back in your youth. Hospitals, for the most part, are all about making a profit these days, and, since the Affordable Care Act (“ACA”) became a reality, more and more people find themselves with elective surgeries are on the rise. The ACA has also increased the need for more hospitals, as well as doctors and related hospital staff. Truly the ACA has been a win-win situation in the medical field, especially when you discover that as recently as 2014, hospital’s uncompensated care costs were estimated to be a whopping $7.4 billion, or 21% lower in 2014 than they would have been in prior years due to the absence of coverage expansions. One of the ACA’s chief aims was to incentivize hospitals to promote high-quality care and avoid unnecessary re-admissions, and slowly and surely this is coming to fruition.