Financial Planning

Financial Planning is a broad topic that spans your entire financial life. These articles cover your early finances, the retirement saving and planning process, the related topic of Social Security, your retirement, and finally estate planning. Additionally, check out related articles in these sections: investing, savings, and real estate and homeownership.

Financial Planning is a subsection of asset management.

The Difference Between Fee-Only and Fee-Based Financial Advisors

The Difference Between Fee-Only and Fee-Based Financial Advisors

Many people feel that they could benefit from the help of a financial planner or financial advisor. However, before you decide to work with someone, it’s a good idea to make sure you understand how he […]

The 4% Safe Withdrawal Rule May Be Hazardous to Your Wealth

The 4% Safe Withdrawal Rule May Be Hazardous to Your Wealth

Beware of oversimplification. As Albert Einstein wisely stated, “Everything should be made as simple as possible, but no simpler.” Nowhere is this truer than the conventional wisdom in retirement planning. The “4% rule” became the oversimplified […]

What Should You Do With Your 401(k) When You Get Laid Off?

What Should You Do With Your 401(k) When You Get Laid Off?

When you get laid off, there are many things you need to do, including deciding what to do with your 401(k). You have the choice of leaving the 401(k) funds in your current plan, cashing out […]

Every 401(k) Plan Participant Pays Investment Fees

Every 401(k) Plan Participant Pays Investment Fees

Many investors are oblivious to the fact that 401(k) plan fees exist. Fees such as plan administrator fees, individual service fees and investment fees are part of every retirement plan to help keep the plan running. […]

How to Get Your Finances Under Control

How to Get Your Finances Under Control

While glancing through a fitness book (Fit and Well: Core Concepts and Labs in Physical Fitness and Wellness) I noticed a subtitle — Reaching Wellness Through Lifestyle Management.  The section “introduces the general process of behavior […]

Hardship Withdrawal Rules: Withdrawing Money from Your 401(k) Plan

Hardship Withdrawal Rules: Withdrawing Money from Your 401(k) Plan

We all know that we should not be using our 401k as an emergency fund. However, we all run into unexpected expenses at some time or another, and we might not have the money to pay […]

The Crossover Point: How Do You Define Financial Independence?

The Crossover Point: How Do You Define Financial Independence?

In “Are you wealthy? Here’s a test,” I defined financial independence as: “when income from my assets can cover all my family living expenses and a few luxuries”. These words were never clear in my mind […]

6 Reasons Why You Need a Financial Advisor

6 Reasons Why You Need a Financial Advisor

Not everyone has the time or inclination to master the subject of personal finance. Luckily, it is not always necessary to master it. In the same way you can hire an electrician without understanding the inner […]

When is the Best Time to Start Taking Social Security Benefits?

When is the Best Time to Start Taking Social Security Benefits?

One of the questions we all have to face is when to start taking Social Security benefits. This is an issue of importance because the amount you receive in benefits depends on how much you have […]

What are Qualified Distributions?

What are Qualified Distributions?

A qualified distribution is a withdrawal from a retirement account that does not result in an early withdrawal penalty. For retirement accounts that are generally withdrawn on a tax-free basis if the withdrawals are made when […]

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