Author: Thomas Callaway

Retirement Saving for the Self-Employed

Retirement Saving for the Self-Employed The choice to become self-employed can be a fulfilling journey but it comes with many responsibilities. Entrepreneurs just starting out are in control of virtually every aspect of their business, which includes their retirement. If you are self-employed or thinking about making the leap, make sure you prioritize your own financial future. Begin by exploring retirement plan options available to you. Make retirement saving a habit If you are self-employed, you need to make retirement saving part of your routine. Although it may be challenging to determine what your salary is – and therefore...

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Essential Conversations about Family Wealth | Financial Spotlight

Essential Conversations about Family Wealth How confident are you about your family’s finances? How often do you discuss money with your loved ones? According to the Family Wealth Checkup study by Ameriprise Financial, there’s a correlation between financial confidence and communication. While many families are discussing financial issues, they tend to shy away from diving deep into topics like inheritance and estate planning, leaving some family members with unrealistic expectations. Here are some tips to help you discuss money matters with your family. Don’t wait for a tragedy to bring up finances. Family conversations about finances lay the foundation...

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In Unpredictable Times, Stay the Course | Financial Spotight

In Unpredictable Times, Stay the Course The year 2017 has been an eventful year in the news, with a seemingly endless stream of fast-breaking developments coming out of Washington and other parts of the world. Through all this commotion, the stock market has posted significant gains. Investors who have stayed invested in stocks have likely been rewarded. At the same time, investors can’t assume that this market environment will continue. At some point, the long-running bull market (currently in its ninth year) could suffer a decline. Are there steps investors should take to prepare for that? Avoid overreacting Investors...

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Five Reasons to Plan for the Unknown | Financial Spotlight

When you plan for the future, you may think about positive events such as marriage, starting a family, retirement or grandchildren. Yet there are other life changes such as job loss, illness, disability, or needed to care for a family member, that can take an emotional and financial toll. While it’s natural to avoid thinking about these difficult events, it’s short-sighted to ignore the possibilities. Here are five compelling reasons why it’s better to prepare your finances for the unexpected rather than simply cross your fingers.   Challenging life events are hard enough to manage. Financial decisions made in...

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Financial Considerations for Foster Care and Exchange Students

Financial Considerations for Foster Care and Exchange Students Many families have a desire to extend the warmth of their home to foster children and foreign exchange students. For many, welcoming a new child or student into their family can be rewarding – for both the child and your family – however the arrangement does require some planning. As you consider becoming a foster or host parent, make sure you also anticipate the potential financial impacts. First, think about the lifestyle you want to provide for the student. What experiences, family traditions or activities do you want to share with...

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