Author: Thomas Callaway

Taking a Hard Look at Long-Term Care Insurance

For many Americans, buying insurance to cover your home, car and health is standard practice. But long-term care insurance is a mystery for many, even though it offers important financial protection against some of life’s uncertainties. The goal of long-term care (LTC) insurance is to protect the policy owner from footing the entire bill of an extended stay in a healthcare facility, such as a nursing home or rehabilitation center. Because there’s no telling whether you will need long-term care in the future, and the costs can run very high if you do, it’s worth your while to learn...

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Take a Fresh Look at Your Finances

Remember those financial resolutions you committed to at the beginning of the year? If they seem like a distant memory, the start of summer can be a great time for a reset. Follow the tips below to refocus on your financial goals during the dog days of summer. Start with a clean slate. Review your financial situation and recent spending patterns. Is your spending aligned with your financial goals? Re-evaluate any bad money habits that may be holding you back from making better financial decisions. Remind yourself that healthy financial behaviors can become part of your daily routine. Commit...

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Small Savings Can Make a Big Difference by Thomas Callaway

Small Savings Can Make a Big Difference It can be easy to overlook the importance of saving for retirement, especially when you’re focused on shorter-term financial priorities such as buying a new car or saving for college. However, it’s crucial to consider your long-term financial security and make saving for retirement a priority. If you start early and save regularly, even small sums can grow into significant retirement savings. Additional money you save today may have years – or even decades – to grow before you need it for retirement. Consider the following two examples to see how saving...

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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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