Going through a divorce can be a difficult experience both emotionally and financially. If you are divorced, you are not alone: approximately 40 to 50 percent of marriages in the United States end in divorce. While transitioning into a new life, certain areas of concern may arise now that you are on your own.
Conventional wisdom says that life insurance is sold, not purchased. In other words, some people are reluctant to discuss the importance of owning life insurance, and others are simply unaware of the need to have life insurance. Although many large companies provide life insurance as part of their benefits package, this coverage may be insufficient.
Life insurance may be a cornerstone of a sound financial plan, providing potential financial stability to a surviving spouse, children, or other family members in the event of your untimely death. Sadly, many Americans have no life insurance coverage whatsoever, and of those who do, many don't have enough.1
As we discussed here last week, August has been one of the worst months for stocks in recent decades. After last week’s more than 3% drop in the S&P 500 Index, seasonality could be taking hold once again in U.S. equities.
Outside of August’s track record, we’ve identified our three keys for the market this month:
The Social Security Administration (SSA) has had, since 2014, an online option (called my Social Security) for receiving annual benefit statements -- however, if you do not wish to open an account, you may still estimate your Social Security benefits.
A bull market can promote overconfidence. You may be lulled into thinking that the major indices will rise for years to come. That is not a given. The danger arrives if the market slumps and your income is too heavily tied to equity performance. The upside is that when the bulls run, it may be worth assuming greater risk exposure as a tradeoff for greater investment yields.