When a power outage knocked out electricity to a multistate region in 2003, Gabriella Barthlow, a financial coach in the Detroit area, was prepared. She had enough money on hand to buy food for herself and her two young children, plus put gas in her car in case they needed to leave home. “I was…
Annuity Market Will Cool in 2023 as Interest Costs Soar: Expert Forecast
A tumbling stock market and higher interest rates are forcing consumers to buy annuities. According to LIMRA, a trade group for the insurance industry, annuity sales in the third quarter of 2022 approached $80 billion, just beating the $79.4 billion record set in Q2. It’s an impressive 27 percent increase over last year. As in…
Canada Bans Most Foreigners From Buying Residential Property
The Canadian government has implemented a temporary ban on foreigners buying residential property for two years. The Prohibition on the Purchase of Residential Property by Non-Canadians Act took effect Jan. 1, as Ottawa attempts to ease a housing shortage among Canadian citizens. The ban was approved by the Canadian Parliament on June 23, to make homes…
The Savings Game: The Advantages of Life Insurance Over Retirement Accounts
By Elliot Raphaelson From Tribune Content Agency Although Ed Slott (IRAhelp.com) is an expert in IRAs and other retirement plans, he consistently points out that permanent life insurance has significant advantages for long-term retirement planning. The ramifications of the SECURE Act of 2019 only magnify these advantages in contrast to investing through taxable retirement accounts….
Don’t Let Kids’ Activities Break the Bank
Today’s selections from my virtual mailbag come from mothers who on the one hand are facing completely different dilemmas, but on the other are exactly alike in that they want the very best for their children. Dear Mary: My biggest budget busters are enrichment activities for our four children. I want to spark their joy…
9 Lessons to Learn From Being in the Entrepreneurial Trenches
By Kyle Hermans Once upon a time, my wife Jenna and I and our three kids under ten moved from San Francisco to Los Angeles, had another baby, and bought our first house together. This , we thought, is the perfect time to quit our jobs and start a business! [eyeroll] The idea of our…
Tips for 1st-Time Budgeters: Take Control of Your Money in 2023
So you’ve made a resolution to take control of your money this year—that’s amazing. A huge part of building new habits in any area of your life is just deciding you’re going to do it, so you’ve already gotten a big step out of the way. I know getting your finances in order can feel…
How Do Auto Rebates Work?
You’re usually on the hunt for a good deal when heading out to purchase a new car. And even if you know what you want, saving money is at the top of the list. Manufacturers often offer rebates on new vehicles. But exactly what are these, and how do they work? Do they really save…
Workplace Trends You Need to Know for 2023
By Dr. Samantha Madhosingh The New Year always brings a fresh perspective to our lives and work. And as with any fresh start, savvy leaders are identifying strategies to increase productivity, keep their workforce engaged and help take their business to the next level. A nuanced look at gender equality, closer-knit workforces and unique ways…
Investing: Most of the Bad News Is Baked In
By Anne Kates Smith From Kiplinger’s Personal Finance Lori Calvasina, head of U.S. equity strategy for RBC Capital Markets, offers insight into the investing forecast. Question: What’s your outlook for U.S. stocks? Answer: Over the next couple of quarters, things will continue to be choppy. The markets are in the middle of a bottoming process,…
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