Risk management is a key component in any successful business plan. In today's world — where data breaches are common occurrences — it's especially important for business owners to understand the digital risks they face. Are you doing all you can to mitigate the risk of a cyberattack? The importance of cybersecurity
One of the most common mistakes is neglecting to create a financial plan. Many lottery winners assume the money will last indefinitely, but the reality is stark: approximately 70% of lottery winners go bankrupt within a few years (according to the National Endowment for Financial Education). To prevent this, seek assistance from financial professionals who can help craft a comprehensive financial plan aligned with your goals and circumstances.
If you're like many, you may associate long-term care with nursing homes and end-of-life care. But far more people will need long-term care in a crisis—an injury or illness that requires long-term care or rehab before you can live independently again. And while it's important to make long-term plans for long-term care, crisis planning can be just as crucial when it comes to preserving your assets. Here we discuss three key differences between planning for long-term care and planning for a crisis.
In this digital age, where convenience often goes hand in hand with risk, safeguarding your financial health is more important than ever. Remember, your financial security is worth the effort. While we can't eliminate all risks, we can take proactive steps to minimize them and protect our financial well-being.
Are you a football fan? If so, you understand the significance of an audible call at the line of scrimmage and how sometimes you are also forced to call an audible in life. Modern football has evolved since the late 19th century when Walter Camp at Yale University first pushed the idea of a quarterback receiving the ball from someone at the line of scrimmage. Over the years, players and referees have had to adapt to changes in the rules and new technologies. Flexibility and being able to adapt quickly are crucial skills that can help you navigate many aspects of your life, including financially. When it comes to emergency preparedness and planning, we often think about small steps taken over a long period of time. For example:
Being successful in the business world has been especially challenging for women in recent decades as they continue to strive for equality in the workplace and advancement as well as comparable advancement opportunities. At the same time, however, there are many women in leadership positions who continue to see success. Below are some of their strategies for claiming a place at the table.
Financial infidelity is a term that describes the act of hiding financial information or activities from your partner. It can manifest in various forms, including secret bank accounts, undisclosed debts, hidden spending, or even lying about your income. While it might not seem as harmful as other forms of infidelity, like emotional or physical affairs, financial infidelity can erode trust and cause serious damage to a relationship.
Artificial Intelligence-powered tools, such as ChatGPT, have the potential to revolutionize the efficiency, effectiveness and speed of the work humans do. And this is true in financial markets as much as in sectors like health care, manufacturing and pretty much every other aspect of our lives. I’ve been researching financial markets and algorithmic trading for 14 years. While AI offers lots of benefits, the growing use of these technologies in financial markets also points to potential perils. A look at Wall Street’s past efforts to speed up trading by embracing computers and AI offers important lessons on the implications of using them for decision-making. Program trading fuels Black Monday
In the college savings game, all strategies aren't created equal. The best savings vehicles offer special tax advantages if the funds are used to pay for college. Tax-advantaged strategies are important because over time, you can potentially accumulate more money with a tax-advantaged investment compared to a taxable investment. Ideally, though, you'll want to choose a savings vehicle that offers you the best combination of tax advantages, financial aid benefits, and flexibility, while meeting your overall investment needs.
If you’re thinking about divorce, or you’re in the middle of divorce, there are financial considerations you have to think about. It’s hard because most people are so stuck in the emotional aspect of a divorce, but if you want to protect yourself, these are some items you need to address:
