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Disposable Income

Disposable Income

What is ‘Disposable Income’ Disposable income, also known as disposable personal income (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for. Disposable personal income is often...
Organize Your Financial Documents with These 10 Helpful Categories

Your Annual Financial Planning Checklist

If you’ve taken on the task of mapping out your annual financial plan, you deserve a pat on the back. Ensuring that you’ve covered all the bases is important to both your short- and long-term financial health. Keeping track of your progress with an annual financial...
Long-Term Care Insurance: Who Needs It?

Long-Term Care Insurance: Who Needs It?

Most of us will buy health insurance and insurance for home, car and other property replacement. However, few people think to buy long-term care insurance, and assume that their savings will be sufficient to meet any associated expenses. In fact, long-term care can be...
Medigap Vs. Medicare Advantage: Which Is Better?

Medigap Vs. Medicare Advantage: Which Is Better?

Like any massive insurance enterprise, Medicare is confusing. Medicare.gov will give you hundreds of pages of explanation, but luckily, the basics of the program aren’t difficult to grasp. As the cliché goes, however, the devil is in the details. Medicare has four...
A closer look at Accelerated Benefit Riders

A closer look at Accelerated Benefit Riders

Life insurance policies that include accelerated benefit riders provide several types of protection to policyholders in one vehicle. These policies can now offer protection against chronic illness, critical illness and nursing home care on top of the traditional death...
Legacy Planning

Legacy Planning

DEFINITION of ‘Legacy Planning’ Legacy planning is a financial strategy that prepares a person to bequeath his or her assets to a loved one or next of kin after death. These affairs are usually planned and organized by a financial advisor. BREAKING DOWN...
Retirement Planning

Retirement Planning

DEFINITION of ‘Retirement Planning’ Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses,...
How does a Roth IRA grow over time?

How does a Roth IRA grow over time?

Your Roth IRA account grows over time thanks to two funding sources: contributions and earnings. While your contributions to your individual retirement account, or IRA, are the most obvious source of growth, the potential for your savings to earn interest and the...