Women on Wealth’s purpose is to empower women to make informed financial decisions for a better and brighter future. The mission is to serve as a platform for women to excel both financially and personally.
It costs on average $233,610 to raise one child.1 For most, that’s a significant chunk of change. If you and your spouse are curious about the financial ramifications of having a child earlier or later in life, there are plenty of pros and cons to consider.
Having a new baby is a much-anticipated event. While growing a larger family brings added joy and love to your household, it can also wreak havoc on your finances if you don't properly plan. Being prepared financially can go along way to reducing stress and allowing you to enjoy the new life that you are bringing into the world. To help you get started, below are six financial to-do's that new parents should consider.
When you’re deciding on a financial advisor to guide you on decisions regarding retirement, investments, life insurance, estate planning and the like, you should have a lot of questions prepared. One of the most important questions to ask is whether the advisor is a fiduciary. You might assume that a financial advisor always has the best interests of the client at heart. That, unfortunately, is not always true, and it is at the heart of the fiduciary rule.
When it comes to preparing your taxes, the idea of tax credits and tax deductions can be music to any taxpayer’s ears. That’s because both are used to lower the amount of taxes someone owes to the government. While they’re both worth getting excited over, it’s important to understand the fundamental difference between these two terms.
As our parents age, they become more susceptible to ailments and diseases that can impair both their cognitive abilities and motor function. As everyday activities become harder for aging parents, their financial stability can begin to waver. In fact, beginning at age 60, studies have shown that people may begin experiencing a decrease in their financial literacy score by one point per year.1 Whether your parents are displaying signs of impairment or you’re worried they simply can’t keep up with their finances any longer, we have six signs below that could help you determine whether or not it’s time to step in.
Medicare’s open enrollment period happens once a year between October 15 and December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. This can be a useful option for those who may have recently changed medication, underutilized their current coverage or found they could use additional benefits.