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If you’ve seen movies involving characters who are beneficiaries of a will, they often immediately receive their inheritance to keep the storyline moving. Movies usually skip the court system and quickly provide the characters with the assets.   Of course, people who receive an inheritance in real life might wait months or years to obtain the assets left to them. Understanding how the beneficiary of a will receives an inheritance can help create realistic expectations if you

If you are changing jobs or nearing retirement, understanding your options for your 401(k) account is essential. Controlling where your money is provides peace of mind.   Whether you withdraw your money or roll it into another retirement account impacts your financial goals and tax obligations. The following information can help guide your decision.   Option 1: Cash Out Your 401(k) Account Cashing out your 401(k) account typically is not recommended: You can ask your former e

Before training to become a financial coach, I knew little about how money worked. Now, I have a more comprehensive understanding of how to earn, save, invest, and spend my income. I make educated financial decisions, resulting in additional savings and retirement investments.   Understanding the basics of personal finance provides many benefits. Managing your spending plan, saving for emergencies, and investing for retirement lead to long-term financial stability, security,

Your monthly mortgage payment is likely your biggest expense. Therefore, you might want to lower your payment to free up funds to meet...

Like most employees, you might have a 401(k) account through your employer. This retirement plan helps you save money for your later...

Financial stability is important for everyone. Having adequate income to cover expenses, save for emergencies, and invest for future...

Purchasing a home is one of the biggest financial decisions you can make. Therefore, determining how much you can afford to pay each...

If you’re an employee of a nonprofit organization, you might be able to participate in a 403(b) plan. This employer-sponsored,...

I co-owned my first home when I got married in my 20s. We both had high credit scores and were fortunate to secure a low interest rate on...

When I worked as a licensed financial coach, many of my clients purchased annuities to provide income during retirement. The investments...

When transitioning from working as a licensed financial coach to building a freelance writing business, I taught myself to write grant...

Depending on where you’re at in your financial journey, you might need life insurance. Personally, I have a life insurance policy to...

During my time as a licensed financial coach, I started my freelance writing business. I taught myself to write grant proposals,...

Asking questions is essential as a beginner investor. Understanding what you are investing in, its relevance to your goals, and the...

I didn’t really understand how money worked until I started training as a financial coach. My then-husband and I had substantial debt and...

During my time as a licensed financial coach, I educated clients on the responsible use of credit. Knowing how credit works helped my...

My former husband and I were deeply in debt during our marriage. We had three condos with mortgages, two car payments, and significant...

I opened an Individual Retirement Account (IRA) in my 20s. Saving for retirement as early as possible is important for financial...

I taught myself to write grant proposals early in my freelance writing career. I volunteered to write proposals for a year to gain...

Understanding the withdrawal rules for an Individual Retirement Account (IRA) can be challenging. The requirements differ based on your...