Financial Planning

Making a million dollars is actually very easy. It involves 3 simple steps: Make money, use the money you made to buy money producing assets, use money from your assets to buy more assets. If you...

Knowing one's personal net worth is important in planning a secure financial future and making sure that the right credit decisions are made. What exactly is net worth? Personal net worth is the...

William A.R. Burden, the great grandson of Cornelius Vanderbilt, saved the family fortune with a very simple, straightforward move. He started what he called the “family bank”. Now, over forty...

Unclaimed assets are accounts at banks and companies that have been inactive for a year or longer. Almost every state has its own unclaimed assets program that looks for owners of lost and/or...

When someone is involved in a legal dispute such as a bitter divorce, he or she may be motivated to hide his or her assets in order to shield them from a legal judgment. But if someone has a...

Are you looking to find out what you are worth? Here is a detailed instructions on how you can go about finding your net worth. You may be worth more than you think. Figuring out just how much you...

If you have avoided discussions of estate planning with your family, you are not alone. Making arrangements for the distribution of your assets upon your death can be an awkward or emotional...

Estate planning refers to the decisions you make and legally document that allow for the disposition of your assets when you die. In the event you become incapacitated and are unable to make...

After working hard all your life and hopefully accumulating enough wealth to provide for a comfortable income in retirement, you may feel that your work is done and you can enjoy your sunset...

Financial planning is the process of understanding what your financial goals are, what assets can be used to accomplish them, and what liabilities already have a claim on those assets. A...

If your estate is substantial, there are a number of reasons to set up a trust, including avoiding probate, providing for a minor, ensuring your estate is managed properly if you become unable to...

Asset under management is a financial market terminology used widely in the mutual fund and hedge fund establishments and others. Money managers in these sectors often receive investor money for...

Liquidation value is often referred to as fair market value. It is the value of an asset that is reflective of immediate sale. As a result, the value may be lower or higher than the real value. ...

Main areas of finance include how an individual views their liabilities, like bills and debt, as well as assets, like cash, investments and gold. Discover the meaning of liquid assets and net...

Calculating your net worth is a simple equation that involves adding assets like cash, investments and cars and subtracting them from liabilities like rent or utilities. Figure net worth by adding...

Revocable trusts can be changed at any time by the people who created them. Discover the benefits of revocable trusts and how they help solidify assets through tips from an experienced financial...

Many banks will put a lien on an asset or other additional assets in order to cover themselves in the event of nonpayment. Understand how banks can put a hold on assets, equipment and other things...

Living trusts are increasingly common tools used in estate and inheritance planning, for the purpose of sending maximum assets to heirs, tax free.

Probate is the legal process that distributes the property from a deceased person to living persons. Completing the process of probate can be costly, time consuming and stressful for the ones...

We all have goals we want to attain in life, but many of those goals will only be reached with diligent financial planning. You will only accomplish your goals if you know where you are...

A family trust is set up by a person or persons to pass on assets to family members. People set up family trusts when they are still alive or as part of a will. When you set up a trust, you...

When valuing a business, there are many approaches to take, including a market approach, a comparative approach and an approach in which assets are examined. Look at the market value of a business...

The primary duty of a financial planner is to look at the assets of their clients in order to act in the clients' best interests. Find out how a financial planner can help a person achieve their...

Intangible assets are assets that are hard to quantify, such as human capital and the knowledge within a company. Discover how intangible assets are needed, but why they have no monetary value...

Calculate return on assets by dividing the net income by the average total assets in order to generate returns for the shareholders. Learn how to calculate the return on equity ratio with...

Assets are classified as economic resources that can be current or non-current, while liabilities are classified as economic obligations. Determine the assets and liabilities of a company by...

The importance of having a will is clear. If you don’t specify how you want your assets distributed, you essentially give this power to the state or others. Further, having a will allows you to...

Consolidate financial statements by creating a balance sheet with all assets and liabilities. Consolidate financial information into one place using Internet software with help from a registered...

Individuals and families often seek out asset protection to reduce their expenses from taxes, aggressive debtors, lawsuit damage-seekers, divorce and more. In some cases, the attempts at asset...

Stockholder's equity is found on the financial statement called the balance sheet. It is one of the three sections of this statement and the other two are assets and liabilities. Stockholder's...

Bypass trusts allow estate owners to avoid estate taxes by placing part or all of the owner's assets into a trust. Bypass trusts are set up to bypass the Federal Estate Tax. Bypass trusts are...

A trust fund is a group of assets of some kind, usually money or property, that have been placed under the control of an administrator. This is often done in order to keep full control of the...

Typical trust funds dissolve once the heirs of the estate reach a certain age that is predetermined by the original trustees, or creators, of the trust fund. Usually, parents who are setting up a...

You don't have to be Donald Trump to consider using a financial planner. Even people with very few investments may want to seek out professional advice if they are not very knowledgeable about...

Financial Statements are used to find the financial health of a company or of an individual. There are two basic statements to be considered. The Net Worth Statement is simply Assets (anything...

A trust is a legal arrangement by which one person or group manages property for another. They have considerable flexibility in the types of assets they can manage and how those assets can be...

Despite the challenges we are facing in a tight economy, there are still ways to create lasting wealth. Read on to learn time tested methods that work.

A Limited Liability Company, also called a L.L.C., is a company that can be formed by one or more people. Most business types can form an L.L.C., but banks and insurance companies cannot. Check...

Divorce is never easy, but protecting your financial interests is an especially critical factor, as the division of property can be a rather complex matter. None of us wants to believe that our...

Financial planning is the formal process of creating a road map of financial goals while taking into consideration an individual or business's assets, liabilities and credit standing. Financial...

Financial advisors help an individual or a business by offering professional recommendations and planning services about monetary assets and investments. In exchange, these specialists of the...

A balance sheet is a document used in accounting that provides an overview of a company's financial picture. The balance sheet shows the company's assets, liabilities, and shareholder's equity. No...

A balance sheet shows the financial position of a company or individual as of a particular moment in time. This financial statement compares all monetary obligations and all property that is...

As someone who's taught accounting, economics, and finance, I'll show you how to put together a Balance Sheet. And I'll walk you through the entire process step-by-step in plain-English. So can...

Estate planning is not just about taxes. Usually, Americans pay only one half of one percent in federal estate taxes. Everyone needs an estate plan to make sure their assets go where they want...

It's no secret that college tuitions are skyrocketing. Here are some tips to help you pay for your child's college education without breaking the bank.

Knowing your financial situation by assessing your assets and liabilities helps to determine your future financial strategies, obligations and goals. Determine this financial snapshot by...

A balance sheet represents a summary of your assets and liabilities. In one glance, you can see how healthy or unhealthy your finances are. Creating a balance sheet isn't difficult. You don't need...

Calculating your net worth can be very easy, provided all of the necessary information is readily available. Doing this will help you when deciding whether to make major purchases.

A personal financial plan provides strategies for dealing with periods of personal hardship and helps develop a prudent economic agenda for you and/or your family.