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Recent posts by NAIFA
2 min read
How Millennials Can Plan for the Future with a Financial Advisor
The millennial generation has grown up in an era dominated by rapid changes in the economy. In recent decades, the responsibility of saving and investing has been largely delegated to individuals, as opposed to previous generations where this was mainly the role of governments and employers. Improved standards of living have also translated to increased life expectancies among millennials. The implication of this is that young people today have to make sound financial decisions to achieve financial security in retirement.
Topics: Retirement Planning Financial Planning Planning in Advance Retirement Legacy Planning Tools Financial Literacy Retirement Plans Financial Security
1 min read
How Can I Help My Parents Figure Out Medicare Coverage?
When considering applying for Medicare, you need to know what your options are. The Improving Medicare Coverage Act has made distinct changes to the lives of Americans, leading to improved health benefits. Many Americans over the age of 60 live with little or no medical insurance, making it difficult for them to have access to proper medical care.
There are several groups of people who are eligible for the Medicare program. The program caters to persons aged 65 and above, young people with some disabilities, and persons suffering from end-stage renal failure. Elderly persons above the age of 65 can receive Medicare under two different plans: Part A (hospital insurance) and Part B (Medicare insurance).
Topics: Financial Planning Medicare
2 min read
How to Detect Financial Exploitation of the Elderly
The elderly in our communities are all prone to getting scammed at some point. Many perpetrators of such exploitations take advantage of the fact that seniors are old, and hence an easy target. A number of these con artists use technology to serve their purposes since most elderly people are not tech-savvy. They may use calls and emails or pose as salesmen to achieve their goal of getting financial access to the unknowing elderly person.
The risk is imminent, and we have to remain vigilant to protect our elders from these vile perpetrators. To that end, we have come up with 4 red flags that you should look into when you suspect foul play.
2 min read
4 Ways Inflation Affects You
Inflation is the increase in the prices of goods and services over time. The current inflation rate is 8.6%. When the inflation rate is high, you'll spend more money on buying goods and services. Therefore, inflation leads to an increase in the cost of living.
Higher interest rates can mean more money in your savings, but it can also have a dramatic impact on your cost of living. Keep reading to learn the basics of inflation and how it affects you.
Topics: Lifestyle Planning Budgeting
2 min read
An Introduction to Annuities: How They Work and Their Pros and Cons
What is an annuity?
An annuity is a financial product that provides regular and guaranteed payments to an individual, typically for a period of time after retirement. Annuities are often used as a retirement planning tool, as they can provide a guaranteed stream of income for life. This can be especially helpful for those worried about outliving their savings.
Topics: Retirement Planning Life Insurance & Annuities Financial Planning Planning in Advance
2 min read
3 Essentials for Saving During Your First Job
You are starting your career, and you know you should save some of your income. Here are some essentials to saving and helping secure your future.
Topics: Emergency Savings Savings Budgeting
1 min read
3 Benefits of a Career in Financial Services
A career in financial services may seem like a daunting venture, but there are many benefits to working at a large corporation. This article explores how a finance career can help you build your future and chart your course for success.
Networking opportunities
The financial services industry is growing, highly innovative, and competitive. Capitalizing on opportunities and adding value to clients are the hallmarks of success in the financial services business. And network professionals are essential in this endeavor. They can help you gain access to the right contacts, improve your image and reputation among senior executives, and get a lot of exposure for your company and your brand.
2 min read
Finances for Your Aging Parents: What to Expect and How to Prepare
Finances for Your Aging Parents: What to Expect and How to Prepare
It's not always easy to think about your parents getting older and more dependent on you. When it comes to their finances, what do you need to know? What are the most important things for aging parents to consider when it comes to their finances?
This article will cover what you need to know about planning for your elderly parent's financial needs in retirement so that they can maintain some level of independence.
Topics: Retirement Planning Financial Planning Planning in Advance Medicare Limited Care Financial Literacy
1 min read
Becoming an Independent Contractor: Pros & Cons
Due to shifts in the job market, it's now easier than ever to become an independent contractor in almost any field. Not just for plumbers and builders, even wait staff can become independent contractors if they know how to obtain gigs and promote their services online. Let's take a good look at the pros and cons of becoming an independent contractor.
