July 2019

Divorce has a negative affect on most people's finances, and can be detrimental even to the most successful Americans. With divorce rates rising among those 50 and older in the United States, it's good to be informed just what damage can be caused if you and your partner decide to split up. 

Many small businesses open business credit cards to help meet their capital needs. Roughly 67% of business owners have business credit cards, but less than half of them use them as their primary spending source.

According to a recent article by ThinkAdvisor, many parents and grandparents in the U.S. provide financial assistance to dependents for purchasing property. Many say they have burdened by it, with some having to delay their retirement.

Don’t Mix the Personal and the Business; Keeping Finances Separate

According to a recent article by Financial Advisor magazine, the average U.S. couple will pay $387k in medical costs after they retire at 65. They will even pay more if they are healthy. Something to think about when saving and investing for retirement.

If you are lucky enough to be able to invest more after maxing out your 401(k) contributions, you have many options to expand your portfolio. In this article, published by US News, many helpful tips are provided to continue to build your wealth and diversify your investment options:

The IRS has recently released a consumer alert regarding scam calls claiming they are SSA agents. In these calls, the scammers claim that the target may be under arrest or have their social security benefits revoked if they don't wire money or gift cards to the deceptors.

Many people believe 65 is the goal retirement age today. However, this shouldn't be the case, as 65 was determined to be the age to start receiving retirement benefits almost 85 years ago, when life expectancy was much shorter.

Travel and entertainment are legitimate deductions, but few business owners take full advantage of them. One reason may be that they fear that the deduction will be challenged by the IRS and they’ll have to undergo the scrutiny of an audit.

A recent study confirmed that over 16 million people were the victims of identity theft in the span of one year in America alone, which resulted in $16.8 billion in stolen money.