Beware the Silent Thief: Understanding and Combating Lifestyle Creep
Financial planners often celebrate your successes – promotions, salary increases, and the achievement of financial milestones. However, with these positive developments, there's a subtle but powerful phenomenon we need to discuss: lifestyle creep.
Lifestyle creep, also known as "lifestyle inflation," is the tendency to increase your spending as your income rises. It's the subtle, often unconscious, upward shift in your living standards and expenses that accompanies an increase in your disposable income. While a natural inclination, if left unchecked, lifestyle creep can silently undermine your financial progress and make it challenging to achieve your long-term goals.
Unlocking Philanthropy: A Look at Donor-Advised Funds
In the world of charitable giving, many individuals and families seek ways to maximize their philanthropic impact while also enjoying tax benefits and simplifying their giving process. One increasingly popular tool that helps achieve these goals is the Donor-Advised Fund (DAF).
Navigating Your Portfolio: How Asset Allocation Impacts Risk and Return
In the journey of financial growth, one of the most fundamental decisions you'll make isn't about which individual stocks to buy, but rather how to divide your investments across different asset classes. This strategic decision is known as asset allocation, and it's a cornerstone of successful long-term investing, directly influencing both the risk you take and the potential returns you can achieve.
New Film Shows How Service Dogs Empower Children With Autism
A new documentary, “Unleashing Hope,” highlights the positive impact of service dogs on children with autism, showcasing how these dogs help reduce anxiety, improve social engagement, and provide emotional support.
Guide Dogs of America | Tender Loving Canines offers autism service dogs to families free of charge, significantly improving the quality of life for children with autism and their families, as seen in the experiences of families like Rosie O’Donnell’s.
Shared Living Arrangements for Individuals With Disabilities
Shared living arrangements offer an alternative to institutional living, providing individuals with disabilities a sense of community integration, independence, and tailored support through living with roommates and arranged care.
The Benefits of Establishing a Special Needs Trust Early
Special Needs Trusts (SNTs) protect assets for individuals with disabilities while preserving eligibility for public benefits like SSI and Medicaid.
Establishing an SNT early allows for long-term financial planning, protects future benefits, and provides peace of mind for families.
Creating an SNT involves assessing needs, identifying funding sources, choosing trustees, working with professionals, and regularly reviewing and updating the trust.
Long-Term Care for a Special Needs Child: What to Ask
Making long-term care decisions for an adult child with disabilities involves balancing their preferences and needs, family circumstances, and financial constraints. Working with a special needs planner is crucial for navigating these complexities.
Young Investors: Roth or HSA?
For a young investor, both a Roth IRA and a Health Savings Account (HSA) offer significant tax advantages and can be powerful tools for building wealth. The "better" choice depends on your individual circumstances, particularly your health insurance situation and financial goals. Ideally, if you qualify, you should consider contributing to both.