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All Women Need to Take Control of Their Financial Future

Published by Taylor Financial Group (for women)

Scary statistic alert: since the 1990s, the divorce rate has doubled for the 50-plus crowd. Moreover, according to a 2018 report, “Own Your Worth” by UBS Global Wealth Management, most married women (56%) leave major investing and financial planning decisions to their spouse. The result? By leaving major financial decisions to their spouses, many women are left vulnerable when separation or death strikes.

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Do You Know What a 529 Plan Is?

Published By Taylor Financial Group

Only 29% of Americans in a recent survey identified a 529 plan as an education savings tool. That means many people may be missing out on a great tax-free benefit. The survey results came from 1,004 interviews of U.S. adults conducted in April by ORC International’s CARAVAN Omnibus Services. Many factors, such as a respondent’s age, influenced her awareness of 529 plans. For example, 35% of Gen Xers correctly identified 529s, compared with only 27% of millennials.

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When to Start Teaching Your Kids About Money

Published by Taylor Financial Group (for women)

A recent report by RBC Wealth Management found that high-net-worth investors start their structural financial learning – instructions from family members, directions from advisors, or suggestions from financial literacy programs – at age 27. Read more

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Health is Wealth

Published by Taylor Financial Group

At the end of the day, we all strive to be healthy. I do my best to stay healthy by jogging, lifting weights, and eating foods that are good for my body. However, remaining healthy goes much deeper than this.And, since health care can become quite an expensive burden, it’s important to make every effort you can to stay as healthy as possible. Here are 5 tips to help you save on health care. After all, health is wealth, right? Read more

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Maximizing Your Social Security Makes a Big Difference

Published by Taylor Financial Group

How do you picture yourself spending your years in retirement? Travelling, gardening, or spending time with grandchildren? No matter how your retirement daydreams play out, you should know that maximizing your Social Security is critical to making the most of your retirement income! Read more

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5 Reasons It’s Important to Set Financial Goals

Published by Rob Furlong, Portfolio Manager

The alarm sounded promptly at 1a.m. Shortly after some rustling and grumbling the tent zippers opened and we stepped out into the frigid air. After a quick breakfast, we began heading uphill into the darkness. For the next eight hours life was little more than listening to the ice crunch with each step as we ascended over 5,000 feet into the thinning air. Shortly after 9a.m. we were at 14,200 feet-on top of one of the highest peaks in the Cascade mountain range. Read more

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2 Questions Widows Should Ask Themselves About Their Financial Advisors

Published by Taylor Financial Group (for women)

A shockingly high percentage of women (up to 70%) fire their financial advisor once they become widowed. Even more surprisingly, many of these women don’t plan on leaving their financial advisors while their husbands are still alive. However, upon becoming widowed, they reassess their client-advisor relationship and choose to leave. The main reason for this change? Many women aren’t feeling a connection with their financial advisors!

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Trump’s Trade Wars

Published by Taylor Financial Group

With all the confusion and uncertainty surrounding Trump’s trade war, it’s important to try to understand the situation. There have been many rapidly changing developments over the past few months, and it’s understandable that many people will not be well educated on the complex issue. Read more

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How to Avoid Four of Retirement’s Biggest Pitfalls – Create A Backup Plan – Week 4

Published by Taylor Financial Group (for women)

This is the last week, Week 4, of our weekly series on “How to Avoid 4 of Retirement’s Biggest Pitfalls.” In Week 1, we emphasized how every woman needs to calculate her retirement savings needs, or she risks not saving enough money and running out of money in retirement. In Week 2, we reminded you that women need to start saving their money sooner rather than later for retirement and highlighted the benefit of saving and investing early. In Week 3, we explained the positive impact participating in a 401(k) or similar retirement plan can have on your retirement savings. If you missed any of those posts, we highly encourage you to click on the links above to learn more about the tips and tricks to avoiding retirement’s biggest pitfalls. In Week 4, we  focus on having a backup plan.

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Do You Have a Financial Plan?

Published by Taylor Financial Group

They say if you fail to plan, you are planning to fail. Take the most obvious example, financial planning. Financial planning is not (and shouldn’t) be a one-time event, but rather an ongoing process. Read more