Recently, I worked with a client, who we’ll call Ozymandias. Ozymandias signed up for short-term disability insurance, purchasing the insurance policy through his employer. With each pay period, deductions were made from his paycheck, paying for the group disability policy. This sort of setup – paying for disability insurance through your employer – is available at some of the Big Four employers. But unlike the employee benefits that can be found at the Big Four, Ozymandias was opting to buy into a short term policy. (Both Deloitte and PwC offer the chance to buy into additional long -term disability coverage, but not short-term coverage.) [Read more…] about Do I Need Short-Term Disability Insurance?
Today’s post comes from a young practicing accountant. He asks:
Sir,Now that I will soon be married, do I need life insurance for my spouse and I?
As with all good financial planning questions, his question needs to be answered with another question:
Do you (or your spouse) depend on each other’s income?
If you answered “yes,” follow this simple formula to determine how much life term life insurance you need: [Read more…] about I’m Getting Married. Do I Need to Buy Life Insurance?
At Define Financial, we like to have one or two introductory meetings before bringing a new client onboard. These meetings give us a chance to determine if the firm is a good fit for the person seeking out financial planning advice. The meeting format usually opens with the prospective client explaining what their burning financial issues are. From there, we explain how our firm works – specifically that we are fee-only CERTIFIED FINANCIAL PLANNERTM professionals and pledged fiduciaries. [Read more…] about Fee-Only Fiduciary CFP® Professional
So you’re house hunting. Congratulations! Home ownership is an adventure – with many rewards and challenges along the way. But, before you step into acquiring 30 years of debt (i.e. getting a mortgage), you need to get these things settled first. Said another way:
Don’t even think about getting a mortgage before you get these two things!
In our last post, we talked about the fixed-rate mortgage: what it is, and how it works. Today, we’ll talk about an alternative to the fixed-rate mortgage: the adjustable-rate mortgage. We’ll also work to figure out if the the adjustable-rate mortgage is right for you. [Read more…] about Should I Refinance My Mortgage to a Floating Rate?
What is a Mortgage?
A mortgage is a loan. It enables you to acquire a home that you would otherwise not be able to afford. This home can be a condo, a house, a ranch, or even a houseboat. Getting a mortgage for your home is quite common; most Americans use a mortgage to acquire their home because of the large sticker price; folks normally do not have enough money to buy their home outright. [Read more…] about The Fixed-Rate Mortgage