Life insurance has existed for nearly two centuries as essential planning tool that protects dependents from the risk of a breadwinner’s untimely death. However, given the unique investment properties of life insurance, financial planners are finding a number of ways it can be used in other ways to enhance portfolio returns while reducing risk.

For some people, getting an auto insurance quote is a lot like spinning a roulette wheel; you don’t know what will come up, and each time you spin it (getting quotes from different companies) it’s always different. Worse, there doesn’t seem to be any rhyme or reason for the quote.

Three Ways to Lower Your Insurance Costs This Year

by Steven Herrington on

If you haven’t reviewed your insurance coverage in a while, you might be surprised with how many ways you can save costs. Here are three tips for lowering your insurance costs while improving your coverage in the coming year.

Habits of a Savvy Saving Family

by Steven Herrington on

When people warn you that having kids is expensive, it’s no joke. From diapers to food, braces to sports activities the costs add up quick. For a middle-income family in the U.S. raising a child up until age 18, costs an estimated average of $245,340 (or $304,480, adjusted for projected inflation), according to the 2013 “Cost of Raising a Child” report from the U.S.

Imagine the following scenario: You run a successful business with your business partner of 20 years. Your business partner dies unexpectedly. After the funeral, your deceased partner’s spouse shows up at your office with her two grown children. They ask for the key to your partner’s office – not to clean it out, but to move in.

Investment to Watch: Smart Home Technology

by Steven Herrington on

The term “smart home” sounds like something out of a movie on Syfy or a place where intelligent people go to converge. Yet, the concept isn’t new by any means. John Chambers, CEO of Cisco, referenced the concept at the Consumer Electronics Show in 1999.

Because there isn’t a one-size-fits-all plan that could possibly fit the unique needs of every family, risk management is a process that focuses on the problem of risk at every level of a family’s lifestyle in order to ultimately arrive at a solution for each. Each risk calls for separate measures, which usually require separate forms of insurance.

Is a Reverse Mortgage Right for You?

by Steven Herrington on

In recent years, reverse mortgages have been enthusiastically marketed to homeowners ages 62 and over. Optimally designed for homeowners with at least 50 percent equity in their home, reverse mortgages allow homeowners to tap into that equity, providing them with a regular monthly payment – the...

Art as an Investment

by Steven Herrington on

Are you an investor looking to diversify your investments, or perhaps you’re a new investor looking for something other than traditional stocks and bonds to invest in. No matter what your situation, investing in art can prove to be lucrative, if you do your research. While novice art investors can...

Investing 101

by Steven Herrington on

If you’re new to investing, some of the information on the Internet can be downright confusing. While investing itself is fairly straightforward, many people find themselves shying away from the entire process because they simply don’t understand the terminology, which can be somewhat overwhelming....

Suggestions for Long-Term Financial Health

by Steven Herrington on

Sometimes simple is best. Many of us tend to complicate our financial situation; overthinking our options while ignoring the basics.

But like anything else, the simplest rules are often the most important ones; and the ones most likely to be ignored. How many of these rules do you follow?

  • ALWAYS...

AICPA Highlights 6 Recent Personal Finance Trends

by Steven Herrington on

The American Institute of CPA’s (AICPA) recently published a list of personal finance trends that we should all be concerned about. These trends highlight the fact that almost 63 percent of Americans today are unable to pass a basic financial literacy test.

Here are the troubling trends, as well as...