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Financial Management: Definition, Examples and Purpose
Financial management involves planning, organizing and controlling an organization’s financial activities. Effective financial management helps businesses achieve their goals, optimize profits and maintain sustainability. Financial management professionals engage in budgeting, forecasting, investment analysis and financial reporting – each serving the purpose of guiding a company’s financial decisions and strategies. Through comprehensive financial management, businesses can […] The post Financial Management: Definition, Examples and Purpose appeared first on SmartReads by SmartAsset.
My Dad Passed Away. How Can I Access His Retirement Funds?
When faced with the death of a parent, many find themselves asking whether they can claim their parent’s retirement funds. Accessing your father’s retirement funds can depend on various factors such as the type of retirement account he held and whether you are a named beneficiary. Typically, accounts like IRAs or 401(k)s allow for beneficiary […] The post My Dad Passed Away. How Can I Access His Retirement Funds? appeared first on SmartReads by SmartAsset.
What Is the Formula for Variable Expense Ratio?
The variable expense ratio is a financial metric that helps businesses understand the relationship between their variable costs and sales revenue. By dividing total variable expenses by total sales, this ratio reveals the proportion of revenue consumed by costs that fluctuate with production levels or sales volume. This insight helps companies make informed decisions about […] The post What Is the Formula for Variable Expense Ratio? appeared first on SmartReads by SmartAsset.
How to Manage Passive Income as a Restaurant Owner
Managing passive income as a restaurant owner can enhance your financial stability and help you grow your business. If your restaurant is not yet generating passive income, you can try implementing strategies that can generate revenue for your business without active day-to-day involvement. Then, once you have passive income, you can manage it to build […] The post How to Manage Passive Income as a Restaurant Owner appeared first on SmartReads by SmartAsset.
Health Insurance Options for Retirees Younger Than 65
Retirees under age 65 face a unique challenge: As they don’t yet qualify for Medicare, they’ll need to secure some other form of health insurance coverage. From employer-sponsored plans to individual marketplace policies, there are many options available. Here’s what you need to know. A financial advisor can help you create a retirement plan that […] The post Health Insurance Options for Retirees Younger Than 65 appeared first on SmartReads by SmartAsset.
I'm Getting Ready to Downsize. Should I Sell My Home and Just Rent?
Over the past generation, many Americans have changed their attitudes toward renting. In the past, renting was seen as a developmental stage. You rent until you grow up enough, financially and emotionally, to buy a home. That perception has shifted. Even as far back as 2013, HUD published research noting that "the overall appeal of […] The post I’m Getting Ready to Downsize. Should I Sell My Home and Just Rent? appeared first on SmartReads by SmartAsset.
How to Stay Socially Active as a Retiree
Retirement can be an exciting new chapter, offering ample opportunities to stay socially active. Engaging in community activities, joining clubs and pursuing hobbies can significantly enhance your social life. Whether it’s volunteering, participating in fitness classes or attending local events, finding ways to stay socially active in retirement is important for maintaining a fulfilling and […] The post How to Stay Socially Active as a Retiree appeared first on SmartReads by SmartAsset.
Does Workers' Compensation Affect Social Security Benefits?
Workers’ compensation, which provides financial support for employees injured on the job, can impact the amount you receive from Social Security. Specifically, if you’re receiving workers’ comp, your Social Security Disability Insurance (SSDI) benefits might be reduced to prevent your combined income from exceeding certain limits. This interaction is designed to balance the benefits you […] The post Does Workers’ Compensation Affect Social Security Benefits? appeared first on SmartReads by SmartAsset.
How to Check the Value of Your U.S. Savings Bonds
Checking the value of your U.S. savings bonds is straightforward and can be done online through the TreasuryDirect website. Once logged into the portal, you’ll either automatically see the value of your bond or you’ll need to enter its series, denomination and issue date. This process allows you to keep track of your investments and […] The post How to Check the Value of Your U.S. Savings Bonds appeared first on SmartReads by SmartAsset.
How to Become a Financial Manager
Becoming a financial manager involves a combination of education, experience and strategic career moves. Aspiring financial managers typically start with a bachelor’s degree in finance, accounting, economics or a related field. Gaining practical experience through internships or entry-level positions in financial institutions is also important. Advanced qualifications, such as a master’s degree or professional certifications […] The post How to Become a Financial Manager appeared first on SmartReads by SmartAsset.
What Are Preferred Dividends?
Preferred dividends are payments made to holders of preferred stock, a type of equity that combines features of both stocks and bonds. These dividends are typically fixed and paid out regularly, often on a quarterly basis. Unlike common stock dividends, preferred dividends must be paid before any dividends are issued to common stockholders, making them […] The post What Are Preferred Dividends? appeared first on SmartReads by SmartAsset.
How a TSP Hardship Withdrawal Works
A thrift savings plan (TSP) hardship withdrawal allows federal employees and members of the uniformed services to access their retirement funds in times of severe financial need. To qualify, individuals must demonstrate significant and immediate financial hardship, such as medical expenses or losses due to a natural disaster. Unlike loans, these withdrawals cannot be repaid, […] The post How a TSP Hardship Withdrawal Works appeared first on SmartReads by SmartAsset.
D
Differences Between Management Fees and Expense Ratios When considering investment costs, the distinction between a management fee vs. expense ratio is important to comprehend. While these terms are sometimes used interchangeably, they refer to distinct components of the costs associated with managing and operating investment funds. The management fee is a charge paid to the […] The post D appeared first on SmartReads by SmartAsset.
How Much Does It Cost to Start an LLC?
Setting up a business as a limited liability company (LLC) can protect personal assets and shield entrepreneurs from business debts, while providing more flexibility than forming a corporation. Creating an LLC also costs significantly less. A do-it-yourself LLC can be formed for less than $100 in some states, although the final tally can be several […] The post How Much Does It Cost to Start an LLC? appeared first on SmartReads by SmartAsset.
Personal Investing Books Everyone Should Consider
There are many ways to learn about investing, but there's often no substitute for good advice. And a good book on finance and investing is a great place to start. Here are six books for personal investing to start you down the path. Once you have a handle on investing and how you want to […] The post Personal Investing Books Everyone Should Consider appeared first on SmartReads by SmartAsset.
What Is Personalized Investment Management?
Personalized investment management involves building a portfolio that is tailored to your needs. With this approach to investing, you or your financial advisor create a plan and portfolio based on specific goals, options and preferences. It varies from a systematic approach, in which your advisor would help you invest in a series of assets defined […] The post What Is Personalized Investment Management? appeared first on SmartReads by SmartAsset.
What Will My Portfolio Be Worth in 10 Years?
Every investor wants to know where their money is going. The point of investing is for your money to grow. Sometimes, you're trying to achieve a specific goal, such as to retire, buy a home, or take a big trip. Other times you just want to put your money somewhere more fruitful than a savings […] The post What Will My Portfolio Be Worth in 10 Years? appeared first on SmartReads by SmartAsset.
Ask an Advisor: I'm Already Retired But I've Been Converting $10k at a Time From My 401(k) to an IRA. Is This Wise?
I retired in 2022 at 62 years old. I have a $2,900 monthly pension and draw $1,900 per month in Social Security. I have $520,000 in my 401(k) and $24,000 in an IRA. I currently move $10,000 from my 401(k) to my IRA every time it increases $10,000 in value. Is it wise to do […] The post Ask an Advisor: I'm Already Retired But I've Been Converting $10k at a Time From My 401(k) to an IRA. Is This Wise? appeared first on SmartReads by SmartAsset.
We're 62 With $1.1 Million in 401(k)s. Should We Convert $100,000 Per Year to Avoid RMDs?
Converting 401(k) funds into Roth accounts can reduce or eliminate the need to take Required Minimum Distributions (RMDs) that can bump you into a higher tax bracket in retirement. Voluntary Roth withdrawals, meanwhile, are tax-free, potentially giving the conversion strategy twice the appeal. Converting 401(k) funds gradually, before you’re required to take RMDs at age […] The post We’re 62 With $1.1 Million in 401(k)s. Should We Convert $100,000 Per Year to Avoid RMDs? appeared first on SmartReads by SmartAsset.
I Will Claim a $3,750 Social Security Benefit. Will My Wife Automatically Get a Spousal Benefit?
If your wife is eligible to collect a spousal benefit, whether or not it is paid automatically can depend on when each of you claims benefits. If your wife claims benefits on her own employment history after you are already getting Social Security payments, Social Security will determine whether a spousal benefit or a benefit […] The post I Will Claim a $3,750 Social Security Benefit. Will My Wife Automatically Get a Spousal Benefit? appeared first on SmartReads by SmartAsset.
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