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How to Choose Between a Tax Advisor or Financial Advisor
tax advisor vs financial advisor Taxes can be confusing and you might have questions about how to file or the best ways to minimize what you owe to the IRS. But who do you turn to for advice? A tax advisor may be an obvious choice but you might also consider asking your financial advisor for tax tips. Understanding the differences between a tax advisor and a financial advisor can make it easier to get the help you need. What Is a Tax Advisor? A tax advisor is someone who is licensed to prepare tax returns and most often holds a professional designation in a tax-related area. For example, a…
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Millennials Face Challenging Financial Issues. Here’s What The Experts Have to Say to Them
financial planning for millennials Millennials — generally defined as adults born between 1981 and 1996 — face some unique challenges when it comes to financial planning. While the oldest millennials are entering midlife and potentially their peak earning years, the youngest may just be getting settled into their careers. As a result, financial planning for millennials can span a wide variety of needs, goals and solutions. For more help with financial planning, consider working with a financial advisor. Why Is Financial Planning Important for Millennials? Generally, it’s easier to manage money and reach your goals when you have a strategy in place. Millennials can benefit from financial planning to make…
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Commonwealth finance ministers demand systemic changes to world financial architecture
Commonwealth finance ministers call for systemic reform of global financial architecture Finance ministers from various Commonwealth countries have called for a systemic reform of the global financial architecture to enhance access to development financing for vulnerable countries. Their collective call for reform came at the Commonwealth Finance Ministers High-Level Working Group Meeting in Washington D.C. on 14 April 2023. At the inaugural Commonwealth Finance Ministers High-Level Working Group Meeting held on the margins of the 2023 World Bank Group and International Monetary Fund (IMF) Spring Meetings, finance ministers discussed national fiscal policies, measures for financial sustainability, eligibility criteria for development finance and potential reforms required for a more equitable financial…
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What does a financial advisor do?
Hero Images Inc/Getty Images Most people are aware of financial advisors and may even hire one at some point in their lives, but what exactly do financial advisors do? Financial advisors provide advice and guidance on a variety of financial issues you’ll encounter over the course of your life such as investments, retirement planning, insurance and even taxes. Here’s what else you should know about financial advisors including the advantages and disadvantages of using one and when you should consider hiring one. What is a financial advisor? A financial advisor is someone who helps you manage various aspects of your financial life. People most often associate financial advisors with planning…
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This is the ‘best defense’ against inflation, says financial advisor
Catherine Mcqueen | Moment | Getty Images Inflation is gradually falling but remains high, meaning consumers’ budgets continue to be stressed by fast-rising prices. For some, that might mean making tough financial tradeoffs — an exercise that starts by coming to terms with the situation and making an honest assessment of your needs, said Lazetta Rainey Braxton, a certified financial planner and co-CEO of virtual planning firm 2050 Wealth Partners. “The best defense against inflation is being true to knowing your necessities and accepting the fact that [prices have] increased,” said Braxton, a member of CNBC’s Financial Advisor Council. More from Ask an Advisor Here are more FA Council perspectives…
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Money stress? Check your financial literacy.
Comment on this storyComment You are reading our weekly Well+Being newsletter. Sign up here to get it delivered to your inbox every Thursday. Few topics are as stressful as money, and there’s nothing like tax season to amplify financial anxiety. The problem with money stress is that it creates a negative cycle. Research suggests that people who are anxious about money are less likely to plan for retirement, which in turn can increase anxiety about their financial future. About 41 percent of U.S. adults reported feeling both anxiety and stress when thinking about or discussing their personal finances, according to data from the 2018 Finra National Financial Capability Study. The…
/cloudfront-us-east-2.images.arcpublishing.com/reuters/JBZ2QI55P5M47LZ3YEUPRKEE4I.jpg "Yellen pushes for ‘bold action,’ more reforms at World Bank this year")
