The Social Security system was created in 1935 to help provide economic security in old age. Since then, Social Security has expanded to provide other kinds of benefits. It now provides retirement, disability, and survivor benefits. For many people, Social Security will be an important source of retirement income.
People often think estate planning is only for the wealthy. Actually, just about everyone who owns property or has money needs an estate plan. Estate planning is more than deciding what happens to your property when you’re gone. It also includes the planning during your life that leads to creating and safeguarding assets like your retirement savings. Estate planning is an important part of protecting your financial security.
Tax day is right around the corner! For some of us, it’s the one time a year when we receive an unexpected windfall in the form of a large tax refund check. The top three things you should consider doing with your tax refund check are paying off debt, building an emergency fund and saving for retirement.
The first major stock market correction in over a year appears to be in the rear view mirror, but many investors are still nervous. Market commentators have decided to declare that “interest rates” were responsible for the initial drop in early February, and the President’s announcement on trade policy and tariffs was the reason for the second drop later in the month.
Legendary investor Warren Buffet, CEO of Berkshire Hathaway, released his annual letter to shareholders on Saturday. The annual letter from the “Oracle of Omaha” is widely read by financial advisors and individual investors alike. Investors have a very good reason to pay attention to Buffet’s comments. Buffet’s strategy of investing in individual stocks and paying fair prices for great companies has beaten the S&P500 index since 1964. This year’s letter has three lessons every investor should understand.