While much of the local and national talk around pension reform is directed at public employees, the biggest current changes are occurring in the private sector.
Several years ago, I wrote in these pages about my enthusiasm for the Buy Local campaigns popping up in communities from coast to coast. Cities like Portland and Philadelphia were building support and sales for their hometown businesses and especially for local retail and service firms.
The ponderously named Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act, signed into law last December by President Barack Obama, brought good news to generous millionaires — and the larger population of nonmillionaires in this country — who have giving on their minds.
Blair Sapeta isn’t setting aside money for her retirement. She’s just 31 years old and has more immediate financial concerns.
Lesli Pletcher’s parents were not extravagantly wealthy by any stretch of the imagination. However, true to form of a couple raised during the Great Depression, they were frugal and financially cautious so that, by the end of their lives, they had amassed a substantial estate capable of easily sustaining Pletcher’s father in his $9,000-a-month Alzheimer’s care facility.
It should be the perfect prescription for an ailing housing market, but so far few buyers are taking it.
About 35 percent of the 25 million people in the United States aged 71 or older have mild cognitive impairment or dementia, according to a 2008 Duke University study.
Nearly 800,000 Americans have a new or recurrent stroke each year, making it the leading cause of disability in the U.S. What’s more, health problems are a principle driver for mortgage foreclosures and personal bankruptcies, leading to billions in financial impact.
As the economy continues to struggle, finance and banking lawyers across the country are seeing an increase in commercial loan workouts, which range from simple loan modifications to complicated bankruptcies.
Last November, San Francisco Federal Reserve Bank President Janet Yellen gave a speech on the national economy and put the prospects for the commercial real estate market in stark perspective.
Imagine for a moment that financial advisers and wealth managers were paid based on their performance. What if they couldn’t make money unless they made money for their clients?
Rick Bishop is a resolution rebel, and a successful one at that.
Asset-based lending can be more expensive than a bank loan or line of credit, but for some it may be the best choice, providing flexibility and cash flow when others won’t.
It’s the meeting no business owner wants, an adult equivalent to sitting in the principal’s office.
Only instead of a principal, the person calling you in is a banker. And instead of the dreaded “permanent record,” the folder on the desk is an agreement for a business loan, a line of credit, equipment financing or some other form of borrowed money that helps keep the company afloat.
Asset values are down, interest rates are down, and industry experts doubt the Obama administration will allow the current estate tax exemption to expire in 2010. That combination makes a ripe environment for creating or adjusting an estate plan, and financial advisers say acting now could save thousands — if not millions — of dollars later.