The Snowbird Lifestyle and Its Insurance Implications The term “snowbird” generally refers to retirees or semi-retirees who spend part of the year in a northern state and migrate to a southern state during the winter. While this lifestyle provides a pleasant break from cold temperatures, it also creates complexities regarding your residency status, taxes, and especially insurance. Each state has…
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Peace of mind in retirement is largely the result of how well you’ve done in planning for that stage of life. Planning for retirement is a complex process that requires careful consideration of multiple factors. Mistakes made during this period can significantly impact one's quality of life during retirement. Fortunately, many retirement planning mistakes can be avoided by seeking and…
Charleston, South Carolina, is a beautiful coastal city but is also prone to flooding due to its low elevation and proximity to the Atlantic Ocean. The city has experienced a number of flooding events that have had devastating financial impacts on the community. For example: Hurricane Hugo made landfall near Charleston on September 21, 1989 as one of the most…
People purchase life insurance for a variety of personal and financial reasons, primarily to ensure the financial security of their loved ones. It can: Replace lost income when a primary earner dies, helping the family maintain its standard of living Fund future expenses such as childcare, schooling, and college tuition Pay off outstanding mortgages to ensure the family can stay…
Cyber threat trends predicted for 2025 indicate an increasingly complex and challenging landscape for individuals, organizations, and governments. Here are some of the key trends anticipated in the year to come: Cybercriminals are expected to leverage AI and machine learning to automate attacks, making them faster and more difficult to detect. Enhanced phishing schemes will increasingly use AI to craft…
It’s not unusual for small business owners to underestimate their vulnerability to cyberattacks and what they stand to lose if they become the victim of one. It’s tempting to think that cybercriminals target only larger businesses. It’s also dangerous. Cybercriminals often target small businesses because they believe they’re easier to victimize than larger companies. And in many cases, they’re right,…
Home insurance is all about managing risk—specifically the risk of a residential property being damaged or destroyed. For most people, their home is their most valuable asset. If that home is not owned outright, a bank or other mortgage lender has a financial investment in it as well. So, it’s no wonder that purchasing home insurance is a prerequisite for…
Budgeting can help you achieve your goals faster. Once you realize that budgeting can help you achieve the goals you’ve set out for yourself, you may find the process inspiring. Think of your budget as a spending plan Think of your budget as your “how-to” plan for spending your money rather than what you “can’t” spend. The upside is that…
The Federal Reserve “Part of the mission given to the Federal Reserve by Congress is to keep prices stable–that is, to keep prices from rising or falling too quickly. The Federal Reserve sees a rate of inflation of 2 percent per year–as measured by a particular price index, called the price index for personal consumption expenditures–as the right amount of…
What the latest round of funding may mean for you. The $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump on December 28th as the COVID-19 pandemic continues to impact employers and employees. The new package resembles March’s $2.2 trillion CARES Act, but will only be $920 billion, with roughly half of…
