As August 2 approaches, you'll likely hear increasingly urgent debate over the nation's debt ceiling. That's the approximate date by which the Treasury estimates it will no longer be able to borrow under the current $14.3 trillion limit. Treasury officials have warned that if the Treasury can no longer borrow money, the U.S. might default on its existing obligations--in other words, be unable to make payments it already owes, whether those be for Treasury securities or government programs.
When dealing with a volatile market, sometimes the most difficult challenge is to manage your emotions. If you decide you need to re-examine your game plan, it should be done with as much care as you put into developing that plan in the first place. Your financial professional may be able to help you decide if any of the following may be appropriate for you.
The simple answer to that question is, probably you. Often people who most need financial advice do not realize it until it is too late.
Just like going to the doctor for an annual physical, a “financial check-up” can prevent future disaster.
As any doctor would say, an ounce of prevention is worth a pound of cure. Having a plan in place to prepare for retirement and future spending needs greatly increases one’s chances of success. For some people, the prospect of hiring somebody else to put that plan together or make decisions to ensure that plan is executed can be disconcerting. Perhaps you have been religiously watching Jim Cramer and are confident that you can do this whole investing and preparing for retirement thing alone. Or maybe you heard Oprah say that financial advisors are crooks. With so much conflicting information, it comes as no surprise that people are hesitant to seek advice.
Three years ago, on March 23, 2010, President Obama signed the Affordable Care Act (ACA) into law. While several substantial provisions don't take effect until 2014, many of the Act's requirements already have been implemented, including:
The Consumer Financial Protection Bureau (CFPB) has found itself at the center of recent political controversy in Washington. As a result, many Americans may find themselves wondering more about this federal agency and what its role may be in protecting consumers.
Every year, the Trustees of the Social Security and Medicare Trust Funds release reports to Congress on the current financial condition and projected financial outlook of these programs. This year's reports, released on May 31, 2013, show that both programs face urgent financial challenges that should be addressed as soon as possible.
According to a well-known gauge of the U.S. housing market, home prices have been on an upswing. The latest S&P/Case-Shiller 20-City Composite Home Price Index, which was released in May, posted its biggest gain in seven years. This improvement has spurred renewed optimism about housing's role in the country's economic recovery.
Beginning in 2014, the mandatory health insurance coverage provisions of the Patient Protection and Affordable Care Act (ACA) go into effect. But the law does not require everyone to have health insurance, nor are all of the coverage requirements applicable to all types of health insurance.