Negotiating for a major purchase, such as a new car or home, is often a source of anxiety. We want our hard earned (and saved) money well spent and to get the most value for every dollar. It is important to be knowledgeable about what we are buying (for example, knowing the gas mileage of a new car). It’s also important to be prepared for the negotiation process ahead. Taking time to ready ourselves can help make our purchasing experience more positive andRead More
Savant offers perspective on a variety of topics. Entries range from current events to timeless insights in the world of finance and investments.
Income tax rates in Illinois increased effective July 1, 2017. Because this decision came in the middle of 2017, it created some confusion regarding how to calculate 2017 taxes and how it affects estimated tax payments.
The income tax change affects individuals as well as corporations residing in the state of Illinois. For individuals, trusts, and estates, state income tax will increase from 3.75% to 4.95%. For corporations (excluding S corporations), state income tax will increase from 5.25% to 7%. TheRead More
Fiduciary: a legal term that has always been near and dear to us at Savant, a word that has long been toxic to brokerages and traditional investment firms, and a concept generally not understood by consumers at large.
In layman’s terms, a fiduciary is someone who is legally and morally bound to stand in your shoes, look through your eyes, and advise you and your family on important financial decisions in the same way he would make them for himself orRead More
One of the top concerns for Americans in their 60s is how to pay for retirement. Consider focusing on a plan for these five areas of financial planning to help gain confidence as you approach or enter retirement. Interestingly, many individuals’ first anxiety is loss of principal – particularly with 2008 still in our collective rearview mirrors. However, given that retirement may last 30 years or longer, workers approaching retirement need to be just as focused on loss of purchasingRead More
Young adulthood often marks the passage of several major life events including beginning a career, getting married, starting a family, and buying a first home. As young adults ourselves, my husband and I welcomed our first child, moved states for a new career, and bought our first home, all in the past year.
While settling into being first-time parents and exploring our new neighborhood, another important item lingered on our to-do list: ensuring our son would be taken care of, ifRead More