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Defining, and working toward, financial independence


There might not be fireworks, but any day is a good one to celebrate financial independence even if you’re not quite there yet.
What is financial independence for you? For many people, it’s being able to live a good lifestyle without having to work for money. For those folks, they might still have a career because they love what they do and have control over how much they work. But their work is no longer about the money it’s about interesting activities and a sense of purpose.
There are several methods of assessing financial life cycles. The Alliance of Comprehensive Planners (www.acplanners.org) has one metric. This assessment says that when household net worth that’s assets minus debts is three to seven times the annual household income, the household is in rapid accumulation mode. This is generally a time when the individuals’ careers are at their peak. This financial stage is the precursor to financial independence. Generally, folks in the rapid accu ....

Linda Leitz , Alliance Of Comprehensive Planners , Public Employee Retirement Association , Comprehensive Planners , Social Security , Public Employee Retirement , Great Recession , லிண்டா லீட்ஸ் , கூட்டணி ஆஃப் விரிவான திட்டமிடுபவர்கள் , பொது ஊழியர் ஓய்வு சங்கம் , விரிவான திட்டமிடுபவர்கள் , சமூக பாதுகாப்பு , பொது ஊழியர் ஓய்வு , நன்று மந்தநிலை ,

How Fiduciary Duty Impacts Financial Advisors


KXLY
April 21, 2021 1:00 PM
Kat Tretina - Forbes Advisor
Posted:
Updated:
April 21, 2021 7:06 PM
Fiduciary duty is the requirement that certain professionals, like lawyers or financial advisors, work in the best financial interest of their clients. U.S. law dictates that members of certain professions who are doing business for certain clients be bound by fiduciary duty. Let’s take a closer look at fiduciary duty, what a fiduciary is, which professions commonly have fiduciary responsibilities and which types of financial advisors are actually fiduciaries.
What Is a Fiduciary?
A fiduciary is someone who manages property or money on behalf of someone else. When you become a fiduciary, the law requires you to manage the person’s assets for their benefit and not your own. ....

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