Personal Finance

A&A

Survey Finds Friends Determine Millennials' Financial Habits

When it comes to determining their financial habits, a new survey suggests Millennials are still relying on the oldest network in the world to guide their decisions: their friends.
Education & Careers

North Carolina CPAs Help Families 'Make Cents' of Financial Future

This fall, CPAs from the North Carolina Association of CPAs will step up to help families in their state fill the financial literacy gap when the association hosts its fifth annual Making Cents: A Financial Literacy Program.
Education & Careers

KPMG Survey: Higher Education Leaders Worried about Enrollments

The percentage of higher education leaders who are "very concerned" about their ability to maintain current enrollment levels is on the rise, according to the second annual Higher Education Outlook Survey conducted by KPMG LLP.
Education & Careers

Young Americans: OSCPA's New Video Series to Boost Financial Literacy

America's young adults face some of the most difficult financial challenges today – staggering student loan and credit card debt, a tough job market, and an uncertain economic future.
AccountingWEB Life

Why Everyone Needs an 'Incapacity Plan'

While many people carefully plan for retirement and what will become of their estate after death, too few provide for that middle ground – incapacity. Incapacity planning ensures you're able to speak for yourself in all decisions.
Education & Careers

Coaching Clients on the Rising Cost of College

Only the cost of fuel oil and gasoline has risen more than the cost of college tuition over the past 10 years, rising a staggering 88 percent since 2003.As higher education tuition costs continue to rise, saving for college is becoming increasingly difficult for many American families.
Practice

Wealth Management for Women: Creating a Women’s Circle

Female clients of wealth management firms often have different circumstances behind their financial planning needs. Some are breadwinners and business owners, while others are at-home family caregivers. Some worry about paying college tuition, caring for an elderly family member and managing household finances. Nearly all put their families’ needs ahead of their own.
Practice

Does It Pay to Diversify?

One way we can help our client investors possibly avoid financial catastrophes and achieve greater returns with less volatility is to encourage them to diversify their portfolios properly. The notion of diversification isn't new but clients don’t always have the knowledge of how to diversify.
A&A

How CPAs Can Protect Baby Boomers' Nest Eggs from Derailers

Unexpected life or economic events are causing both short- and long-term damage to the retirement savings of baby boomers in America, according to a recent survey by Ameriprise Financial Inc. But there are strategies CPAs can implement to stop the bleeding.
Technology

Excel Tip: Determining the Remaining Length of a Loan Using NPER

Learn how to use the NPER function in Excel to determine just how long it will take you to payoff that credit card bill on which you’re making monthly payments..
Tax

Pew Survey: One-Third of Americans Like Doing Their Taxes

While many people believe doing their income taxes is a hassle, a recent survey from the Pew Research Center shows that a good portion of Americans don’t mind the process.
A&A

AICPA Survey Finds Money Worries Taking Toll on Americans' Waistlines, Well-being

Feeling a little paunchy around the middle or particularly irritable when you pull into work in the morning? Don't blame it all on processed sugar or your two-hour commute. A recent AICPA survey found money worries are making many Americans impatient, unhealthy, and sleep deprived.
A&A

Survey Finds Parents Flagging as Financial Role Models

Turns out American kids aren't the only ones with a foggy idea about the financial future. According to a recent study by T. Rowe Price, many parents are also neglecting to prepare for their families' long-term financial stability.
A&A

CEE Details New Standards for Financial Literacy

On April 16, the Council for Economic Education (CEE) released its National Standards for Financial Literacy. The standards are a framework for the content and skills the CEE believes should be contained in a K-12 personal finance curriculum.
Tax

Should Clients Ditch or Keep Tax Return Records?

Now that the tax return season is over – at least for those filers who didn't request extensions – invariably, some of your clients will ask you this question: How long do I need to keep copies of my tax return?
Tax

Should You Spend or Save Your Tax Refund?

According to the AICPA's annual survey to determine Americans' top financial concerns and assess their financial well-being, taxpayers say they're likely to use their tax refund conservatively – to build up savings, pay for day-to-day household expenses, or put toward debt.
AccountingWEB Life

Lack of Savings Is Americans' Top Financial Concern

Consumers admit they're in dire need of professional financial advice, at least according to 78 percent of those who participated in the 2013 Financial Literacy Survey conducted by the NFCC and the Network Branded Prepaid Card Association.
Practice

Teaming with a Financial Advisor

Recommending a financial advisor to a client is one of the most important recommendations you can make. Customers will trust your recommendation; therefore, there is a potential your future with that customer could be impacted.
Practice

Retiring with Dignity

Can baby boomers retire with dignity, or is it no longer in the cards? Financial planners have what it takes to help their clients – and themselves – avoid working into their 80s and beyond.
Education & Careers

AICPA Publishes Consumer Book on Personal Finance

Available in January, "Save Wisely, Spend Happily" - a field guide to personal finance - combines the insight of 125 CPAs under the direction of best-selling author Sharon Lecther.

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