A look at Diversification and Risk Management
There’s an old story about ancient Chinese merchants who managed risk by dividing their cargo among several ships. This is one of the earliest examples of diversification and risk management in practice. If one vessel sank or was attacked by pirates, the entire shipment would not be lost. The remaining ships still had a chance […]
All Municipal Bonds Are Not Created Equal
Municipal bonds are often viewed as relatively conservative investments, especially because they are issued by state and local governments. But as Detroit’s 2014 bankruptcy reminded investors, municipal bonds still carry risk. Not every bond has the same level of security, and understanding the differences can help investors make more informed decisions. The Two Main Types […]
A Living Trust Primer: What to Know Before You Create One
A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives. At True North Wealth Management, we believe estate planning works best when it connects with your broader financial picture. A living trust may help organize how your assets transfer, but you should […]
How Retirees Can Use AI to Start a Small Business
Artificial intelligence, often called AI, is changing how people work, communicate, and run businesses. For retirees who want to start consulting, freelance work, or a small business, AI can make the process feel more manageable. You do not need to be a technology expert to benefit from AI. Many tools now help with everyday business […]
Divorce and Financial Planning: How to Prepare Before You Make Major Decisions
Divorce and financial planning are often deeply connected, making divorce one of the most emotional and financially complicated transitions a person will face. While divorce rates in the U.S. have generally declined in recent decades, many couples still reach the difficult point where separation or divorce becomes a real possibility. The U.S. Census Bureau reported […]
The Cost of Keeping the Bank of Mom and Dad Open
Graduation season brings excitement, pride, and celebration. It can also bring a major financial transition for parents. For families who helped pay for college, graduation may mean that a large recurring expense is about to end. The question is what happens next. Do parents redirect that cash flow toward retirement, savings, debt reduction, or other […]
A Home Insurance Claim: Should You File or Pay Out of Pocket?
Homeowners insurance helps protect you from major financial loss. But that does not always mean you should file a Home Insurance Claim for every repair or every small amount of damage. In some situations, filing a home insurance claim may make sense. In others, paying out of pocket could be the better long-term financial decision. […]
A Financial Decision Not Made is Still a Decision
When it comes to investing, every choice you make is part of your overall Financial Decisions—even doing nothing can still affect your future. Many people delay financial decisions because they feel busy, uncertain, or overwhelmed. But waiting too long can quietly create problems. You may miss employer retirement contributions, keep old investments that no longer […]
A Checklist for When a Spouse or Parent Passes
Losing a spouse, partner, or parent can feel overwhelming. Grief takes time, and yet there are still practical steps that need attention. Having a clear checklist for when a spouse or parent passes can help you move through the first days and weeks with a little more structure and support. This guide can help you […]
A Brief History of Estate Taxes
Federal estate taxes have been a source of funding for the federal government almost since the U.S. was founded. In 1797, Congress instituted a system of federal stamps that were required on all wills offered for probate when property (land, homes) was transferred from one generation to the next. The revenue from these stamps was […]