A Primer on Dividends
For investors looking for portfolio income, dividend-paying stocks may be worth understanding. A dividend is a payment a company makes to its shareholders, usually from company profits. When a business earns a profit, it can generally use that money in one of two ways: reinvest it back into the company or distribute a portion of […]
An Overview of Renter’s Insurance
Renters often assume they do not need renter’s insurance because they do not own the home or apartment they live in. Others believe their belongings are not valuable enough to insure. But while the property owner’s insurance may cover the building, it usually does not cover your personal belongings, your liability, or the cost of […]
And the Executor Is: Choosing the Right Person to Carry Out Your Wishes
Choosing an executor is one of the most important decisions you make when creating a will. Your executor is the person responsible for carrying out the instructions in your will after you pass away. That may include managing estate assets, paying final debts and taxes, communicating with heirs, working with the court when required, and […]
A Penny Saved Is Two Pennies Earned
Benjamin Franklin is often credited with the saying, “A penny saved is a penny earned.” But the original line from Poor Richard’s Almanack, published in 1737, was actually: “A penny saved is two pence clear.” However you say it, the principle still applies: small savings can make a meaningful difference over time. At True North […]
A Look at Whole Life Insurance
Whole life insurance is designed to provide permanent life insurance protection with fixed premiums and a guaranteed death benefit. This protection remains as long as the policy remains in force. Unlike term life insurance, which provides coverage for a set period of time, whole life insurance is intended to last for the policyholder’s lifetime. In […]
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 […]