A Financial Advisor Can Help You Make Smart Financial Decisions

Selecting a financial adviser is no small decision, it can benefit or harm your chances for a comfortable retirement for many years.

The benefits of working with a financial adviser vary by individual as well as advisors are legitimately prohibited from promising returns. Yet, the study suggests average extra investment returns can range from 1.6% to 4.1% even more yearly.

SmartAsset's new tool makes it easy to locate the right financial adviser near you in just a few minutes. The no-cost device matches you with up to three regional fiduciary economic experts that have actually passed a strenuous screening procedure. They make sure each is registered with the U.S. Stocks and Exchange Compensation (SEC) or the appropriate state regulatory authority, have the proper licenses, and also have no pending or legitimate regulatory disclosures within the past decade.

Check out these 7 tips when picking a financial adviser. It can help you to find peace of mind and prevent years of anxiety.

1. A Fiduciary is the Best Kind of Financial Advisor

A fiduciary is a person who is bound to act in the individual's best interest. This obligation gets rid of the conflict of interest worries as well as makes an advisor's advice extra trustworthy.

Every one of the financial advisers on SmartAsset's matching platform is signed up fiduciaries. If your consultant is not a fiduciary and also continuously pushes investment items on you, use this no-cost tool to find a consultant who has your benefit in mind.

2. Don't Employ the First Expert You Meet

While it's tempting to hire the financial adviser closest to the house or the very first consultant in the yellow pages, this decision requires more time. Make an effort to meeting a minimum of a few advisors before choosing the very best match for you.

3. Do Not Select a Financial Adviser with the Wrong Background

Some financial advisers focus on retired life planning, while others are best for a local business owner or those with a high net worth. Some could be best for young professionals starting a family. Make sure to recognize an expert's strengths and also weaknesses - before signing the dotted line.

4. Do not Select an Advisor with an Inappropriate Strategy

Each advisor has a one-of-a-kind strategy. Some advisors may recommend hostile financial investments, while others are a lot more traditional. If you want only stocks, an expert that favors bonds, as well as index funds, is not an excellent match for your style.

5. Always Ask About Credentials

To offer investment recommendations, financial experts must pass an examination. Ask your advisor concerning their licenses, examinations, and credentials. Financial advisor examinations consist of the Series 7, as well as Series 66 or Series 65. Some advisors go an action better as well as come to be a Certified Financial Planner or CFP.

6. Understand Exactly How Advisors are Paid

Some financial advisers are "fee-only" and bill you a flat rate. Others bill a percentage of your assets under management. Some advisors are paid commissions by mutual funds, a significant conflict of interest. If the expert earns more by overlooking your best interests, do not hire them.

7. Do Not Hire an Expert by Yourself

Opportunities are, there are several very certified financial advisers in your town. Nevertheless, it can seem discouraging to pick one.

A no-cost tool makes it simple to locate the appropriate economic expert for you. Now you can be matched with up to 3 local fiduciary financial advisors that have actually been rigorously screened for regulatory disclosures and also to verify their licenses. The whole matching process takes just a few minutes.

How to Find a Land Agent

Land Agent

Are you looking to buy or invest in land or property? If so, one of the best ways to get information on the subject is to work with a land agent, sometimes also called a land broker. Of course, before you can work with a land agent, you need to know how to find one. 

Search by State

One easy way to find a land broker near you is to search state records. These can easily be found online just by searching for "land brokers" with your state's name or initials next to it. Once you do this, you may get a list of land brokers in the area. 

From there, you can click on a specific land broker to see their holdings or entities they work for/with or own. For example, one land broker that comes up if you search in Flordia is CEO Aubrey Ferrao.

Check Out News Stories

Another way to find your perfect land agent is to read up on news stories about land brokers in your area. These news stories often double as reviews. Going back to the Aubrey Ferrao example, you can easily find a Wall Street Journal article about her work to get a good idea of what she has accomplished in her field.

If you aren't sure where to look for news stories, the best thing to do is to check out some popular newspapers and websites that focus on giving advice to potential investors. Some of the most popular sources for information like this include Morningstar, MarketWatch, and Bloomberg. Keeping up to date with these sources and more can help to keep you up to date and educated on the topic.

If you want to learn more about land brokers, you need to make sure to do your research! These two source types are a good place to start. So, what are you waiting for? Find your perfect land agent today!

Reverse Mortgages and Retirement: How Your Home Can Help You As You Age

For many people, retirement is something they look forward to. For others, they fear it due to a lack of financial planning. However, even if you don't have a fat pension or a great investment plan, you can still retire comfortably during your later years if you are a homeowner. 

This can be done via a reverse mortgage that transforms the equity you have built up in your home into retirement income. Below are some of the benefits of using a reverse mortgage for retirement.

It Can Give You Cash

One of the biggest problems for retired seniors is not having enough monthly income. A reverse mortgage can help with this problem in two ways. If you are still making mortgage payments, it can eliminate that monthly expense after you refinance. 

 Then, any equity left can be used to produce a steady stream of retirement income. This can be a great help if you need more than Social Security and whatever retirement plans you have to make ends meet.

It Allows You to Stay in Your Home

One reason why some people are fearful of reverse mortgages is that they believe that they will be forced out of their homes. This is not true at all. The homeowner actually retains ownership of the home until they and their spouse pass away. 

Only then will it be transferred to the lender. The reverse mortgage can also end if you choose to move at some point. Still, it is an excellent option for those that want to continue living in their home permanently.

Your Heirs Won't Have to Pay for It

Another fear people have is that their children or other heirs will have to pay the bill if the amount of equity used exceeds the actual value of the house. This is also false. A reverse mortgage is a kind of financing known as non-recourse. 



What this means is the lender will have no ability to make a claim against an heir to pay for that debt. The responsibility for paying that debt isn't allowed to exceed the value of the home.

The Income Isn't Taxable

Another huge benefit you should be aware of is the fact that the income you receive from your reverse mortgage isn't taxable. This is due to the fact that the IRS categorizes the payments you receive as "loan proceeds." This is a significant advantage over other kinds of retirement income that can indeed be taxed by the federal government.

There are many benefits to having a reverse mortgage during retirement. However, taking out one may not be best for everyone. Consider the benefits, your plans, and your financial situation when making your decision. Get some advice on the matter. It may turn out that a reverse mortgage is right for you and your family.

Top Things to Consider Before Buying a Second Home

Are you pining for a vacation or retirement home? Or, do you simply wish to invest in an appreciating asset for the future? If your answer is yes to any of these questions, it is time to consider purchasing a second home.

Is Buying a Second Home a Good Investment?

It depends on several factors – property location, buying purpose, overhead charges such as maintenance cost, resale value, etc. Generally, investing in a second property can bring-in higher ROIs via rental income and also offer your family a recreational space. 
Besides, housing loan eligibility is higher for second-home buyers. Add to it the spectrum of tax benefits they can avail on their home loan interest rate. Thus, invest in a second home if you’re financially capable of bearing its cost.

Here are the top points to consider before buying a second home.

Objective of Purchase

Buyers should have a clear goal of purchase (for rental or self-use) before investing in a second home. Only then, they should decide on the location, type, and size of the property for better returns. Moreover, this factor is significant as it also figures into your housing loan eligibility.

Potential Rental Income

If you’re planning to rent out the property for income generation, choose a location where the rental demand is high to earn enhanced monetary benefits. Besides, if you decide to take a full or partial home loan for the second property, rental income can help with paying off EMIs. Here is some advice - before applying for a home loan, use a home loan EMI calculator online to accurately calculate your monthly installments.

Property Value

Usually, the location of the property determines its market value. If you plan to use it as a weekend home or vacation home, consider factors like climate, views, maintenance need, potential rent, etc. These factors can estimate property appreciation that can enhance its resale value. Moreover, from the standpoint of finance, the property value is important as lenders also check your housing loan eligibility through property valuation.

Maintenance Cost

For any property, timely maintenance is essential to ensure functionality as well as resale prospects. Besides, improperly kept properties bring lower rental returns and sabotage capital appreciation. Therefore, do consider the maintenance cost of the second home as your home loan won’t cover it.

Cost of Borrowing

Depending on your savings and property value, you can take a housing loan to purchase a second home. Accordingly, you can choose a loan plan with suitable home loan interest rates and EMIs. However, in most cases, a home loan does not cover hidden charges like processing fee, registration charges, stamp duty, etc. Also, remember that the overall cost you incur on servicing the housing loan will impact the cost of your property as well.

Over to You

As examined above, buying a second home can be a good investment but overlooking the cost of borrowing is not a smart move. Therefore, use a home loan EMI calculator to estimate the cost of servicing a suitable home loan as various loan plans like the tailor-made home loan for self-employed, are available in the market.

Are you looking for housing finance? If yes, then turn to Tata Capital! We offer an attractive home loan interest rate and a hassle-free process. Check loan eligibility online on our website and file your application today!

How to Help Your Business Manage Taxes

Owning and maintaining a business is a challenging job. Business entails numerous things. As a business owner, a lot is expected of you, especially decision making. Different businesses have different taxes to manage. It can be a daunting task if you are not organized.

Understanding the Type of Business you have

First, you need to understand where your business stands. Is it a sole proprietorship, a partnership, or a corporation type of business? Once you are clear about the position, you will know the right kind of tax to pay. Additionally, you will avoid paying unnecessary taxes. Knowing the precise taxes, you ought to pay will also assist you in keeping proper records, i.e., business finances and financial documents.

Knowing the Different Types of Taxes you have to pay

Apart from the common types of taxes, different businesses have diverse types of taxes. Knowing the exact tax to pay will ease you the struggle of paying unnecessary penalties that you are oblivious of. For instance, in some states like New York, businesses have to pay temporary disability insurance. If you have a large business that requires employees, it’s your obligation to pay the workers’ compensation and unemployment insurance.

You also need to know the type of forms you are required to file. For example, a sole proprietor business uses form 1040, while a partnership business uses form 1065 to report their business income to the IRS.

Therefore, you must know the federal license of your business in your state.

Calculate Your Income

You must know how to calculate your gross income so that you get your taxable income. Clearly understand the difference between net and gross income. If you do not know accounts, it is highly recommended that you hire a professional accountant or use tax accounting services.




Professional accountants offer numerous services that can assist you with all tax challenges. You can also employ certified accounting software. Such software is helpful if you have knowledge in accounting.

Other Important Steps

•Get employer Identification Number (EIN)

This form is acquired from the Internal Revenue Service (IRS). You need a valid Taxpayer Identification Number (TIN) to apply. You can apply for it online and get it fast.

•Acquire business and professional licenses

Only acquire a license that is required in your state. Remember, these licenses may have other separate taxes attached to them.

•Claim your tax credits

This claim will reduce the amount of tax you pay. But, you can only claim if you qualify.

•Claim the income reported to the IRS

The IRS has records of the 1099 forms that you get. They match the income you report against what they know you receive. Ensure that the income in the form matches what you report.

•Decide when and how you are going to pay your taxes.

The frequency of filling your tax returns depends on your state, but you decide how and when you will file the revenues. Don’t wait until the deadline. File your tax returns in advance.

As a business owner, you might get distracted or engaged in work and forget to file in time, getting yourself into more debt.

Tax Debt

Failing to meet deadlines could lead to penalties or other dire consequences. If this happens, seek legal help. Such situations are tricky. The IRS Fresh Start Initiative will give you a second chance to clear the tax debt.

If you have a revenue debt and are unable to pay, you can report the situation to the IRS as Currently Not Collectable. After convincing them that you cannot pay and guaranteeing them you will pay back, they will offer you more time to clear the tax debt.

Balancing your books will give you heads-up to avoid late fees or penalties. If you don’t qualify for the fresh start relief, acquire legal help to help you get a penalty relief.

It is advisable to keep your business in order. You wouldn’t wish to crumble your hard-earned business because of tax debts. If you can’t handle taxes due to workload, seek help. This way, you will have a sober mind as you focus your energy on other important components of your business.

How Does a Personal Loan Help in Your Business?

Running a business comes with its fair share of responsibilities; right from more significant issues like hiring staff, finding suppliers, advertising to smaller expenses like buying a coffee machine for the office. As an entrepreneur, your job is a coming together of many responsibilities and duties. 

Adding support to your entrepreneurial journey is a quick personal loan. It can be used to cover any and every expenditure of a business and allows a company to flourish and touch new milestones.

Here is how a personal loan can help you run your business better:

It gets approved quickly: It is relatively simpler to meet personal loan eligibility rules. The lenders check your CIBIL score to accept or reject the application. You can get a loan by submitting necessary documents such as your bank statements, identity, and address proofs and income statements.

It covers urgent shortfalls: When you apply for a personal loan online, the approval process takes the least possible time. This is useful to cover any immediate financial crisis that you might face in your business. Any other form of credit can require a longer approval time.

It offers flexibility: An instant personal loan can be used for multiple needs. When you submit your application, the loan provider does not inquire about the reason for your requirement. 

You can use the funds for many miscellaneous expenses of your business. Personal loans offer a lot of flexibility to entrepreneurs. They can cover a broad spectrum of costs. This is particularly helpful for small companies or sole proprietors.

It does not need collateral: One of the biggest concerns faced by entrepreneurs is having to sign an asset as collateral when taking a loan. Not only is this risky for the business, but many small enterprises may also not own enough assets to show as collateral. 

Personal loans are unsecured. Hence, you do not require a security or third-party guarantor when you apply for one.

It provides convenient repayment methods: You can choose a suitable loan tenure and equated monthly installment (EMI) amount as per your business’s ability to settle the loan. 

You can also repay a specific portion of the funds with the option of part-prepayment. Personal loans offer different ways to repay the money. These match with most businesses’ capabilities and constraints.

To sum it up

A personal loan can help your business in many ways. It can offer increased financial stability to overcome many economic hurdles. The consumer-friendly nature of personal loans and the carefully designed features can aid both big and small companies in times of need.

If you are an entrepreneur and require capital for the growth and expansion of your business, you can apply for a Tata Capital instant personal loan. With rates of interest starting from 10.99%, you can secure a loan up to Rs 25,00,000 with a loan tenure of up to 72 months.