UTMA vs. UGMA vs. 529 Plan

UTMA vs. UGMA vs. 529 Plan

One of the most frequently asked questions we get as a financial advisor company in Utah County is, “what is the best way for me to set aside money for my kids?”

From the moment they enter your life, your children are tethered to your heartstrings. It is natural for new parents to want the highest opportunity of success for their children. This may lead parents to wonder, what are the best ways to save money for my kids?

Do I Really Need Umbrella Insurance?

Do I Really Need Umbrella Insurance?

As an experienced financial planner, one of the most common questions I get asked is, “Do I need to purchase umbrella insurance?” The short answer, most likely, is yes. Adequate umbrella insurance can save you millions, especially if you are a high-earner, have sizable assets, or are in a career where you could be liable for the accidents and injuries of others.

So, You Want to Be a Millionaire…

So, You Want to Be a Millionaire…

Countless people have chased after the idea of becoming a “millionaire,” only to fall short. While a million dollars today buys much less than it once used to, desires to be financially comfortable and independent are undiminished. So, what are individuals that have a high net worth doing right? Surely, they have unlocked some secret to financial freedom and success.

Determining Your Personal Risk Tolerance

Determining Your Personal Risk Tolerance

Most people do not like to hear the word “risk” anywhere near the word “finances.” Nevertheless, risk and reward are closely correlated. On average, markets reward investors who accept more risk. On the other hand, lower risk investments may yield smaller returns, but also assure smaller losses. Successful investors understand this relationship and build portfolios that reflect their personal tolerance for risk. Creating this balance in your own investment portfolio will ensure you can stand by your investments in every kind of market.

Four Ways to Handle a Bear Market Like a Pro

Four Ways to Handle a Bear Market Like a Pro

No bull markets last forever. While, by some measures, we are in the thick of the longest bull market in history, the end always comes. So, investors must always be prepared for bear markets, both emotionally and within their portfolios.

At TrueNorth Wealth, we know that, for long-term investors with appropriate diversification and portfolio construction, bear markets can actually be quite beneficial, if handled appropriately. Consider these four ways to manage the next bear market like a pro, whenever that may be.