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When you're a small business owner, you need to pay extra careful attention to both your business and personal finances. Your financial planning strategies should simultaneously encourage the success of your business while also working towards safeguarding your personal finances. To pursue that balance, check out these tips.

As Melanie Marshall (a hypothetical case) prepares to head off to college, she’s looking forward to her newfound independence. Although Melanie will be on her own for the first time, her parents, Joan and Al, can at least rest assured they’ve schooled her well in handling her personal finances.

At the foundation of your financial well-being lies your behavior.

Here is a statement that is bound to cause you to raise your eyebrows: Your long-term financial success may depend less on the structure of your portfolio than on your ability to adapt your behavior to changing economic times. 

Myth: Social Security will provide most of the income you need in retirement.

Fact: It's likely that Social Security will provide a smaller portion of retirement income than you expect.

Environmental, Social and Governance Investing Basics

Asset allocation is a common strategy that you can use to construct an investment portfolio. Asset allocation isn't about picking individual securities. Instead, you focus on broad categories of investments, mixing them together in the right proportion to match your financial goals, the amount of time you have to invest, and your tolerance for risk.

Wall Street has little recent history to go from, but two things are very likely.

Starting in late 2021 and throughout all of 2022, Wall Street has debated what markets might do if Russia invades Ukraine.

Many people may find the notion of creating and adhering to a financial plan about as appealing as doing housework. As everyone knows, putting off chores can lead to further procrastination. And, the longer you let things go, the more difficult it is to get started. But eventually, the time comes when you just have to buckle down and get to work.

With inflation on the rise, the IRS increased the 2022 contribution limits for some retirement accounts.

On December 15, 2021, the Federal Open Market Committee (FOMC) of the Federal Reserve System made a significant shift in monetary policy in response to rising inflation. The Committee accelerated the reduction of its bond-buying program in order to tighten the money supply and projected three increases in the benchmark federal funds rate in 2022, followed by three more increases in 2023.