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What to Do If Your Term Life Insurance Policy Is About to Expire

One advantage of term life insurance is that it is generally the most cost-effective way to achieve the maximum life insurance protection you can afford. Many people first purchase term life insurance to protect their family’s financial interests after a significant life event, such as getting married or the birth of a child. You may …

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ESOPs: An Exit Plan for the Retiring Business Owner

An Employee Stock Ownership Plan, or ESOP, offers a tax advantaged way for a business owner to get liquidity from the business while sharing the benefits of ownership with the employees. Due to the complexity of ESOPs and the endless ways to customize ESOPs, this article is very high level and has overgeneralized many details.  …

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What Are We Reading?

What is Beacon Hill staff reading this summer? Find out below! Mark: I am currently reading “12 Rules for Life: An Antidote to Chaos” by Jordan Peterson and “Thinking, Fast and Slow” by Daniel Kahneman. Anne: I am actually reading “1493 Uncovering the New World Columbus Created” by Charles C. Mann for a second time! …

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What is the Federal Funds Rate?

The federal funds rate is the interest rate at which banks lend funds to each other from their deposits at the Federal Reserve (the Fed), usually overnight, in order to meet federally mandated reserve requirements. Basically, if a bank is unable to meet its reserve requirements at the end of the day, it borrows money …

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Building Confidence in Your Strategy for Retirement

Each year, the Employee Benefit Research Institute (EBRI) conducts its Retirement Confidence Survey to assess both worker and retiree confidence in financial aspects of retirement. In 2018, as in years past, retirees expressed a higher level of confidence than today’s workers (perhaps because “retirement” is less of an abstract concept to those actually living it). …

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