Stephen Nalley

expert panel

Having a plan in place can give you peace of mind during a crisis. As more and more company layoffs are announced, employees across industries are worrying about their financial well-being. Will their company be the next to surprise its workforce with a round of cuts? How will they take care of themselves and their family if they no longer have an income? How long will it take them to find a new job? While you can never totally predict the future, there are steps you can take to help prepare for it. If you’re worried about potential layoffs at your company or in your industry, or you’ve been laid off from your job already, consider the following advice from the financial experts of Kiplinger Advisor Collective. Here, they discuss the steps you can take to help prepare your household for a layoff, get back on your feet after a layoff and ease your financial fears during an uncertain time.

expert panel

Such a sensitive subject requires a careful approach. Talking to your aging parents about their finances can be extremely difficult, but it can be important to ensuring they are supported and cared for in their later years. As parents grow older, they may find it harder to do the things they’ve always done, such as manage their day-to-day finances or make major decisions about money. They may also have certain wishes regarding their long-term care or what they’d like done with their assets once they pass on. Having these conversations with your parents early on can help ensure you’re on the same page and help them make the best decisions for their needs. However, approaching parents about this subject can be challenging, and parents may not always be receptive to getting advice from their children — even if they are grown adults themselves. To help make these matters easier for both parties, the financial experts of Kiplinger Advisor Collective each share one tip they’d give for how to approach this type of conversation with aging parents, and why implementing this tip can ensure everyone is happy.

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Tax planning is an essential part of business management that, unfortunately, many entrepreneurs tend to overlook until the year's end.