Three questions can help you refine your life goals

Three questions can help you refine your life goals

It has been two weeks since the deadly shooting in Las Vegas. The incident showed both good and bad side of the humanity to the world.  One person was trying to kill many innocent people. But at the same time, many people were willing to risk their own lives helping others, including strangers. I was made to give a second thought about the purpose and meaning of our life. I always ask three questions to my clients to make sure that their financial goals align to the deepest value of their lives. Today, I would like to share these questions and my personal answers with you. I hope it can help more people beyond my clients.

How to reduce U.S. taxes on your foreign income?

How to reduce U.S. taxes on your foreign income?

Generally speaking, U.S. citizens and green card holders are taxed on worldwide income and subject to certain foreign assets reporting requirements as well. For your financial assets held outside the United States, there is not a lot of things you could do to reduce the burden of reporting besides transferring it over. However, for your foreign income, the following steps may help you save some taxes associated with it.

FinTech in Personal Financial Planning

FinTech in Personal Financial Planning

Do you know that you can pay your auto insurance at a fixed mileage rate? Do you want to trade stocks without paying any commissions? Would you like to buy a rental property online in another state without being worried about managing the property? Are you aware that you could invest for free in a well-diversified portfolio, which is used to be only available for wealthy people? Have you thought about buying or selling your car at a better price without leaving your home? Would you believe that you could sell a portion of your home equity? They are all possible now thanks to FinTech (financial technology). In this post, I will share with you the list I compiled of some FinTech companies in personal financial planning. 

4 common misunderstandings about your homeowners insurance policy

4 common misunderstandings about your homeowners insurance policy

It was sad to learn that thousands of people lost their home because of hurricane Harvey and Irma. As a financial planner, I am more worried about that some victims are not able to recover from the loss financially because they don’t have homeowners insurance. Even for those victims who have homeowners insurance, they would be surprised and unhappy about the actual amount they can receive from the insurance company due to lack of understanding of their own policies. They could not make any change now but will learn from the claim process. For people who own a house and have not used your homeowners insurance before, I highly recommend you to read through your own policy and make sure you understand exactly what it covers and how much it covers. I will talk about a couple of common misunderstandings of the homeowners policy in this post. Hope it helps.