Ericson, Scalise and Mangan, PC

Both CDs and high-yield savings accounts are considered safe investments. With both, you invest money and watch it grow, thanks to the interest rates that your bank or credit union provides.

Although it seems to go against the grain, you might be better off cashing in sooner rather than later. Investors and consumers alike need to understand the concept of time in relation to the value of money. Basically, a sum of money today is worth more than it will be tomorrow, next month or next year. https://lnkd.in/eJsB6VzG

PMI protects your lender in the event you default — but you have to pay the premium. Depending on the size of your loan, you can expect to pay $120 or more with each mortgage payment because of PMI. You can avoid this payment, though, with what is known as a piggyback mortgage.

If you run a family business, you may be trying to identify and develop potential leaders from within the family; a seamless transition from your leadership to the next generation's can help preserve your legacy and vision while providing opportunities for your successor to grow professionally.

As you age, you may realize that living in your own house or apartment has become increasingly challenging. While it may be hard to leave your longtime home, if your physical, emotional and social well-being are suffering, it may be time to explore options for senior living.

Pre-retirees in the process of charting out the future course of their retirement years may be asking themselves whether accumulating wealth should be the end goal.

If you do not carefully plan your business's integration with your personal finances, you might expose your other assets (including your family home) to liability or even forfeiture.

Planning for a special needs child takes special consideration, especially in terms of estate planning. To be sure your child is cared for the way you would like, you need to get your affairs in order. By following the steps outlined below and consulting with a qualified professional at Ericson, Scalise & Mangan, who can help you design a plan that meets your unique situation, you can be assured your child will be well cared for if you die or become incapacitated.

We often talk about the best ways to make an estate plan, but it's also important to review things that we should never do.

Estate planning is an ongoing process. When people hear about estate plans, many think of writing a will, but that’s not all estate planning entails. It also covers any decisions regarding your finances, properties and medical care. With an estate plan in place, you’ll be able to trust that your wishes will be fulfilled in your absence.