What Is a Special Power of Attorney? A special power of attorney is a legal document that allows an individual to give another person the ability to make certain legal or financial decisions on their behalf. The document, also known as a limited power of attorney (LPOA), authorizes one person, called an agent or an…

Getting a home equity line of credit (HELOC) is a lot like getting a mortgage, home equity loan, or cash-out refinance loan. But there are significant differences among these loans. What sets apart a HELOC the most is that—much like a credit card—you can borrow as little or as much money as you want as…

401(k) vs. Pension Plan: An Overview 401(k)s and pensions share several similarities: to start, they’re both employer-sponsored retirement plans that promise tax advantages as well as future financial security. Both are methods of funding employees’ retirement costs with real tax savings for participants. The main differences: A pension guarantees the retiree a set payment for…

What Is a Poison Put? A poison put is a takeover defense strategy in which the target company issues a bond that investors can redeem before its maturity date. A poison put is a type of poison pill provision designed to increase the cost a company will incur to acquire a target company. Key Takeaways…

A charitable gift annuity (CGA), as the name implies, is both a tax-deductible gift and an income-producing annuity. It’s a way to benefit a charity or non-profit organization whose work you support, while still supporting yourself and your kin. Choosing the best one involves selecting an institution with both laudable goals and financially acceptable terms….

Top alternative energy stocks this quarter include Daqo New Energy Corp., the best for value and growth, and First Solar Inc., the best-performing alternative energy stock over the last 12 months. Alternative energy stocks have matched the performance of the broader market over the past year. The iShares Global Clean Energy ETF (ICLN) is down…

Why Should You Change Your Financial Advisor? If you’re considering changing your financial advisor, you’re not alone. According to research company Spectrem Group, nearly 60% of investors have switched advisors at some point. The top reasons cited for switching include a lack of communication, a lack of good advice and ideas, and poor performance relative…

The Federal Reserve once again increased the pressure pushing down on inflation—and the economy—for what could be the final rate hike of its current campaign. The central bank raised its benchmark interest rate for the tenth time in this cycle by a quarter-point to a range of 5% to 5.25% Wednesday. The widely expected move…