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Asking a financial expert if theyre working in your best interest when giving you advice on your retirement account seems like a simple enough question. That question is now getting a little more complicated.

Known as the fiduciary rule and set by the Labor Department to take effect in April 2017 ” but then delayed by the Trump administration until at least June 2017 and some parts until January 2018 ” the rule simply requires people in the financial services industry to put consumers best interests ahead of their own.

Without this rule, financial advisers could steer clients to mutual funds with excessive fees or have other conflicts of interest such as higher bonuses or prizes. The Obama administration put the loss at $17 billion a year from retirement accounts for such conflicts.

The fiduciary rule would prohibit advisers from concealing any potential conflict of interest, and required that all fees and commissions must be clearly disclosed in dollar form to clients. It also expanded the definition of a financial adviser not just to someone giving ongoing advice, but to any professional making a recommendation or solicitation.

President Donald Trump has delayed the rule, which is now under review. Some groups have said they may sue the administration if the rule is weakened or killed.

The fiduciary rule is necessary, supporters say, because most financial advisers arent held to a legal standard requiring them to put a clients interests first ” much like a doctor or lawyer must do.

Instead, financial advisers can legally act in their interests first and can earn bigger commissions for more expensive products that they sell. They can earn more by giving bad advice, and its legal.

To avoid this problem, consumers can look for fee-only advisers who charge a one-time fee for financial advice. They dont earn a commission for steering customers into one investment product over another.

Before the rule was scheduled to be implemented, some investment firms had changed their prices on funds to appeal to consumers. Some high-fee products were removed and some companies eliminated commission-based sales practices entirely. Some also created new products that are less expensive for consumers.

If you work with a financial adviser, ask them if theyre a fiduciary and if theyre obligated to act in your interests above their own. If not, you may want to switch advisers.

Hope you found these tips helpful! Contact me for more insights and info.

Published with permission from RISMedia.

These four plants will promote a sense of harmony and relaxation in your bathroom.

Orchids

Native to the tropics, a steamy bathroom can be the perfect spot to grow this breathtaking plant, as long as it gets enough natural light.

Spider Plant

Spider plants are renowned for being low maintenance, but the biggest draw is likely their well-documented air-purifying abilities.

Bromeliads

From bright pinks and yellows to deep purple, youll be hard-pressed to find a more stunning specimen.

Philodendron

With its dark and glossy leaves, a philodendron will instantly give your bathroom the feel of a tropical rainforest.

Published with permission from RISMedia.

Though it may be a luxury thats often overlooked, an outdoor bathing area adds heaps of appeal to any home. If youre looking to add one to your house, heres all the inspiration youll need to design a dream-worthy outdoor shower.

Tropical Sanctuary
For complete immersion in nature, you can create a tropical garden theme with lush plantings that offer the utmost privacy and relaxation. Try using plants that feel exotic, like hibiscus and bird of paradise, and youll have your own little refuge that feels like a Caribbean resort.

Rustic Appeal
If your home lends itself to more of a farmhouse aesthetic, then you can try designing the shower area with a stone wall for a rural feel. Exposed copper piping furthers the rustic ambiance and makes for an idyllic place to wash all your stress away.

In the Open
Rather than enclosing the shower, another option is to keep it open. This simple solution makes it easy to take a quick rinse after getting out of the pool or spending a day at the beach. All it takes is a luxurious showerhead along the backside of the house and you have everything youll need.

Zen Garden
When you need to get away and relax the mind, an enclosed pebble garden with a stone path leading to your outdoor shower is just the place to escape to. You can even include a seating area for quiet reflection or, even better, an outdoor bathtub.

Modern
For a distinctly modern look, try using materials like cedar cladding and concrete along with a sleek showerhead. Add a pergola with plants up above and youll have the perfect place to take your morning shower throughout the summer months.

Published with permission from RISMedia.

Published with permission from RISMedia.

When calculating the cost of homeownership, it’s important to include not only everyday costs, such as mortgage payments, utilities and property taxes, but also inevitable home-repair expenses. Some of the most common home repairs involve plumbing fixtures, patios, fences and driveways, heating and air conditioning systems, and painting both inside and out. Youll also likely want to make home renovations at some point over the years.

The good news is, keeping up with home maintenance or making renovations will preserve or enhance your home’s value; however, it’s crucial that homeowners plan ahead for the costs involved. Here are five quick tips from BMO Harris Bank:

1. Contribute small amounts of money regularly to an emergency fund for maintenance and repairs. The money will add up over time and be there for when disaster strikes or you decide to make a home improvement.

2.Understand how a repair or renovation will impact the value of your home by researching which renovations create increased value and are popular selling features. Conversely, making unpopular changes could ultimately hurt your homes appeal and value when you decide to sell it.

3.Think long term when making financial decisions. Whether youre using savings or borrowing to renovate, take the time to meet with a financial expert to ensure your renovation meets your long-term financial objectives.

4. Expect the unexpected. Be financially prepared for things to go awry during a project, such as a leaky roof, broken pipe or other course corrections that may occur. This could significantly increase the cost and time it takes to finish a project.

5.Get renovation quotes in writing, and understand what guarantees the contractors provide. For example, if the cost of the plumbing in your renovation is more work than expected, will the quote go up?

Although no one has a crystal ball, financially preparing for repairs and renovations is a smart move for all homeowners!

Published with permission from RISMedia.