Here’s how to get a jump-start on creating a system to organize your bills, statements, policies and other financial paperwork. Financial organization is a cornerstone of a healthy financial life. At the most basic level, financial organization saves time and money because it aids in paying bills on time, finding needed documents during tax season, …
Nobody looks forward to discussing finances and elder care with their parents, but every family needs to do it. These tips will help you start the conversation now and get a plan in place before you urgently need it. Most of us have always thought of our parents as the people who took care of …
Worried about having enough saved for retirement? Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you’ll reduce the lump sum needed to generate the necessary income at retirement. Surveys show that most baby boomers plan to work in some capacity during their retirement years. …
A Workable Solution for Baby Boomers Near Retirement Read More »
Some parents are obsessed with getting their children into top-ranked schools no matter the cost. You can save a lot of money by understanding what truly leads to the best outcomes for your children. With some schools now costing more than $300,000 for a single bachelor’s degree, it’s incredibly easy to overspend and think such …
6 Factors That Predict A Student’s College Success Read More »
Premarital financial planning can help a couple start off on the right foot. Whether it’s a first marriage or a subsequent union, make it a priority to discuss these seven issues before the big day. Budget planning Once married, your expenses will likely change. Sit down and figure out what your expenses are likely to …
6 Financial Planning Issues to Cover Before the Wedding Read More »
An untrustworthy executor can foil even the most well-designed estate plan. Use these guidelines to select a reliable executor—one who will assure that assets pass to their rightful heirs. Think about what will happen to your assets after you die. I’m not talking about wills, trusts, or other estate-planning tools used to specify who inherits …
Inheriting a fortune may prevent a life of financial hardship, but the inheritance may bring other problems. Consider how much to leave your kids by asking some important questions. A popular belief today is that too much money spoils kids. Over the years, several heirs have gone public with their stories about the corrupting influence …
Forty-six years and seven husbands after inheriting her $40 million Woolworth fortune, Barbara Hutton died with a mere $3,000. Learning from her mistakes, you may better prepare your children and grandchildren for stable futures—both financially and emotionally. At the age of 10, Barbara Hutton, granddaughter of F. W. Woolworth and niece of E. F. Hutton, …
The Woolworth Misfortune: How Not to Provide for Heirs Read More »
If you are wealthy and reaching your distribution phase, your high-balance retirement accounts can create some burdensome tax situations, particularly when it comes to legacy planning. Here are five potential pitfalls you should be aware of. Most people are very proud of their wealth. And why shouldn’t you be? You’ve worked your entire life to …
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