Creating Financial Plans

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Financially Well? 8 Questions

Submitted by Rick Kahler on Friday, March 25, 2016 - 4:00pm

One of the most important financial journeys we can take is the path to financial wellness. Building financial security and independence, while certainly important, makes up only one slice of the whole financial wellness pie. Financial wellness also incorporates the ways that wealth and income affect our emotional and physical well-being.

Disaster Planning

Submitted by Joseph A. Clark on Friday, March 25, 2016 - 11:00am

Great financial planning requires you to employ two contrasting skills: Focus intently on your end objective, whether a comfortable retirement or a certain net worth; yet remain flexible for the inevitable bumps in the road. How can you balance the two? What financial tools can help you most?

Post Divorce Critical Actions

Submitted by Wendy Spencer on Tuesday, February 2, 2016 - 12:00pm

You might view divorce as a series of distinct steps: filing the paperwork, negotiating with your ex, getting a settlement and reaching the end of your marriage. Yet still more work – sometimes lots of it – remains after your divorce.

First, your settlement agreement likely stipulates actions and tasks that you must finish, often under deadlines. Develop a checklist with each action item and due-date, with room for comments and additional steps.

Vital Elder Care Details

Submitted by Mark Rogers on Monday, February 1, 2016 - 12:00pm

Health-care costs for seniors receive a lot of attention, but many people fail to consider other important aspects of elder care. Tackling difficult conversations about elder care now helps you make informed decisions about this unavoidable stage of life.

Advances in medicine and nutrition mean that people live longer. According to the Center for Disease Control, Americans who live to age 65 have about 19 years of life ahead, including nearly 14 years in relatively good health.

Prepare for Scary Events

Submitted by Josh Patrick on Monday, February 1, 2016 - 9:00am

Scary things happen in life. Here’s how to make thinking about them easier.

You love your family and want to make sure they’re protected if something happens to you. One way to plan for disaster: Manage your risk.

The right variety of personal insurance. You already hold insurance for your car or home. Chances you need other insurance loom greater than you think.

Wedding Cost Issues

Submitted by Wes Moss on Friday, January 29, 2016 - 9:00am

Weddings are a cornerstone of American culture. As with many cornerstones, the cost continues to rise. So does the price of not finding out beforehand how your betrothed feels about money.

Nuptials steadily become more complex and expensive: odd-shaped invitations that take $2 postage stamps; different brides’ dresses for the ceremony, the reception and the after-party; or waterfall decorations. Couples even hire photographers with aerial drones to capture overhead shots.

Finance as Aphrodisiac

Submitted by Claire Emory on Friday, January 29, 2016 - 12:00pm

You likely hear all the time about how much couples spend on each other, the kinds of gifts they buy and how all of us can save money delighting our significant others. Less well-known: Most people actually find a mate more attractive if that person freely talks about personal finances.

Fair Inheritance Division

Submitted by David John Marotta on Thursday, January 28, 2016 - 12:00pm

Nothing ignites family arguments like inheritance. If you plan to leave money to more than a few beneficiaries, for the sake of peace and your own emotional legacy, know how to divide the proceeds fairly.

First, you can divide your estate among however many heirs you want: three, seven, 11 or 13 and so on. Here are best practices for how to divide your wealth.