A solid financial plan can help reduce stress in your life, but how do can you tell when you’re sticking to a plan? Here are some signs of progress, from your physical comfort to your spending and savings habits.
Trusts and Estates
Retirement is not what it once was. Inheritance is no longer a sure thing to fund your golden years. Paying off a mortgage, once a rite of passage for retirees, makes less sense today. And forget the old saw that 65 is the right age to retire. Increasingly, people are shying away from a date certain.
Estate planning is one of those things you know you need to do but keep putting off. You’ll find this task easier by breaking it down into three essentials: organizing your financial information, communicating your plans and, of course, taking action.
We all make mistakes, and through them, we learn. But when it comes to finances, it is best not to take the trial-and-error approach. Avoiding some of the following financial mistakes might save you a great deal of money and heartache.
Money grows money. Thanks to a magical thing called compound interest, it’s even possible that you leave a multi-million inheritance to your future generations.
When your heirs sort out your estate, they’ll get no directions from you – unless you planned well for one of life’s most emotional moments. Let your loved ones grieve (someday) without rancor. Specify what you want before it’s too late.
It’s a quintessential question: Can money buy happiness? The answer is: Yes, if it goes for the right things. Academic research shows that money buoys your happiness if you spend it on charity or other generous works and on buying experiences rather than things.
One of our nation’s iconic religious figures has some very good advice for retirement. Most retirement guides talk about the money aspect. Billy Graham addresses how you will feel about retiring.
Women can face major financial changes, from a booming business to the death of a spouse. Here are specific transitions that bring additional financial challenges, and how to cope.
Are you one of the many people in a family where you or your partner (or both) brought children from a previous relationship? In such so-called “blended families,” your death might enhance the conflicting emotions and competing interests that ignite inheritance feuds.