Personally, there is nothing more relaxing and exhilarating than being on a sailboat with a 15-knot wind on your beam (side), listening to the soft sounds of water splashing against the bow and using wind energy to propel the boat forward.
Market declines like the one we are currently experiencing present great opportunities to take advantage of cheaper asset prices. Almost everyone with a taxable account should be harvesting tax losses during times like these.
This guide can be for one spouse upon the death of the other, for an executor or successor trustee, or for adult children upon the death of the second parent. It may seem morbid to think about, but keep in mind that the more homework you do upfront, the easier it will be on the people you leave behind. This information should be shared with the appropriate parties and updated as needed, at least annually.
We want to ensure you are thriving, as living a healthy and successful life is truly priceless. Of all the steps that can be taken toward financial security and peace of mind, planning our own death and incapacity is the least popular. Life goals dominate our consciousness, and these goals are often about ourselves. Estate planning is not as much about us as it is about the people and things that we love.
Caring for aging parents can be daunting. What are the factors to consider? When should planning start? In this article, we’ll explore the importance of creating a care plan.
Many people are familiar with the basic benefits available to veterans, but did you know there are programs that could be beneficial tools in building a financial plan? In this article, we will discuss several programs, resources and benefits that are available to qualifying veterans that could become a piece of their financial planning puzzle.
There is nothing that can kill the romance of upcoming nuptials more quickly than your partner asking you to sign a prenuptial agreement (aka prenup). But do you know what can really kill the romance? Divorce!
Did you know that your IRA beneficiary supersedes your will? No matter how carefully you’ve crafted your last intentions in your will, an IRA beneficiary that was never updated after your divorce and remarriage can unwittingly bestow your former spouse with your IRA inheritance, while also disinheriting your new spouse and children. That’s why it’s important to update your beneficiaries after major life changes such as marriage, divorce, births, illness, domestic issues and deaths.
A 529 plan is a great vehicle to start saving for your child’s college education expenses. Much like your 401(k) plan at work, 529 plans offer a set list of investments and the assets inside can grow tax free. We have created some projections to help you understand what balances you might expect if you save $50, $100, $200 or $300 monthly along with some key takeaways.
When thinking about our own personal assets we have many choices. We can hold on to them (having our cake), swap them out (trading for a different cake), or sell them and buy a consumable asset (eating the cake).