When you are evaluating the things that you have to pass along to your loved ones, you will certainly consider the big picture. Being able to make a difference in the lives of your family members financially after you pass away is a gratifying feeling, and we all need a solid financial underpinning. That having been stated, there is also what we will call the currency of emotion to consider. You likely have certain personal possessions that mean a lot to you, and this can include family … [Read more...] about The Currency of Emotion
Estate Planning is a Highly Specialized Field
There are specializations within broader fields of expertise, and we come into contact with this phenomenon all the time. For example, you are not going to want a plastic surgeon to give you a kidney transplant. You are going to want an experienced renal specialist, even though both individuals are fully credentialed and qualified physicians. This is something to consider when you are looking for legal advice as you make preparations for the future with your legacy in mind. All attorneys serve … [Read more...] about Estate Planning is a Highly Specialized Field
Coming Full Circle as a Business Owner
Going into business for yourself is a huge undertaking, and most of us are aware of the fact that the majority of business start ups do not withstand the test of time. Therefore, your primary focus when you first get started is going to be to simply become profitable and stay in business. But at the same time, you do have to keep an eye on the future. Once you have a foothold and recognize that you will be in business for the long haul, you have to come full circle and ask yourself how you will … [Read more...] about Coming Full Circle as a Business Owner
Retirement Preparedness: Early Recognition is Key
As you go through life, you may not feel a whole lot different than you did in the past. You are wrapped up in the challenges of each day and are engaged in the present, continuing to feel as though you are a relatively young person as the years pass. However, the years are indeed passing, and this sense of perpetual youthfulness may be a bit of an illusion. At some point everyone must become aware of the fact that the age of retirement lies in wait, and preparedness can require long-term … [Read more...] about Retirement Preparedness: Early Recognition is Key
Social Security: Access Your Statement Online
Many of the things that we used to utilize snail mail for are now done online. In the big picture it can indeed save a lot of money to share information electronically, and it can be more convenient as well. You may remember receiving annual statements from the Social Security Administration in paper form. In keeping with the trend toward streamlining things, the statements are no longer being mailed to Americans 25 years of age and up. Only those who have reached the age of 60 are getting the … [Read more...] about Social Security: Access Your Statement Online
Slow & Steady Approach to Retirement Saving
Conservative measures can go a long way toward preparing yourself for retirement. You don't have to be able to put away large sums of money every paycheck to keep yourself on a steady path toward the fruition of your long-term financial goals. Even modest efforts can yield significant results given enough time. One of the best ways to save money for retirement is to contribute into the 401(k) plan that may be offered at your place of employment. In many cases the employer will match your … [Read more...] about Slow & Steady Approach to Retirement Saving
Will the Estate Tax Issue Become a Political Football?
The subject of taxes is always going to be prominent in an election year. Of course, 2012 is an election year, and it is an interesting year in the field of estate planning. At the end of the year, the tax relief act that was passed in December of 2010 is going to expire. This measure essentially extended the Bush era tax cuts. It provided a $5.12 million estate tax exclusion this year, along with a 35% maximum rate. As the laws are currently written, these parameters are going to change next … [Read more...] about Will the Estate Tax Issue Become a Political Football?
Beware of Financial Predators
There are two prevalent types of elder financial abuse as defined by the experts: Crimes of opportunity and crimes of predation. Crimes of opportunity are perpetrated by individuals who know the victim. Obviously a lot of elderly Americans need assistance with their day-to-day needs. So, the individuals who help them out are often going to have opportunities to take advantage of the senior in question financially should they choose to go that nefarious route. Crimes of predation involve … [Read more...] about Beware of Financial Predators
Watch Your Spending as Retirement Nears
We are constantly being inundated with suggestions with regard to how our lives will be improved by making certain purchases. Indeed, it can be fun to buy a new car, a boat, take an expensive vacation, or perhaps even purchase a vacation property. But at the same time, if you want to be prepared for retirement you may have to put the brakes on with regard to major expenditures as your projected retirement date starts to come into focus. This is where long-term planning and intelligent, … [Read more...] about Watch Your Spending as Retirement Nears
What Is A “POD” Account?
There are some rather straightforward and simple ways to arrange for the transfer of assets to your heirs after you pass away. One of these is via the utilization of a POD account. The acronym "POD" in this context stands for payable on death. With POD accounts, you name a beneficiary (or in some cases multiple beneficiaries) when you open the account at a bank or brokerage. In the event of your death, the beneficiary assumes ownership of the remaining resources directly, and this transfer … [Read more...] about What Is A “POD” Account?
