Now that we have ushered in a new year, it is time to make good on our resolutions. The suggestion here is to take this motivation and use it to start building your future in 2013.
Planning is the difference between people who are comfortably retired with the ability to leave behind a robust legacy and those who are not. If you work with an experienced financial planning attorney to devise a sensible plan that is consistent with your capabilities and your objectives, you will be working toward a bright future.
On the other hand, if you don’t do anything at all and simply seek gratification in the present, you may never be able to retire.
And in the end, you may look your children and grandchildren in the eye someday knowing that you have no ability to leave behind anything of significant financial value.
In addition to the financial element, there are also elder law issues to think about. How will you pay for long-term care if you need it someday? It costs over $100,000 per year to reside in a nursing home in California. 40% of seniors will need nursing home care, and 10% of them will need it for five years or more.
We make plans for all different types of things, but far too many of us have no game plan for life itself. Take advantage of the sense of renewal that we all feel when a new year rolls around and use that momentum to take action to set up a consultation with an experienced local San Jose retirement and estate planning lawyer.
- The SECURE Act – the Gift That Keeps On Giving - September 28, 2023
- The Importance of Hiring a Probate Attorney (VIDEO) - September 27, 2023
- IRS Confirms Grantor Trust Status Alone Does Not Cause a Step-Up in Basis - September 14, 2023