What makes financial sense for some baby boomers may not make sense for you. There is no “typical” retirement. Many baby boomers want one and believe that they will have one, and their futures may indeed unfold as planned. For others, the story will be different....
WEEKLY QUOTE“Everything you can imagine is real.” - Pablo Picasso WEEKLY TIP Retiring in the near future? A monthly retirement budget is a good idea – and so is a current budget that establishes a schedule for paying down debts and reducing costs before you enter...
What can you do to lessen its impact for your heirs? Probate subtly reduces the value of many estates. It can take more than a year in some cases, and attorney’s fees, appraiser’s fees and court costs may eat up as much as 5% of a...
Is higher education really the prerequisite for success? Do you need a college degree to succeed? That assumption is long-entrenched, and it isn’t hard to see a relationship between education and earning power. Yet the cost and debt linked to getting a degree are so significant...
WEEKLY QUOTE“You can be standing right in front of the truth and not necessarily see it, and people only get it when they’re ready to get it.” - George Harrison WEEKLY TIP The first step to saving money is to figure out where you are spending...
What raises eyebrows at the IRS? Are you worried about being audited? The fear may be overblown – according to Internal Revenue Service data, only 1% of taxpayers had their federal returns examined in 2012. Last year, 12.1% of millionaires had their returns scrutinized, down from...
WEEKLY QUOTE“Friendship is a single soul dwelling in two bodies.” - Aristotle WEEKLY TIP By maintaining an updated business projection sheet outlining expected income and expenses, you can keep a lender posted on how your small business is progressing. WEEKLY RIDDLE What has a tail and head, but no body? ...
Things to check and double-check before you leave this world. Estate planning is a task that people tend to put off, as any discussion of “the end” tends to be off-putting. However, those who leave this world without their financial affairs in good order risk leaving...
5 Common errors to avoid + 2 big factors to consider. Most families that start 529 college savings plans have done their “homework” about these programs. Missteps are made, though, often with the distribution of 529 plan assets. Here are some of the major gaffes, and...
Many myths surround these popular estate planning tools. Living trusts are created with a clearly defined objective: to avoid probate. Misconceptions about living trusts have spread to the point where people think they can accomplish much more than they really do. Here is a realistic assessment...