Today’s household might not be multigenerational under one roof but most people in their 40’s and 50’ do have to think about supporting their multigenerational family. If you are part of this so called sandwich generation, there are a few strategies for you to manage this family dynamic.
It’s easy to get discouraged when we haven’t saved the amount we would like for retirement. However, it’s more beneficial to use that energy toward fixing the issue rather than dwelling on past mistakes. There are several ways you can catch up on your retirement savings and it’s never too late to begin.
Just reading the words “estate planning” conjures up many emotions and thoughts for people. Some think estate planning is only for the wealthy or the retired. Others don’t want to think about it at all because it is a reminder of our own mortality. The truth is, estate planning is extremely important for everyone, no matter your age or the size of your estate.
If you don’t already know the basics, it’s time to get familiar with life insurance!
In today’s do it yourself world it can be easy to feel that financial advice can be found by searching online. Much of that mentality is driven by the belief that financial planners are just for those that are rich. Debunking the myths about who really needs financial advisors and the best way to find the right advisor is an important discussion.
Spring cleaning doesn’t just have to be for around the house. Your finances may be in need of a little spring cleanup as well. There are several important areas of your financial situation that probably need a review annually.
If you’ve taken steps to protect those who depend upon you – such as obtaining life insurance, writing a will, or developing a trust – give yourself a pat on the back. If you haven’t taken those steps, you should. Having a will and/or a trust helps to ensure that your hard-earned assets are distributed properly, and life insurance can help your spouse, children, and any other dependents meet their financial needs if you can’t.