According to recent studies, the “great wealth transfer” will have baby boomers transferring as much as $72.6 trillion to their heirs by 2045.[1] Estate planning is defined as the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death. Whereas legacy planning is defined as a [...]
We saw record highs in 2021, but 2022 may turn out to be an entirely different story. The market is reacting poorly to the prospect of slow economic growth and the reality of high inflation. We recently saw the NASDAQ have its worst loss since 2020. Many investors may fear a recession amidst a volatile [...]
Do you know how your expenses will change in retirement? You most likely can expect things like your food budget and electrical bills to remain somewhat constant, but certain expenses surrounding transportation and leisure activities might see some drastic changes due to your newfound freedom. It can be hard to wrap your head around how [...]
Unless you had to file for an extension, you’re probably feeling pretty good that you were able to check “Tax Day” off your to-do list. Now you can relax, right? Well, we like to be prepared so we suggest maintaining organized planning to better prepare yourself for your upcoming 2022 income tax returns. Did you [...]
We know life is busy and that you may miss (or consider skipping) doctor’s appointments on occasion. As the cost of healthcare continues to increase, it makes it extremely important for you to account for healthcare when planning for retirement. If your health slides, it can cost you financially, but this can be lessened based [...]
If there’s one thing that we can all agree on, it’s that we lead busy lives. Whether you’re in your final years of working or early stages of retirement, it’s important that you carve out enough time to do the things you love, with the people you love. But the important question remains: Will I [...]
Retiring early can be extremely challenging, but not impossible. You may be able to achieve your goal of early retirement if you follow certain steps to help get you on the right path. However, it will require you to cut down on your expenses, increase your retirement savings, or a combination of the two. First, [...]
After you pass, your debts, just like your assets, are left to your estate. It is important that you make sure that the assets you set to leave behind do not get eliminated entirely by your debts. Understanding debt and how each kind differs is important when developing your estate plan. One of the first [...]
Tax season can seem like a pain, but with some forward-looking planning, it becomes far less daunting. Taxes are often our single largest expense, so they’re crucial to consider in your financial planning year-round. Here are some tips to help you prep for tax filing this year and steps to take to minimize your tax [...]
After first creating your retirement plan, you must constantly review your strategies to make certain that you stay on track toward achieving a safe and rewarding life in retirement. It’s important that you educate yourself and seek assistance from a trusted financial advisor to help achieve your personal retirement goals. In the end, planning your [...]
