Long-term care is something you really need to think about so that you don’t burn through your estate in your later years. According to AARP, 58% of women will need an average of 2.5 years of care, and 47% of men will require an average of 1.5 years of care. If you are in the …
A part of your planning for retirement should be knowing the right time to take your social security benefits. Here are a few key factors to help you take your benefits at the right time. Check your social security statement – You can do so here if you create an online account with the social …
When Should You Take Your Social Security Income? Read More »
Many people mistakenly think that life insurance is something you start thinking about when you get older. There are several issues with that line of reasoning. The glaring one is: what happens to your family if you tragically pass away young? What are other reasons to consider getting your life insurance now? #1 Age and …
Your financial portfolio needs to include a variety of funds and accounts. You have savings accounts, checking accounts, retirement funds, investment accounts, and so on. But could you be paying too much of your gains back to banks and investment companies in hidden fees? Here are a few things to consider. Conduct an Annual Review …
Are You Paying Too Many Fees on Your Funds and Accounts? Read More »
According to credit monkey, the average IRA balance is just over $100,000, and the average 401(k) balance is just under that amount. While that is nowhere near what the average person needs for retirement, it still puts a person miles ahead of the 45% of working-age households that report no savings for retirement. Do you …
When it comes time to purchase life insurance, your two main choices are term and whole life. What are the advantages and disadvantages of each, and which one is right for you? Here are a few things that you should know. How Much Can You Afford? Term life is the less expensive option. This is …
Your financial plan is how you prepare in advance to reach your goals, help your family, and have what you need for a comfortable retirement. But you may wonder how it can be possible to know how much you need and save it up, even over decades of work. Here are a few tips to …
When you ask a financial expert how much you need to save up before you retire, the answer will usually be “as much as you possibly can.” That’s because the real answer is about 20 times what you spend in a year (less any social security or pension you expect). Since that number usually exceeds …
Whether you have a small family, a large one, or you hope to expand your existing family in the near future, you also need to think about how your family would fare if you were to experience a tragic accident. When you consider how much life insurance you need, think about the following three factors: …
According to financial guru Dave Ramsey, retirement funding should take priority over funding college for your kids. Why does he feel strongly, and is there any way to save for both? Why It’s Smart to Plan for Both Some parents have gone as far as to take money out of their retirement funds to pay …
Parents: Build a Funding Plan that Considers Both College and Retirement Read More »
