The New SECURE Act: The Good News & The Bad News
Key Takeaways The new SECURE Act was passed on December 20th, 2019, and it affects retirement distributions. There are both positives and negatives associated with the SECURE Act. The new rule took effect on January 1st, 2020, and it’s a good idea to know how it will affect any funds you may inherit in the […]
Do You Have a Will to Protect Your Family?
Key Takeaways A whopping 78% of millennials do not have a will or advance directives in place. Without these, your loved ones may run into legal issues if you become incapacitated or pass away. Think of a will as a love letter to your family, taking care of them after you’re gone.
The Impact of Millennials’ Spending and Saving
Key Takeaways The millennial generation is the largest part of the workforce in our country right now. As millennials age, the amounts they’re saving and spending are changing. These saving and spending changes are impacting our economy and will continue to do so for several years.
The Importance of Risk Management
Key Takeaways When you’re examining your finances, risk management is an important part of the big picture. We have insurance for a number of things in our lives, but might be overlooking some that could have devastating effects if you need them and don’t have them. Disability, health, and life insurance are key for peace […]
3 Things You Need to Do to Be Successful
Key takeaways Rational optimism is far different that the stereotypical optimism. Successful people have a reasonable tolerance of risk. Become a rational optimist to be successful in your endeavors.
Having Money Discussions Is Important in a Relationship
Key takeaways Younger generations are handling money differently than those before them. Gen Z and millennials are much more comfortable discussing money. Money is one of the biggest reasons for divorce. Talking about money before marriage is a good thing.
Advisors for Success Minded People
Key takeaways A catch-22 is a situation that keeps you from attaining your goals due to a set of inherently illogical rules or conditions. Younger, success-minded people need professional advice as they accumulate wealth over time. The majority of the professional advice available for success-minded individuals—at the beginning of their wealth building years—is either far […]
Do You Have a Plan In Place In Case of Death or Disability?
Key takeaways Mortality and morbidity are two intangible, yet very important and unavoidable topics to think about. Addressing these topics requires a discussion about death as well as potential medical and disability issues. Having life insurance, an estate plan, and medical and disability insurance in place will provide relief to those coping with the death […]
The Importance of Having Family Meetings
Key takeaways 2 million millennials are currently caring for aging parents or other aging loved ones. Having a family meeting with parents, in-laws, or grandparents to discuss their estates and other wishes before they need help is very important. Communication and understanding in this area will go a long way toward reducing the chances of […]
Your Money Timeline
Key Takeaways When it comes to investing money, the order in which you invest matters. Before investing in anything, make sure your emergency fund is set up and topped off. It’s important to know what your short, intermediate, and long-term goals are in order to know what assets you should invest in and when.