Scarcity Versus Abundance Mindsets
Key Takeaways A recent Prudential Financial survey of Millennials found that most of them had a rather somber view of their retirement years. Millennials grew up in a time of great technological advancements, but also some very significant events that have shaped a scarcity mindset when it comes to how they feel about the future. […]
Building Your Retirement Pyramid
Key Takeaways A recent Aperion Cares survey found that one third of Millennials thought they could live off $200,000 in retirement. AARP says today, you need about $1.18 million to live off $40,000 a year in retirement. While it may seem daunting, getting to $1.18 million by the time you retire is not hard considering […]
Investing Expectations
Key Takeaways There’s a big difference in what the Millennial generation expects in terms of returns on investment in the stock market versus what their parents, the Boomer generation, expect. Going back over 100 years, the return on investment in the stock market is about 10%. There are three things to keep in mind when […]
All Together Now – The Wealth Portal
Key Takeaways There are many apps out there that can help you track your finances separately, but it’s cumbersome and time consuming. A wealth portal puts all your finances in one place, providing you with a quick summary that you can easily glance over once a week to ensure nothing is amiss. Using a wealth […]
Save First, Spend Second
Key Takeaways If you want to build wealth successfully, you need to save first and spend second. The rule of thumb when it comes to saving is to save about 15%. If you spend first, you can get used to the niceties in life, and then it can be very hard to have to go […]
Half the Clothes, Twice the Money
Key Takeaways When we get ready for a vacation, we typically pack too many clothes and don’t budget enough money. When we make big purchases, we tend to forget all the associated costs that come with buying the item. If you plan in some extra money beyond the main cost of what you are purchasing, […]
DIY Love Letter
Key Takeaways Over the past decade, there’s been an increase of do-it-yourself will software. There are several reasons you should not do a will yourself, especially as there are some common mistakes when creating a will that can cause your assets to not go where you want them to go. Paying to have a will […]
Transitional Ownership
Key Takeaways Transitions in life directly affect how ownership changes. Several primary forms of ownership include Sole Ownership, Joint Ownership, Tenancy in Common, Tenancy by the Entirety, Trust Ownership and Guardian of Assets. It’s important to understand that ownership changes when major life events happen so that you can plan for these changes and ensure […]
Own Your Position
Key Takeaways Handling someone’s estate is something you may only do once in your lifetime and it can be a very emotional, daunting process. Estate plans can be executed during someone’s life should they become incapacitated, and upon a person’s death as well. It’s important to seek help from a professional when it comes to […]
Financial Literacy—Not an April Fool’s Joke
Key Takeaways April is National Financial Literacy month. It calls attention to how much work people of all ages have to do to improve their money skills. Over 120 million Americans do not have estate plans. It’s never too early to start one. The majority of people in their 70s could run out of money […]