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 […]
What Would You Do With a Million Dollars?
Key takeaways Baby boomers and millennials have vastly different views on money and how to use it. The severe frugality of most millennials likely stems from them watching their boomer parents or other boomers suffer during financial crises in the 80s to the dot com financial crises and the great recession of the 2000s. Budget […]
Renting vs. Owning: Which Is the Most Cost Efficient?
Key takeaways It’s great to have access to subscription services like Netflix, Uber, and all the others, that make life so much more convenient and easy. It’s important to do the math involved when you consider using a service because costs can add up unexpectedly and set your budget way off kilter. Think about the […]
5 Tips to Help You Save Money Over Time
Key Takeaways Take at least two days before buying a cart of “stuff” on Amazon or any other online shopping site. Keep your credit card numbers to yourself and don’t just store them at your favorite sites for convenience. Pack your own lunch and make your own coffee. Eliminate forgotten fees for subscription services. Keep […]
Healthy Relationships Start With Communication About Money
Key Takeaways Many partnered millennials are shockingly unaware of how they use money and even how much money their spouses make. The problem with millennials and money likely comes from their upbringing and the perception that it’s a taboo topic. Not talking about money can lead to financial chaos and broken relationships. Mindful communication about […]
How’s Your Money Health?
Key Takeaways Just as you can have healthy and unhealthy relationships with food, the same can happen with money. Unhealthy money relationships involve secrecy, carelessness, and leverage, whereas healthy relationships view money as a tool for enjoyment, needs, and wants. Check in with your own money relationships to see if you have any unhealthy ones […]
The Grass May not be Greener
Key Takeaways It can be easy to be lured in to moving someplace else when you think you are going to make more money doing the same job. Salaries are higher in big cities and places that are popular to live because the cost of living is higher in these places as well. Before you […]
Saving Later, but Retiring Earlier?
Key Takeaways TD Ameritrade’s recent release of their Millennials and Money survey showed a big difference between the age Millennials expect to retire versus when they will start saving for their retirement. Saving for only 20 years for retirement is hard to do because the compounding effect of money needs longer than that to truly […]
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, […]