Reasons Millennials Need an Estate Strategy
You’re young, have little in savings and likely have no one yet relying on you financially. So why do you need to think about estate management? Here are four great reasons that you, as a millennial, should have an estate strategy. It's going to make perfect sense!
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Retirement Realities
Predicting exactly what your retirement will be like is about as possible as a meteorologist predicting the weather correctly every single time. In fact, few retirees find their financial futures playing out precisely as they assumed. But, understanding some of the more common assumptions about retirement may help you get closer to your goal than most.
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Where Will Your Retirement Money Come From?
For many people, retirement income may come from a variety of sources. The Insured Retirement Institute, 2016 survey stated that 30% of baby boomers have found it difficult to pay mortgages or rent and have postponed plans to retire! Here’s a quick review of the six main sources of money for retirement!
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Looking At Personal Finance Apps
Mobile applications have become ubiquitous. While many of these apps are games and social media platforms, an increasing number have been developed to help individuals with their personal finances. Which leads to an interesting question: what should you look for in a personal finance app?
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The Average American Budget
The average American household earns an average of $78,635 a year before taxes and spends over 77% of that on “basic needs.” But studies have shown that regardless of income, budget percentages remain the same across categories. So, how does your household compare?
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Investing for Impact
Many investors are looking to build a portfolio that reflects their socially responsible values, while giving them the potential for solid returns. That’s where SRI Investing, Impact Investing, and ESG Investing may play a role.
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Healthy Body, Healthy Pocketbook
Many people have a clear vision of what their ideal retirement looks like. Some desire vacation homes in tropical destinations, while others plan to spend quality time with their grandchildren and family. We know that many of these dreams will come with a price tag, but of all the activities in retirement that you're saving for, have you considered the costs associated with necessary services, like health care?
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4 Great Reasons to Invest in 2020
Over half of Americans do not own any stocks, or stock-related investments, such as mutual funds, according to Bankrate’s Money Pulse survey. Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the reasons may not be good enough.
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Mortgages in Retirement
Anyone who has gone through the process of mapping out their retirement knows there can be a lot to keep in mind. One question many people overlook is: “Should I pay off my mortgage before I retire?” The answer is more complicated than you may think.
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Emergency Funds: How Much is Enough?
If saving several months of income seems like an unreasonable goal, don’t despair. Start with a more modest target, such as saving $1,000. Build your savings at regular intervals, a bit at a time. It may help to treat the transaction like a bill you pay each month.
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