Keeping an eye on your financial health during a divorce is essential. This article outlines some important topics to consider how divorce may affect your finances. Divorce can be a complicated and challenging process in which details are easily overlooked. Protecting your financial health during this time is crucial, and no one should enter this
Expecting a new arrival? Learn how to budget for your growing family, including child care, insurance, and parental leave. Starting a family is truly one of life’s most fulfilling experiences. Unfortunately, it can also be among the most expensive. Many parents could spend more than $200,000 during a child’s first 18 years. As you consider
Financial mistakes can occur throughout your lifetime. Whether you’re in your 40s, 50s or 60s, it’s important to be aware of financial pitfalls to avoid. Planning is the best way to avoid financial mistakes, and those plans should be responsive to your current age and future needs. The double-squeeze afflicts 40-somethings. People in their 40s
Your investment strategy and estate plan should keep pace as your views evolve. Time changes our perspective on many things, including our finances. Perhaps you used to think that money would solve all your problems, or that you didn’t want to spend your time and energy thinking about your finances. You’ve lived, and you’ve learned.
Lessons to learn from this experiment. Retirement is ideally a happy time of your life, freeing you up to do things you’ve long postponed. However, the prospect of retirement can also cause stress if you’re not sure you have enough money to retire in the lifestyle you’d like. We suggest a dry run: Try living
Your insurance at mid-life: Gauging if you are underinsured. Life comes with all sorts of curveballs. Sometimes, they’re easily overcome and even end up being positive experiences. But every now and then, something unexpectedly serious can happen. When was the last time you assessed your insurance coverage? It may be time to reevaluate your needs.
Say ‘no’ to loan requests and protect your wealth—and relationships. Some people may treat you differently when you’ve acquired substantial wealth. Chalk it up to human nature, but you might find an unusual friendliness mixed with the occasional request for funds—a loan, a gift, a pledge, or some other way to spend your money Saying
Know your options for transferring assets. Some wealthy individuals begin or revisit their estate planning in response to a life event; others do so when their business or career changes. In either case, some key questions need to be asked. What assets are most vital to protect, and how are they titled? In pursuit of
The financial considerations of retiring “earlier” or “later” If you can retire by choice, the question of “when” comes to mind. Here’s a look at the pros and cons of retirement at three different ages. At 62, you can claim Social Security. That alone prompts some baby boomers to consider retiring. Leaving work at 62