Personal Financial Planning
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Now is the time of year when we get together for traditional family gatherings. On a less joyous, but equally important note, it’s also an ideal time to have important conversations with parents, siblings and other close relatives about their estate plans. Sure, you have to pick your moments carefully, and not everyone’s going to be in agreement. But, this recent Kiplingers Personal Finance article had some great tips (albeit pretty basic) about getting end-of-life documents in order. If nothing else, you want to make sure you have four key documents accurate and up to date:
Many of those from generations past fought fervently to live out their lives within the comforts of their own home. In fact, the stigma that went along with moving into a long-term care facility or retirement home was so well permeated into the minds of our predecessors that we ourselves may have considered that our retirement savings were indeed to simply fund a life lived at home on our front porch until the end of our days. Jokes about sending someone to the “H.O.M.E.” have finally started to fade away as all-inclusive resort-style retirement homes pop up around the country, leaving many to count down the days until their retirement ‘vacation’ arrives!
While the economy has struggled to fully recover from the economic crisis in 2008, individuals can use the recovery period and low rates to benefit their future retirement. Rates have been at their lowest and you do not need to be the borrowing party in order to benefit.
The credit industry has recovered from the economic recession and the offers will soon be flooding your mailbox. These offers are often disguised to look like personal, handwritten letters so that you are not quick to toss them in the shred pile. In 2010, it was estimated that 2.25 billion credit card offers would be mailed to individuals, according to a national credit card research firm called Synovate. This number of mailed offers almost quadrupled 2009, according to direct market research firm Mintel Comperemedia - that is nearly 4-5 offers for every person in the US.
Have you worried yourself sick stressing over money? Stress can be a leading factor in declining health problems and one of the biggest stress contributors is financial problems. Worries over money is not isolated to lower-income households either, as financial arguments occur in a variety of homes and is the leading cause of relationship problems. Headaches, stomach aches, and sleep problems due to financial stress can lead to more serious health issues when the problem becomes prolonged.
Marriage is more than a romantic relationship – it is a financial partnership between the couple. For better or worse, married couples must work together on their financial goals...
With the economic troubles and the skyrocketing cost of college loans, many parents are finding themselves stuck in the predicament of adult children returning to live at home. This trend has become what’s known as “boomerang children” – ones who leave home to attend college or live on their own, but later are forced to return to the comforts of their parents’ home. Having increased so much in recent years, there was even a popular movie starring Matthew McConaughey who returned to home at the age of 35. It is reported that over a third of adult children under the age of 34 are living with their parents.
With the outlook for college graduates improving each year, graduates are able to land a first-time job and pay off college debt much faster than those in recent years. The National Association of College and Employers projects that 9.6 percent more graduates will be hired from the class of 2015 than were hired from the class of 2014. This hiring increase continues to rise year after year, since late 2002 when the group began to survey employers and graduates.