Two Documents You Should Have for End-of-Life Planning

04.08.2020 | Category: Understand how life insurance works

Talking about the type of care we want in our final days is something our culture tends to avoid, but a growing number of people believe that the value of such conversations far outweighs the discomfort.

As important as it is to talk about our end-of-life wishes, it’s just as important to create a legal record of those wishes. To ensure that your wishes are carried out, especially if you become physically or mentally incapacitated and unable to express those wishes, experts from both the health care and legal professions recommend you have two important documents in place:

3 Things To Sell When You’re Ready To Take Your Wealth to the Next Level

Yaёl Bizouati-Kennedy  Sat, May 6, 2023 If you’re financially stable and want to take your wealth to the next level, there is a rather easy way to go about it: Sell some of your most valuable goods. Some of these items might be even more valuable than anticipated, enabling you to convert the newly earned cash into investments — and ultimately generating more wealth.

 “We often overlook the potential value of the items we’ve collected over the years, but what might seem like clutter to us could be a dream purchase for someone else,” said Andrew Latham, CFP and managing editor at Supermoney.com.

10 Ways To Build Wealth Fast

John Csiszar   Fri, May 5, 2023

Wealth-building is a process that generally takes time. Although the idea of becoming an overnight millionaire is appealing for many, the only real way to get rich overnight is via speculation, an inheritance or a lottery win.

Ironically, the best way to build wealth "fast" is to chart out a prudent path toward long-term gains. The quicker you can save and invest, the faster your money will compound, which is the true magic behind building wealth. Here are 10 ways you can grow your net worth as rapidly as possible without taking on undue risk.

Are You Ready For Your First Year Of Retirement?

These Are 5 Things You Might Not Expect — But Definitely Need To Prepare For

Amy Legate-Wolfe  Thu, May 4, 2023

You prepare for retirement your whole life — maybe as far back as your teenage years and that first check. You put cash aside. You invest. You live within your means and when the time comes, you downsize. So are you really, truly ready to retire?  That depends.

Even with decades of planning and saving, surprises are likely to come your way that first year of retirement. Before the unexpected hits, here are five strategies retirees, and those about to take the plunge, need to put in place.

30 Money Moves That Could Set You Up for Life

Gabrielle Olya   Thu, May 4, 2023

Make Your Savings Very Hard To Get At

One of the keys to growing your savings is to keep the money in an interest-bearing account and don't touch it. Open a separate savings account at a bank you don't typically use. An internet bank can be good for this purpose since you won't be able to walk into a branch and take out the money.

Don't link your debit card to your savings account. When you want to deposit money, you can use mobile upload if available, mail in a check or go to a branch if it's not an internet-only bank.

7 Things You Must Do To Create a Plan for Your Money

Brought To You By  JP Morgan Wealth Management

Do you need help with your finances but don’t know where to start? You could probably use a financial advisor, someone whose job is to help you draw up a financial plan and get you back on track.

A financial planner can assist with some or all of your money issues by helping you create a personalized plan for your situation. They can help you plan for retirement or college, offer guidance with saving or paying off debt, work with you to build an investment portfolio and more. You might choose a financial planner for a limited purpose or for expansive help with your complete financial life.

6 Financial Pros Share How They Would Invest $100,000

Jaime Catmull   Thu, May 4, 2023

What would you do if you got a financial windfall of $100,000? In the current economy, it’s tricky to figure out the best way to make the most out of a large sum of money, so I posed that question to six finance and investing professionals to find out what they would do in that situation.

Here’s what they said.

Suze Orman Shares Advice for Paying Down Your Mortgage Faster

Personal finance guru Suze Orman has a cornucopia of helpful advice. Among her tips, she suggests paying off your mortgage by the time you retire.  Whether you have a 15- or 30-year mortgage, here’s Orman’s advice for paying down your mortgage faster.

Why Should You Pay Off Your Mortgage as Quickly as Possible?

Putting extra money toward your mortgage might seem like a financial hardship. After all, your mortgage loan is set up to pay out within 15 or 30 years — all you have to do is make the required payments in full and on time. Plus, isn’t it better to invest or save any extra money you have in your budget?

How Financial Literacy Changes Once You’re Retired

Apr 28, 2023   By John Csiszar

Financial literacy covers a wide range of topics, from budgeting and saving to investing and planning for retirement. Once you retire, however, financial literacy broadens to include scenarios that may not have been as relevant during your working life. For example, income typically drops in retirement, while expenses may remain the same or even rise, depending on the type of lifestyle you lead and the condition of your general health.

6 Terrible Mistakes To Avoid When Paying Off Your Mortgage Faster

John Csiszar  Tue, May 2, 2023

On the face of it, paying off your mortgage faster sounds like a great idea. You can shorten the time frame that you have to make payments and you’ll save potentially tens of thousands of dollars of interest along the way.

But there are both good ways and bad ways to pay off a mortgage early. If you don’t approach your mortgage prepayment in the right way, you could end up paying much more than you thought, and could potentially even leave yourself in a worse financial situation.