People are living long lives these days with the average life expectancy in the United States standing at 78.2 years at the present moment. Of course this is in fact an average and your life expectancy rises as you get older. Many people are surprised to hear that the segment of the population that is 85 years of age and older is the fastest-growing group among us. The reason why we are mentioning this longevity is to underscore the fact that you have to plan for the long haul when you are … [Read more...] about Where Should You Retire?
long term planning
Make Educational Opportunities Possible With 529 Plan
The value of education cannot be overstated, and when you are contemplating your legacy you may ask yourself how you can help your younger family members with college expenses. There are various options, and the one that we would like to highlight here is the 529 plan. These plans provide you with the opportunity to set aside financial resources to be used for the educational expenses of the beneficiary, and this is done with tax advantages built-in. With the 529 savings plan you contribute … [Read more...] about Make Educational Opportunities Possible With 529 Plan
Long Term Planning Aided By Military Benefits
Individuals who make the sacrifices necessary to serve their country in the armed forces are entitled to certain benefits for their service. When you are creating a comprehensive long-term plan for the future these military benefits can be of great assistance, and we would like to take look at a couple of them here. There is a particular benefit that a lot of people are not aware of that can help to defray the cost of long-term care should you need such assistance at some point in time. The … [Read more...] about Long Term Planning Aided By Military Benefits
Preventative Actions Can Have Positive Financial Ramifications
There are some things that are out of your control when it comes to your financial health. It is possible that your income can fluctuate due to no fault of your own, and of course there are market factors that come into play. But at the same time, there are some things that are well within your control and you should take advantage of them to the utmost if you want to be financially secure and eventually leave a robust legacy. Some of these are rather obvious such as creating a cogent … [Read more...] about Preventative Actions Can Have Positive Financial Ramifications
Consider Your Exit
It can be difficult to wrap your head around the concept of retirement when you are a relatively young adult. After all, when you first start out you are probably more concerned about gaining a foothold when you are about accumulating resources for retirement. However, this mentality is to be put behind you as soon as possible. Large numbers of Americans will never retire because of a lack of planning, and the fact is that you have to set goals and execute long-term discipline to reach … [Read more...] about Consider Your Exit
Taking Steps To Remain At Home
It is important to be pragmatic about the eventualities of aging so that you are not suddenly confronted with a situation that you have not made any preparations for. It can be hard to envision such a scenario when you are healthy and fully ambulatory, but there may come a time when you will need living assistance and in fact most senior citizens are going to be in this position eventually. You can of course choose to reside in an assisted living community or a nursing home should you require … [Read more...] about Taking Steps To Remain At Home
Estate Tax Looms In 2011
The estate tax was repealed for the 2010 calendar year, and any form of tax relief is more than welcome for most Americans. However, in 2011 the estate tax will be back in effect, and it is carrying a very significant bite upon its return. The maximum rate will revert back to the level that it was at in 2001, which is a whopping 55%. The exclusion will return to the 2002 level of $1 million. To give you an idea of how this stacks up against more recent times, in 2009 the exemption was $3.5 … [Read more...] about Estate Tax Looms In 2011
Review Your Estate Plan
As life goes on and the day to day twists and turns occupy your attention you may not give your estate plan much thought. Years can pass since you first created the plan, and those years can turn into decades. But over that time it is very likely that your life changed in many different ways. Your extended family may have got larger, your health care needs may have changed, and your financial situation is very likely to be different as well. Plus, things that are entirely out of your control are … [Read more...] about Review Your Estate Plan
Generation-Skipping Trusts
It seems kind of strange in a way, but one of the primary goals of estate planning is to keep your assets intact as you are passing them along to your loved ones. The reason why this reality is rather odd is that you may naively think that what is yours is yours and when you pass away you simply leave your assets to your heirs in their entirety and that's it. But unfortunately, the government feels as though you do not have that right. Estate tax is imposed when you bequeath your assets to your … [Read more...] about Generation-Skipping Trusts
