As you approach retirement, your estate plans may differ from those during other stages of your life. During retirement, a comprehensive estate plan must consider your financial needs, ensure they are met, and provide additional safeguards. The following are some ways to develop this type of plan. 1. Purchase Long-Term Care Insurance Having to reside in a nursing home or similar facility for an extended period of time can deplete your estate quite quickly. Keep …
Outstanding debts can be a burden during one’s lifetime, making many wonder what will happen to their unpaid debts after they die. The good news is that in most cases, the debt is passed on to the deceased person’s estate rather than to their loved ones. This means that creditors will first go after the assets in your estate before contacting your beneficiaries. In spite of this, the rules for settling the debts of a …
Debt is a pervasive issue affecting individuals of all age groups nationwide. The burden of high-interest credit cards and lingering student loans can impede the ability of ordinary Americans to purchase a home, go on vacations, or even establish an emergency fund. According to a recent survey conducted by AARP’s Financial Security Trends in January 2024, 42% of Americans admit to having more debt than they can handle. Although this issue predominantly affects individuals in …
With 2023 at our doorstep, it is time to think of our financial goals, no matter your age.
Financial goals require regular investments of money and effort over a long period. Bringing them to life requires a workable plan.
Here are ten financial objectives everyone should have in 2023: