If you’ve woken up in the middle of the night to a money-related panic attack, you’re not alone. Our financial situation dictates so many parts of our everyday life. That said, excessive stress is a concern that should be addressed.
financial planning articles
Retirement can sneak up on you.
Saving enough for retirement while carrying and paying off debts can be an uphill battle. For some pre-retirees, debt repayment is the primary focus over savings, leading them to delay or reduce their retirement lifestyle. But if you’ve been struggling to save, It’s never too late (or early) to take steps to encourage you to get back on track.
If you want to make charitable donations before the end of the year, you’re not alone. According to Giving USA, an estimated $484 billion was given to charity in the U.S. in 2021, a 4% increase from 2020.
The probate process can be expensive for some estates. Settling an estate through probate can cost you both time and money. It could take up to a year for the estate to be settled, plus attorney’s fees, appraiser’s fees, and court costs may eat up as much as 5% of a decedent’s assets. Probating an estate valued at $400,000 could cost as much as $20,000.1
The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels.
A classic retirement preparation rule states that you should retire on 80% of the income you
earned in your last year of work. Is this old axiom still true, or does it need reconsidering?
Some new research suggests that retirees may not need that much annual income to keep up
their standard of living.
How might it affect you?
Agreeing about what you want from retirement is crucial.