Five Surprisingly Common Planning Mistakes Many Baby Boomers are Making
Baby boomers – the first generation tasked with the responsibility of planning for and funding their golden years. This generation, which includes those born between 1946 and 1964, have entered and continue to enter into retirement. As they make this financial transition into retirement, many are learning that they have made some of the most typical retirement mistakes.
But, even if you’ve made a financial mistake or two, there’s still time to avoid these five surprisingly common planning mistakes baby boomers are making in droves: Mistake #1: Believing Estate Planning is Only for the Wealthy; Mistake #2: Checklist Mentality; Mistake #3: Not Completing Your Estate Planning Homework; Mistake #4: Leaving Out Little (And Not So Little) Things and Mistake #5: Not Preparing for Life Events & Emergencies. With my guidance, you will not make these common mistakes.
Estate Planning Best Practices Gleaned From Famous Celebrity Deaths
Discussing death can be awkward, and many people would prefer just to ignore estate planning all together. However, ignoring—or even putting off—such planning can be a huge mistake, as these celebrity stories will highlight.
The next time one of your relatives tells you they don’t want to talk about estate planning, share these famous celebrities’ stories to get the conversation started. Such cautionary tales offer first-hand evidence of just how critical it is to engage in estate planning, even if it’s uncomfortable.
Choosing the Right Life Insurance Policy
While purchasing life insurance may seem pretty straightforward, it’s actually quite complex, especially with so many different types available. In order to offer some clarity on the different types of policies out there, we’ve broken down the most popular kinds of life insurance here and discussed the pros and cons that come with each one.