How to Estimate Your Retirement Income Needs

unsplash-desk5You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors Continue reading

Social Security: Not Just For Retirement

unsplash-family2Approximately 66 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits. (Source: Fast Facts & Figures About Social Security, 2017) Although most people receiving Social Security are retired, you and your family members may be eligible for benefits at any age, depending on your circumstances. Continue reading

6 Ways Your Finances Affect Your Relationships

unsplash-love5If you can’t help falling in love, and you think that love will keep you together remember that the power of love is not enough if you and your spouse cannot agree on how to handle your finances.

Ok, enough of the romantic puns!

According to Psychology Today*, money issues are the top reason relationships fail. Arguments over money tap into some of our deepest emotional needs and fears, such as trust, safety, security, power, control, and survival. Continue reading

The True Cost of Clutter in Your Life

unsplash-desk4It is the beginning of a new year. We have just finished celebrating the holidays and we all received wonderful gifts to add to our already full homes. We look around and wonder where will we put everything. Then we must consider, will we spend more money to buy containers and shelves and storage units to store our ever-growing number of belongings? Continue reading

Who Benefits From a Revocable Trust?

unsplash-friends5A revocable living trust can be a useful and practical estate planning tool for certain individuals. This type of trust is most commonly used to avoid probate because, unlike property that passes by will, trust assets are distributed directly to heirs. This type of trust is also used as a way to maintain management of one’s financial affairs during a period of incapacity because someone else can immediately take charge when needed. Continue reading

What You Need to Know About the New Tax Law

unsplash-governmentThe Tax Cuts and Jobs Act legislation was signed into law on December 22, 2017. The Act makes extensive changes that affect both individuals and businesses. Some key provisions of the Act are discussed below. Most provisions are effective for 2018. Many individual tax provisions sunset and revert to pre-existing law after 2025; the corporate tax rates provision is made permanent. Comparisons below are generally for 2018. Continue reading

Housing Options to Consider When Planning Retirement

unsplash-home4As you grow older, your housing needs may change. Maybe you’ll get tired of raking leaves from the lawn of the house you bought 30 years ago because you liked its huge, shady backyard. You might want to retire in sunny Florida or live close to your grandchildren in Illinois. Perhaps you will need to live in a nursing home or an assisted-living facility. Sometimes, after considering your options, you may even decide to stay where you are. Deciding where to live is never easy, but if you evaluate your options carefully, you’ll find it easier to live with your decision. Continue reading