The Life Planning 101 Podcast

The Responsibility Club

With around 80 million Baby Boomers in retirement or entering retirement, it doesn’t matter if you are one of them or part of Generation X, you might not be able to obtain the same pensions and government benefits your parents enjoyed, thereby placing a much larger burden on your own children and bringing them into the same club.

Surprising Reasons to Be Proactive Towards College Planning

When it comes to funding college education there is not a one size fits all formula. Planning early for college can be life changing. Not only are there possibilities to graduate with a thriving sense of purpose, but also better health and increased financial security. When paired with the college education, stepping stones are created for a successful future.

Do You Cut and Paste Your Decisions About Money?

Many individuals make the assumption that money is about money. Well, it is and it isn’t. Money is a tool…but how it is earned, saved, invested, maximized, leveraged, taxed, lost, protected, spent, given, or inherited can be done in a million different ways. How can the word on the street be the right thing for you, your unique situation, your family dynamics, your past, your future, your goals, your feelings about risk?

Is Your Retirement Portfolio Built to Last?

The only guarantee is that there are no guarantees in life. When you retire there is no guarantee what the next three years will be. And, if you are retired, there is no guarantee what the next three years will be. The key is to plan for just this.

Did You Miss This in Your Retirement Plan?

Have you considered your marital status during retirement – and its financial and social impact on you? According to the US Census Bureau, 42.4% of people over age 65 were single in 2015 and 1 in 4 of those was a widow or a widower. So whether you are already single or believe you will never be single - this is for you.

Long-Term Care Insurance

I urge you to consider long-term care planning as a chapter in your estate plan. Yes, long-term care insurance is lousy, but it may be the only option. Would be worth giving up ½ of 1% of the return on your estate to protect your estate? Just remember plan for it when you don’t need it, because when you do need it; it will be too late.

Estate Planning for Blended Families

According to the US Bureau of Census, 1,300 new blended families form every day. Sadly, too many estate planners employ a canned estate plan that only employs solutions for traditional families when simply traditional planning does not work!

Our Economy

If today is the first day of the rest of your life, how long will that be? 20 years…30 years…40, 50? People don’t plan to fail; they just fail to plan.

Chance for Tax Reform Better Next Year

Don’t let Uncle Sam stick you with another 2016 tax bill. Here are 7 deductions that allow you to not only keep, but potentially grow your money.

Family-centric Wealth Planning

Frank Mullins, CFP, Chartered Advisor in Philanthropy, Family Wealth Consultant with Legacy Wealth Counselors is our special guest this week. Find out what family-centric wealth planning is and how it can benefit you and your family.

Titling of Assets and Beneficiary Check

Every year during our Life Planning Reviews, we take a look at the titling of assets and beneficiaries and list these out for the families we work with to find the holes before someone steps in one.

Too Much Information

There is no doubt that the instant availability of information has been life changing. However - if we aren’t careful - it could be our demise.