Blog
Nov
Like most people, you probably have two main lists: Wants vs. Needs. You have your bills, weekly trips to the grocery store, car maintenance appointments, and so forth. However, you also have your eye set on a new boat, or a more luxurious car with all the bells and whistles even though your current vehicle is in perfect condition. Even now, don’t you think we have a tendency to put those wants before needs? But what if you had a lot more money?
Where to Start With Your Newly Acquired Inheritance
Let’s say you’ve recently received an inheritance, and you’re not exactly sure how to invest that money wisely. With the lists of things you want and need to pay for, you might find yourself in a tricky spot on what to put your money towards first. You don’t want to blow through the money that’s been left especially for you, right?
CNN Money released an article this month giving tips about (especially those who have or will be receiving an inheritance) how to prioritize the things that honestly should be paid first.
- Pay off student debt faster
- Use the money for a down payment on a house
- Open a business
- Save more for retirement
- Invest for long-term goals
Apr
Generation Y, or more commonly known as Millennials, are reaching the stages in life that include the start of their career, first day of college, buying their first house or car… Let’s just say it’s a lot of “firsts.”
You can imagine when the term estate planning reaches their ears, it doesn’t automatically turn into a priority; what happens is their face goes from normal to confused. Although understandable, it’s certainly a topic that its importance should really be explained thoroughly.
Think about it.
What if there’s a couple in a domestic partnership and something happens to one of them? If there’s not an estate plan intact, the surviving partner has little-to-no say in the matter of what happens to the other’s belongings or finances.
Even for the young families. What’s next if something happens to the parents? Who will step in?
Take a look at the sourced article for further insight on these scenarios, and spread the word that estate planning really shouldn’t begin at the age of 40 or 50, but sooner.