Archive: Life Stage Event

Joint Planning for Retirement

Research has shown that less than 40 percent of couples plan for their retirement together.  If you and your spouse are both nearing retirement age, the way you plan (or don’t plan) together can have a major impact on your quality of life during retirement.

Paying Off a Mortgage Early

Taking out a mortgage loan to buy a home has become commonplace among homeowners, allowing them to buy a home over time rather than paying a lump sum that many people can’t afford. However, after a few years, the shine of homeownership can wear off and mortgage payments become just another bill to pay.

Teaching Kids About Money

As a parent, it’s your responsibility to teach your children about the world, including how to manage money. Financial literacy is one of the most important lessons you can impart on your children to make them successful in adulthood. Raise fiscally responsible children by teaching them the right lessons for their developmental level. Teach them the basics from a young age, and build on them as your children grow up.

Planning for Your College Savings Needs

The importance of higher education has risen in the past few decades, with an incresaing number of jobs requiring a college degree to even be considered for the position. According to the U.S. Census Bureau, those with a bachelor’s degree will earn nearly twice as much over the course of their lifetimes as those who have only a high school diploma. This means that rather than facing the choice of whether children should attend college, more and more parents are instead faced with the decision of how they will pay for it.

Costs of Senior Living Alternatives

Choosing a senior living option that’s right for you can be hard, and choosing one that’s right for both you and your budget can be even harder. Before you narrow your focus to any one housing option, make sure you know the cost of each and the impact it could have on your finances.

Marriage Rights and Benefits

Saying “I do” and signing a marriage license change your legal rights significantly—marriage comes with more than a ring and a new last name. There are at least 1,138 tangible benefits, protections and rights that come with a legal marriage, according to a 2004 report from the U.S. General Accounting Office. These rights can benefit you in all aspects of your financial life.