Changing gears from earning and saving your money to spending your savings is a major challenge for most of us. It’s not that sudden massive shopping sprees or a lavish lifestyle are planned by most retirees — the spending usually involves buying routine things. The challenge is in adjusting to where the money comes from during your retirement.
Money and You
No, It's not only for the wealthy.
You know it. I know it. Just about everyone knows it. Setting up a will and other “in case of emergency” documents is important. But procrastination and misperceptions make it easy to put off getting your affairs in order. One 2019 survey found that 76% know a will is important, but only 40% have one. Let’s look at 5 common myths that may be keeping you from enjoying the satisfaction and peace of mind that comes from accomplishing an important task for yourself, your family, and/or your business.
Buying or starting a business used to be unusual if you were considering a second career. But encore careers as a business owner become more popular each year despite the wide-spread perception of risk. Let's explore what is driving the trend and your options for transitioning in a way that can help safeguard your business dream and your financial well-being.
You have probably seen the articles. Some are long. Some are short. The common thread is that the writer claims there is one perfect and absolute set of questions to ask (and corresponding answers) whenever you interview a potential financial advisor. I don’t think so.
Whether you are a member of the baby-boom generation born between 1946 and 1964, or a member of the generations of younger people that follow, you may be surprised to learn boomers are as likely to buy a business as to sell one.