The COVID-19 global pandemic and resulting economic uncertainly have had a profound effect on our sense of safety and control. The closest experience that many of us have had in our lifetimes was the financial crisis in 2007-2008 followed by a deep recession. Although the root causes are dramatically different, the impact on our sense of financial well-being is similar. Few of us expected to face such challenging economic circumstances again within such a relatively short period of time. (more…)
Your estate is made up of all your money, property and assets – and it’s alive. Not literally, but think of it like a beautiful, low-maintenance house plant. Once purchased and placed in the perfect spot in your home, you just need to provide it a bit of care to keep it from wilting. Once you have a solid estate and wealth transfer plan in place, it needs to be updated when your life changes. Which specific instances call for an edit? Glad you asked. (more…)
Recent studies indicate that the pandemic has prompted many to reevaluate the meaning and purpose of wealth. For example, the annual “Modern Wealth Survey” revealed that lifestyle priorities have changed for a majority (68%) of Americans due to COVID-19. Among those who reported that their priorities had shifted, top choices included mental health (69%), relationships (57%), financial health (54%), and physical health (39%). (more…)
During this pandemic, you may have family or friends whose health has been directly affected by COVID-19. And the longer you live, the more people you know will face significant health concerns. Making sure you and your family are prepared for these situations – now and in the future – is an act of kindness. (more…)
Adding a family member is an exciting time. Decorating the nursery, picking out names, going to baby showers, and attending parenting classes all prepare you for your baby’s arrival home. But with the joy of a new family member comes additional responsibility. A whole lot of it. After all, your child is 100% dependent on you for all his or her needs.
According to Charles Schwab’s 2020 Modern Wealth Survey, 57 percent of Americans say they or a close family member have been financially impacted by COVID-19. In addition, nearly 15 percent reported being more financially stressed as compared to the end of 2019 before the widespread outbreak, and express concern that their increasing stress might have a lasting effect. (more…)