There are many great reasons to be a stay-at-home parent. To name a few, it can make financial sense when you factor in the costs of daycare. You and your spouse don’t have to juggle two busy work schedules. And, most importantly, you get to spend valuable time with your children as they grow.
People tend to become happier as they age. How can that change our perspective on how we live – and manage our money – today?
When it comes to retirement planning, money issues typically get the most attention. Too often the important non-financial aspects of retirement are overlooked. One of which is the painful prospect of losing people we love as we age, including our friends.
For decades now, owning a home has been considered a financial rite of passage in America. The hope is you buy a home early in your career and by the time you retire, you’ll pay off your mortgage and find yourself living in one of your most important nest eggs.
In 1945, a woman named Eleanor had a difficult choice to make. An employee at a company of which she was a major stakeholder was putting the company in jeopardy. She could either take the necessary steps to force the employee out, or potentially watch the company collapse during a very perilous time.
It’s no secret financial planning can help you grow wealth, reduce anxiety and gain confidence in your future.
But fear, impulsive spending habits, and a lack of knowledge and resources can all stand in the way.
Death is not often enjoyable to think about. But planning for it is an important part of managing your assets and ensuring your loved ones are protected.
In her book, “Top Five Regrets of the Dying,” palliative nurse Bonnie Ware writes that her patients cared more about relationships and happiness than money, fame or success. The most cited regret was: “I wish I had the courage to live a life true to myself, not the life others expected of me.” In a way, many people look at retirement as the freedom to live life more true to themselves, to break away from the demands of the workplace, to spend time how they want, to pursue their dreams. You don’t want to just retire, but rather retire on your own terms.
Contrary to popular belief that everyone dreams of living on the beach or in a chateau in wine country later in life, most people would rather stay put. Almost 90% of people over 65 want to live in their home and community as long as possible, according to a report by the AARP Public Policy Institute and the National Conference of State Legislatures. However, physical limitations or the prospect of a tidy profit may have you wanting to downsize your house.
These days, being the child of a billionaire may not be as auspicious as it once was. Many famous business tycoons, such as Bill Gates and Mark Zuckerberg, plan to donate their fortunes to charity rather than keep it in the family.
