Should You Create A Trust Fund?

Should You Create A Trust Fund?

In previous years, establishing a trust fund was viewed as a tool for high net worth individuals looking to preserve wealth. “But in recent years, there has been new awareness.”
If you have assets and you are looking to create a legacy for your children, a trust can be a strategic part of estate planning.

“The most popular type of trust is a revocable living trust, which is a written document that appoints a trustee to manage and administer the property of the grantor.”

6 Ways To Avoid Outliving Your Retirement Nest Egg

6 Ways To Avoid Outliving Your Retirement Nest Egg

Many Americans are wondering how they can build a nest egg that will last through retirement age. “The easy answer is to save early and often.”

Set your saving target by estimating how much income you’ll need to replace in retirement (one rule of thumb is 80% of your working income). You will need to also consider your monthly expenses and any price fluctuation.

Double Your Productivity, Increase Your Wealth

Double Your Productivity, Increase Your Wealth

It’s December, and while many of us are preparing for the Christmas holiday, we are also taking time to “reflect on the past, and plan for our future.” As we plan for the 2016, one of the most important things to discover is the power of productivity.

“We’re all saturated with information, content, distractions, and shiny objects.” “The Information Age is an incredible time to be alive, but suddenly we’re all responsible for effectively sorting all of the opportunities and demands that come our way.” “In fact, even just a few minutes of inefficiency in a normal workday can mean hours of lost time in a year, let alone a lifetime.”

Forbes 2016 Investment Guide: The Future Of Your Money

Forbes 2016 Investment Guide: The Future Of Your Money

Amazon has changed the way we handle digital transactions, and Apple has revolutionized the way we communicate with products like the IPhone, and the IPad. “The affects of digital disruption will soon affect every aspect of your money: how you save, invest, spend and borrower.”

“In the 2016 Investment Guide, outlined are the top picks for the start-ups that will disrupt the financial services industry-with money advice you can and should act on.”

The future of money defined.

AutoOptimal-An asset allocation and tax strategies will become automated as smart robomanagers like Wealthfront and Betterment monitor your accounts and make preauthorized changes. Read more

Don’t Fall Into The Social Security Trap

Don’t Fall Into The Social Security Trap

“Every year, Americans give up thousand of dollars of income by filing for Social Security benefits too early.”

A study issued this month, looked at tax data for Americans born in 1940, and data showed that many people file Social Security to early. “It found that about a third of people who file for Social Security benefits had enough assets in individual retirement accounts (IRAs) to make up for two years of Social Security checks.”

Why are Americans doing this? Some may want to leave their IRAs to their heirs. You can’t leave your Social Security benefits to your children or to charity after you’re gone, while others are concerned about health and longevity.

“This question of health and longevity is the key to getting the Social Security filing question right and if you really think you might die in your 60s, it might make sense to settle for a smaller but earlier Social Security check.”

“Even if you feel great, you might not want to blow your whole IRA now to get the highest possible Social Security payoff over your lifetime.” “The key is to be strategic to filing for Social Security when you stop working, to ensure your spouse is left with adequate income.”