Being wealthy is not a requirement for creating an estate plan. Neither is being old, retired, having a family or owning a lot of assets. If you are a Millennial, and you haven't started estate planning, here's how to get started.
With the average 2018-‘19 cost of college tuition and fees a stunning $35,676 at private colleges and $21,629 for out-of-state students at state schools, according to U.S. News, it’s no wonder many parents and teens are frazzled about how to pay for college.
This fall, millions of Americans will face a more common choice of which health insurance plan to choose during their employer’s annual open enrollment period. Let's take a look at some of the questions to consider when making this decision:
don’t think you will be happy and fulfilled with a life of golf and travel. Most people aren’t. If you are really feeling beat up when you walk out your employer’s door for the last time or sell the company you started, take a year or two off, but then find something you love and pour your heart into it
Estate planning is easy. It’s finite, calculable. What happens when you die? Who gets your stuff? How much will you owe in estate taxes and how can we prevent or prepare for it? You hire a lawyer to draft a will and possibly one or more trusts that provide for what happens when you die. It’s done. Complete. You tuck your documents away in drawer or safety deposit box and sleep well at night, knowing you have taken care of your estate plan. Death is inevitable, so planning for it—while admittedly uncomfortable for some—is relatively easy. Life, on the other hand, is hard.
Now that the fall semester at college has begun, many parents have the high cost of higher education tuition on their minds. Rising college bills, plus the cost of dorms, travel and books really adds up. If you have a child in high school or college, you may want to know about an unconventional and often underutilized way to help pay the tuition: your permanent life (whole life or universal life) insurance policy.
