How to raise financially savvy kids

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Every parent wants to raise their kids to be self-sufficient adults who feel empowered to achieve anything they want in life. One way to set children up for success is to be honest with them about financial topics and teach them money management skills starting at a young age.

The Early Years

When your kids are young,…

What is lifestyle inflation and why does it matter?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

One of the secrets to building lasting wealth is to consistently spend less than you earn, which can be hard to manage no matter what your income is. As tempting as it may be to spend more as you make more, it’s important to stay focused and watch out for the common pitfall known…

Should you retire with your spouse?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Many couples dream of retiring side by side. Due to factors like health, employment preferences and household finances, however, life often calls for a change of plans. Surprisingly, retiring a few months or years apart often leads to happier results overall, especially when it comes to money matters. 

Finance Strategies

If your retirement nest egg could use…

How to create passive income

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Creating passive income is all about careful strategizing and making the most of your time and money. Whether you’re looking for additional security during retirement or plan to retire early, developing multiple passive income streams can supplement or replace your existing sources of income and transform the way you spend your time.

Straightforward Options

Chances are, you’re already familiar with…

Do you know what RMDs are?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Tax-advantaged retirement accounts can help you build wealth and prepare for a comfortable retirement. However, you won’t be able to accumulate cash in these special savings vehicles forever. Owners of certain types of accounts will have to eventually start withdrawing their money in the form of required minimum distributions, or RMDs.

70 ½: The Number to Know

The IRS…

Financial tips for every stage in life

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

There is no one-size-fits-all strategy when it comes to financial planning, but it can be helpful to create a road map based on details like retirement goals, income bracket and how much risk you’re comfortable with. These often align with age, making broad generational considerations a good place to start.

Generation Z

The oldest of Generation Z are…

How to shift from saving to spending in retirement

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Even if you’ve spent years earning an income, saving diligently and investing wisely, transitioning to life without a regular paycheck can still be stressful. Find balance and confidence during retirement with a few smart spending tips.

Assess your spending priorities.

Be realistic about your spending plans during retirement, but instead of weighing needs versus wants, think…

How to track down unclaimed assets

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

You’ve worked hard for what you’ve earned, but are you missing out on something? Whether you switched employers a few years ago and left behind a 401(k) or simply lost track of a savings account or some inherited property, take advantage of online resources to find what’s rightfully yours. 

Search by type.

Not sure where to start? First, Google…

What to know about equity compensation

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

It’s become increasingly common for companies to offer equity, or company stock, as a way to attract and retain quality talent. This compensation option could be high-risk since you’re likely forgoing secure, predictable cash income in exchange for a presumption on the future value of that company stock.

However, if the company takes off and becomes highly profitable,…

Are your beneficiaries up to date?

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Naming primary and secondary beneficiaries for life insurance policies, annuities and retirement accounts is one of the easiest and most effective estate planning moves you can make. Here’s why it’s important to make changes as needed to keep these details current.

Marriage, Divorce, Kids and More

Checking your beneficiaries on a regular basis (even annually is enough) can help…