Go to page: Are you ready for the great wealth transfer?From: REAP, LLC. | Retirement & Estate Advisors & Professionals
As baby boomers officially enter their golden years of retirement, their Generation X and millennial offspring stand to inherit trillions of dollars in total combined assets, according to many financial estimates.
How should each generation prepare for this historic transfer of wealth?
Baby Boomers: Set Expectations
Whether they have a substantial legacy to leave behind…
From: REAP, LLC. | Retirement & Estate Advisors & Professionals
Building financial security means sticking to a smart strategy and thinking ahead. Success comes from spending less than you earn, investing wisely and protecting against unforeseen challenges, and to be truly prepared, you should probably have an emergency fund.
Here’s how and why an emergency fund could save the day, no matter your situation or income…
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,…
Go to page: 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…
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…
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…
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…
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…
Go to page: How to shift from saving to spending in retirementFrom: 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…
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…
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