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Cash Flow Family
I occasionally reminisce about the my younger days as a child growing up in a suburb of Philadelphia. Those days were incredible and were filled with fun, tremendous relationships, community, and such freedom.
Freedom to explore, make mistakes (I made plenty of them), and play.
Can You Keep Ignoring Your Will and Estate Plan
Key Takeaways
- No one enjoys planning for their departure from Earth, but you owe it to your family to have an up-to-date will and estate plan.
- If nothing else, make sure your assets are properly titled and you are crystal clear about your financial and healthcare powers of attorney and guardians for your minor children.
- Don’t make the mistake of thinking you’re not wealthy enough for estate planning—or that your family will never argue about money when you’re gone.
Inflation and How It Affects Every Industry
Inflation is the rate at which the cost of goods and services rises. Inflation affects and is measured by the consumer price index (CPI), which monitors the average prices of goods and services across categories like food, vehicles, apparel, and healthcare services.
What Do Rising Home Prices Mean for Your Estate?
Since the COVID-19 pandemic began, there have been rising home prices. According to Fannie Mae, they’ll continue to climb by 11.2% this year and expand at a more modest rate in 2023.
Financial Technology: Delivering Digital Financial Learning
The coronavirus pandemic has motivated many Americans to take full advantage of financial technology. Many are pairing various financial tech solutions to help them improve their financial well-being.
3 Ways Rising Interest Rates and Inflation Impacts You
Interest rates are rising as Fed officials dred raised rates by a quarter-point in March 2022 to a target range of 0.25% to 0.5%. Their median forecast signaled that they expect to lift rates to 1.9% by the end of 2022 and to 2.8% by 2023.
Two Significant Risks to Your Retirement Plan (and How to Mitigate Them)
With today’s high inflation and rising interest rates, some retirement plans may be at risk due to assets depleting prematurely due to these factors. Today’s economic conditions are much worse than coming out of the Great Depression when the U.S. experienced inflation, high-interest rates, historical debt, and tax levels when tax rates were above 40% for over 40 years (1940-1981). Here’s an explanation of two significant risks to your retirement plan: inflation risk and interest rate risk.
Who Hurts the Most From Inflation?
Inflation is at a forty-year high, and everyone is paying higher prices as inflation erodes the average person’s purchasing power. But who hurts the most from inflation?.
Teachers Need Financial Planning, Too
..Teachers often have defined benefit pension plans, but similar to other industries, states are ending the use of pension plans requiring teachers to set up their retirement savings plans themselves. In this article, we explore why teachers need financial planning.
5 Ways to Pay for Long Term Care During High Inflation
People are living longer and will likely need long-term care (LTC) at some point in their lives. The unknowns in most financial plans are how many years you will need LTC and what it will cost. Periods of high inflation significantly increase the cost of health care and LTC, even when prices return to normal. According to a study by Healthview Services, retirees will have to pay for healthcare in retirement, with inflation currently at a 40-year high. Other study findings include:
