Hope for your financial life and beyond

How to Make a Will and Protect Those You Love

Today I’m going to talk about a personal finance related topic that many people ignore – how to make a will. In fact, this topic is more avoided than you think. A recent survey at Caring.com showed that only 42% of Americans have estate planning documents. What’s even worse is that for those with children under the age of 18, the number drops to 36%. Yikes!

how to make a willIt’s not surprising a large number of people avoid making a will. Making a will requires a person to think about one very uncomfortable event – their death. I don’t think anyone of us is looking with anticipation towards that specific day.

However, the reality is this – that day WILL come. It is unavoidable. And the real truth of the matter is, we don’t know when it’s going to be. Not all of us are guaranteed to live to 100.

So before I get to how to make a will, I want to show you why it’s important and how it helps protect your family.

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Beyond the Retirement Plan: 3 Things You Must Do Before You Stop Working

For many people, retirement planning means saving enough money to cover expenses after they stop working. Whether they sock money away into a 401(k), IRA, a savings account, or just stuff cash under the mattress, getting ready to retire is just about the money.

retirement planWhile having enough money to pay for housing, food, and other expenses is certainly very important, it’s not the only concern if you want to have a fulfilling retirement. There are several other issues to address before you say goodbye to the working world for a new life of leisure, which can make a big difference in how comfortable you feel — and your family feels.

So before you start planning your retirement party, make sure you’ve addressed these important issues.

1. How Will You Fill Your Time?

If you have spent the last four or five decades working, suddenly having your days free is bound to present some challenges. Not only will you no longer have your actual work responsibilities, but also your off-hours won’t be spent thinking about work, either. You might have images of traveling, spending more time with your family, pursuing a hobby, or other ideas, but do you really know how you will spend your days?

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