The Netflix show Grace and Frankie chronicles what happens when seventy-something frenemies Grace and Frankie learn that their husbands were not only partners in a law firm but also romantically involved. The two men decide they want to live out their days together so they divorce their wives.
Yes, we know many Millennials don’t use paper to make lists but you get the idea–add estate planning to your to-do list.
The media spends a lot of time talking about Millennials. Experts analyze their spending habits, discuss how they will affect the economy, and sometimes chastise them for their financial planning or lack thereof. Earlier this year, NerdWallet decided to talk to this generation, saying, “Millennials, don’t forget estate planning” and noting that it is a mistake to think you can put off estate planning until you are in your 50s or 60s.
You may have heard …Read More
Some of this motherly advice connects to financial planning in a direct way; the Money article notes that high percentages of the participants in a BeFrugal.com survey say their mothers taught them to look for sales, to use coupons, and to recognize the difference between a want and a need.
But there is so much more advice children get from their mothers that does not necessarily relate directly to money and finance yet it still can guide them as have more financial resources to manage and enter the workforce. As the article suggests:
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“Life lessons like “don’t be late” and
Last week, we discussed reading your credit card statement. April is Financial Literacy Month and reading financial documents sometimes requires more than knowing how to read. There will be words on the page that you recognize but you may not be able to comprehend what they mean for your investment planning.
In “12 Things You Need to Know About Financial Statements” Investopedia offers a primer on what you’ll find in your financial statements. Investing is just the beginning; you need to keep up with your investments.
An important point made in the Investopedia article is that …Read More
Business Insider published “8 money mistakes the middle class keeps making” to focus on one economic group but these mistakes can be made by anyone no matter how much money they have. It is likely that the focus is on the middle class because the wealthy have enough and those who are impoverished have just enough to get by. Actually, anyone can find themselves gaining or losing wealth due to unexpected circumstances but if you follow sound financial planning principles, you can protect yourself from sudden losses.
Overall, we get messages from our culture about seizing the day. …Read More