I’ve Saved for Retirement. What Now?
Everywhere you turn lately, there seems to be someone telling you how Americans are “failing” at retirement planning. But what about those who have prepared for the future? What should their primary focus be? Mitigate Losses A good financial planner will help you get the most out of your retirement accounts for your remaining years, but it’s also recommended that you begin to think about what will happen to those plans after you’re gone. Having a plan in place to avoid losses is crucial to the longevity of your wealth. Avoid Probate Most retirement plans will avoid probate provided there is a designated beneficiary. Most people identify a beneficiary when the IRA or employer-sponsored plan (e.g. 401(k)) is established. However, that could have been years or even decades ago. One of the things we do with our C.A.R.E. clients is review the beneficiary designations periodically to ensure they are still appropriate and reflect our clients’ current wishes. Remember, your Will won’t transfer any asset that has a beneficiary designation — for better and for worse, depending on the situation, those assets will pass outside of probate. That means if your beneficiary is your ex-spouse, because you never changed it, that person will inherit even if it’s not what you would have wanted. If your beneficiary is deceased, the retirement account could end up payable to your Estate, which might cause other problems.
If you aren’t one of our C.A.R.E. clients, we strongly recommend that you check your beneficiary designations to be sure they accurately reflect your wishes. The end of the year is a great time for this project.
Enjoy These 6 Autumn Activities
FUN FOR THE WHOLE FAMILY!
Throughout November, everyone is eagerly looking forward to Thanksgiving, Black Friday, and Cyber Monday, but you shouldn’t let the rest of the month slip past you! Enjoy these other fall activities with the whole family. Homemade Caramel Apples Homemade treats are no doubt far better than their store-bought counterparts. Try your hand at making your own caramel apples for the whole family to enjoy. You can also add a number of toppings to liven things up, such as nuts, white or milk chocolate, coconut, sprinkles, or pecans. Backyard Bonfire During these cold months, you may be tempted to stay indoors, but heading outside for a bonfire is a great way to spend time with your family while enjoying the brisk weather. If you have a fire pit in your backyard, now is the perfect time to take advantage of it by bundling up with some hot chocolate and s’mores. Autumn Arrangements It’s time to get crafty! Creating your own fall arrangements will ensure that your home has the seasonal decorations you want. Making beautiful fall flower arrangements for your kitchen table or wreaths for your front door to greet guests will create the desired autumn vibe you’ve been searching for.
quality time with each other while watching some family holiday favorites, like “A Charlie Brown Thanksgiving” or the Thanksgiving comedy-drama “Pieces of April.”
Home-Cooked Food When autumn rolls around, pie and warm cider may be high on your list of tasty treats you’re eagerly anticipating. This fall, encourage your family to take part in making annual goodies and sharing them with your neighbors. Nothing warms the heart more than receiving a loaf of freshly baked pumpkin bread during these increasingly cold days. Knitted Scarves If you’re handy with knitting needles, now is the season to put them to work. Hand-knitted scarves are great gifts to give throughout the fall and winter, and you can also make it a family activity! Take some time to teach your kids how to knit and crochet to create scarves of their very own.
Movie Night Gather your loved ones in the living room with popcorn, blankets, and a great film. Make the most of your autumn evenings by cozying up and spending
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