January/February 2012 - FR2008-0407-0227E
Estate Planning:
Will, trust or both?
To ensure your estate strategies will be carried out, you may need both a will and a trust. A trust can provide asset management and privacy, among other benefits.
General Interest:
Would you pay $30,000 for a $15,000 car?
Thanks to inflation, in 20 years, you might have to. While you can't avoid it, you can help protect yourself by taking inflation into account when you're working on your financial goals.
Preparing for baby
Baby-proofing your home isn't the only thing you should do to prepare for your new baby. Reviewing insurance policies, updating your will and assessing potential tax benefits should also be priorities.
Beneficiary designations up to date?
Personal and family situations can change over time. A periodic review of your beneficiary designations on life insurance policies, retirement plan accounts and certain other financial assets can help ensure they are up to date.
In 2012, resolve to be more financially secure
The new year is a great time to renew your commitment to making your future more financially secure. We suggest four steps you can take to help turn your resolution into a reality.
Understand the lingo
Before you set up a budget, take a look at our list of common financial terms you should be familiar with.
Insurance:
Consider the conversion option
If you want to provide your family with life insurance protection but you can't afford a permanent policy right now, consider purchasing a term life insurance policy with an option to convert to a permanent policy at a later date.
Estate strategies for lifetime goals
What can an estate strategy do for you? It can help to preserve your estate, appoint guardians for minor children, ensure the successful transfer of your business and fulfill other goals you may have.
Retirement Planning:
Asset allocation basics
As a retirement investor, you'll want to select an appropriate asset allocation for your retirement account.
Countdown to retirement
If retirement is only a few years off, a review of your investment strategy is in order to see if you're on target to meet your retirement goals.
Seniors:
Why learn about long-term care insurance?
With people living longer lives, the need for long-term care is likely to increase. Learning more about long-term care insurance now can help you make an informed decision about your need for it in the future.
Small Business:
On the right track with the right plan
A cash balance retirement plan is an option small businesses and professional firms may want to consider.
The total compensation picture
Do your employees know how much the benefits you provide cost? Providing benefits statements can help show your employees that the total wage amount stated on their W-2 is not their bottom line compensation.
Standard:
Roth IRA and Roth 401(k): Alike but different
If you're looking for an investment vehicle that offers potentially tax-free earnings and no required minimum distributions during your lifetime, then a Roth IRA or, if your employer offers the option, a Roth 401(k) account might be right for you.
Womens:
Your work force reentry plan
Reentering the work force after an extended absence can create some challenges. Developing a plan that takes your finances into account can help make your transition back into the working world a smooth one.