Joe Schultz Law

Retirement is expensive? Sacrifice now for in the future?

"Retiring doesn’t mean you will spend less money.

In fact, people often underestimate how much their ideal retirement will cost, according to author Dan Ariely, a professor of behavioral economics at Duke University."

Watch this great video to learn what percentage you will actually need to ensure you have set aside plus whatever you would like to have left over for your heirs.

Retirement is expensive – here's how much you really need to save for it People underestimate how much is needed for retirement to live comfortably, according to Dan Ariely, a professor at Duke University. Here's how much is needed.

It's wedding season! Couples spend countless hours and thousands on their special day but don't forget the value in reevaluating or starting your estate plan.

Some helpful hints on things to take into consideration:

1. Consider if a prenuptial is relevant - especially when one spouse has significant assets or earnings.

2. Update your existing plan - should your spouse be given financial or health care powers of attorney or added as the beneficiary?

3. Consider real estate - especially if you aren't covering this in the prenup. You will want to outline who has the right to live in the property etc

4. Manage your life insurance plans to ensure that the other would be taken care of should you pass.

5. Update your beneficiaries - EVERYWHERE! This is so very important. Even if you have updated your trust or will you need to update beneficiary designations separately.