Estate planning should be a serious exercise everyone with an accumulation of assets should undertake, and financial planning should be an ongoing event no matter your age or status in life. For seniors, ensuring enough funds are available to fund their retirement years is paramount. But what about this school of financial planning thought: Don’t Die Rich!
This “die broke” thought-provoking idea is based on a desire that money is best used while you are around to see the benefits. Years ago, inheritances were used to assist the next generation to make a living, with parents hoping for their children to have a better life than they experienced. In today’s world, most parents provide their children with the means to make a living through advanced education or other life experiences. After ensuring that their offspring are adequately pursuing the American dream, the parents typically consider their remaining wealth, which may consist largely of individually held stocks and bonds, retirement funds, real estate and other financial assets. Because of lengthening life spans, these parental assets often are not inherited by their children until the children themselves are getting close to retirement age.
So by adhering to the “Don’t Die Rich” theory of planning, how do you put your wealth to work? Consider the following:
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Krug Joins Infinity Acupuncture
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