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:
Holly Childs Resigns As WDI Head
Vicky Janowski
-
May 26, 2022
|
|
Aswani Volety Named New UNCW Chancellor
Johanna Cano and Johanna Still
-
May 26, 2022
|
|
Wilmington-based Realty Group Announces Changes
Cece Nunn
-
May 27, 2022
|
|
Firm To Convert Offices To Warehouse Space After $6M Purchase
Cece Nunn
-
May 27, 2022
|
|
WilmingtonBiz Talk Previewing Summer Tourism Season
Vicky Janowski
-
May 26, 2022
|
A staple in the community for about three decades, the Wilmington custom woodworking shop also features a retail component – a unique featur...
Innovation helps set a startup apart from the competition, said Heather McWhorter, regional director of the UNCW Small Business & Technology...
The Cucalorus Festival has covered a lot of ground over the past 28 years, and with executive director Dan Brawley at the helm, it continues...
The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.