the Baby Boom
Generation evolution continues....
Baby Boomers Money Matters
During these economic times, your money strategies are more important than ever. Making sure you have a plan in place will help ensure your financial stability to get through the ups and downs. Taking advantage of employer matching funds in retirement accounts, keeping your credit card balances low or paid off monthly, and stacking your savings are all great places to start.
Don't forget to do as much planning in advance as possible, such as life insurance, estate planning, long-term care, and documenting your wishes in a will, living will, establishing a trust when appropriate, and keeping all your papers neatly organized, easily accessible, and safe from loss in case of emergency.
Most importantly discuss your plans with your loved ones and make sure everyone knows where your important documents are stored. Schedule meetings with your attorney, financial advisor, accountant, insurance agent, and even your priest or pastor to update them on your current plans and wishes.
Keep your documents safe from identity theft, fire or other loss, and keep an up to date inventory of your assets in a secure location for insurance claims. Keep a video record, or high-quality still photos either in paper or digital format, along with receipts, serial numbers, and other pertinent information will facilitate replacement in a time of need. Keep a copy with a trusted friend or relative, or a secure location away from your main residence such as a bank deposit box, with directions to those who will need access to these records.
Retirement planning
- funds
- stock market
- brokers
- financial advisors
Cost of Living
- social security
- savings
Legal Matters
- wills
- mortgages
- insurance