Hey guys! Just a reminder, there's still time to register for our webinar tomorrow - Protecting Your Most Important Asset: Your Family. We'll be talking about the importance of having a plan in place for Long Term Care. Don't miss out!
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Welcome! You are invited to join a webinar: Protecting Your Most Important Asset: Your Family. After registering, you will receive a confirmation email about joining the webinar.
When you reach a point were you can no longer safely take care of yourself due to a physical or cognitive impairment, long term care insurance will help pay for the care needed in the home or at a facility.
Join us Friday, September 25th for a 30 minute, no-cost info session on the benefits of planning for Long Term Care! Click the link to register. https://www.rjsocialmedia.com/avaJvk
Life insurance can provide your family members the resources to maintain their lifestyle. It can replace some or all of your income, pay off debts, cover funeral costs and help fund future expenses, such as college tuition.
Probate is a long, complicated, court-supervised process that administers your estate after death. Some assets such as retirement accounts can bypass probate if you have a named beneficiary.
Setting up a power of attorney is an important step in estate planning. Have you considered all the variations and determined what best suits your future needs?
#estateplanning #financialplanning
Did you miss our webinar on Long Term Care last week? Click the link below to watch the replay, and please reach out to us if you have any questions!
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Webinars | Azimuth Wealth Advisory of Raymond James | Greenville, SC
https://www.rjsocialmedia.com/a0A7jG
What is estate planning?
A complete estate plan consists of a revocable living trust, will, durable power of attorney for both financial affairs and medical decisions, and a living will for end-of-life decisions.
There's still time to register for this month's webinar! Join us this Thursday, October 29th at 11:30am for some great info on Estate Planning!
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Welcome! You are invited to join a webinar: Maintaining Control in Estate Planning. After registering, you will receive a confirmation email about joining the webinar.
Talking to your children about your estate plan can be a difficult conversation, but transparency and understanding amongst involved parties now can help mitigate confusion and conflict after your passing.
Raymond James offers an online file sharing and content management platform called Vault. It can be accessed in your online Client Access account, and is a great tool for storing all of your important estate planning documents. Click the link to sign up for Client Access now! https://www.rjsocialmedia.com/azDmV5
What's the difference between a will and a living trust?
Both are great tools for estate planning and dependent on your situation it may be good to have both for a complete estate plan.
Learn from a charitable specialist in this on-demand video about the various charitable planning techniques that can be utilized this giving season.
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Charity Starts at Home Client Video Webinar - www.raymondjames.com
The most wonderful time of the year is also the most charitable one. Explore how to help maximize the tax benefits of your good intentions.
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3 Ways To Benefit From Charitable Giving
Giving is an amazing way to help those in need and can also be quite beneficial to the donor. Find out more about year end giving on this month's webinar, 2020 Year-End Giving, tomorrow at 11:30am!
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Welcome! You are invited to join a webinar: 2020 Year-End Giving. After registering, you will receive a confirmation email about joining the webinar.
What is a Donor Advised Fund? Check out this short video to learn more about a charitable giving solution that offers an immediate tax benefit. https://www.rjsocialmedia.com/aeCw_I
https://www.rjsocialmedia.com/atrdXp
Remember to take a moment today to thank someone who served. Happy Veterans Day.
Money Challenge #6 – Debt Paydown
If you carry a large amount of debt, one of the easiest ways to reduce spending is to reduce the ongoing amount you must pay in interest on that debt. There are several ways to reduce the cost of debt. One way to pay down debt is by paying above the minimum payments on the debt that has the highest interest rate. A common high interest rate debt is credit card debt. Once you pay off the loan with the highest interest rate then you can move down the next highest. It is important to keep in mind that paying off debt can coincide other goals. This is why it's helpful to sit down with a professional to create a financial plan.
Weekly Challenge Check -In!
During this past year we've seen layoffs, furloughs, unplanned medical expenses become more and more common, making it even more important to start building your emergency fund today! We don't know what the future holds, but we can try our best now to prepare for the unexpected.
Money Challenge #5 – Build your Emergency Fund.
Now that you have set guidelines for your spending you now know how much can go towards your financial goals. This week we are going to focus on a short term goal: Emergency Fund. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you meet emergency or highly urgent short-term needs. Most financial professionals suggest that you have three to six months' worth of living expenses in your cash reserve. One factor in determining how much you need is the stability of your income and job. If you are in a field where finding a new job would be difficult you might want more funds in your cash reserve. Once you figure out this dollar amount then set a plan to reach your goal.
Weekly Challenge Check-In! You've already knocked out your net worth and cash flow statements. You've written out your goals. Have you started working on your budget yet? If not, don't worry! Here's a link to a helpful montly budget worksheet to keep you on the 50/30/20 track! https://www.nerdwallet.com/article/finance/budget-worksheet
Money Challenge #4 – Set a Budget.
Now that you know both your cash flow and money values you can set up parameters for how your money should be spent, i.e. budget. A guideline that many find helpful is the 50/30/20 plan. This plan proposes that 50% of your income should go towards necessities i.e. your home payment, food, utilities, etc. The next 30% can be allocated towards the things you want. Vacations, entertainment, shopping, or whatever it is you enjoy doing. Finally, 20% of your income goes towards your future goals. This category covers things like retirement savings, paying down debt, or establishing an emergency fund.
Weekly challenge check - in! Have you taken the time to think about your short and long term financial goals? Write them out, and then look back at your cash flow statement and your net worth statement from the past couple weeks. This will help you set a time frame to meet your goals, and to adjust your budget accordingly.
