Estate Planning

Should I Pay Off My Mortgage Now?

Posted by on Aug 13, 2019

To Pay or Not to Pay – that is a dilemma facing many Baby Boomers today. As retirement is approaching, do you pay off the mortgage or not? You are 3, 5, 10 years away from retirement. And you have 5, 10, 15 years left on your mortgage. Do you pay the mortgage off early? If so, which bucket of money do you use? In interest of full disclosure, this financial advisor prefers retirees to be debt free at retirement.  Less cash flow is required for monthly expenses which is less strain on investments. In a market downturn, retirees sleep better in a debt free home. However, being mortgage free may...

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How Much Life Insurance do You Need

Posted by on Aug 6, 2019

It is an important questions when considering life insurance: “How Much Life Insurance do I need?”  Watch the video and get help to see how life insurance needs today may be different tomorrow. This video is by Ohio National Financial Services.

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Are you Living Your Life on Purpose?

Posted by on Jul 15, 2019

Are you Living Your Life on Purpose?   Once a year, I take a few moments to evaluate ‘How am I doing in life?’ I look at each area of my life – relationship, health, financial, spiritual, family and pleasure. I score each area on my level of satisfaction on a scale of 1 to 10. I envision these categories in a wheel –     As I score them, some are satisfactory – 8 or above. Others are moderate, 6-8. Some stink and are on the low end like 3-4. When I envision my life in a wheel, I can see the areas I am flat.  And like a wheel on a car or bicycle, a flat side makes for a bumpy ride. It doesn’t...

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Gift of Love – An Estate Plan

Posted by on Feb 18, 2016

Preparing an estate plan is an act of kindness. You are creating a road-map for your family. That road map tells them how to dispose of your possessions and assets. It also includes guidelines for your care if you become incapacitated. In times of crisis, having a road-map helps family members make difficult choices. The basic components of an estate plan are: Will: The most well-known of an estate planning tools, a will can ensure that your property is dispersed according to your wishes and that your loved ones are provided for as you intended. Trusts: A trust is a legal entity that is able...

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Gift of Love – An Ethical Will

Posted by on Feb 11, 2016

What is the best gift of love that you can give your family? Time, memories, opportunities, special possessions, wealth? The list could be endless. There is a gift that can wrap up all these gifts into one package. An ethical will is a way to share your love with family and close friends. Think of an ethical will as a heartfelt letter describing what truly matters most in your life. An ethical will passes on life lessons, values, joys, prayers, hopes and dreams for present and future generations. An ethical will is not a legal document. It is an opportunity to share what motivates you or...

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Clutter Free Zone – Part 3

Posted by on Oct 30, 2014

If you are downsizing or clearing a parent’s home, what do you do with the unclaimed, extra stuff? Hopefully, you have been sorting into boxes marked for toss, donate or sell. You may want to do a garage sale or an estate sale.  Those are a lot of work to set up and run. If you don’t enjoy dickering, it may be too emotional to be haggling over your parent’s belongings. If you only have a few items of value, you might consider Craig’s List, E-Bay or other online auctions. You may want to consider a minimum for which you would let the item go.  You might also consider a local auction or a...

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