Here's What We Think

Learn how timing your charitable giving can improve tax efficiency, why “lumpy” donations matter, and how to give more intentionally.

The end of the year sparks something in a lot of us to start giving to charitable causes. For many people, the holiday season brings out the desire to give our money or our time to those less fortunate. But what if we were more purposeful with our giving strategy?

Young adults, or HENRY's, don’t typically think about life insurance. After all, in your 20s and 30s, you probably feel like your entire life is endlessly stretched out ahead of you, and even more during this hard time.

There is one gap in plans I see relentlessly and repeatedly from our planning clients. Even those clients that are doing everything else right and have a 95%+ chance of long term plan success... Here it goes: The one planning deficiency that consistently comes up with our young professional high income earning clients (30-49 years old and making north of $250k as a household) is... They do not have enough term life insurance.

As a HENRY or Pre-retiree, you should understand that having life insurance is part of a responsible financial plan. Most people are not aware that needs keep changing according to their life stage. If you have found a plan that meets your needs and gives you peace of mind, it is important to reevaluate your life insurance needs as they fluctuate during different life stages.

It’s a good idea to have a will so any assets left behind go to the people or organizations you choose – and not to legal fees, taxes, and heirs chosen by a probate judge. Take control of your future and make a plan. Read this week's blog to learn how working with a professional advisor can help you with the process of creating your will.