Financial Interdependence: A New Way of Defining Adulthood?

The financial condition for young adults today is rapidly changing the societal ideas of ‘life milestones,’ such as when to marry, buy a house, start a family, or save for retirement.

Early adulthood is assumed to be a time of becoming financially independent. But an October 2018 study conducted by Agewave reveals that many adults ages 18-34 are not economically independent despite their adulthood. Many still rely on the financial support of their parents or extended family. The study reveals complex reasons leading to financial interdependence; something not experienced by earlier generations:

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Pre-Wedding $ Talks- Asset Protection and a Prenup?

Although it’s not as much fun as discussing wedding plans, a prenup agreement has a place in pre-wedding planning when significant assets and liabilities are involved.

Couple’s spend many hours planning and a significant amount of money on their wedding, but personal finances and protecting assets deserve just as much attention and planning. When both parties are in agreement on discussing their finances, reviewing credit reports, and asset and liability information, long term asset appreciation and protection should take priority before the wedding day.

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Annuities and Market Risk: What You Need to Know

Like any financial product, there are pros and cons to each type of annuity, and due diligence of investigating any annuity should take precedence before purchasing one for your retirement portfolio.

Market risk is something all investors worry about, but those close to retirement have limited time to recover from the loss. If you’re within ten years of retirement, your investments are at a critical stage to continue to gain value and avoid loss. Without thinking through the dynamics of gains and losses, investors leave themselves open to market risk that could prematurely deplete their retirement assets.

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Ensuring a Efficient Rollover of Your Retirement Savings Assets

Having an active role in financial planning includes bringing assets together to allow you more investment choices and on-going monitoring, not leaving them where you can’t actively manage them.

The average American worker stays at a job only 4.2 years, and many had funded retirement accounts they’ve left with the employer’s plan custodian when they moved to a new job. Leaving retirement savings at multiple employers can create higher investment costs to keep the account in former employer plans or create an inconvenience to maintain and rebalance.

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July 2019 Newsletter Approval 2607057.1