If you’re like most people, you aren’t eager to spend time thinking about what would happen if you became unable to direct your own medical care because of illness, an accident, or advanced age. However, if you don’t do at least a little bit of planning — writing down your wishes about the kinds of […]
Estate Planning for Baby Boomers
Whether you are a baby boomer who started saving for retirement early or someone who keeps pushing out your retirement date and is still saving for the future (like me!), you need an estate plan.
Most folks born between 1946 and 1964 are among the first generation — the baby boomers — facing retirement without the safety net of a defined pension plan. If you waited too long to contribute to an IRA or 401(k) plan you may have already postponed your retirement past the old traditional age of 65. And you may be using your savings to assist ailing parents and children with ever growing tuition costs.
All Americans face challenges as they craft plans for a secure retirement but boomers have to be extra creative in their planning and execution if they don’t want a huge compromise to their lifestyle.
What Boomers Say About Not Having a Plan:
- There’s plenty of time…
- Estate planning is only for the wealthy…
- We’re too busy to think about it…
- There won’t be any money left when we die anyway…
- Our kids will take care of us…
- We’ll think about it if and when we get sick…
- The government will help us if we need long term care…
- Someone else will make good decisions on our behalf…
Sound familiar? You may want to take a closer look at what could happen if you became disabled or died without an estate plan in place. Would the person who steps in to help be the one you would have chosen? Would he or she have immediate access to your assets to take proper care of you and your affairs? Would funds be available to let you live in dignity for the rest of your life?
21st Century Challenges Facing Baby Boomers:
- Longer life spans
- More divorces
- Adult children moving home
- Retirement accounts diminished
- Children less likely to become parental caregivers
- Incapacitated seniors requiring long term care outside the home
- Children/support system dispersed across the country
- Threats to pension plans and Social Security
Our generation is known for being optimistic and resilient. It is never too late to get your crap together so your family won’t have to!
Get started TODAY!
Got the Book?
Take the 30 Day Challenge: Get your crap together, so your Family won’t have to!
You have your choice of two options. Yup I’m Dead…Now What? or Yup I’m Dead…Now What? The Deluxe Edition.
What’s the difference? The Deluxe Edition contains the 30 Day Challenge along with additional forms, resources, shortcuts and tips. The regular version refers to the website to download these items.
- Amazon is a tad quicker and convenient (if you have prime). I pretty much order everything from Amazon, so why would I not order my books, as well.
- Barnes & Noble is just B&N (some prefer)
- LuLu Marketplace takes a little longer, but is a few pennies cheaper and offers a convenient coil binding.
Whichever option you choose, you just need to choose one!
This is one of the most important things you can do for your Loved Ones.