cost of retirement

How much is the cost of retirement?

According to a study released in 2017 by Merrill Lynch, the average cost of retirement is more than $700,000. When I mentioned this number at one of my recent speaking engagements, I had one gentleman announce to the group that if this is true, he would be homeless and living in a cardboard box on the streets. After that statement, I didn’t have the heart to mention to the group that Fidelity Investments estimates health care and medical expenses alone will total $275,000 for the average 65-year-old couple retiring in 2017. I did some additional research and found … Read More

motorcycle safety

May is National Motorcycle Safety Awareness Month!

In honor of Motorcycle Safety Awareness Month, the following is a story about a motorcycle, legal documents and household financials as communicated to me by a dear friend in Texas. In May 2016, her husband and his buddy were on a 5-day motorcycle trip in the Texas Hill Country. On the last day of their trip, as she was working in Houston, the buddy called and said her husband misjudged a curve and veered off the road. He watched in horror as her husband and his bike flipped several times, end over end. The paramedics on scene deemed his injuries life-threatening and … Read More

Talking about death

Why is it so hard talking about death?

When I bring up talking about death in my speaking engagements there’s always one or two people who swear they are not going to ever die, so there’s no need to have a conversation about it. This makes me smile and sad all at the same time. I smile because it brings back memories of my own father who passed away 9 years ago and was one of those ‘I’m going to live forever’ guys. Even when he was in the hospital during those final days before losing consciousness, he would talk about what he was going to do when he got back home. It makes me sad because … Read More

Am I really this old already? That just can’t be right!

As we gathered last fall to celebrate my mother’s 90th birthday, we had relatives flying in from all over the country. My mother was blessed with four sons and six daughters, and she came from a large family too, so it was a weekend of catching up with aunts, uncles and cousins that we hadn’t seen in years. As I entertained some of the older cousins that weekend and our conversation drifted to the fact that most of us kids are now in our 60s, one cousin made a statement that resulted in laughter at first, but then the reality set in of what she had just said. Her comment was …  Read More

Ask Yourself These Questions

  • Do I have a will? Is it updated and do my loved ones know where I keep it?
  • Who are my Professional Advisors – Attorney, Banker, Insurance Agent, Tax advisor, and more?
  • Do I have a record of all the things I own and a detailed list directing how my assets should be distributed?
  • Have I prepared for my final wishes so they are carried out and respected at the time of my passing?
  • Could my spouse or heirs easily settle my estate?
  • If i were in a serious accident tomorrow, who would step in to handle my affairs?
  • If something happened to me or my loved ones, would I be prepared?
  • Do I really want my family to deal with all my stuff after I am gone?
  • What is my Legacy?

If you have trouble answering these questions, you need the Lifetime Legacy Planner.

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