There’s a lot of advice out there for people who are looking to set up a trust for their younger family members. Setting up trusts can be a great way to pass your money down to the next generation. But what do you do if you find out you’re receiving money from a trust? Coming into a large amount of money is life-changing. You might have known about your trust your whole life, or it might … [Read more...] about I Have a Trust Fund — Now What?
Life and Money
How Do I Choose My Company Benefits During Open Enrollment?
We’re eyeballs deep in helping our clients choose their company benefits at Gen Y Planning right now! Why? Because this is one of the ways we save our clients the most money: by revamping their company benefits. Maybe you chose your company benefits a few years ago and haven’t looked at them in awhile. Well, I highly encourage you to pull out that giant booklet and start reading. Warning: this … [Read more...] about How Do I Choose My Company Benefits During Open Enrollment?
How Refinancing Your Mortgage From a 30-Year to a 15-Year Fixed Rate Could Save You Six Figures
If you own a home or you’re currently looking to buy, odds are you’ve got (or are considering) a 30-year mortgage. It’s by far the most popular mortgage option. (And with interest rates at historically low levels right now, I highly recommend locking those rates in with a fixed-rate mortgage!) Now, what’s popular isn’t what’s always right for your personal financial situation. Mortgages come with … [Read more...] about How Refinancing Your Mortgage From a 30-Year to a 15-Year Fixed Rate Could Save You Six Figures
You’re 30 — Stop Doing What You Did in College
I’m a big fan of automating your finances as a way to grow your wealth. After about 30 minutes of set-up, your money is whisked into different accounts, and you’re less tempted to spend your savings because you don’t really see that money. But every year (or whenever you experience a big life change like getting married, having a kid, getting divorced, or getting a big raise), you should reassess … [Read more...] about You’re 30 — Stop Doing What You Did in College
How to Save on Child Care
Many Millennials are at an age where they’re deciding when, or if, to grow their families. In addition to imagining all the ways having kids can change your life, it’s important to prepare financially. One big expense many soon-to-be parents worry about is child care. The average annual cost in the U.S. is $18,000 -- more expensive than in-state public college tuition in many states! Child care … [Read more...] about How to Save on Child Care
Don’t Fall For These Myths About Homeownership
If you currently rent, I’m willing to bet that at least one friend or family member has said something like this to you in the past year: “You should buy a place. It’s a good investment.” “You can always sell it or rent it out if you need to move.” “Renting is throwing money away.” Now, there are many good reasons to buy a home, but the above phrases don’t make the list because they aren’t … [Read more...] about Don’t Fall For These Myths About Homeownership