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Cory Wessman is an estate planning attorney with the law firm, Erickson & Wessman. His office is in the Broadway Place West building in NE Minneapolis where I work.
He sent the following letter to his clients and I thought it would make a great guest post.
You can find out more about Cory and his services at his website, www.cericksonlaw.com.
Below, he offers great advice for “spring cleaning” your estate plan. If you need help creating and updating your “Master List of Accounts”, let me know. We have this information for all our financial planning clients and are happy to provide it to you in a secure way.
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Every year I do college planning workshops for parents of college bound high school students. These workshops are held at local high schools and parents often contact me afterwards for an overview of their situation. Often, I can help them make more well-informed decisions about how to pay for college and educate them how their college goals affect retirement.
One of my strongest recommendations is to be careful about the school your student chooses to attend. How much you pay for college ultimately comes down to the school your student chooses to attend.
A while back I met with Jennifer and her husband, Michael, to discuss their situation. Earlier this fall Jen sent me the email below. Jen and Mike’s son is exceptional. Their story isn’t necessarily a reflection of what you might experience when shopping for colleges. However, it’s a great example of how one family was able to leverage their student’s unique talents to their advantage.
After the email, I share some of the key takeaways below.
Names and other identifying information have been changed, and I edited the email for length.
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It’s that time of year…. March Madness! Time to get your game on sports fans!
At least, that’s what I have heard.
Truth is, I know next to nothing about men’s college basketball. In fact, I probably couldn’t even name four of the 68 men’s college basketball teams participating in the tournament, much less try to predict which teams will make the Final Four.
Apparently, however, it’s a thing.
According to the American Gaming Association, over 40 million Americans will test their sanity as they fill out their brackets and place their bets as to who will win the coveted NCAA men’s basketball tournament. Over $10 billion in bets will be placed on this year’s event before the month is over. Odds of completing a perfect bracket (whatever that means): 1 in 9.2 quintillion. Good luck.
Something I do know. College tuition is insanely expensive.
If you have kids going to college next fall, the real madness begins when you get your college admissions letters and schools tell you how much you will need to fork over to attend their school.
Photo by Lucy Heath on Unsplash
March 14. Pi Day to the math nerd’s of the world. It’s more than just a convenient way to calculate the circumference of a circle or an excuse to eat your favorite dessert. It’s also a great reminder that financial planning can help you come full circle in your financial life as well.
MoneyGuide Pro, the top rated financial planning software created by Pie Technologies, helps financial advisors like me help our clients reach their financial goals be creating a financial plan that helps them get a more clear picture of their current financial situation, define their goals, and create actionable strategies to reach their long and short-term financial goals such as paying for college or achieving financial independence.
Feel free to contact me to create your customized financial plan. I would love to show you how close you are to crossing the bridge to a confident retirement.
To learn more about PIE Tech and the wonderful people that help me help you, click on the video below:
It’s March. The time of year when the early tax filers start to see their tax refunds in the mail. Marketers, sales people, car dealers and just about everyone with a product or service to sell knows this and are out to separate you from your money.
The IRS estimates that the average tax filer will receive a refund check of about $3,050. Here in MN, taxpayers can expect an average tax refund of $2,430.
That kind of money won’t change your life, but what you choose to do with it now can make a big difference over time. Rather than spending it on more stuff that you don’t need, consider leveraging your tax refund for even greater benefit in the future by using this easy hack: