If you’ve been contributing for many years to your 401(k) or similar retirement plan, it may be your largest pool of money. So, if you are facing a financial need, you may think about tapping into your account. After all, it’s your money – why not use it?
Many of us probably felt that 2020 lasted a very long time. But now that 2021 is upon us, we can make a fresh start – and one way to do that is to make some New Year’s resolutions. Of course, you can make these resolutions for all parts of your life – physical, emotional, intellectual – but have you ever considered some financial resolutions?
We’re all interested in the topic of lifespan. What’s the average lifespan of men and women? What factors influence lifespan? What can I expect for my own lifespan? Yet, you may also want to think about your healthspan – that is, how long you will live in generally good health. How should you factor in your potential healthspan when creating your financial strategies?
If you’re a caregiver, possibly for a loved one dealing with an illness such as Alzheimer’s disease, you’re probably already facing some significant emotional and physical challenges – so you don’t need any financial ones as well. Yet, they are difficult to avoid. What steps can you take to deal with them?
Right now, the pandemic is causing chaos and uncertainty for colleges and students. But it won’t always be that way. And if you have children who will be heading off to school in the next few years, you’re probably thinking about more typical concerns – such as expenses. How will you pay for the high costs of higher education?