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Single Life

Wealth: News

What Are My Expectations and Wishes?

In a couple short years I'll be a single adult trying to make it on my own financially. When this time comes I hope to be doing something I'm passionate about. I hope that this includes not only a career that I'm passionate about, but also philanthropic work that motivates me to do more every day. I also plan to graduate with no debt so that I can start with a somewhat clean slate financially. It's important to put together a plan that works towards being both financially and philanthropically stable now so that not only will I be better prepared for the future, but I'll also be putting good habits into place. In addition to this, if I include savings into my plan in this phase of my life, which I intend on doing, then it gives my money more of chance to grow due to the time value of money.

Helpful Artifacts

Wealth: News

Ten Financial Commandments for Your 20s

Start Saving Now

How Millennials Become Spooked By Credit cards

Pre-Marriage

Wealth: News

My Plan for Pre-Married Life

The pre-marriage phase of life is incredibly important. This is the time where as a couple it is pertinent that each person shares things such as his/her goals, both wealth and philanthropic, his/her credit history, and money management plans. Doing so will help make the couple money smart. If this is done before marriage, then there is a better chance for financial stability in the marriage. Having all financial plans and history out in the open ahead of time saves the headache of having to deal with a surprise financial burden later in married life. Making a financial plan for life during courtship is also important because it is the beginning of the financial plan that will carry you through your married life. This plan can be modified and adjusted with changes in income and goals, but making the foundation now gives you a much better chance of success at being money smart later on in life. 


 


Helpful Artifacts

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The Alabama Marriage Handbook

Financial Checklist For Marriage

Getting Married Opposites Attract

Marriage

Wealth: News

Getting Ahead and Loving It

The marriage phase of life is exciting and nerve-racking all at the same time. This is no longer a chapter in your life, this is the rest of your life, hopefully. If you're not financially stable in marriage, then your marriage could quickly grow to become unhealthy. In addition to this, if you start discussing and building your legacy now as a married couple, you are bound to make an impact on the world due to the amount of time you will have to grow and learn together. It is also important to start discussing your estate plan and important forms such as a living will, power of attorney, and trusts around the time of marriage so that they can be in place if something were to happen to either you or your spouse. This can be very critical if you have children because their guardianship will have to be considered. Anything can happen at any time so it is essential to discuss these forms and your estate plan with your attorney as early in the marriage as possible. Finally, it is important to consider long term care insurance, even if it's later in marriage, it's still very important. Thinking about it now could save you a lot of money in the long run.  


 


Helpful Artifacts

Wealth: News

Marriage and Money

How the "Fiscal Cliff" Could Hurt Married Couples

Staying Married and Leaving a Legacy

Parenting & Raising Children

Wealth: News

Making Your Children Money Conscious

Becoming a parent requires taking on a new type or responsibility especially when it comes to money and financial stability. Having a financial plan in this phase of life helps to ensure that you and your family are less likely to have financial trouble in the future. Savings are especially important to plan for because a child has several fundamental stages in life that require you to be financial available. An important phase of life to begin saving and planning for is college. College is one the most, if not the most, expensive thing a parent may provide for their children so it is essential to build the structure for financial planning and saving for college now rather than later. Welcoming children into your life also means that you're sharing your legacy with them. This may include your financial and philanthropic legacy which is very important. By sharing your legacy and values with your children, you instill in them the importance of creating a legacy for themselves. By doing so, they may carry on your legacy while also making a name for themselves.

Helpful Artifacts

Wealth: News

Saying 'No' to Your Kids

Auburn's Camp iCare in Chicago

Your Children: A New Financial Challenge

My Wake Up Call and Solutions

I.O.U.S.A.- a Reflection

The United States has never seen national debt like it has in its present day. Twenty-one trillion dollars is an eye opening amount to say the least. For years this nation has continued to rise in debt due to several key factors and it's frightening to see not much change happening. This nation runs on consumerism and people are drowning in it. It’s time for citizens to make new priorities and reevaluate their lives which in turn will help the nation as a whole. As millennials, the problem will soon fall in our laps. We have to be prepared and willing to handle the problem and provide helpful solutions. By understanding the current fiscal situation in the United States, our generation can prepare itself for the future and the inevitable task of tackling the nation’s growing debt. 

On an individual level, millennials should learn how to save and budget their expenses now so that later in life it's less likely for issues to arise. One of the major reforms that the U.S. needs to work on to decrease national debt is health care. By promoting and living a healthy lifestyle now, there will be less of a chance for disability and hospitalization later in life, which when thought of collectively, helps the nation. Additionally, when working collectively, young people can learn from each other and get different perspectives from several different social identities. This increase in knowledge about the nation's financial burdens can only strengthen our ability to overcome the issue in the future. Overall, creating a sustainable future for oneself now will help prevent debt which when done collectively within a generation helps decrease the national debt. This generation will be the one to bring the nation the change it needs to thrive.

Wealth: News

Helpful Artifacts

Wealth: News

IOUSA Film

IOUSA- Solutions

IOUSA- Solutions

IOUSA- Solutions

IOUSA-Solutions

IOUSA-Solutions

Saving and Investing Early, Regularly, and Aggressively

Wealth: News

Planning for the Future Now

Being debt free is a main priority of mine for when I enter into adulthood. Beginning the independent lifestyle with a clean financial slate helps pave the way for success in the future. This builds on the mantra of early-regularly- aggressively. In addition to staying debt free, it's important to save money whenever possible to provide a cushion for the future. Doing this regularly each month and as soon as you can will help you accumulate more savings and help you more in the future. The time value of money is important to consider when saving money. Lastly, I would like to factor into my spending plan a certain amount of money each month to give to a non-profit. These organizations make their living on donations so it's important that they get the recognition they deserve. All these things should be considered early in life so that they may be built into one's financial and philanthropic foundation that they carry with them for life. Being aggressive with these habits is also important when it comes to being successful because otherwise we may lose the motivation to stick with it for the long haul. It's incredibly important to stay motivated to do these things because in the end you're not only helping yourself, but others as well.

Helpful Artifacts

Wealth: News

Investing Basics

Work, Live, and Give with Pride
(WPB Workshop)

Living a Philanthropic Life

The women on the panel and the keynote speaker at the luncheon were truly inspiring. It can be hard at times to remember why we do what we do and they show that the reason behind it all is passion. Behind each of them was a passion for their work. Opportunities like this are eye opening for students because it gives us a chance to see what a career in this field could be like for us in the future. It also offers the opportunity for networking with women such as the ones on the panel as well as the keynote speaker. These videos were very interesting to watch and I loved getting to see where philanthropy can take you in life.

Wealth: News

Helpful Artifacts

Wealth: News

Women's Philanthropy Board Workshop

Saving For and Living in Retirement

Preparing for the High life

Leah Dubberly’s lecture was very eye opening for our generation. The fact that as millennials we are 100% responsible for our lot in retirement and savings is vital knowledge for our generation. Knowing how to save and manage money now could make or break our future and Ms. Dubberly perfectly shows the effects of that by providing statistics from Generation X. The most important thing Ms. Dubberly mentioned in her lecture in my opinion was her emphasis on saving early, regularly, and aggressively. Starting the habit of saving money now and continuing to do so regularly and with passion can ensure that you will be financially stable in the future.

Wealth: News
Wealth: Work

Helpful Artifacts

Wealth: News

3 States to Avoid in Retirement

Saving For Retirement

Divorce

Wealth: News

How to Handle Divorce- Legally, Financially, and Emotionally

As the women stated in the panel, “there are no winners in divorce”. It is still of great importance that you have the knowledge and resources to get through your divorce with as much ease as possible. It is essential to not only hire a divorce lawyer, but to also find one that you believe will represent you and what you believe. You should have an emotional connection with your lawyer. The women also mention that communication and knowledge are key and I couldn’t agree more. If you educate yourself on the things you should become aware of before you file for divorce you are more likely to receive fair treatment in the end which doesn’t always happen for women. Some things to educate yourself on include revisiting your social security, retirement plan, and estate plan to ensure that you will get your fair share of the amount during the divorce. It’s also important to decide if keeping your house is financially wise for you or not. One of the most important things you can do during a divorce is find an outlet to discuss your feelings and emotions with someone. Divorce takes an emotional toll not only on the couple, but also on the whole family. It is pertinent that emotions and mental health be addressed during this time because your well-being is of utmost importance and will help you and your children in the long run.

Helpful Artifacts

Wealth: News

How to Choose a Divorce Attorney

The Twelve Financial Pitfalls of Divorce

9 Signs It's Time to Get a Divorce

Caregiving

Wealth: News

Caring For Our First Caregivers

Having to see one's parents get older is anything but easy so it’s important to take every measure possible to make it easier on yourself for when the time does come. Some things you should do right now to prepare are consult with both your parents and your siblings, if you have any, to discuss their preferences and abilities for elderly care. It is also important that you inform your parents of long term care insurance now and have them purchase it so that they can be more financially secure to pay for their caregiving expenses in the future. You can have peace of mind that they will be well taken care of financially and physically. It’s also very important to take care of yourself in this process because you are the one who will inherit and carry on your parent’s legacy. It’s important to do these things now and break the cycle so that you don’t encounter trouble down the road when your parents are in need of care.

Helpful Artifacts

Wealth: News

Family Caregiving

What is Long Term Care?

Caring For Your Parents

Widowhood

Wealth: News

Learning How to Carry On

Widowhood is a phase of life one would never think would happen to them, until it does. For this reason it’s critical to be prepared for how to carry on with your life after the death of your spouse. When you’re ready to handle the financial tasks that accompany widowhood, you can start by calling your husband’s employer to collect any life insurance and retirement benefits and can make settlements easier by probating your will to validate its authenticity. One very important thing to remember is to not spend your money all at once. Once you have collected your husband’s life insurance money, it is wise to invest it; however, this should be done six months to a year after your husband’s death. There is no rush on you to make any major financial changes in your life, but this serves as a safe place for you to keep your money until you’re ready to make a decision. Then it is a good time to revisit your investment plan and evaluate where your money should go as well as revise your will, power of attorney, and insurance beneficiaries. Lastly, and most importantly, take care of yourself and reach out and take advantage of resources you have available to you.

Helpful Artifacts

Wealth: News

What Women Need to Know

Divorce/Widowhood Resources

Widowhood: Be Prepared to Carry On

My Planning Team and Legacy

Wealth: News

Assembling a Winning Team 

I believe our legacy is what fuels us and our passions and gives us a chance to show those passions to the world in a unique way . To ensure that we accomplish our goals and legacy in life we have to start by assembling a planning team early. This team is comprised of both professionals and your family members. It is very important that every team member communicates with you and that they do so early on. Communication will help reduce stress and confusion in the long run. It's also important that your team members understand your values and ensure that they be carried out in your legacy . For me personally, I want to work with the underprivileged populations both in the United States and abroad . It is very important to me for everyone to receive equal treatment; therefore, social inequality takes up a huge part of my heart . My goal is for my legacy to reflect my philanthropic and professional career work with these populations . I now know that having a planning team that knows what I value is important and that it's never too early to start looking for members.

Helpful Artifacts

Wealth: News

Developing a Winning Planning Team

My Planning Team and Legacy

The Legacy Planning Team - Philanthropic Advisor

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