ProviderCFO’s Post

As this Salon.com article by Daria S. notes, "With homeownership increasingly out of reach, the stakes for fixing the nation's broken 'wealth escalator' grow." Katherine Lucas McKay, Aspen FSP's associate director of insights & evidence, contributed thoughts on why the current system isn't working and what that means for generational wealth building. 🗞 Read the article: https://lnkd.in/eZdpExC4

A 2024 survey by Caring.com revealed that only 32% of Americans have a will as part of their estate strategies. Many put it off, thinking it’s too early or they don’t have enough money to need one. Estate management can be complex. So, it can be helpful to consider your estate strategy as an ongoing process. We’ve seen many families negatively impacted by common preparation mistakes. Here are just a few: 1️) Overlooking the benefits (and limitations) of a Financial Power of Attorney or Advance Health Care Directive 2️) Not providing details on how to access digital tools 3️) Not accounting for non-financial assets such as heirlooms, pets, etc. 4️) Not periodically reviewing your estate strategy 5️) Not preparing for the expiration of the Tax Cuts and Jobs Act (TCJA) at the end of 2025. Even if there are no changes to your situation, you may want to meet periodically with your estate team to discuss whether your estate strategy reflects current best practices in estate management. Talk to an advisor now. Call BMS Financial Advisors. #EstateManagement #LegacyStrategy #PersonalFinance #WealthTransfer

Financial Wellbeing Report highlights financial concerns of affluent https://lnkd.in/dr5KXSFf

When looking at where is best to move to in retirement - what should we focus on? While financial considerations can play a role, maybe we should look closer at quality of life as a big factor in the decision.

The end of the financial year is in sight, spring is almost here and enquiries are coming in thick and fast. There's a bit of energy around the sector. All the talk and innovation it’s sparking is great to see. But it’s also thrown up some big questions. Our Monthly Update for March has landed. RPs – make sure you’re on our list to get a copy by visiting: https://bit.ly/3sOezhc #sharedownership #housing #registeredproviders

Financial wellbeing changes over time. Our research shows that it varies by age group. As financial goals are achieved, financial wellness rises. Achieving home ownership plays a key role in this. #homeownership #financialwellness #financialliteracy Alexander Hassall Deborah B. Mike Roberts Anna Perera-Shaw

The current economic backdrop has caused average UK household wealth to drop by £35,000 over the past year. However, the majority of those with a plan in place remain confident and comfortable in their financial position.* The latest research from St. James’s Place shows how having a financial plan – and taking expert advice – can help you retain long-term confidence in your financial health. 👉 A plan can empower you to remain confident and take control. Advice can direct you towards making informed decisions and achieving your financial goals efficiently. 👈 #financialplans #wellbeing * Research conducted for St. James’s Place by Opinium, among 6,000 UK adults between 16 and 25 October 2023.

Single? This Is How Much You Have To Earn To Live Comfortably Note: In New York, a single person needs to earn $138,570, while in Cleveland, Ohio an individual can earn $81,786 and live comfortably, according to a Smart Asset survey. https://lnkd.in/eM4mjqki #personalfinance #wealthmangement #taxplanning #financialplanning #financialplanner #moneymanagement #single

A 2024 survey by Caring.com revealed that only 32% of Americans have a will as part of their estate strategies. Many put it off, thinking it’s too early or they don’t have enough money to need one. Estate management can be complex. So, it can be helpful to consider your estate strategy as an ongoing process. We’ve seen many families negatively impacted by common preparation mistakes. Here are just a few: 1️) Overlooking the benefits (and limitations) of a Financial Power of Attorney or Advance Health Care Directive 2️) Not providing details on how to access digital tools 3️) Not accounting for non-financial assets such as heirlooms, pets, etc. 4️) Not periodically reviewing your estate strategy 5️) Not preparing for the expiration of the Tax Cuts and Jobs Act (TCJA) at the end of 2025. Even if there are no changes to your situation, you may want to meet periodically with your estate team to discuss whether your estate strategy reflects current best practices in estate management. #EstateManagement #LegacyStrategy #PersonalFinance #WealthTransfer Resourcefully Yours,

Finance and fulfillment go hand in hand. It's not just about accumulating wealth; it's about building a healthy relationship with money. Financial Wellbeing is about gaining clarity, understanding our financial habits, and planning for the future. By aligning our purpose with these principles, we can find true fulfillment. For me, the power of Financial Wellbeing has been a game-changer. From analyzing my spending patterns to studying investment practices, I've learned to be self-reliant and plan for the long term. I've also found a way to harmonize financial ambition with making a difference. During economic downturns, upholding the principles of Financial Wellbeing has been crucial. It has allowed me to guide Edifecs to success and pursue my vision with RoundGlass, bringing Wholistic Wellbeing solutions to the world. While money can be a powerful motivator for success, it's handling it well that brings about profound happiness for all. #financialwellbeing #creativity #HolisticHappiness #financialliteracy