Surprise, your 60s have arrived! If you’re someone who hasn’t paid much attention to your financial future before, the 60s are the years to buckle down and get serious. If you have carefully planned your finances throughout your working life, then your 60s is the time to take a second look. Retirement is just around the corner for most people, so whatever your financial habits have been in the past, this is the decade that will determine what the next third of your life will look like.

Should you or shouldn't you?

Have you been daydreaming of owning a second, seasonal home? A vacation home situated on a mountainside with a fireplace or two, ski-in access and powdery slopes nearby – or perhaps a lakefront property with a front porch and a sweeping view of the sunlight on the water…sure sounds enticing.

Key to a smooth business ownership transfer.

From the outside looking in, it may appear that transferring a business (through a sale to an outside party or succeeding control/ownership to an employee and/or family member) is an easy, if bureaucratic, process. But the tiniest of scratches to the surface reveals all sorts of issues that require careful consideration; not the least of which is maintaining the success and profitability of the business throughout the ownership transition.

Here they come: the golden years. This decade could be the most critical when it comes to retirement planning. You have a career, a good income, and a plan in place for sending your children to college. However, chances are there are still things you need to do to strengthen your finances in order to retire.

Research is the First Step in a Successful Long Term Relationship

Many people select a financial advisor based on a simple recommendation from a friend or family member who “appears” to be financially successful. When your financial future may depend on the strength of another’s guidance, isn’t it wise to base the decision on more than just one subjective recommendation? There are many readily available, objective, and thorough tools that can help you choose a trustworthy and competent professional capable of helping to manage your money wisely. But finding the right advisor that addresses your unique and individual situation requires hands-on research. Chemistry (feeling comfortable with your advisor) is critical in your selection process, too. You deserve a planner you feel is approachable and will be available to you to answer your questions and concerns promptly and respectfully.

Avoid common financial pitfalls for a more secure future.

In life and matters of the wallet, rest assured that we all make mistakes. Mistakes are a critical part of our education process – but when it comes to your finances, some lessons and consequences can be quite lasting. In an effort to help you learn from others, and potentially save a great deal of money and heartache, you may wish to review some of the following most common financial mistakes, and ways to avoid or mitigate them.

Women, Money & Life’s Transitions

When it comes to finances, that old cliché holds true: “hope for the best, but plan for the worst.” This is especially true for women. Why? On average, over the course of our lifetimes, women:

While saving for retirement, many focus on the advantages of traditional Individual Retirement Accounts (IRA) and employer sponsored retirement plans. The advantages of these accounts include a regular savings method that reduces your current, overall taxable income – since your savings contribution comes “right off the top” of your paycheck; and the ability for your employer to make contributions, thereby growing your savings at no additional cost to you.

A different approach to a difficult transition.

It may seem a bit ironic to use the words “collaborate” and “divorce” together, but it is an alternative approach to dissolving a marriage that’s worth a close look if you are facing this major life transition.

'Tis the Season!

Just when it seems things can’t get any busier – December arrives. This month is typically loaded with family obligations, year-end business deadlines, and increased spending. This potent mix can wreak havoc on your budget and ultimately your ability to meet your own financial goals. To sleep a little easier this month and next, it may help to set aside a few hours now to firmly review your financial position and consider your goals and commitments in the coming New Year and “tax season”.