Creating generational wealth means preparing for any situation or family milestone that comes your way. When getting your affairs in order, here are 7 costly mistakes to avoid while planning your estate. Read More
Legacy planning is a financial strategy that prepares people to pass their assets to a loved one. If you can leave behind an inheritance to your descendants, that constitutes generational wealth. Your strategy for creating generational wealth? Totally derived from your ability to implement a strategy where your loved ones lose as little as possible in the transfer of wealth. Even if you’re on the path to building wealth - paying down debt, buying your first home, joining the company’s retirement plan - there are some basics for you to consider for the long term. It’s why we built an interactive checklist in the nav.it money app. So let’s review the basics of the legacy health checklist and talk why it matters. Read More
Planning Ahead: From Finances to Feelings, How Estate Planning Can Help You Cope with Loss and Grief
I want to highlight the lessons I learned as the almost-fiancé of a wonderful man who died too early, so others don’t make the same mistakes. Mistakes that I and those impacted by his death only corrected because we lost him, not because we were financially responsible. I highlight two main points: know their wishes and know their assets. Read More
Estate planning stirs a mix of emotions surrounding death and loss. It is easily procrastinated as the administrative hassle can be overwhelming. However, as daunting as it is, I argue that it's the number one thing we can do for our loved ones. Individuals with and without assets need to prepare for potential incapacitation, make arrangements for their body once they are gone, determine how they want to be celebrated, decide how their possessions will be dispersed, and elect who will care for their dependents. Read More
What's the history of wealth transference in the U.S. and more importantly what are the steps to building generational wealth?
1) Own assets like your real estate or home
2) Invest
3) Estate Planning
4) Get rid of debt
5) Start a business or side hustle Read More