August 2020

31 08, 2020

Preparing the Next Generation to Inherit Wealth
Preparing the Next Generation to Inherit Wealth

Preparing the Next Generation to Inherit Wealth

BML Wealth Marketing2022-01-28T18:52:27-08:00August 31, 2020|Estate Planning, Financial Planning|

Estate planning is an important part of retirement planning for many reasons: You've worked hard for your money and want to see it passed down in the most efficient way possible for your loved one’s benefit. Unfortunately, costly mistakes are all too easy to make. Without careful planning and discussion, you could end up passing on a larger tax burden and leaving heirs uncertain about what to do. It’s important to discuss how you plan to transfer your wealth with your trusted financial professional and your loved ones when preparing the next generation to inherit [...]

27 08, 2020

You Don’t Have to Downsize to Declutter
You Don’t Have to Downsize to Declutter

You Don’t Have to Downsize to Declutter

BML Wealth Marketing2020-08-27T22:13:46-07:00August 27, 2020|Lifestyle|

If your nest isn’t as full as it once was, or you have more time on your hands in retirement, consider decluttering. Even if downsizing in the near future isn’t part of your desired retirement lifestyle, having less clutter in your living space and better organizing the remaining stuff can help make a world of difference. If you’ve accumulated more possessions than you need over the years, consider these strategies for decluttering your home. The Kitchen It’s easy for the kitchen to get cluttered with things that don’t belong there, like a book someone was reading at [...]

24 08, 2020

4 Goals to Meet When Crossing the Retirement Finish Line
4 Goals to Meet When Crossing the Retirement Finish Line

4 Goals to Meet When Crossing the Retirement Finish Line

BML Wealth Marketing2023-12-19T20:59:49-08:00August 24, 2020|Retirement Planning|

You have so much to celebrate and look forward to as you near and enter retirement: Retirement means the end of a long career, but the beginning of something new, and the “what” is up to you. The way you finish the race can impact the rest of your retirement, whether you’re approaching retirement or have recently retired. Meeting your goals when crossing the retirement finish line means having a comprehensive plan in place that covers these four key areas of retirement planning. Meeting Savings Goals Saving enough for retirement can be difficult while sending [...]

21 08, 2020

Can Nostalgia Overcome Aging?
Can Nostalgia Overcome Aging?

Can Nostalgia Overcome Aging?

BML Wealth Marketing2020-08-21T14:34:48-07:00August 21, 2020|Psychology|

You might think that the more recent an event, the easier it would be to remember it. And you might think that things that happened to you a long time ago would be harder to recall, but the human brain and memory are actually more complex. There is what psychologists call a “reminiscence bump,” which is the tendency for older adults to more easily recall events from their adolescence and early adulthood. And it turns out, reliving parts of this time in life can actually affect the aging process. Is it possible for nostalgia to [...]

14 08, 2020

Age Before Beauty
Age Before Beauty

Age Before Beauty

BML Wealth Marketing2020-08-14T17:10:19-07:00August 14, 2020|Lifestyle, Psychology|

Despite the fact that America has an aging population, there is ample evidence of ageism happening around us. The way we perceive older adults can limit our roles in society as we age, and a pervasive negative view of aging can have a psychological impact on us. Sometimes ageism can be seen in a seemingly benign birthday card depicting age as something to laugh at or feel bad about, but other times it takes the form of workplace discrimination. That’s why it’s important to be mindful of how you can avoid ageism in retirement – [...]

9 08, 2020

When It Comes to Social Security, Focus On What You Can Control
When It Comes to Social Security, Focus On What You Can Control

When It Comes to Social Security, Focus On What You Can Control

BML Wealth Marketing2023-03-23T21:28:48-07:00August 9, 2020|Social Security|

Even if you don’t plan to rely primarily on Social Security for income in retirement, it’s still an important part of your retirement plan. Despite its importance, only 4% of retirees claim Social Security benefits at the optimal time, losing out on an average of $111,000 per household, according to a recent study.[1] You might have many worries in today’s world, especially when planning for retirement. But, when it comes to Social Security, focus on what you can control. Is Social Security Recession-Proof? While Social Security benefits aren’t affected by the stock market (unlike income [...]

7 08, 2020

3 Ways to Create Your Own Blue Zone
3 Ways to Create Your Own Blue Zone

3 Ways to Create Your Own Blue Zone

BML Wealth Marketing2020-08-07T15:11:54-07:00August 7, 2020|Lifestyle, Retirement, Retirement Goals|

Have you heard of “Blue Zones”? No, they’re not places where everyone is a Democrat. They’re places in the world where there is an unusually high number of people living into their 90’s and even 100’s. These populations are known for maintaining good health well into old age. It’s not that they have special technologies, or the best doctors, or special genes – it’s thought to be their lifestyle. “Blue Zones” are found all around the world: The Italian island of Sardinia, Okinawa in Japan, and Loma Linda in California were the first to be [...]

2 08, 2020

Pension Or No Pension, Have a Plan for Creating Retirement Income
Pension Or No Pension, Have a Plan for Creating Retirement Income

Pension Or No Pension, Have a Plan for Creating Retirement Income

BML Wealth Marketing2021-08-01T22:06:28-07:00August 2, 2020|Retirement Income, Retirement Planning|

Here's proof that funding retirement has changed: In 1970, 45% of private-sector employees were covered by a pension plan.[1] Now, 4% are covered.[2] Pensions have largely been replaced by 401(k), IRAs, and similar retirement plans, and retirees must find a way to make their savings last throughout retirement. If you are lucky enough to have a pension, you still have important decisions to make as to how you want to receive payments. Pension or no pension, you should have a plan for creating retirement income. Can You Rely On Your Pension? Last year, General Electric [...]

Monthly Archives: August 2020