Many people postpone writing a will. Maybe it’s because we don’t want such a tangible reminder of our mortality. Or perhaps we view the process as relinquishing the ownership of our property. Whatever the excuse may be for putting off the drafting of a will, many people do not realize that writing one actually prevents what is feared. In fact, a will may be the most important document that you ever write, because it allows you to select the persons who will receive what you own when you die.
Corporate executives and insiders who own millions of shares in their companies typically enjoy a very substantial net worth. But with that net worth comes tremendous downside risk. Selling those shares of company stock to achieve diversification and reduce risk is not easy, since federal regulations govern when insiders can sell stock.There is, however, a solution to this problem— the blind trust.
With uncertainty about future Social Security benefits and other sources of income, focusing on your retirement plan savings is critical. Even small saving increases, especially if implemented on a routine basis, may add up to more savings at retirement. Regardless of your age and years to retirement, most financial planners think that it makes sense to save the maximum in your plan, as much as your budget will comfortably allow.
