I had a one on one client in my office the other day, and she was ecstatic with how much money she has already made with Airbnb. Within the first month, she made over $400! The main reason she was so enthused with the amount was she booked a trip without realizing how she was going to pay for it. She always defaulted to using her credit card and figuring out how to pay the balance off later. You might be guilty of this as well, let’s just put the purchase on my AmEx and pay it off later…right? Luckily, she’s been working with me for the past 6 months and now knows that this concept is not the solution. She’s gotten away from this bad credit card habit, and knowing the many evils associated with the credit cards, she has now found a way to help pay for her trip.
And lucky for you, both her trip and strategy for paying for the trip, got me thinking about the number one goal I’ve seen among retirees: TRAVEL! 50% of the people I meet with, who are with coming up to retirement, say they want to travel in retirement and the other 50% say they NEED to travel in retirement. It seems to be on most pre-retirees minds, and they usually have their first trip already planned out. So I did a little research for you, and found some budget friendly travel tips to share. Some might not work for you, but if you are desperate enough to travel, then they are definitely worth thinking about. So keep an open mind!
My Top 5 Cost Effective Travel Tips:
There seems to be a rising trend of spending more and more on travel for retirees. Overseas Adventure Travel has found trips for people over the age of 50 has grown by 67% in a decade. Most people I speak with explain they didn’t have the time to travel or to really enjoy vacations while they were working. They feel retirement is their time to do the things they’ve been putting off for the past few decades. And while I can understand this, it is also important to remember your retirement plan and not to spend it all on a few trips. You are going to be retired for a long time, and need to make sure you stay within the realm of reality with your travel spending. Before you start booking all your trips, think about the following questions:
Jessica Weaver, CFP®, CDFA™, CFS®
Raymond James is not affiliated with the independent organizations referenced in this article. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed web sites or their respective sponsors. Raymond James is not responsible for the content of any web site or the collection or use of information regarding any web site’s users and/or members.
It is nothing new that student loans are becoming an increasing expense for college graduates, with the majority of students leaving school with debt equivalent to a small mortgage. It is no wonder they have trouble moving out of their parent’s house, trying to buy a car or house, or becoming financially independent. I recently met with my cousin to go through her loans and put a plan in place to tackle them as quick and cost effectively as possible. The whole process can be very overwhelming, and since the trend seems to be only getting worse, I thought it would be beneficial to talk about what to do before college. So let’s start before you even get to your new school.
How exciting, you are starting the college search process. You probably never thought there were so many choices out there, small and big, cheap (ok maybe I should say cheaper) and expensive, industry focused or liberal arts. The list of options goes on and on. Do you want to stay close to home or go as far away as possible? Do you want a school focused on internships? How about a campus so large, you will somehow get lost even after your fourth year? You will hear from everyone to put a list of priorities together to help narrow down the search, but what they won’t tell you is to look at the school’s value. What I mean by this is to see how much you are willing to pay for the extra “bonuses” of the school such as nicer dorms, new fitness center, great business department, or whatever it is. You are investing in this college or university, so think of it like researching a company you might buy. Are those added bonuses worth the hefty price-tag?
I remember hearing one person say, “I don’t know why we put a $200,000 decision in the hands of an eighteen year old. No offense, but $200,000 is a lot of money and the magnitude of that price-tag might not sink in when you are looking at schools. This is obviously the case since student loans have grown between $53 billion to $120 billion between 2001 and 2012. Colleges are expensive, and the price is only going up, yet wages haven’t gone up. More and more kids are borrowing money to go to these very nice but pricey colleges. I mean some of them look like country clubs! The problem is they aren’t thinking about what $20,000 of student loans will look like when they graduate. A lot have upwards of $50,000 of student loan debt. And then you add a jobs market that is NOT in favor of graduates, with the average income being $50,556 in 2016. However, that is if you can get a job!
Let’s do the math:
If you are lucky enough to get a job and one that pays $50,000, your net income after paying taxes is about: $42,000.
The average student loan payment is $280 a month or $3,360 per year. This is based on a debt total of $25,000 with an interest rate of 6.8% being paid off in 10 years.
Now your income is $38,640. But what if your debt total is double that? What if you borrowed $10,000 each year of school to go to your top choice for a total of $40,000?
Well your total annual payments each year would be $5,520 assuming a 10 year loan at 6.8% interest. And you would waste $15,239 from your interest payments. Is that school worth it to you to spend an extra $5,500 each year for ten years? Ten years is a long time to be stuck paying debt. Trust me, you will want to move out of your parent’s house at some point (I’m sure they want you gone too!), you will want to get married, buy a house, travel, and the list goes on and on. And having these payments can get in the way of those dreams.
Maybe it is and maybe it isn’t, but do the math before you commit. Just like any big purchase, put a price limit on your search. Here are a few items you need to consider before borrowing for college:
Jessica Weaver, CFP®, CDFA™, CFS®
Any opinions are those of Jessica Weaver and not necessarily those of RJFS or Raymond James.
In our last We Are Women post, I thought it was appropriate to end with the following quote:
“It’s a great satisfaction knowing that for a brief period in time you made a difference.”
Isn’t that the point to our lives, that we have made a positive difference in someone’s life? Whether it’s your own life, your children’s, your family’s, your loved ones, or whomever’ s life you’ve been able to touch. I am writing this post the day after my first book signing of my #1 International Best Seller: Strong Woman Stronger Assets. And I thought it was a very fitting post to follow up my presentation from the event since below was my speech for it:
iI was driving home the other day and a Miley Cyrus song came on. And as any Miley Cyrus song would, I started thinking about my life to new depths. I had my dog next to me, our baby girl in my belly going to see my husband and the home we have built together. And I thought this is what it is all about. It isn't about more money, it is about finding happiness and peace in our lives. It's about uncovering what drives you, what your asset is. Just like the title of my book Strong Woman Stronger Assets, Assets is whatever you are working so hard for. It's not to earn more money or save more money, it's about the lives you can change with that extra money. It's about having no stress over how we are going to afford this baby, college down the road, and her wedding. And helping women gain control and confidence in their life is what fulfills me and gives me great happiness.
I committed to writing this book the day after I found out I was pregnant. And something about being pregnant made me think about what kind of role model I am going to be to this little girl. Obviously we didn't know she was a girl yet, but it was probably destined. Being able to tell our girl I've been able to change women's lives and be a positive influence on them is such a great feeling. Our baby along with other young women and girls are a part of a movement where more women are controlling the wealth, more women are owning their own businesses, and more women are becoming executives and CEOs. And it all starts with gaining control over your money, getting confidence for the next chapter of your life, and clarity over what it is you really want, what will bring you happiness.
So let’s start the process and get you towards your own happiness. Let me ask you, who here has things in their life they’d love to get rid of? And who has stuff they’d love to add to their life?
We all have pieces we need to shred from our lives, and we all have dreams and goals we want to get to someday. What I want for you is to get to those dreams sooner than later and start taking action today to get them. We all become a prisoner to “maybe one day,” maybe one day I can travel, maybe one day in retirement I can exercise, maybe one day if I win the lottery I can help my family. One day, but not today. Well I say why not today? Let’s get to the core of what it is you really want, put a plan together, and take action. It all comes down to living your self-worth and opening up your eyes to what your life is worth to you. Let’s level up your life tonight!
So when you go home tonight, open your book to chapter 3 and think about 3 items you want to discard from your life and 3 things you want to add to your life today!
This is the first step toward getting the life you want to live. If you don’t think about it, if you don’t write it down, it will never happen. You will never take a step toward getting it. And it is your asset. Remember assets isn’t just money, it’s whatever change you are working so hard for. Maybe it’s telling your daughter as she tries on her dream wedding dress, “honey, I got this, don’t worry about the price.” Or “Telling your boss you quit because you are starting your own business, that you found your dream job.”
So what is your asset?
Now who likes to procrastinate? Who loves it especially when the thing they’re avoiding overwhelms them?
This is what I’ve found with money, most people are overwhelmed by it so they steer clear of it. This book breaks it down in a relatable fashion so you can understand why it is so important to take charge of your money. I interviewed over 50 women for this book and for my blog to get stories to inspire you to take that first step toward getting the life you want.
And here is an exert from the book to give you an idea of how relatable I can make it:
Think of it another way. Let's say you have a wedding coming up, and you need to find a bombshell dress. One where the instant you put it on, you feel freaking fabulous. I know you know what I’m talking about. Hugs all the right curves, maybe forgiving in some other areas, and your date can’t stop staring at your butt. But before you find the dress, you commit yourself to losing a few pounds. So, you wait a few months to start looking, then a few months turns into a year, and still no dress. Finally, it is the night before the wedding, and you find yourself in a dead sweat in the dressing room with dozens of dresses but no contenders. Let me ask you, did procrastinating benefit you or endanger your chances of finding THAT dress? You’ll be showing up to the wedding in an old dress that probably has a stain on your back, maybe a hole under your armpit, and you'll hope no one notices. If this is the case just for a dress, imagine how procrastinating with your life and money can turn out for you.
In the book, we will create your own plan so you know exactly what to do and when to do it, which takes all the stress and anxiety out of your money. You will gain confidence to move forward, clarity over what it is you’re working for, and control over your money habits. Too many times you don’t realize how much your money habits are jeopardizing your success and in the end happiness. When you see your bank account at a new low or your debt at a new high, your happiness plummets, your self-worth falls, and you feel like you’ll never get to your goals. But, when you see your bank account climbing higher, you feel better, gain confidence and belief in yourself, and your account can start racing to new highs.
When we are in a dark place or going through a transition, we forget our self-worth. We tend to value ourselves very low and think, “This is what I deserve.” Your children, spouse, and families witness it, and will start thinking the same way. But it doesn’t have to be that way. We all have a critter part of our brain that tells us we aren’t worth it, that we suck. By knowing it’s there, we can address it and silence it. This along with other tweaks and adjustments you can make will get you to start living the life you want and the life you deserve. I will take you step by step to give you the knowledge you need to know about your money, open your eyes to different possibilities, and show you exactly what to do at the end of each chapter. Information is great, but if you don’t know what to do with it, then it is useless. Isn’t it? By giving you a call to action, it ensures you will get it done instead of wasting another year being “stuck.” As I say in Strong Woman Stronger Assets, I hope this book is the piece that enables it all to click into place when it comes to understanding your relationship with money, and that your world will start to shift in the same way it has for me over the past few years.
And if you'd like to buy my book, just click the link below. Let's start your transformation now!
Views expressed are the current opinion of Jessica Weaver, but not necessarily those of Raymond James. Investing always involves risk and you may incur a profit or loss. No investment strategy can guarantee success.
In my second We Are Women posting, this week’s quote is…
“Remember, we all stumble, every one of us. That’s why it’s a comfort to go hand in hand.”
How important it is to have a support group around you when you go through a tough time. Your true friends are there with you when you are at your worst, but are also there when it’s time to celebrate. They are the ones who will drop everything to help out, and are truly happy for you when good things come your way.
During the times you stumble in life, you will have grief to deal with. It’s important to realize this, and not shut down completely. Allow yourself to grieve at your own pace, and don’t let anyone tell you how you should feel. I will say to wait on any big decisions for about a year after your tough time. There will be items to take care of immediately of course, but give yourself time to process the major change in your life. When you are grieving, you won’t make the best decision for your life, sorry but you won’t. You might rush through the decision, you might make the choice out of anger, but whatever happens, you will likely regret it down the road.
When you make a decision based on such high emotions, you are making a rash decision. This choice will feel great in the short term, but that feeling doesn’t last. And the feelings you will get in return, are regret and disappointment. So whether you are suddenly single from divorce or losing your spouse, take time before you completely change your life.
One woman, we can call her Sally, lost her husband very expectantly in a car accident. She seemed ready to move forward very quickly, and called us up to meet to go through all the paperwork within the first two weeks of his passing. Sally was ready to get everything transferred, make some quick decisions, and mark it off her to do list. A few weeks after meeting with her, we received calls from her sister. It seems like Sally was falling more apart day by day, completely stressed out about the money, and acting very irrationally. She put up quite a front to us, we would have never thought this was going to happen.
We took extra time with her to make sure she understands everything, let her ask questions whenever they come up, and address any concerns she has for the future. When you put up a front, people don’t know you are still hurting inside. They won’t offer to help because to them you seem fine and tell them you are fine. They won’t know you are terrified inside and have no idea what to do. They will expect you back at work like your old self, and ready to move on.
Now when you are ready to move on to the next stage of your life, here is a quick checklist to help get you moving forward:
Any opinions are those of Jessica Weaver and not necessarily those of Raymond James.
Due to the early arrival of our bundle of joy, postings will be delayed a week. Meet Andrea Claire Weaver, aka Andie, who surprised us all by coming 4 weeks early. We aren't sure if it was the 300 squats I did everyday or the eclipse that made you come so quick, but we are so happy you are here, healthy, and stealing all of our hearts!
I was at Barnes and Noble the other day to see my poster in their window for my book signing. It was a very surreal moment that quickly ended as I creepily tried to climb behind the counter to get a better picture with my poster. After almost breaking the display, a very friendly and helpful employee got the poster out of the display for me. Anyway, during my time there my eyes caught a book titled We are Women, Celebrating Our Wit and Grit. You can guess I was drawn to it immediately and had to buy it.
The book features vintage photos of women with quotes to go along with them. It’s such a fun book to go through, so I figured I’d use it as inspiration for my next few postings. And what better quote to start with than this one:
“If you want anything said, ask a man.
If you want anything done, ask a woman.” Margaret Thatcher
Oh there are so many ways to go with this quote, and I think I’ll start with what my husband likes to do. Whenever we need something done, he will say “we need to do this.” Such as, “we need to call the cable company, we need to bring Duke to the vet, we need to clean out the closet.” And what I’ve come to realize is that the “we” really means you. So he is really saying “you need to call the cable company, you need to bring duke to the vet, you need to clean out the closet.” I guess it’s his nice way of nagging. But it all comes down to if I need something done, I do it, and this can be a good thing but it can also be a fault. It can be a fault because you get so used to doing everything yourself that when you actually need help, you won’t ask for it.
I can attest to this since we recently renovated our bedrooms in preparation for our baby coming. But this entailed cleaning out every dresser, armoire, closet, nook, and cranny, which means a lot of packing and lugging clothes into our basement. I am now eight months pregnant and all that carrying was a very bad idea for my back. I know I should of asked for help, but I felt bad asking for help and tackled it myself. And now that the rooms are done, we have to move everything back in. And guess what I should do? Ask for help, yet I won’t. Everyone keeps yelling at me to stop carrying large items, yet I keep doing it and keep getting back spasm after back spasm.
It is similar when we are dealing with our money, it can be uncomfortable to ask for help. It can be overwhelming to seek out a professional to ask some questions. And it can be just plain frustrating as heck to find the right one. Some people wait because they are embarrassed, others wait because they don’t know what to ask, and you might be waiting because you think I can do it on my own. Whatever the reason is, your life and your money are worth talking to a professional. If you spend $30,000 on a new bathroom, would you look online to figure out how to install a new sink and chance flooding the entire new bathroom? Probably not. So why DIY your finances or google search your next financial move if you’ve spent years saving up for your next goal: a new house, a vacation, retirement? Talk with a professional, please!
You are a woman, so I know you take charge. You are part of a bigger movement of women taking control over their finances, being an active member in the family’s financial decisions, and now you can be an advocate to speak with a professional.
Let me tell you about a woman, we will call her Anne, who came to us after having quite a mishap with her money. One day she went to the bank and started explaining how unhappy she was with the investment performance of her current advisor (who was not me) for her IRA. The bank teller sent Anne over to one of their advisors, who had her sign paperwork to open a new account and rollover her account so he can manage it. Now her current account was an IRA, but the new advisor set up a non-retirement account and had the money deposited into it. A few years later, she receives a notice from the IRS stating she owes them $50,000. You can imagine the shock on Anne’s face when she sees the number, there must be a mistake right? Because the advisor took all her money out of the IRA and had it deposited into a non-retirement account, she owed taxes on the entire IRA amount. And she had no idea that is what the advisor did.
Now Anne did meet with a professional, but unfortunately, they aren’t all gems. So when you do sit down with a professional, make sure they explain everything to you. And make sure you understand what they are saying before you agree to it. As you can see, mistakes with money can be extremely costly. So please don’t DIY it, google it, or just do what your neighbor is doing. Promise me, you’ll talk with an advisor first, one you are comfortable enough with to ask questions, and one who can explain it to you so you comprehend it.
To help get you to start taking action and getting it done, just click the button for a FREE, no obligation 10 minute call with me.
Jessica Weaver, CFP®, CDFA™, CFS®
Any opinions are those of Jessica Weaver and not necessarily those of Raymond James.
What happens when you wake up one morning and your plan falls apart for some reason or another? Maybe you’ve had a set back with work and aren’t making the amount of money you thought. Or you’ve had one, two, three big and unexpected expenses, so that goal of yours now seems impossible. What are your options now that your perfect plan isn’t so perfect anymore? What do you do?
Well it seems you have two options. 1. You can give up because your plan didn’t go according to plan. OR 2. You can tweak your plan, adjust it, and get back on track. Remember a few weeks ago, we talked about choices, so here are your choices. What will you choose?
In my book, I talk about how much more important our reactions are to set backs and road blocks than our initial actions. Life is 10% what happens to us and 90% how we react to it. I think this is so important, that I wrote an entire chapter on it! If you haven’t bought Strong Woman Stronger Assets, here is the link to get it:
My husband and I have a bucket list of stuff to do before our baby is due. We’ve been crossing the small stuff off, but some of the big and very daunting items are still on it. We have a four room renovation lingering over our heads, one of the rooms being the nursery. Right before we were going to get started with the renovation, the ceiling light fixture in our foyer started dripping water. Dripping, might not be the best verb, pouring water is more like it. We ran up to the attic and found our AC unit was leaking water everywhere. The first thing that ran through my head was no AC and being pregnant! Next was how are we going to pay for this since it turns out we need a new AC unit. Luckily for us, we had money set aside for our renovation. Unfortunately, that means our renovation is being put on hold for a bit longer until we figure out the costs of everything. So our big renovation plan went out the window. Or did it? I started playing with the numbers, took out parts of the renovation that can wait (not the nursery!), and now we are able to modify our plan and get it done.
I was very close to a few breakdowns, especially being extremely hormonal. Some nights my husband would open the door and throw in a pint of Ben & Jerry’s ice cream before coming in. It was like an ice cream grenade to settle me down first! But remembered, this is why we keep money in our emergency fund. It’s there for unexpected emergencies like this! Crying wasn’t going to fix our problem, though it was tempting. Complaining wasn’t going to get us more money. Side note, I just saw a video about complaining and how it retrains our brains to make us negative. Complaining creates new pathways, and these new pathways are easier to access so we use these negative, complaining routes in our brains more and more with every complaint. Scary!
I always say it is critical to have your financial plan or map with any goal, but what’s equally important or more important is to review your plan along the way. Life comes up, and it does tend to get in the way, so we always need some tweaks and modifications to our plans. Let me give you another example.
We had a woman in our office for a discovery session, and she was out of work for two years. This was not part of her plan, and made her very hesitant and actually completely fearful to make any decisions with her life. She had a plentiful amount of money in the bank as her emergency fund since the two years of unemployment really terrified her of it happening again. She also had some debt, about $10,000, from three unexpected, large expenses with her house. She explained how much the debt was weighing on her and made her feel terrible and so far away from her retirement. It took us some time, but we finally were able to explain this is why she needs a plan. Instead of being paralyzed and stuck in her current situation, a plan can help give her confidence, help get rid of that huge fear, and better understand her options. She had a huge emergency fund, which I explained is there for these large expenses. By having a plan catered to her, she can understand what her best option is to pay off the debt, save for retirement, and actually start doing some of the things she really wants to do. I asked her what she wanted for her retirement. She said to travel, continue to give to some charities she is very passionate about, and to live by the water. But before she could finish any of these wants, she always said her fear will never let her do any of them. Can you imagine wanting all these things, but never actually doing them? She only has one life to live, what would she think if she looked back when she was 90 years old and never had any of these enjoyments during her life?
By the end of the meeting, she started to understand she needs to stop stalling and staying stuck in her fear in order to move forward. She’s been living this way for already too long, and it is time to change. What I haven’t told you yet is she already has an advisor, but this advisor hasn’t asked her what her concerns were with her money. This question alone brought up so many concerns and fears, it took 45 minutes for her to go through them all. And he definitely hasn’t asked her what she really wants for retirement. Least to say, she already felt so much better leaving our office, she said she really needed to open up about her fears because they were paralyzing her. She didn’t realize how much she was sabotaging her own happiness until our meeting was over, and for that she was so grateful.
So don’t live in fear, don’t live in the past, and don’t give up on your dreams. There is a way to get to them, it just takes some creative thinking and adjusting our plans. I’ve done it for myself, I’ve done it for many women, and I can probably do it for you too. Let’s set up a call to see how we can get you on your way. It’s your life that’s speeding past, don’t wait until it’s over and it’s too late. Grab it now!
As always, Happy Planning! AND Adjusting that plan!
Jessica Weaver, CFP®, CDFA™, CFS®
The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Jessica Weaver and not necessarily those of Raymond James. There is no guarantee that these statements, opinions or forecast provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
This week is a guest blog by Deborah Gussoff, MBA, CPO® Certified Professional Organizer® and Residential Specialist, who I recently did an event with. Her knowledge on organizing is so tremendous, I wanted to spotlight her on my blog. Hope you enjoy!
How to stay sane when the family moves in
Adult children – either on their own or with a partner or child in tow (or maybe both) – are moving back home. Elderly parents have downsized for health or financial reasons and have moved in with their adult child. And, all of a sudden, your house is not only yours.
How to Stay Organized When Adult Kids Move Back Home
Set Ground Rules. Think about the things that make you crazy (i.e.: discovering an empty container in the refrigerator or pantry) and set rules surrounding those stress points. Perhaps something like “If you use it up, replace it or, at the very least, put it on the grocery shopping list.”
Determine What You’re Willing to Tolerate. Perhaps it’s important to you that your kitchen counters remain clear, but you’re willing to tolerate dirty laundry on the floor in your adult child’s bedroom. Clearly articulate the things you find unacceptable; remember, it is still your
Identify what space is available. Ideally you should do this before your family member moves in. If the only space you have for your adult child and all his stuff is the spare bedroom, make sure he knows that before arriving with a king size bed and two sofas. Encourage him to put excess items in storage or sell/donate them. This includes identifying space available for his car. Do you have room in your garage for an extra car? Do you live in a townhouse community that does not permit on-street parking? The time to figure out logistical constraints is in advance of the move.
Add/create storage. It’s hard to require your family member to organize and store her possessions neatly if there is nowhere to do so. So, add a set of drawers, shelving, or built-in bookcases to provide a place to house her things.
Evaluate your attic, basement or garage for available storage. Take a look in these storage areas and see where you can set up extra shelving for your relative to store her out-of-season clothes and equipment, storage bins, and other items. There likely isn’t enough space in the bedroom you’re offering, but there may be space that can be used in one of these storage areas.
Keep the lines of communication open. Don’t let things fester; if something is annoying you, have a discussion and be open and willing to listen to everyone’s viewpoint.
Below is a link to her website and newsletter.
Raymond James is not affiliated with and does not endorse the services or opinions of Debra Gussoff.
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or collection or use of information regarding any website’s users and/or members.
As we approach my due date, I wanted to share with you why I will only be taking a few weeks off from work. My baby shower was over the weekend, so now reality seems to be sinking in. I’ve been getting a lot of comments about why I only want to be home with my baby for such a quick period of time. I’d love to hear your thoughts since it is such a big topic now. But before I get into my reasons, I want to say we all need to give mothers a break whether you are a working mom or stay at home mom (or as I say non-compensated spouse since you are most definitely still working!). I’ve had enough of this silly rival between moms, when we are all just doing our best to get by and not fail our children, our spouse, and ourselves. So I say enough of this I’m a better mom because I’m home raising my children or I’m a better mom because I work. We have to stop judging, stereotyping, and belittling our fellow moms. Let’s instead unite as moms, because we really do have the toughest job around.
I do feel our country really needs to be more accommodative for moms and dads, and that starts with better maternity leaves and paternity leaves. I’m sure I sound like a hypocrite since I’m only taking a few weeks off, but I do feel employers need to be better about men and women having children. It would encourage them to stay in the workforce instead of leaving. I’m lucky to have a husband who will have four weeks off when our daughter is born, which is NOT typical. And this is my #3 reason for coming back to work so quickly, I have an amazing support system. My mother and mother in law will both help with babysitting, and my husband will watch our daughter on his off days during the week. I CANNOT wait to see the outfits and hairstyles he has her in when I get home from work. It will all be worth it to see how many Duke Basketball onesies he can put her in. I didn’t grow up very close to my grandmothers, so I am thrilled my daughter will be extremely close with her grandparents. This is a huge BONUS in my eyes.
My #2 reason for my short maternity leave is I love what I do. I get so much satisfaction, happiness, and fulfillment from my job that I cannot imagine taking any more time off. And I do NOT think that makes me a bad mom (or mom to be). I’m so excited to come back to work, and have an entire journal of ideas, events, and blog postings to keep my excitement going. I can't wait to start my events again, continue writing, and help more women. Just to give you an idea of how enthused I am, I'll be planning 2 events right off the bat while I'm home. I'm going to throw a book party to celebrate my book, say thank you for supporting it, and to help raise money for a charity that helps abused women and families. The second event is an exclusive event for my female clients and will address one of the biggest concerns I hear: who will take care of me? Who will take care of me when I get older and need assistance? I've been taking care of everyone else my entire life so who will be there for me then?
And I'd love to hear what other events you'd like to attend, webinars you'd like to see, and what areas I can do some blog postings on. So please fill in the sheet below with your suggestions, I want to be as productive as I can because that is what makes me happy.
And my #1 reason is YOU. I have this urge to continue helping more women, and that passion won’t go away with my baby. I have a feeling it will only grow and ignite more fire within me to help you. I love my clients, my readers, and all the women I’m able to touch so I won’t stop until I help more. So please let me know what topics you want more information on, what events and webinars you’d like to attend, and how I can help you beyond this posting. Fill out the box below so I can continue on my mission.
Here I am with my mother (in yellow) and mother in law (in pink) at my shower. I was told to be more sassy in my pictures, so this is what you get! They did an amazing job with my shower, and I want to give them a big shout out and thank you!! Baby Girl will definitely become a strong woman with both of you in her life.
Any opinions are those of Jess Weaver and not necessarily those of RJFS or Raymond James.
When dealing with an estate, you really never know what you will find…and miss! It’s usually beneficial to bring in a professional to help you sort out all the ins and outs of the estate so nothing gets missed during the process.
Earlier this summer, my husband lost his grandfather. Pop, as I called him, had a great life and lived to the age of 90 despite his many health issues he encountered throughout his 80s. At times, it felt as if my husband was his uber driver going from one doctor to another nonstop. No one in the family would have guessed he’d live to 90, and always expected his wife to outlive him. Well did he prove us wrong!
He was a great man, had two sons, had three grandchildren, and a great granddaughter. He also got to hear the heartbeat of my little one, which made him very happy. Pop really was a man about his family, and because of that, he did a very good job planning for his loved ones. Therefore, it was no surprise to me when my father in law called me up to ask a few questions about his estate and the many life insurance policies he had. I’m a sucker for these types of policies, I know I’m a nerd, but I find them extremely interesting and cool!
The earliest policy we found was from the 1930s, and the death benefit was $500. Wow, I know that won’t get you much now a days, but that was a pretty penny back then. The policy was first bought by Pop’s parents, and they paid $0.15 a week for that type of coverage. And you may know the name of the insurance company, Metlife. Back then, parents bought life insurance coverage on their children to cover funeral costs in case anything terrible happened to their child. We found about 8 other insurance policies in his pile of documents and a few other items that added to his growing estate.
By tracking an old 1099 tax statement, we found out he also owned 101 shares of Prudential stock. No one would of known this if they didn’t do a little digging and found that 1099, and it would of costed them $10,000. Some other additions to his estate included additional life insurance from his old policies. You see whenever Pop took out a new life insurance policy, he was able to choose how he’d like to receive his dividends. Some people will take the dividends in cash, some will use the money to reduce their premiums or payments on their policies, and some will use the dividends to buy additional life insurance. Now remember, Pop was a family man and always put his family first, so guess which option he choose every time? He used the dividends to buy more and more life insurance for his family, and because of this, there was thousands of dollars of extra life insurance. You wouldn’t know this if you didn’t know how to read the original life insurance policy. From these additions, the estate grew by about $30,000, which may or may not seem like a lot to you. But hey, an extra $30,000 is still an extra $30,000, right?
What about if you’ve already settled an estate and now think you might of missed something? Well here is a great website to see if there is any money outstanding somewhere: missingmoney.com. You never know what might be lurking out there unless you search a little. The investment and insurance companies aren’t responsible to let you know if they have some of your decedent’s money, it’s up to you.
I remember one person saying if you don’t like someone, name them the executor of your will. Kind of a twisted sense of humor, but so many estates can be a complete and utter hot mess. The executor is the one who has to find all the inheritance, deposit it into the estate account, probate the will in court, and complete multiple tasks. It’s no wonder they can charge the estate for their time, estates can take 1 year to multiple years to settle. And don’t forget you have to deal not only with the money part of the estate but also the anxiously waiting family for their inheritance. We’ve heard one couple say at the funeral their sister-in-law was asking for money for her son’s college, AT THE FUNERAL! You can see why deaths cause so much friction between families. There are ways to make sure it doesn’t happen with your family, so you potentially leave your family in an even better place than before. Wouldn’t that be nice? If they can not only survive it, but thrive after, which is what Pop did with his estate. So here are my 3 recommendations when dealing with any estate:
Jessica Weaver, CFP®, CDFA™, CFS®
Any opinions are those of Jess Weaver and not necessarily those of RJFS or Raymond James. Raymond James does not provide legal or tax services. Please discuss these matters with the appropriate professionals.
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