When looking for mutual funds or exchange traded funds with low expense ratios, it helps to first know what you own and know what you want to own. Low expense ratios are important as is good performance and lower risk.
Do you feel like you are paying too much for medical needs? A Biden administration may impact the cost and coverage of your heath insurance and the overall price you pay for medical goods and services. Much will depend on who ultimately controls the Senate and the negotiations the parties make along the way.
In the early stages of widowhood, there is likely a whirlwind of financial concerns that widows have. Rather than addressing all of these financial issues up front in a hurried manner, there are six key steps a widow should take to begin to address the important financial issues.
With the myriad of issues on the horizon for those recently widowed, it is important to take your time, stay organized, and be willing to get the right type of support when and where needed. In this article, we are providing a useful checklist that you can modify for your own use on your unique journey.
A widow’s support network can serve critical roles during widowhood. Whether it is helping to plan for the funeral, helping with the emotional aspects of the grieving process, or getting clarity around finances, the right combination of friends, family, and professionals can help widows in their journey.
Deciding whether to move after becoming widow is a major decision. Deciding whether to move cross country or stay put or deciding whether to downsize into a condo in the same town or remain in your current residence, there are both financial and non-financial considerations.
Determining the right asset allocation for widows should not be a cookie-cutter exercise. The proper asset allocation is dependent on the widow’s unique financial situation and overall goals. Rather than being sold annuities to provide “safe income”, widows should consider adhering to the asset dedicated approach for the right combination of safety and growth.
The grieving process for widows – while natural and necessary for growth – can obviously be difficult to go through. Fortunately, there are many places and people to get support from, including professional therapists, support groups with professionals involved, or workshops. With the assistance of professionals and others, more healing and accelerated healing may take place.
