In a sense, you have been planning for your retirement ever since you started working. Maybe you’ve been contributing to a 401(k) plan, or maybe you’ve been socking away money in an IRA, but without a doubt, you’ve been looking forward to your golden years. And I want you to enjoy those years without worrying about having to take out a reverse mortgage on your house.
Although none of us enjoy thinking about our own demise, we need to prepare financially for what will happen to our money and cherished belongings after we are gone. Unfortunately, not many of us do that. In fact, according to a Caring.com survey, only 4 of 10 American adults even have a will.
Similar to a company’s financial statements, a personal financial statement can help you assess your financial health and assist you in budget planning. It can also give you an idea of the kinds of information that banks and other lenders use to determine your ability to repay loans. Curious to know where you stand? Here, we show you how to get a handle on your finances by creating a personal