Why Some People End Up Broke During Retirement

It’s a tragedy if you end up broke during your retirement years. You should enjoy the remaining years of your life. Instead, you face financial woes and keep worrying about them. You also start having health issues that could worsen your condition. It helps to understand why many people become broke during retirement, so that you don’t make the same mistakes and face the same issues.

They didn’t save enough money

Everything boils down to savings. You can decide how you’re going to build your savings, but you must save. Understand the options and determine where to place your money. The worst thing to happen is when you start living from paycheck to paycheck. You can never escape the cycle if you maintain this lifestyle. So start changing your ways if you want to have enough savings off of your monthly income.

There was no preparation

Once you’re close to retirement, you must start to prepare. Others do it even if they’re several years away from retirement—research about how much it is to retire in your desired location. Compute the monthly expenses and how you can afford to pay them. Remember that you won’t have a stable income source anymore. Planning for retirement is different from your usual budgeting method.

They didn’t ask for help from experts

You might not consider help from experts now, but it can go a long way. They know how to help you get through your current financial mess and get ready for retirement. Check out Fingerprint Financial Planning if you want help from experts with years of experience in the industry. Follow the advice given to you, and you can straighten your finances.

They spent a lot when they were earning well

It’s easy to overspend when you have enough money to use. This becomes a problem when you no longer have a regular income. During retirement, you will rely on a pension. It might be a good thing, but it’s not the same amount you used to get when you were still working. It’s the reason for saving money to continue living your lifestyle.

They spent energy and money helping others

There’s nothing wrong with trying to help others, especially the people you love. However, it’s a different story when you can’t afford to help yourself. Your first obligation is to yourself. If you have bills to pay, prioritize them. Then, you can help others out when you have something else to offer. Don’t worry too much about your family members. Besides, helping them financially will only make them more dependent on you. Imagine if you can’t support them anymore. It might even strain your relationship with them.

Be wise in planning for retirement. Research about your life ahead and how it will look like. Think about the activities you wish to do and how much you will spend if you’re doing them. If you have to start investing now, it’s never too late. It’s better than not having anything for the rainy days. Once you’re financially ready, you will feel excited about your retirement years.

How to Set Up a Productive Home Office Environment

If you are one of those people who have decided that working from home works for you, you are not alone. Many people have started running their businesses or carrying on with their current jobs from the comfort of home. And while it may be a significant change from the regular working environment, it offers excellent benefits such as substantial savings from the daily commute and dine-outs. For parents, spending more time with their children is a big plus. It is also much easier to manage household affairs that are often left unattended from lack of time.

Just the same, having a productive home office environment takes some work. Certain things have to be done to ensure that you can perform your best and accomplish your daily tasks. Here are a few tips to help you set up a productive home office environment.

Keep distractions away

Many things at home can distract you from focusing on your work. Your phone, TV, and other gadgets that are not work-related are some of them. When setting up your home office, ensure that what you have there is what you need for work. At the same time, have family members know that you are not disturbed during working hours. The schedule you create will give you enough time to spend quality time with them and respond to their needs.

Ensure that you have your office equipment and supplies

Apart from your office desk and chair, prepare everything you need for work. This would include your laptop or desktop computer, printer, scanner, fax machine, and business phone. In addition, you can find cheap stationery and office supplies that you will be using when you work. It would also be good to have a coffee maker on hand if you need your coffee at certain hours of the day. This will keep you from having to step out of your office when you want your coffee and help you from being distracted.

Go with ergonomic furniture

Because you will be spending several hours a day in your home office, you also need to consider your comfort while you work. Being seated for a long time can be stressful for your body if your office chair is not suitable for work. It would be best to get an ergonomic chair to protect yourself from back and neck pains that often occur if your office chair is not comfortable enough. In addition, you will be more productive if you invest in ergonomic furniture that keeps your body relaxed while you work.

On a final note, your home office can use a few personal touches to create a positive atmosphere. For example, a few family photographs or a favourite art piece can brighten up the place and bring in positive vibes. It would also be good to add some greenery that will not only enhance the appearance of your home office but also help purify the air inside. Finally, allow natural light to enter as this is the best lighting that sets the right mood to work. Setting up your home office for productivity is the best way to ensure that you get your work done and accomplish the goals you set for yourself from the comfort of home.

Things to Know Before Contesting a Will

Anyone who has been left with more questions than answers after reading a loved one’s will has, whether moments, hours, days or weeks afterwards, wondered whether they are in a position to contest its contents.

There are a fair few reasons why someone could contest a will, and none of them lead to simple or straightforward outcomes. Nevertheless, perhaps the hardest outcome is spending the rest of your life feeling as though something important has been missed, glossed over, or intentionally cast aside by another party.

So, if you’re seriously considering contesting a loved one’s will, here are a few things you need to be aware of before getting started.

There can be a Limited Window of Opportunity 

While the exact time limit on contesting a will is not consistent across the board, some cases are limited to six months after the grant of probate. This means that, for anyone wondering whether or not they have grounds for speaking out, contacting experienced contesting a will solicitors sooner rather than later is imperative.

Sometimes, an extension will be granted by the courts – but you must not rely on this being the case, and defer your opportunity under the belief that it will be permitted.

It Can be Expensive

Litigation is expensive, which means that the process of contesting a will can be expensive too. This is not a process you should handle without expert legal help, or without your eyes wide open to the high costs litigation can incur.

This is particularly important to note, as…

The Process Can be Long and Drawn Out

Will disputes can take years to resolve, meaning that committing to the process can also represent a major financial commitment – and a huge tie on your personal life. It’s a lot to think about, and a heavy weight to have sitting on your shoulders, especially when you consider the fact that…

It Can Cause Major Rifts

This is an incredibly delicate area of concern for any family. It is very easy for any beneficiaries who inherited from the testator to feel as though you are taking legal action against them – and, in some cases, you are.

In other words, it’s all too easy for these situations to turn against a person – and for the rifts they cause between otherwise strong relationships to last for years, if not forever.

This is vital for you to consider and reconcile yourself with before moving forward.

It Will Test You

This process is likely to be emotionally draining and stressful. The financial burden, the task of coping with familial disputes, grief, and stress of undertaking such a long and complex process – even when you have expert legal help on your side – can easily feel like too much, and stir up some complex emotions toward your family, and the testator.

That said, righting a wrong and ensuring that the true wishes of your loved one are met is incredibly important. The trials and tribulations caused by contesting a will cannot be overstated but, at the same time, neither can the pain of living with an unanswered question for many, many years to come.