The Kids Are Out Of The House, What Do I Need To Do?
What To Consider
Pay Off Your Mortgage
Since you are at your peak earning years, you should use the extra income to fast-track your mortgage payments.
Reduce Debts
Take a review of all your debts, bills, and other financial obligations to see how much you owe. If you have loans, start by paying off all the high-interest loans.
Saving For Retirement
If you are employed, make sure you participate in your employer’s retirement plan. Most employers will match your contribution or add a percentage of your salary to your retirement account.
Stay On Budget
With new perks, you may be tempted to upgrade your lifestyle. However, it is important to ensure that you are not spending more than you are making.
Tax Minimization Strategies
Take a comprehensive review of your income, including salary, earnings from investments, and any other asset or business venture that attracts taxes.
Buy An Insurance
Policy
Take care of contingencies such as disability, debilitating illness, or premature death by having insurance coverage.
Write A Will
Prepare a will outlining how your estate will be distributed after you die. The will should name guardians for any minor children and elect an executor to settle any debts or taxes owed by your estate.
Consider A Power Of Attorney
The power of attorney states who will make decisions on your behalf in case you are incapacitated by disease or old age.
Working with you at various stages of life
What Our Clients Are Saying
H. Singh
The team at Accureta Wealth made a tailored plan for our family, guiding us each step of the way, setting goals, defining milestones, picking investments and educating us on each step along the way. Naveen is very approachable and has been always ready to answer my questions.
R. Kucukates
