Times of transition are now the norm.
w
hether
you are a recent law school graduate, a pink slip
casualty, ready to reenter the workforce or an about-
to-be-retired lawyer, this is an article you have to read.
i
t is more important than ever to master the practical
skills of money management and get a firm handle on
your finances. Here is some advice to get you on the right
path . . . fast!
Both my lawyer and CDFA advised me to take a lump sum divorce settlement that came from the sale of a rental home my ex-husband and I had in lieu of alimony. I have not invested my money and am not sure what is best (at my age of 56). My CDFA thinks I should put a third into annuities, but my estate planner says those fees are much too high. I want to make it last and make sure I’m making wise investments. — Karen
Read MoreAs engaged couples get caught up in the excitement of upcoming wedding bells, financial topics may not rank as high on the to-do list as planning the reception, ceremony and honeymoon. But it should. Having some dialogue about budgets, savings strategies and insurance policies before walking down the aisle will help to promote the “happily ever after” couples are hoping for.
Read MoreJanuary is “divorce month.” Yes, that’s right. There is roughly a one-third increase in divorce filings in January. The reason for this large uptick in uncouplings might just be because spouses try to keep the marriage together through the holiday season, then move forward with their long-planned divorce once the kids are back to school and the New Year’s resolutions are set.
Read MoreStacy answered, “Although it’s certainly tempting to reach into your 401(k) as your unemployment insurance comes to an end, resist the urge to withdraw.”
I’m a 33-year-old woman who’s been unemployed for the past six months. So far I’ve been doing okay living on unemployment, but the money I put into my 401(k) is just sitting there. I’m not sure how much longer I will be unemployed, and in another few months, my unemployment insurance will be done.
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