BOSTON (CBS) – Thought we would cover more dumb moves this week!
We all do some really dumb things when it comes to our money. And sometimes it is not what we do; it is what we don’t do. Often we are not even aware of the consequences of our lack of action.
A recent survey* found that 50% of Americans with children do not have a will and almost three-quarters of adults under the age of 34 do not have one. Even more alarming, over 40% of baby boomers don’t have one. The three reasons cited by survey respondents for not having a will: procrastination, a belief that they don’t need one, and cost.
Almost everyone needs a will and estate planning is not expensive. If you have some assets you have accumulated, such as your home or retirement accounts or if you have kids, you have things you need to protect.
Estate planning allows you to plan for the day when you are not around to care for the loved ones in your life or plan on how your assets are to be distributed upon your death. Sounds easy, but no one wants to talk about their own mortality or morbidity.
If you ………..
Source: Not Planning On Dying Is Dumb