Whether you’re planning for a traditional retirement or simply want more freedom to choose when and how you work, we all must plan for rising healthcare costs as we age. According to Fidelity’s 2020 Health Care Cost Estimate, a 65-year-old couple can expect to pay about $295,000 on healthcare alone in retirement. Depending on your health and how long you live, your actual costs may be even higher.

As 2021 draws to a close, tax planning may be the last thing on your mind. Still, now may be your last chance to take advantage of certain opportunities to reduce this year’s tax bill. Indeed, President Biden’s proposed tax plan is still under consideration. But high earners and high-net-worth individuals are likely to be impacted—possibly as soon as next year.

As your net worth increases, you may want to provide your loved ones with ongoing financial support. For some families, a living trust can be an efficient way to achieve this objective. In this article, we’re sharing the primary benefits of a living trust, particularly when it comes to streamlining your estate plan. 

We are pleased to announce that Diane Gonzales has joined Cooksen Wealth! Diane will serve as Director of Client Service and will be responsible for client communication and day-to-day office workflow. 

Diane is a well-established veteran of the wealth management industry, bringing over 30 years of financial experience to the team. She has spent over 20 years serving high net worth clients, most recently as a Private Wealth Advisor at Morgan Stanley where she worked alongside Lindsey for six years. Diane holds the Certified Financial Planner designation, and we’re excited to see her apply her experience and passion for helping others here at Cooksen Wealth.

It’s the start of a new year, and that means many of us are thinking about setting goals for the year ahead. Of course, it’s natural to focus on traditional resolutions, like breaking bad habits, starting a fitness routine, or finding a new job. Yet it’s also important to set financial goals, as money can help facilitate a full life.

The last few months of the year provide an opportunity to review your financial progress and set goals for the year ahead. Unfortunately, only 30% of Americans have a long-term financial plan, according to Gallup. If you’re one of the many Americans who don’t have a formal strategy for managing your money, here are three reasons you need a financial plan.