If you’re like most Americans, you’ve probably been dreaming about retirement for most of your adult life. You may even have a clear vision of what your retirement will be like. Perhaps you see yourself travelling the world or pursuing one of your favorite hobbies. Maybe you’ll spend time with family or simply relax and enjoy your freedom.
It’s always helpful to visualize your retirement and plan how you will spend your time. You can use those visualizations to guide your planning and even to make financial decisions.
Are you one of the 64 percent of Americans who don’t have a will? That’s according to a 2015 study from Rocket Lawyer. There are many reasons why people choose to not have a will, the most basic element in any estate plan. Some may feel they’re too busy or they may not want to think about their own death. You could be like the 27 percent of respondents who said there’s no urgent need for a will or the 15 percent who said they don’t need one at all.1
If you’re under the assumption that you don’t need estate planning, you may want to think again. Estate planning is important for anyone who wants to leave a legacy for their loved ones or to a favorite charity.