A majority of Americans may feel confident in numerous aspects of their life, but a recent Northwestern Mutual study shows that only a little more than half feel confident about the current state of their finances. If you’re not feeling confident about your own planning future, you can take an important step forward by looking at your financial situation and starting your own estate plan.
While it can be uncomfortable to address these planning concerns, it’s also important to do so. You may feel more confident when you’ve taken some steps to minimize your own risks in later years and also established plans like life insurance to support loved ones if something happens to you.
Your finances not only direct your day-to-day financial decisions and living situation but can influence your confidence and comfort level for things like retirement and what you’ll pass on through your estate. Many people are feeling less confident due to the uncertainty of the economy and the rising cost of living.
Although finances are just one component of your future, they can have a significant impact on your overall well-being. By getting a handle on your finances and revisiting your plans to account for this possible uncertainty, you can feel a greater sense of confidence and determine the steps you need to take, such as opening a retirement account, increasing your retirement account contributions, buying a life insurance policy or establishing a comprehensive estate plan in California.
Working with professionals to help guide you through each of these steps can make a complex and sometimes confusing process easier to understand and to apply to your individual life. Don’t hesitate to contact a professional estate planning lawyer to discuss how to bring all of these various aspects together for your future estate plan.