The Woodward Financial Advisors Blog

As Halloween approaches, it’s not just ghosts, goblins, and things that go bump in the night that can give us a scare. For many, the real fright comes from the financial worries, including whether they’re saving enough, how market swings might impact their future, or what unexpected costs could creep in. However, there is good news! With the right planning, these financial “ghosts” don’t have to haunt you. Let’s shine a light on a few common fears and how to keep them from lurking in the shadows of your financial plan ...

In estate planning, our financial assets and material possessions often take center stage. While these assets and the impact they can have on the lives of our heirs are important, they fail to fully capture the wealth accumulated throughout our lives ...

So, how do you go about coaching this team of guardians, agents, executors, trustees, and beneficiaries; and what should you expect from them in return? We’ve highlighted the best practices we encourage all of our clients, friends, and family to follow below:

Haunted houses are not the only thing that can be downright terrifying, give you a shock, and make it hard for you to sleep at night. A poorly made or forgotten-about estate plan can leave your loved ones vulnerable to hauntings of the financial kind.

I wasn’t thinking about the emotional aspects (which I’d selfishly like to assume would be devastating) or even the long-term financial stuff (we’ve taken care of our life insurance needs and periodically update our estate plan). Instead, I was thinking about the day-to-day practical things, like the physical act of paying our bills and our mortgage.

While both men and women should have a plan in place for aging, the statistics particularly demand a female’s attention. According to the American Association for Long Term Care Insurance, more than 70% of nursing home residents are women. Add to that the 4.7 million women who used an in-home nurse aid just last year.