Personal Finance Buzz

If you are interested in frugal living, it is important to realize that a financial plan, as well as other planning, is necessary. Frugality doesn’t just happen.

First, a Living Trust is a trust you set up to hold your property and to govern the use and distribution of your property during your lifetime, during any period when you are incapacitated, and even after your death (when it acts much like a Last Will and Testament). You can amend or revoke a Living Trust at any time during your life making it a very flexible planning tool. Due to their broad scope and flexibility, Living Trusts are often viewed as one of the most comprehensive estate planning documents.

But do you really need a Living Trust? If you answer YES to any of these questions, you may want to consider one.

Here’s a few important financial tax planning tips (and an important warning) if you’re an investor…especially if you own ETF’s or mutual funds. First, you probably already know about tax loss harvesting. It’s a must if you want to understand taxes. This is a well-known year end financial tax planning tip.

“I can’t believe that I didn’t get a cost of living increase this year.” “Retirement is going to be so expensive because of the rapid increase in the cost of living.” “I remember a day when gas used to cost less than a dollar a gallon. The price of some products is exorbitant.” Have you ever heard one of these phrases or something similar?