The system just isn’t set up for households that consist of just one person. That means planning is even more important of you. The amount of singles has importantly increased in the last few years. Reasons are divorce and people are marrying later or aren’t marrying at all. Just as married couples, the older a single gets, the more assets he or she accumulates. And because they can’t rely on another for financial help in crisis, it’s even more important for them to put a plan in place.
Stash more cash:
Step one is to put a six to twelfth-month emergency cushion in place.
Get the right insurance:
↳ disability policy? Absolutely. Long-term-care Insurance? Maybe. Life insurance? That depends.
Singles have to protect their earning ability. They can do that with disability insurance.
Put the right documents, and people, in place:
As soon as you’ve accumulated assets that you want to end up in a particular place, get a will and a living trust. And even more important, you have to give someone power of attorney to make medical or financial decisions on your behalf.
Don’t forget the tax man.
I think it’s important for such an article to exist, nowadays they are a lot of single people and that number will increase even more. If you’re single you have to protect yourself a lot better against dangers and risks. Because you can’t rely on someone else. So I think it’s an interesting article, because it tells you what you have to consider if you’re single and you don’t want to face surprises.
Laura
3 opmerkingen:
"the singles" it's indeed typical for our century. However I think that this plan also can be used by couples. Don't you think?
woepsie, it's from Els
I think it is always good to have plan, because you never know what could happen. And when you are single, you cannot relay on anyone but yourself.
Kathleen
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