How Your Finances Are Divided In a Gray Divorce

Plus, personal finance podcasts that will improve your financial literacy. Created for {EMAIL} | [Web Version]( June 6, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] INTRODUCTION [] [Stepping Into Being a Guarantor]( On average, parents are giving their kids about $1,384 per month, or nearly $17,000 per year, according to [a study]( by Savings.com. It may not come as a surprise if you are asked to be a guarantor on your child’s lease. Kiplinger contributor Daniel Bortz shares [a few things to consider if you are approached to be a guarantor]( and three alternatives if you don’t think singing on the dotted line is the best course of action. - Donna LeValley, personal finance writer [Prepare For Retirement Using a Dividend Growth Investment Strategy]( If you invested in an S&P 500 index fund starting in January 2000 until September 2020 your average annualized return would have been 4.2%, a cumulative return of 136%. But if you reinvested all dividend payments your annualized return would have been 6.2%, a cumulative return of 247%. Just reinvesting dividends would have nearly doubled your gains. [READ MORE]( ADVERTISEMENT [] WILLS AND ESTATE PLANNING [] [Expert Advice About the Seven Things You Should Leave Out of Your Will]( [Expert Advice About the Seven Things You Should Leave Out of Your Will]( (Getty Images) Wills benefit everyone; you don't need a large or complex estate to need a plan. And it may come as a surprise that there are bequests that are better left out of your will. There are different ways to convey property or money depending on the circumstances. Here is a list of [seven things you should leave out of your will]( and advice on legally transferring those assets. [] DIVISION OF ASSETS [] [How Finances Are Split In a Gray Divorce]( [How Finances Are Split In a Gray Divorce]( (Getty Images) Accumulated assets, children and retirements on the horizon add to the complexity of late-in-life divorces. Properly dividing retirement accounts is of particular importance. If the division is handled incorrectly, you could wind up with a taxable distribution and a hefty tax bill. Keep reading to [learn which assets and expenses to pay attention to in a gray divorce]( and ensure you have funds for your retirement. [Help Maximize your Social Security Benefits]( A comprehensive retirement plan should account for all of your sources of income (including Social Security) and all of your retirement expenses. Our advisors can help you make sure you don't miss anything. [LEARN MORE]( ADVERTISEMENT [] INFORMATIVE RESOURCES [] [9 Personal Finance Podcasts Worth Checking Out]( [9 Personal Finance Podcasts Worth Checking Out]( (Getty Images) The reach of podcasts continues to grow and so does the variety and quality of information available through this medium. I spend more time driving in the summer and pass the time listening to audiobooks and podcasts. Founder of Choice Mutual Anthony Martin shared a round-up of [nine podcasts recommended by financial professionals]( with topics ranging from budgeting to financial wellness in retirement. [7 Secrets About Hiring a Financial Advisor]( Working with a financial advisor can be a crucial part of any healthy retirement plan. But choosing the wrong one could wreak havoc. Check out these 7 secrets comfortable retirees know about hiring an advisor, so you can work to potentially save years of stress. 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