Baby Boomers and Generational Wealth | The Different Types of Annuities | If You’re a Millionaire, You May Be a Terrible Spender

Estate Planning Strategies to Consider as Election Nears | Talkin' 'Bout My Generational Wealth: Baby Boomers | Who Will Be the Beneficiaries of Your Wealth? Created for {EMAIL} | [Web Version]( July 28, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Building Wealth]( [Youtube]( [Building Wealth]( [SIGN UP]( ⋅ [WEBSITE]( [] Taxes [] [Estate Planning Strategies to Consider as Election Nears]( [Estate Planning Strategies to Consider as Election Nears]( (Getty Images) Are big changes in tax laws coming soon? Not likely, but you might want to take advantage of [higher estate and gift tax exemptions]( well before the end of 2025, according to estate planning attorney David Handler and financial professional Howard Sharfman. [] Family Matters [] [Talkin' 'Bout My Generational Wealth: Baby Boomers]( [Talkin' 'Bout My Generational Wealth: Baby Boomers]( (Getty Images) With retirement, each generation has different priorities and challenges. Financial professional Alvina Lo points out that for Baby Boomers, it's a matter of [ready or not, here it comes](. [Do You Need a Retirement Spending Plan?]( Spending your hard earned retirement money can be complicated—and it's important to make the right decisions that will help your savings last. Vanguard Personal Advisor is built to provide you an ongoing collaboration with our professional advisors — no matter where you are in your journey. [LEARN MORE]( ADVERTISEMENT [] Estate Planning [] [Who Will Be the Beneficiaries of Your Wealth?]( [Who Will Be the Beneficiaries of Your Wealth?]( (Getty Images) Deciding who you want to inherit your wealth, as well as when and how, is a crucial first step in estate planning. Here are the [four beneficiaries to keep in mind](, courtesy of financial professional Adam Frank. [] Annuities [] [These Are the Different Types of Annuities]( Many investors aren't sure if annuities are a good option for meeting financial goals. Financial professional Kris Maksimovich looks at the different categories, along with their pros and cons. [Read More]( [Your IRA, made to order]( Choose where and when you want to retire, and a Betterment IRA can help make your money hustle all the way there. [Learn More]( ADVERTISEMENT [] Retirement Management [] [If You're a Millionaire, You May Be a Terrible Spender]( Good job on all that great saving. Now you need to start spending some of that hard-earned retirement savings on the things you love. Financial planner Joe F. Schmitz Jr. offers some suggestions. [Read More]( [Do You Know The Tax Benefits of An Irrevocable Trust?]( This safeguard can be particularly important for attorneys, doctors, and other professionals at high risk of lawsuits. It may remove your taxable estate assets and shield your assets. 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