Personal Finance in Estate Planning

The way you handle your personal finances is central to development of your overall estate plan. There is great opportunity in this area because you can control your expenditures to some extent at least. And, if you save money, and invest it wisely, that money can grow into a nice sized estate.

Finance at estate planning


Most likely we will only achieve financial security if we incorporate our estate plan into our every day financial decisions. The financial choices we make each day, over time, have a dramatic impact on our estate plan and our ability to achieve financial security for ourselves and our families.

Every time we spend money, we make a choice and the cumulative effect of all those choices are significant over time. This is particularly true when you factor in the miracle of compound interest which, over time, enables your investments to grow and grow on their own.

For most people, financial security has more to do with what we save than what we earn.

Certainly earning a higher salary will increase your opportunity to save money. However, a higher salary will also likely increase your incentives to spend. You can read about this financial dilemma at Effective Estate planning.

Efficient personal finance habits will enable you to save money and accumulate (purchase) productive assets. Owning productive assets (or capital), is the big key to accumulating a significant estate and achieving financial security. Income alone won’t do it. You can read more about why owning capital is the key to your estate plan (and retirement) at Estate Planning 101.

People at every income level struggle to save money and accumulate capital. You'll see what I mean if you read:

The truth is that you can achieve or fail to achieve financial security no matter how little or how much you make. It all depends on how much you can save and how you invest those savings. This is the personal finance aspect of estate planning.

Anyone going through a divorce has to make some tough decisions regarding finances. We don't really address divorce issues on this site. However, you can learn more about that at Financial Guidelines in Divorce.

You can get lots of financial planning tips at Personal Finance Pro. Or, go from Personal Finance in Estate Planning to Selecting a Financial Planner.

New! Comments

Leave a comment about this article in the box below and share it with your Facebook friends.

What's On Your Mind?

We'd love to hear your comments or opinions. Submit them here and other visitors can read them and comment on them. An e-mail address is not required.

Gift Tax | Estate Tax |

From Personal Finance State Planning to Selecting a Financial Planner | Estate Planning Blog | Basics of Estate Planning | Estate Planning and Taxes | Is This Good Time to Buy a House? | Incorporate My Business | Best Low Cost Investment | Fringe Benefit Plans | Estate Planning and Charitable Giving | Health Insurance Comparisons | Best Medicare Supplement Plan | Medicaid Questions | Retirement and Estate Planning | What is a Power of Attorney? | Current Estate Planning News | Estate Planning Forum | Living will in estate planning | Estate Planning Blogs | Estate Planning Books | Choosing an Estate Planning Attorney | Find a Probate Attorney | Estate Planning Questions |

Home Page

About Us | Contact Us | Site Search | Terms of Use

Subscribe to
Estate Planning Hub

Your First Name

Your E-mail Address

We keep this private.

Follow the Estate Planning Blog.

--by Beth Heikkinen
Marquette, Michigan
I just want to thank you for this site. It answered my questions. I think many people that do research on the net take it for granted and when they find what they are looking for they forget "someone put time, money, etc into providing me with this information."

Thank you!

Like This Site

Visit Our Social Media Pages

Become a Fan of Estate Planning Hub on Facebook Follow EstatePlanningHub on Twitter Follow EstatePlanningHub on Google+ Subscribe EstatePlanningHub Video on YouTube

Get a PDF version of this website and its sister site here.