Angela Ruth

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You don’t want to leave planning your legacy until the last minute. It can be difficult to put a value on a lifetime of accumulation — your money, your home, its furnishings, souvenirs from vacations, treasured gifts from your family. It’s a joy to collect these items over the years, but too few consider what will happen to it all when they’re no longer around.  From your life savings, to your digital assets, to what will happen to any beloved pets — all these things must be considered when estate planning. And while a qualified professional can help guide you through the process, there are still some mistakes people commonly make along the way. As leaders in the financial space, the members of Kiplinger Advisor Collective have seen numerous mistakes made by well-intentioned people who maybe just didn’t have the right information at their disposal. So here, they discuss those common mistakes and the advice they would give instead to ensure the estate planning process is a smooth one for all involved.

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There’s more to this decision than simply when you want to retire. An important player in your overall retirement plan, Social Security can help fund your living expenses when you’re no longer able to work or are working reduced hours. However, as the payments you receive while drawing from Social Security only replace a partial percentage of the income you received while working, Social Security benefits should be considered supplemental rather than your only source of income. And while you can apply for your benefits at any time between the ages of 62 and 70, there may be reasons why you would want to delay receiving your benefits until a later date. So when should you plan to start collecting these benefits? While the answer can vary based on each individual person’s situation, the financial experts of Kiplinger Advisor Collective recommend considering these factors first before determining your goal age to begin collecting Social Security.

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Maximize your efforts by following these expert-recommended tips. The holidays are, naturally, a time of giving — a time when people look to show gratitude for and to others by giving gifts or donating their money or time. It’s often when individuals look to donate funds to their favorite charities or special causes that are important to them. But is it as simple as writing a check?  Unfortunately, it may not always be that easy, as scammers can be especially active during this season, looking to take advantage of those with the best intentions. Further, there may be certain tax benefits or strategies you may not have considered that can maximize your giving efforts. Below, eight financial leaders from Kiplinger Advisor Collective share their insights on charitable giving during the holiday season as well as the best tips you should know to ensure you’re doing it the right way.

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Before you settle on where to obtain your funding, here are a few tips to keep in mind.

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Holding on to these beliefs could be holding you back from realizing your dreams. With high interest rates and even higher housing prices scaring many people away from the  thought of purchasing a home any time soon, strong narratives and beliefs around home buying in general continue to swirl around the cultural conversation. While some believe they’ll never be able to afford a home, others believe it’s the ultimate end goal and indicator of true financial success.  Though every person’s situation is unique, there are some common misconceptions people have about home buying that may be holding them back from realizing their true financial potential. Here, the financial and investment experts of Kiplinger Advisor Collective discuss seven of those misconceptions as well as the real truths behind these common beliefs.

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Taking a few key steps can help you both better understand and utilize your employee benefits. Employee benefits can be a big draw for job seekers looking for companies that will care for their employees well beyond their paychecks. Whether it’s a good employer match on your 401(k) contributions, employer-covered healthcare or unlimited paid time off, different employees find value in different benefits, but a well-rounded benefits package — often paired with a competitive salary — can help companies attract the best talent in their respective fields. But despite the initial draw of quality benefits, many of these benefits go unused or are improperly utilized. In fact, according to the Bureau of Labor and Statistics, an employee’s benefits make up nearly a third of their total compensation — meaning employees could be missing out on a significant portion of their total pay.  To ensure you’re taking full advantage of your employee benefits, it’s important to first ensure you have a clear grasp on what they entail. Below, the financial experts of Kiplinger Advisor Collective suggest practical steps anyone can take to not only understand their benefits package but also make the most of what their company offers.

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Financial risks can be mitigated by good internal controls and procedures.

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Deciding how to invest in real estate can sometimes seem complex and overwhelming, especially when you don’t know what’s hot and what’s not. So we at Kiplinger.com asked some of the financial experts among our Building Wealth contributors and Kiplinger Advisor Collective members to answer, in a few sentences, this question: What is one current trend in real estate investing, and how can investors take advantage of it? Their responses range from checking out online real estate investing platforms, to exploring tax-advantaged qualified opportunity zones, to keeping an eye on the debt issues of commercial real estate. Or maybe you might be interested in owning some rental property that you can also use as a vacation home. Wherever your real estate interests may lie, there’s bound to be a tip here that could snag your interest.

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Making just a few sustainable and energy-efficient changes can pay off literally and for the good of the planet.

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It’s not uncommon during periods of high market volatility to feel worried about the future and to consider making rash financial moves in order to safeguard your savings and investments. This can be especially true when it comes to your retirement savings, as this is the money you’ve set aside for living expenses once you’ve reached retirement age and are no longer working. The move you make here, however, could be the difference between a secure retirement and a major loss of financial safety.  Before you take any action, consider the following advice from the financial experts of Kiplinger Advisor Collective. Here, they discuss their top strategies for managing your retirement savings during a volatile market and ensuring you plan accordingly for your future.

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These two tips can help you optimize human processes to improve your company’s financial success and stability. 

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While graduating from school is a major milestone in your life, it's not the last big step you'll take in the months ahead. Preparing yourself for your future can take any number of pathways depending on your specific goals. But whether you'll be buying a new car, saving up for a home or delving into the stock market, there are a few key financial steps you can take that will help you achieve success. As noted leaders in the financial space, the members of Kiplinger Advisor Collective recommend taking one or more of the following actions with any money you may have received as a graduation gift. Doing so will help you start adulthood—and your financial future—off on the right foot.