​Do you have grandchildren in their late teens or 20s? Their generation, known as millennials, grew up with access to the internet, cellphones and other technology that previous generations could never have imagined.
 
Millennials sometimes get a bad rap as being entitled and self-focused. However, their relationship with technology has given them a unique worldview. They recognize how to use technology to their advantage, and they may see opportunities that older generations don’t recognize.

​Are you thinking about the kind of legacy you will leave for your loved ones after you pass away? Perhaps you want to fund your grandchildren’s education or help your grown children get started on their retirement nest egg. Maybe you have assets that hold sentimental value that you would like to distribute to specific relatives.
 
An estate plan can help you achieve these goals. Your estate plan should prioritize your objectives and offer a strategy. It should also identify risks and challenges, such as taxes, end-of-life costs and even probate expenses.

​Imagine the following scenario. You’re closing in on retirement. It’s less than 10 years away. As you get older, though, you start to experience more health issues. Maybe that nagging back pain you’ve had for years becomes more serious and limits your mobility. Perhaps your chronic high blood pressure develops into heart issues, and as a result, you have to cut down on stress and work. Maybe you’re involved in an accident that prevents you from working.
 
Think it can’t happen to you? Think again. According to the Council for Disability Awareness, 1 in 4 adults will suffer a disability at some point in life. The group reports that the average disability claim lasts nearly 32 months.1

​There is one important retirement risk that often goes unnoticed by retirees. It’s inflation, which is the incremental increase in the price of goods and services on a year-to-year basis. Inflation is easy to ignore because it’s often modest on a year-to-year basis.
 
Over time, though, inflation can have a sizable impact on your spending power and your ability to cover your cost of living. For example, an average annual inflation rate of only 3 percent per year could double prices if it’s compounded over a 24-year period.
 
Inflation is caused by many factors, including interest rates, economic growth and much more. It often impacts everything from groceries to energy to health care and nearly every other type of product or service you might purchase.

​While retirement should be a celebratory event, it can also bring some difficult challenges. Those challenges can spur difficult conversations, especially between spouses. Perhaps one of the most complex issues a couple can face in retirement is the prospect of declining health, long-term care needs and even death.

​Is retirement approaching soon? If so, you likely have a number of big decisions ahead of you. You may be thinking about how best to allocate your investments, how you will cover health care costs and possibly even what you will do with all your newfound free time.
 
One of your biggest decisions may be when to start taking Social Security benefits. You’ve likely paid into the system for decades, so you might be ready to start taking advantage of your distributions. In fact, many retirees file for Social Security as soon as they’re eligible.