Question

unless you develop plans and take steps during your lifetime to accumulate, preserve and distribute your wealth upon your death, chances are that your heirs and beneficiaries will receive only a part of your estate. It would be a shame if your lack of action reduced what your dependents are due.It would also be a burden to your loved ones if you died early and they had unexpected expenses and responsibilities.

What do you believe your responsibilities should be now to meet your goals.? Post your comments specific.

Answer 1

To meet my goal in future following would be my responsibilities:

1: I need to accumulate a certain amount in my retirement account to fulfill the needs of my retirement. For this I need to estimate my expected life and the amount of expenses inflated by a certain percentage during my entire life.

2: I also need to accumulate a certain amount to fulfill the needs of my dependents. This involves estimating the education and monthly expenses of the dependants.

3: for the purpose of meeting these goals I need to identify the right account which gives a high amount of effective interest and estimate the monthly or annual payments that should be made into this account. This will ensure that I accumulate the required amount for my personal needs and the needs of my dependents.