In these turbulent economic times, many people have moved away from the stock market and toward real estate to invest their money for the future. According to a report in the Austin American-Statesman, this may not be as safe as some people think. The perception by many is that tangible assets are safer than stocks, and a house can be rented out for income. There is an economic term for a situation where a lot of things can go wrong: idiosyncratic risk. Real estate presents a lot of idiosyncratic risk. Home values can go up and down significantly, repairs may be needed unpredictably, rental properties may go unrented for long periods, or tenants may be a problem. That said, for some people, this may be a great options for planning for the family’s financial future.
Are your looking for the best way to plan for your financial future? Contact a Dripping Springs estate planning attorney today to discuss your options.
Planning for your retirement and planning for the possibility of your family having to go on without you should you die unexpectedly is not fun, but it is important. While you can’t dwell on all of the things that can go wrong, it is a good idea to have a contingency plan so that if, for any reason, your family does have to go on without you, they will be prepared financially. As much as you don’t like to ponder the idea of your family being without you, you certainly don’t want them to struggle to make ends meet if it actually happens.
Contact Dripping Springs estate planning attorney R. Brian Daniel today to discuss your options if you have had a change in your circumstances, or if you simply need to make a financial plan. New jobs, big promotions, layoffs, marriage, divorce, and new children all have a major impact on what planning is necessary for the future. Knowing how best to prepare is complicated, and everyone can use some help from someone with experience. Brian has years of experience with the legal side of financial planning, and can help understand investment options, and also help with estate planning, wills and trusts. For more information and a FREE CONSULTATION, contact Dripping Springs estate planning attorney Brian Daniel today at (512)615-3569.