You recently turned 50 or maybe you turned 60. Its finally time to splurge!
Or is it?
Sure, a vacation home would be nice. Maybe a luxury car. Or a trip around the world.
But before you splurge, ask yourself these questions, says an article on AARP.org.
- Can you really afford it? If you are really in good shape financially and have made an estate plan, then go ahead.
- Is the purchase in line with your values? A vacation splurge, especially if taken with friends and family, is often a good idea.
- Are you trying to impress someone? Don’t do it if you are just trying to keep up with the Joneses.
- Is this being done out of boredom? If so, maybe you should rethink it. Such splurges can be toxic. Especially fancy cars or other expensive material goods.
If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.
