Mother’s Day is fast approaching and what do you plan to do for your wife or mother? Can I suggest something unconventional? Put a plan in place to help fund your retirement, educate your kids and take care of your family in the event of your premature death.

“Failure to plan is planning to fail,” as coined by Benjamin Franklin, is a phrase that we all need to take to heart.

Time passes quickly, and unfortunately, too many people are not taking the steps they should to provide for their future. It is never too late to plan and is certainly better the longer lead time you have. You can even help your parents plan too, especially to protect your mother, in the event of your father’s death (assuming he was the breadwinner, as is the case among most in that generation). There are a few basic steps that we will review below. continue reading »