CNBC: “5 advisors offer important tips for managing your money in 2025”

Dec. 31, 2024 — “Personal finances are top of mind for many households as they get set to ring in the new year,” writes Greg Iacurci in today’s issue of CNBC. “About 38% of Americans ranked financial stability as their No. 1 focus area for 2025, according to a recent Allianz Life survey.”
Here’s what he learned from Marguerita Cheng, CFP® Pro:I’m going to say estate planning. It’s important for everyone to address — even for an 18-year-old heading off to college in Fall 2025. I had my daughter complete a health care and financial power of attorney before I sent her off to college. If people feel overwhelmed with the estate planning process, I remind people that it’s a process. Start with a financial and health care power of attorney. You can then focus on beneficiary designations. Next, a will and trust, if the trust is appropriate for your situation. This process also helps individuals track down retirement plans from former employers. Estate planning is a wonderful opportunity to revisit life insurance as well.