Talking about finances and money with your parents can be uncomfortable. For years, they were likely the ones teaching you how to understand, save, and spend your money. It can feel awkward or strange to understand that those roles are reversing. But money conversations with your aging parents are as critical as addressing their changing healthcare needs, and they shouldn’t be avoided no matter how difficult it may seem to approach the subject. Each person or couple will inevitably have a different financial situation. It’s essential to be receptive and sensitive to the unique financial cha ..read more

Legacy and estate planning can give you peace of mind, knowing that your wishes, finances, and assets are accounted for and allocated exactly as you intended them to be. Meanwhile, as the foundation of your overall legacy, your inheritance plan is a critical consideration that can significantly impact your loved ones and future generations.  Ready to begin crafting the legacy that fits you? Here’s what you need to know to get started with your inheritance plan. Clarify Your Legacy Goals Start by defining your vision through the lens of your values, principles, and legacy objectives. Yo ..read more

For many parents, balancing the funding of higher education for their children while also securing a comfortable retirement for themselves can feel like a daunting task. Luckily, with careful financial planning you can create a strategy that works for everyone—allowing you to support your children in the face of rising college costs, without compromising your retirement goals. The Rising Cost of College Education College tuitions are steadily increasing, with no current indication of slowing down. The requirements can place a significant financial burden on families. From 2000 to 2021, the av ..read more

According to a report published by the World Health Organization (WHO), infertility rates across the world are on a rise with roughly 1 in 6 people experiencing infertility. My husband and I are part of this statistic. When we first married, my husband was ready to start a family right away. I was hesitant. I wanted to build my career, travel, have freedom, and I cherished sleeping in on the weekends (which may be what I miss most). It took a few years, but when I finally embraced starting a family — it wasn’t working.  After the obligatory year of trying (and many well-meaning but awkwa ..read more

If you’re living with a long-term partner but have no plans of getting married, you’re certainly not alone. The number of “cohabiting” adults has grown in recent decades—more than doubling, from 4% in 1990 to 9% in 2020.  While having a legally-recognized spouse does provide some basic benefits—more favorable tax treatment in some situations—staying unmarried doesn’t mean you can’t plan your financial future in tandem. However, it does mean you and your partner will need to apply a bit more strategy to your finances, especially in terms of estate planning. A spouse is often considered ..read more

Just as it’s important to schedule annual check-ups with your primary care physician, regularly assessing and updating your financial plan is an important strategy for long-term financial success. As your life evolves, your financial plan can fall out of alignment with your needs, or become less of a focus altogether. Life moves fast and priorities change, but that doesn’t mean your financial health should take a hit, and it’s never too late to rebalance and reevaluate your goals. Taking a proactive approach to protecting your finances can help you stay on top of issues like debt accumulati ..read more

Diversity, equity, and inclusion (DEI) are initiatives commonly used in the workplace and across various professional communities to help better hear the many voices that make up our diverse world. At Abacus, we understand that diversity and inclusion are essential to the success of any organization or industry. We also acknowledge that the financial services industry, in many ways, has often fallen short in both its awareness and its ability to evolve.  As we continue our commitment to running an inclusive financial planning firm and building a more diverse and equitable profession, we ..read more

People inherit an average of $46,200 during their lifetime, though this number can vary greatly depending on the size of your family’s estate. While many of us may receive an inheritance, it can be overwhelming to unexpectedly receive a large sum of money, especially when we’re still mourning the loss of a family member. Grief is a powerful emotion and it tends to cloud judgment. It is important for us to take time to grieve during this process. At times grief can overshadow people’s ability to make practical financial decisions, even if they want to use their inheritance in a meaningful wa ..read more

Women earn around 83 cents for every dollar their male counterparts earn. Just let that sink in for a minute.  Meanwhile, this startling fact only scrapes the surface of the full impact gender wage inequality has on women in the workplace. It doesn’t account for women of different races, different ages, or who work in different industries. For example, Black women earn 70 cents to a man’s dollar and Hispanic women earn 65 cents, highlighting an even more alarming discrepancy for women of color.  Gender wage inequality is certainly not new; it’s had a direct impact on women’s financi ..read more

We are delighted to present the inaugural edition of the Abacus Wealth Partners Impact Report. As a values-aligned financial planning and investment firm, we are committed to amplifying the impact work we have been doing – both past and present – and how we will continue to engage with this work in the future.  The 2023 Abacus Impact Report is a comprehensive overview exploring the areas where Abacus has made a substantial impact over the past year. It offers a detailed examination of our actions through three distinct lenses: financial advice, investments, and our contributi ..read more