When choosing a life insurance beneficiary, it is very important to be clear in the designations of who is going to receive the benefits after the death of the insured.
Due to specifications regarding the wording of beneficiaries, certain members of the family may be left out, while others may be unintentionally included.
It becomes especially complicated when there is an ex-spouse involved, or adopted children.
Should the beneficiary die before the insured, then a contingent receives the benefits instead.
However, this can become complicated if the contingent is a minor and no guardian has been designated. The process of determining insurance beneficiaries can be complicated, especially given the changing family situations that happen with divorce and death.
When deciding on your insurance beneficiaries, make sure the beneficiaries are clearly distinguished, with varying levels of contingents.
Specifying Your Beneficiaries
When writing out who will receive life insurance benefits upon your death, simply putting one-word designations like “spouse”, “children”, or “grandchildren” isn’t enough anymore. If you put “spouse,” then former spouses may be included in the event of a divorce. In the case that children are the beneficiaries, then which children will be included must be specified.
Are they only children from your marriage, or do children born out of wedlock count?
Also, it must be specified if adopted children are included, or the children of a spouse which you may have adopted as well. The same applies for any grandchildren. Also, if the children are minors, it is generally recommended that a guardian be appointed, as benefits aren’t usually paid to minors.
The beneficiaries can be specific, or a class. Specific beneficiaries are identified by name and relationship to the insured, while a class is identified mainly by relationship, such as “children.” If a class is chosen as a beneficiary, who belongs to that class needs to be clearly identified, as legal complications can arise if the class isn’t distinguished.
Also, it is advisable to have several levels of contingencies. In the case that a beneficiary dies, the benefits will go to the contingent.
However, if the contingency dies as well as the beneficiary, the benefits may be left in limbo, or to be disputed by other family members. That is why several contingencies must be clearly identified, as many complications can arise considering the possibilities of a changing family structure.
How Much Life Insurance Will Your Beneficiaries Need?
As important as it is to find your right beneficiary, you have to make sure that person(s) is left with enough money to cover any financial obligations you will leave behind. So let’s take a look at some of the factors that help you decide how much coverage you need to buy.
You always need to calculate your current debt situation first. The main goal of your life insurance plan is to give your family the money needed to pay off all your bills and debts. The number you come up with should be the baseline for how much coverage you start looking for.
If it’s in your budget we also suggest adding a few years worth of salary to the final total as well. Your income has helped support the family for years and a sudden loss could bring on major lifestyle changes. To stave that quick change it’s best to up the value some to provide some breathing room as they cope with a drop in household income.
Another category to account for is the funeral expenses. While you may not realize it, funerals are expensive. Funerals can come in around $10,000, and is a big expense that some might not be ready to pay. Your coverage will give your family the money that they need to fulfill your family wishes.
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Getting Affordable Life Insurance
In addition to choosing the right beneficiary, and ensuring that they will have enough money, it’s also important to get the most affordable life insurance plan available. A lot of applicants are surprised to see how cheap a life insurance plan can be, regardless of how much life insurance you need.
One of the easiest ways to get lower insurance rates is by cutting out tobacco. Users pose a much greater risk to have health problems like cancer or heart problems, which equals a greater risk to the insurance company. By mitigating that risk they’ll be charging you much more for your insurance coverage, and that charge could be twice the quoted amount.
The medical exam you’ll go through is going to show the carrier a snapshot of your overall health. If you’re overweight, then your premiums are going to be around 50% higher than a person that rates healthy. So when you know the date you want to apply its best to start living a healthier life a few months before. Eat a little cleaner, exercise a little more. These actions will keep your premiums down.
Another action is to lay off the gas pedal. When the insurance company is reviewing your application, they are going to pull your driving records. With a lengthy accident or ticket history, the carrier could see you as a high-risk applicant, which is going to translate into more expensive coverage. Slowing down on your way to work in the morning can save you hundreds of dollars every year, not to mention you won’t have to pay those expensive speeding tickets.
Our last tip is the easiest step for you. Compare, compare, compare. And you can make it even easier by working with us! We have years of experience working with quality insurance companies and we’ve helped all types of applicants get the perfect plan for you. Our status as independent agents allows us to gather as many quotes as fast as possible and present them to you in a simple form.
Explore all Possibilities with Life Insurance Beneficiaries
When deciding on life insurance beneficiaries, it is best to consider all possible situations. While it may become complex and it is grim to think of the future deaths of you or family members, all of these things do happen. Save your possible beneficiaries the trouble of having to dispute the distribution of benefits, and make sure to define the beneficiaries as specifically as possible.
Don’t use vague wording that may include or leave out people you don’t wish to.
You will want to make sure your benefits go to the intended recipients after your death. Try speaking with a life insurance advisor to determine how to properly designate your beneficiaries.
I graduated from college with a bachelor’s degree in English in business management, so I knew a great deal about metaphors, marketing, and even Russian literature. What I didn’t know was how to manage my money.
Although I’ve learned a lot about personal finance since then, I’ve also realized that many graduates enter the workforce feeling just as lost as I did. “Should I get a credit card?” “How much should I spend on groceries?” “Do I really need to start saving for retirement?”
Providing for your own financial needs and responsibilities can be overwhelming at first, but there are plenty of practices you can implement now to manage your money well! Here are seven healthy financial tips I wish someone had shared with me after I graduated from college.
What’s Ahead:
Consider a Variety of Jobs
After college, my dream was to become a writer. Plan B was “pastry chef” (I watched one-too-many baking shows in high school). And yet, despite my aspirations, my first job was as an admissions counselor—at my alma mater.
For many careers, it isn’t easy to find your dream job immediately after graduating. You might need to start with an internship. Or, perhaps you’ll find an entry-level position in an industry or company where you could rise to the job you want.
Fortunately, there are multiple ways to make a living and pursue your dream job. My position in admissions may not have been a direct step towards a writing profession, but the experience I gained in sales ultimately prepared me for my job today as a writer in marketing. I also gained some “real-world,” office experience, and a clearer understanding of how a business operates—which could help me manage my own bakery in the future!
All this said, don’t be so focused on finding the perfect job that you miss a unique opportunity to advance your career.
Learn to Budget
Early on in our relationship, my husband, Steve, and I were giddy to discover our personalities were quite alike. But, for all our similarities, we did not share the same approach to personal finance. He’s the saver, and I, sadly, am the spender.
Steve and I recognized early, however, that consistent budgeting would protect both our money and our marriage. Every month, we sit down with a cup of tea or glass of wine and review our expenses. It has taken years to nail down a budget and routine that works well for us, but I can say with certainty that the habit has spared us many arguments.
Whether you’re single or in a relationship, budgeting is essential for maintaining financial health. However, thanks to tools like YNAB, you don’t have to be an expert at money management to do it well. YNAB allows you to set up categories to plan and track your spending. It’s unique take allows you to “live on last month’s income” so you can break the paycheck-to-paycheck cycle. You’ll always know exactly how much money you have to spend.
Check out our full YNAB review here.
Start paying student loans NOW
Many college graduates receive a six-month grace period, during which they don’t have to start paying back loans—but that doesn’t mean they shouldn’t.
Experts suggest you start paying back loans immediately, if you’re able—even before graduation! By paying that debt down sooner, you can decrease your principal and potentially save thousands of dollars in interest over time.
You may also be able to save money by refinancing your loan(s) to a lower interest rate. Try researching options through Credible, an online marketplace that lets you compare rates from multiple lenders. Each quote is based on your unique credit profile, and rates are updated in real-time so you can get an accurate assessment of your offers.
Credible Credit Disclosure – Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.
Build an emergency fund
It’s easy to see the value of an emergency fund, and yet more than half of Americans could not afford a $400 surprise expense.
The trouble is many people don’t understand the significance of an emergency fund until they need it. Only a few months after I married Steve, I got a ticket for running a red light. I was mortified and ashamed and embarrassed—until Steve reminded me that we had an emergency fund. In a moment, all my stress slipped away.
To help you build your own emergency fund, consider a resource like the Wealthfront Cash Account. You can earn 4.55%APY on all of your cash—which is five times the interest from your average savings account! Wealthfront can even get your paycheck to you up to two days early, when you set up a direct deposit, so you can reap the rewards of that rate ASAP! As you start to save towards specific goals, organize them into buckets to track your progress.
Wealthfront is also a great option for individuals who want an easy segue from saving to investing. Many financial advisors won’t even talk with you, let alone manage your investments unless you have tens of thousands of dollars to work with. Wealthfront, on the other hand, lets you start investing with as little as $500 and will diversify your portfolio to match your unique risk tolerance. You can also integrate your Cash Account with your investment portfolio and have any leftover income automatically invested to maximize your time in the market.
Live on less
After receiving your first paycheck, you might assume you need that full amount each month to live comfortably—but every person is different, as is every salary.
My brother graduated from college this year with a degree in computational engineering (nerd alert!). His first job pays nearly three times what my first job paid me! So, before he splurged on a new TV, car, computer, etc., I gave him one small piece of advice: learn to live on less.
Instead of determining how much you can spend based on your salary, start with small budget categories and alter them when necessary. Steve and I began budgeting early in our marriage and thought we would need $200 each month for groceries, based on how much we’d spent on our own. As the months progressed, we recognized $200 wouldn’t meet our needs (and also that I love cooking), so, we added a little more every month until we reached a total that worked for us.
Those first few years out of college will set the stage for your financial health (or lack of) decades into the future, so start by learning to live on less. It will be much easier to increase your budget categories later, rather than limiting yourself in the future.
Begin saving for retirement
If you’re anything like I was at 22 years old, retirement might feel like a topic that’s easy to ignore. However, saving for retirement early can mean thousands of additional dollars for you and your family later in life.
Fortunately, there are companies that understand young people like us. For example, blooom is a retirement management company that provides a free analysis of your IRA and/or employer-sponsored retirement plan—whether you decide to sign up and pay for their services or not. After answering a few questions on their site, blooom offers professional advice on how you can adjust the allocation of your funds to avoid hidden fees and save more for the future.
Another reason blooom is especially useful for 20-somethings is that, unlike many investment management companies, they don’t require a minimum investment to manage your retirement plan. In other words, if you’ve just started your first job out of college and have barely contributed to your retirement plan, blooom is still ready to help. They can also manage your funds no matter where they’re located, so you won’t have to move your employer-sponsored plan to utilize their services.
Get a credit card
Let me be clear: what I am NOT suggesting is that you drive down to your favorite department store and sign up for their fancy rewards card that offers 10% off on your first purchase.
While a credit card can certainly have its perks, the better benefit for college graduates is its effect on your credit score—if you use it well. A good credit score can impact your ability to get a home mortgage loan or qualify for auto insurance. It may even influence a potential employer’s decision to hire you!
Start with just one card, at least for the first year. Search for options with low interest rates that require low spending levels to receive rewards. Finally, once you begin using the card, set up automatic payments with your bank and continue to monitor your transactions and payments often.
Remember that merely possessing a credit card does not improve your credit score; it’s how you use it. Credit cards can have a negative or positive impact on your life, so make sure you choose and use them wisely.
Summary
Taking steps toward healthy money management as a college graduate doesn’t have to be complicated—you just have to start off on the right foot.
As you search for jobs, consider a wide variety of options. Building a career takes time, and your dream job may require some entry-level positions or even an internship for you to get started. Once you’re settled into the workforce and begin receiving paychecks, develop a budget immediately! Be sure to include important goals like paying off your student loan(s) and saving for retirement. Finally, create habits like living on less and saving for unexpected expenses to help you better prepare for situations, expected or not, in your future.
Procrastination may have served you well in college, but it won’t help you achieve financial health. Act intentionally. Learning to manage your money well now will help you provide for your family, pursue new experiences, and prepare for whatever lies ahead.
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MoneyUnder30 receives cash compensation from Wealthfront Advisers LLC (“Wealthfront Advisers”) for each new client that applies for a Wealthfront Automated Investing Account through our links. This creates an incentive that results in a material conflict of interest. MoneyUnder30 is not a Wealthfront Advisers client, and this is a paid endorsement. More information is available via our links to Wealthfront Advisers.
Breaking up is usually an emotionally charged situation, but one thing’s for sure: the wrong words in the moment can make it a lot worse. Oftentimes, our brain in the heat of the battle will think of replies that are not only unhelpful and hurtful to both parties, but sometimes downright funny—all due to their sheer inappropriate nature. To help you survive breakups without incident (and perhaps spare your pride), here’s a list of 20 things you should avoid saying when ending a relationship for good.
1. It’s Just You
One user shared, “Her: ‘Is it someone else?’ Me: ‘No, it’s just you.’”
Another user replied, “My ex was insistent that I was leaving him b/c I wanted to go fuck other people and ‘you probably already are.’ I wasn’t cheating. I left him because he tried to kill me and still he was pointing fingers at anyone else.”
One added, “Sometimes it’s important that someone knows this, though. Because if it’s someone else, and they don’t work out, it means you’ve still got a chance. If you’re the reason the breakup is happening then you know it’s probably over. Edit: some of the responses are suggesting I think it’s a good idea to get back together with someone like this. I do not. I am mostly saying that closure is good.”
“I hope you kept a straight face, nodded and said that they deserve better than that…,” one user added.
2. I Missed Your Parents More Than You
“Two months after our breakup, she asked me if I missed her. I told her I missed her parents more than I missed her,” said one Redditor.
Another user also shared, “I was in a 5 year relationship with a guy who had a huge and absolutely lovely family. His mom had 10 siblings, and everyone was super close in the best kind of supportive way. Most of our friends were his cousins and his grandparents treated me like I was one of them. That relationship ran on a little longer than it should have simply because I didn’t want to lose that family. Never saw any of them again after the breakup and I still miss them, even ten years later.”
One commenter also replied, “My ex-wife’s brothers were at my wedding to my current wife. They fully support me, which is nice. They are probably two of my best friends to this day.”
Another user replied, “My MIL still includes an ex-SIL in family events (where appropriate). She’s still the mother of my kids’ cousins, so she’s still in our lives, but when they do a Girls Night with my wife and other women in the family they include her, because, well, she’s a lovely person and nobody stopped loving her just because her marriage didn’t work out.”
3. I Don’t Love You
“The worst is telling someone you don’t love them anymore and genuinely seeing the heart break on their face. That’s a gut wrenching thing to see when you know your words caused it,” one user stated.
Another user confirmed, “Let me tell you, it’s not great hearing it either.”
Another Redditor replied, “It’s the kind of thing you hear that makes your face hot and your ears ring — it feels unreal. My fianceé just left me after telling me that she loves me but she isn’t IN love anymore and it left me broken, replaying infinitely every time I close my eyes. I see her unaffected facial expressions and her lips moving in slow motion and my heart sinks each time like the first time I heard it.
“Edit: Thank you to everyone who said it gets easier as the vision stops appearing so frequently. I have my first therapy appointment on Friday since everything went down and I’m looking forward to it. It blows me away how kind people can be here.”
One user responded, “I won’t say it gets better, but eventually you’ll go a whole day without thinking about it, then later a whole week, and eventually a whole month.”
Another user then added, “And the beauty of it all is although they may not love you anymore, at one point someone loved you so you know you aren’t incapable of being loved, it just means someone new can love you again. (Oddly enough learned that from the Simpsons, really helps me get through tough times.)”
4. It’s Unpleasant
A user commented, “It’s unpleasant.
I’ve had that said to my face. Unfortunately, the memory of it is seared into my brain—probably forever.”
Another user added, “God yeah. Love of my life said it to me and it was absolutely crushing. “I don’t know if I’ve ever loved you”.
One also replied, “I got that one and then asked her to come back. Made no sense. I didn’t trust her at all anymore.”
Another user added, “I’m gonna be honest with you here. She did the same thing with me lmao. But in my case she was going through an extreme bout of depression and that’s one of the things that can happen. Aaaaaaaand we got back together. It’s been 8 years since then and we’re married now.”
Another user added, “This is a relationship. They don’t go in a straight line where you constantly ‘love’ one another. Relationships meander, they bend and curve up and down. One day you’re happy the next you could be depressed. One day you could be in an argument the next sick. Relationships are built on trust, understanding and communication. When they break down, so will the relationship.”
One user also commented, “Honestly I feel like us breaking up was one of the best things for our relationship. We were both young and were going through shit and grew complacent. Breaking up made us appreciate what we had that much more. Now, almost a decade later, we joke that we love each other so much we chose to be together twice.”
5. I’m Happier Without You
One user commented, “The breakup wasn’t my choice, but when he tried a few weeks later to reconnect, I said ‘Oh, I’ve actually been really happy since we’ve been apart. I don’t think I can get back together now.’ My sister called me savage for it, but I wasn’t trying to be mean. It was the truth, and I just hadn’t realized it until the thought of taking him back filled me with dread.”
Another user replied, “Unintentionally savage.”
One user exclaimed, “The most savage of savages.”
Another Redditor commented, “Similar thing happened to me. He called a month later, while I was living my best life (hanging out with friends and family I didn’t get to see because he monopolized all of my free time so that I couldn’t see them) and wondered why I hadn’t called. I told him that I was getting on with my life. He then said (I cannot make this up), ‘It wasn’t supposed to go this way. You were supposed to call every day, beg me to get back with you and learn your lesson and be a better girlfriend.’ All of this bc I could finally afford my own car and could now come and go without him. Smh.”
6. I Agree
One commenter posted, “She was breaking up with me, and I told her, ‘You know you are right, and I agree, we aren’t very compatible, and our relationship has been on the decline for some time.’ Those were my true thoughts and feelings. I felt a sense of relief when she broke up with me because I realized it was the best move for the both of us.
“So why was this the worst thing to say? It ended up making her want to double down on the relationship. I was bombarded with non-stop texts, phone calls, and unannounced visits to my apartment. All of that. Apparently breaking up things amicably was not how she wanted to go. I think she was adamant she left with the upper hand.”
Another user also added, “Reminds me of my husband and a deal he recently had with his ex (they have kids). They were having a discussion about budgets at a restaurant with her mom being a mediator. She wanted an absurd amount of money for their daughter’s party.
“He told her, ‘We aren’t going to agree. I’m done with the conversation,’ and got up to leave. His ex ALWAYS has to be the one to walk away. As he was getting up, she jumped out of her chair, grabbed her stuff, and basically sprinted out of the restaurant. Just so she could be the one to leave.”
Another Redditor replied, “I don’t think that’s the power move she thinks it is, that’s actually hilarious. I’d have genuinely burst out in laughter. It’d make her look desperate and self conscious.”
One commenter shared, “Yeah I’ve had a breakup with the woman who always needs to win. She wanted to break up with me but also it had to be exactly her way, it caused her extreme rage when inevitably I defied her demands. It was stupid stuff too like she owned a car but had been driving a nicer car that I owned and she demanded I keep paying the insurance on it and transfer it over to her lol…
“It was really weird, I always figured she was cheating or at least thinking about it because she was actually a really good girlfriend for like 10 months and then a flip switched and she just quit everything one day.”
7. No One Else Will Ever Love Me
One Redditor said, “’Please don’t leave, no one else will ever love me,’ said me sobbing in the open doorway of the new apartment of my wife of barely one year. My self esteem was totally shattered. My life was over, there just was nothing left. She was kind but firm. She knew the relationship wasn’t a good fit before I accepted that.
“We were very young, friends but not life partners. I didn’t fully understand until I was a few years into my second marriage. We both went on to have successful, happy lifelong second marriages.”
Another user replied, “That hit close to home, as I recently begged someone to please not leave me. I’m really truly happy for you that you found love and perspective, and hope one day I can be there too. Not today though.”
Another user added, “Not a break up, but was seeing this girl off and on (because she wouldn’t commit to actually dating). Got sick of the yo-yoing, fired up Facebook Dating and met my now girlfriend for drinks two days later.
“When the non-committal girl came back and I told her I was off the market I said, ‘I’m just looking for someone who knows what commitment is.’ Must have hit a nerve because about six weeks later she was pregnant.”
8. You’re Turning Into Your Mother and I Hate It
“’You’re turning into your mother and I hate that [woman].’ I’m sure there was a more diplomatic way to phrase that but 19 year old me was out of fucks to give at that point,” one user stated.
One replied, “Classic! And that was it? Said that, dropped the mic and you were outie (Audi) like 4 circles? That would be beautiful—a movie quality quote my friend…”
Another user responded, “Haha something like that. It was the last thing I ever said to her, and from what I heard from some mutual friends years later I was absolutely correct in my estimation.”
9. We Should Just Be Friends
One user shared, “Her, ‘This isn’t working out. I think we should just be friends.’ Me, “Lets just never talk again is probably best.’”
Another user replied, “Better than faking it tbh.”
One commenter replied, “That’s not mean, that just is what it is. I was broken up with and the guy was all about still staying friends (I was in a position to buy a first home, was doing rather well, etc etc and he was looking to be… Friends with benefits and roommates… I don’t… know) his reasons were valid. I wasn’t upset but I responded honestly, ‘I get it, thanks for being honest and while I appreciate the offer of friendship I am looking for a partner not a friend. I have more than enough friends.’”
10. You’re a Deadbeat
“Not me but someone told my aunt they were breaking up with her because she was a deadbeat going nowhere in life. Then she became a doctor out of spite. Lol,” one user commented.
Another user replied, “Ah yes, spite success, the best kind of success.”
11. Intimacy is One of the Reasons
One user shared, “[I said] ‘S-x is part of the reason I’m ending things…’ In my defense it was my first time breaking up with a guy. The man had a b-ner the entire time I was breaking up with him, he was crying, and he kept trying to have sex one last time during my break up speech. I was perplexed.”
Another user replied, “The image of a dude being broken up with while also sporting a full tent is honestly kind of funny.”
12. Thank You, That Was Very Helpful
“I once ended a struggling relationship. A few months later I got an email from the person, and it was pages of everything I had ever done wrong in the relationship. I realized that this was why the relationship had been struggling. All these things that had been bothering my partner, and they had bottled them all up inside instead of, say, talking to me about it.
“So, my entire response to this multiple page email with everything I had ever done wrong, ‘Thank you, that was very helpful,’” one user shared.
Another user quoted, “You fell asleeeeep?! It was 18 pages!”
Another user added, “’FRONT AND BACK!’ ‘Don’t worry about me not getting any sleep. I STILL HAVE YOUR LETTER!!’
13. Go Out In Style
One frustrated user shared, “I had a partner who regularly threatened [self harm] if I left. She was horribly mentally, emotionally, and physically abusive. The last time she did this, she threatened to jump off our apartment balcony. I told her to make sure to ‘do a back flip on the way down so you can at least go out in style.’ and left the apartment. Unsurprisingly, she didn’t do it.”
Another user replied, “Had a similar break up. Was with the guy for 2 years, he sent me videos and pictures of his mouth full of pills and deep down I knew he wasn’t really going to do it. I still regret the way I handled that because if he really did it, I don’t know how I’d be able to live with myself.”
14. No One Will Ever Love You like I Do
One user commented to the thread, “No one will ever love you like I do”
At the time, I was young and that’s really how I felt. In retrospect, it was mean and manipulative.
We’re now both in happy marriages.” One user replied, “”I’m good with that.” “My ex told me that, or something along those lines, and to this day it still breaks my heart almost 2 years later.”, one user commented.
15. You Need Therapy
One Redditor posted, “You need therapy if you actually want to be successful in relationships. You can’t even commit to owning a cat.”
Another user chuckled and posted, “This one actually got an audible laugh out of me.”
16. You Are an Old Loser
One commenter said, “’You are a 30 year old loser. Stop going to clubs to be the ‘dj’ b/c people actually make fun of you.’ Ahhh, stupid younger me. Would never say something like that. I was very hurt because he was with someone else 1 month after our +3 years relationship. But we are good now, and I wish him all the very best in the world. He was a good guy, but we were simply not right for each other. I just wanted to damage his ego because mine was damaged.”
Another user replied, “Does he still go to clubs to DJ? This is important.”
One user replied, “Spoiler: HE DOES. Hahaha and I have been to those parties too. No bad blood anymore, we are cool.”
17. Please Don’t Write Back
One user shared, “’Please don’t write back. This hurts too much.’”
Another Redditor replied, “This one hit close to home.”
18. It’s Not Me, It’s You
“’It’s not me, it’s you.’” one user added.
Another replied, “You’re [hecking] right it’s me.”
One user commented, “Nobody tells me it’s them, not me. If it’s anybody, it’s me.”
“I prefer ‘It’s not you, it’s me. I don’t like you,’” another Redditor added.
19. Do We Have Chemistry?
One user commented, “I was a high school freshman and I opened my breakup speech with, ‘Do you think we have chemistry?’ Hoping he’d say no and make it easier. He said yes. Such a stupid way to go about it, I know. It didn’t teach me anything because a year later I opened another breakup speech with the same question, and he gave the same answer. I finally stopped asking that question.”
One user also responded, “It’s all about your rebuttal ‘Do you think we have chemistry?’ ‘Yes.’ ‘Well that makes one of us. Bye!’”
Do you have more things in mind? Share in the comments!
Source: Reddit.
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SBI also offers regular home loan along with home top up loan. (Representative image)
The process to get this loan along with the list of documents and eligibility has been provided on the official website of SBI Home Loans.
SBI Home Loan: A loan against property (LAP) is a type of secured loan that is offered by banks and non-banking financial institutions (NBFCs) in India. In a LAP, the borrower pledges their property as collateral against the loan. This means that if the borrower defaults on the loan, the lender has the right to seize the property.
Loan against property is a popular option in India, especially for individuals who need significant funds and are willing to provide their property as collateral to secure the loan. However, individuals should always compare the terms, interest rates, and fees offered by different lenders before making a decision.
SBI Loan against Property (P-LAP)
This article aims to brief you about State Bank of India (SBI) Loan against Property (P-LAP). Readers must note that LAP is also offered by several other public and private sector banks. If you are considering a loan against property, it is important to weigh the pros and cons carefully. You should also compare the terms and conditions of different lenders before making a decision.
Also Read: Home Loan Checklist: Before Applying For A House Loan, You Must Know These Things
In the SBI, loan against property can be availed for fulfilling personal needs such as meeting expenditure on education, marriage, healthcare, etc. other than speculative purposes. However, loans under SBI LAP are not permitted for business purposes.
The process to get this loan, along with the list of documents, eligibility and interest rate, has been provided on the official website of SBI Home Loans.
The bank also offers regular home loan along with home top up loan, balance transfer of home loan, NRI home loan, Flexipay home loan, privilege home loan, Shaurya home loan and Tribal plus, among others.
It’s essential for borrowers to carefully consider their repayment capabilities before opting for a loan against property, as failure to repay the loan could lead to the lender initiating foreclosure proceedings and selling the property to recover the outstanding amount.
About the Author
Namit Singh Sengar
Namit is Senior Sub Editor in the business vertical of News18.com. With over five years of experience, he covers personal finance, brands and economy.…Read More
This week we are kicking off everything wedding! We have to admit, it’s a topic we don’t foray into much anymore shame on us!, but since one of our team members’ now! fiancé put a ring on it, we can’t stop the whole, “ok, let’s talk wedding” conversation.
Inspired by what ought to be one of the most beautiful days of one’s life, this week we’ve gathered all our favorite modern wedding trends for you. Think gorgeous gowns that will make you stray from your budget faster than you can say “i do” and creative ideas to get your wedding bells ringing. So without further ado, we’re kicking things off with something fabulously blue! rhyming totally intentional!
We all know the saying. Something old, something new, something borrowed…. Traditionally these good luck tokens are only obvious to the bride and those in her party, but we love the idea of the modern bride being a little more adventurous in her indigo-inspired selection. From powder blue pumps to a statement-making royal blue necklace, these bold pops of blue would bring life and spunk to your big day!
We not only have our sights on the wedding ceremony itself, but also the much anticipated honeymoon! Be daring and beautiful in a sexy blue number like this Stella McCartney lingerie set that’s on sale!. Or start the marriage off on the right foot with these comfortable slip on sneakers– perfect for exploring the Hawaiian islands or streets of Rome!
While we certainly don’t want to see the something blue tradition die, we’re super into the idea of modern interpretations. Do you have any super creative something blue ideas? Pretty please share. We’d love to know!
GET YOUR SHOP ON: > Ombre Bib Necklace > Fendi Leather Pumps > Blue Motif Dreki Clutch > Big Dial Navy + Rose Gold Watch > Spektre Sunglasses > Estee Lauder Insatiable Ivory Lipstick > Stella McCartney Bra + Briefs > Blue Distilled Sneakers
multimedia image 1 by Bianca Sotelo images via Luli Sanchez + Style.com // 2 via Elle Decoration // 3 via Vogue Italia // 4 via Anna Badur // 5 via Vogue Thailand
A codicil is a legal document that modifies, amends or revokes all or part of a will without replacing the existing will. Codicils allow people to make small changes to a will without having to write a whole new will.
What is the purpose of a codicil?
A codicil allows you to change your will easily and quickly when your life situation changes. The original will remains valid (unless the codicil revokes it)
Cornell Law School Legal Information Institute. Codicil. Accessed Jul 11, 2023.
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Some modifications that a codicil might address include:
Removing beneficiaries who died or became estranged.
Replacing an executor who died or whom you no longer trust.
Adding or removing property, or changing who will inherit your property.
Taking into account a marriage, divorce, separation or name change.
Changing how you’d like your business divided.
Changing your minor children’s guardian.
If you need to make sweeping major changes to your will, or you’ve lost or damaged your original will, it may be wiser to create a new will. Additionally, multiple codicils may lead to confusion during probate, so at some point you may want to draw up a new will rather than create more codicils every time you want to update your estate plan.
Best for: Ease of use. Cost: One-time fee of $159 per individual or $259 for couples. $19 annual membership fee thereafter.
Best for: Users who want an all-inclusive experience. Cost: $99 per year for Starter plan. $139 per year for Plus plan. $209 per year for All Access plan.
Best for: State-specific legal advice. Cost: $89 for Basic will plan. $99 for Comprehensive will plan. $249 for Estate Plan Bundle.
How to write a codicil in 8 steps
Here are the basic steps to creating a valid codicil:
Decide what you’d like to change about your will.
Find an estate planning attorney or online will maker to draft the codicil. Some states may have forms you can download. Be sure you understand your state’s laws and that your codicil meets your state’s requirements in order to be valid and enforceable.
Include your name, address and the current date in your codicil document.
State in the document that it’s a codicil to your existing will and that it overrides your existing will.
State in the document that you’re of sound mind.
State clearly and precisely in the document which parts of the will you’re changing and explain in detail exactly how you want things changed. Be specific.
Sign your codicil. Your state may also require notarization and/or a certain number of unbiased witnesses.
Store your codicil with your original will in a safe, secure place where your executor can find it.
🤓Nerdy Tip
Crossing out portions of or writing notes on your existing will, known as a holographic codicil, can create confusion and legal challenges. Holographic codicils also aren’t always legal in all states.
What are the pros and cons of codicils?
Advantages of codicils
Easy and fast way to change your will. Codicils typically don’t require the time or expense that most wills do.
Offers flexibility to make many different kinds of changes. A codicil can cover a lot of ground with relatively little effort.
Helps keep your estate plan up to date. A codicil can ensure that your wishes reflect your current family and financial situation. It can also address any outdated legal language in the original will.
Legally compliant way to make a change. A codicil is a more official way of updating your will compared with scribbling notes in the margins or on the back of your will.
Provides a paper trail. A codicil creates a record of what you want, which can prevent squabbles or misunderstandings later.
Disadvantages of codicils
Needs to be kept with the will. If your codicil becomes separated from your will, people might not implement your changes.
Could open the door to a will contest. A codicil that isn’t written properly or that unintentionally conflicts with the original will increases the risk that someone might contest your will.
Might create uncertainty. If you have multiple codicils, they might contradict each other or create confusion about what you want.
A couple of weeks ago, I spoke to a group of elementary-school teachers about their 403(b) plan (the 401(k) equivalent for non-profit employers, in case you didn’t know). Like most investors, they were a bit shell-shocked over what’s happened over the past 20 months or so.
Many asked whether they should be contributing to their retirement accounts at all, given that the S&P 500 is still down approximately 40% from its October 2007 high, even after the rally we’ve seen since early March. It’s understandable. By some metrics, the past decade has been even worse than what happened during the Great Depression.
My answer was, yes, you should still contribute to your retirement accounts. The tax breaks are just too good to pass up. Money you contribute to a traditional 401(k) or 403(b) reduces your taxable income, so it’s essentially a tax deduction. Plus, you don’t pay taxes on any interest, dividends, or gains until you withdraw the money in retirement. That’s known as tax-deferred growth, and ends up providing more money in retirement.
Now, if your boss doesn’t match your contributions to the company plan, you might be better off in a Roth IRA, which doesn’t give you a tax break today, but gives you one in retirement. Whichever account you choose, you should still keep saving; it’s the only way you’ll be able to retire. If you can’t stand the volatility of the stock market, invest in bonds or even cash. Just keep saving!
Stocks for the Really Long Run That said, I do think most investors should have some of their money in stocks. Especially the 30-something teacher who told me that she couldn’t stand seeing her account balance drop, drop, and drop last fall, so she sold everything and has been in cash ever since. Again, I understand — it’s not easy watching years of savings seemingly disappear in a matter of months. But it’s important to remember that investment success isn’t based on how much you have right now, but how much you’ll have when you need it. Staying too conservative for too long can increase the chances that you’ll come up short.
The truth is, folks, your investment time horizon might be longer than you think. Let’s assume the teacher I met is 35 years old and plans to retire at 65. That’s 30 years of investing ahead of her. But she won’t sell all her investments on the day she retires.
Sure, she should have at least 40% of her money in bonds at that point — and perhaps even more, if she’s more conservative — but she can’t play it too safe. Because at age 65, the average woman lives another 20 years; the average 65-year-old dude lasts another 17 years. Marriage actually increases the chances that one spouse will make it even five years longer (my wife doesn’t believe it). And those are the averages; half of the population will live longer.
Add in lengthening life expectancies, and our 35-year-old teacher could reasonably expect to be living — and investing — well into her 90s. Of course, by then she should be playing it very safe, perhaps with only 10% to 20% of her assets in stocks. But it means that a stock (or mutual fund) that she buys today could still be in her portfolio by the year 2070.
Historically, with a timeframe that long, stocks have been the investment of choice. The chart below indicates how often from 1871 to 2006 that stocks beat bonds over various holding periods, courtesy of the fourth edition of Jeremy Siegel’s classic Stocks for the Long Run.
If 2007 and 2008 were included in these numbers, all those percentages would be lower, including a 30-year period when bonds beat stocks (assuming that the bonds used were long-term Treasuries). So I’m definitely not saying that stocks are riskless investments as long as you hold on long enough.
But I still find the historical odds very compelling, especially for a multi-decade investment time horizon. And let’s face it: Most of us will need stock-like returns to be able to retire and ensure that our portfolio keeps up with inflation over such a long timeframe. But that’s a topic for a future article.
In the meantime, have some fun (or grim reality) with the longevity calculator at www.livingto100.com to get an idea of how long your portfolio will have to last.
There are certain things in life we’d all just rather not think about. A prime example, as an adult, is considering getting a trust or will that determines what happens to your assets after you pass away.
Most people avoid this topic because…well, it’s not pleasant to think about. But the sheer cost of hiring an attorney to prepare those documents is another reason folks opt to ignore trusts and wills.
If cost is the reason, there’s no need to delay any longer. You can take advantage of online trusts and wills to prepare either or both, do-it-yourself style.
What’s Ahead:
What are trusts and wills?
This is a question that needs to be addressed before we go any further. That’s because many people use the two interchangeably, as though they’re basically the same document; or perhaps two versions of the same document. They’re not.
A will is the simpler of the two. Its most important functions are to appoint a guardian for any minor children you have, as well as to manage the distribution of assets upon your death.
A trust is the more comprehensive of the two documents. Rather than appoint a guardian for your minor children or manage the distribution of your assets, a trust instead becomes a legal entity that takes custody of your assets. (Guardianship of your minor children must still be provided for in your will). Unlike a will, a trust is not subject to probate or legal challenge. That makes it the stronger of the two.
You’ll need to appoint a trustee to oversee the management of the assets in the trust, as well as spell out exactly what those assets will be. And while a will takes effect only upon your death, a trust can either go into effect while you are still alive or be created upon your death (as a result of trust documents prepared in advance and online).
What are online trusts and wills?
Online trusts and wills are the same documents that will be prepared for you by an attorney. The only difference is that no attorney is typically involved. Much like many other transactions and processes, the preparation of trusts and wills becomes standardized and automated when they’re made available online.
The standardization is actually an advantage. The structure of both trusts and wills is determined by laws and legal disputes in each state. For that reason, the documents are easily standardized, even to accommodate situations and provisions that may be unlikely but not unknown.
You’ll be able to access trust and will document online for your state of residence. Once you select the right forms, it will simply be a matter of inputting the information that applies to your own preferences for your estate or trust. This will allow you to customize each form to meet your specific needs.
You can think of it as something like the FAFSA you likely filled out when you applied for financing for college. Another example is if you’ve ever done your income tax return, using tax-preparation software. The software asks for all the necessary information to complete your return.
All you need to do is provide that information, and the online service will generate fully completed wills and trust documents – ready to print.
More than anything else, online trusts and will automate the preparation process and do it at only a fraction of the cost of attorney-prepared documents.
What information do you need to fill out a trust or will?
Information you should expect to provide for the completion of your will or trust document will likely include the following:
Personal identifying information. This includes info such as your full name, address, date of birth, and Social Security number.
If you’re married, the name of your spouse. Plus, his or her personal identifying information.
Beneficiaries. This will include the names and personal identifying information for each beneficiary named in your will or trust.
A trustee. The name and contact information for the trustee for either your estate or trust. This can be an individual or an institution, like a bank.
A list of all assets. That will be included in the will or trust. This will include bank accounts, taxable brokerage accounts, retirement accounts, real estate owned, and personal property.
Life insurance policies. You may also need to provide information on life insurance policies. This will be especially important if the proceeds from the policy will fund your trust.
This is just a partial list of the information you’ll need to provide for the preparation of your will or trust. How much will be needed will depend on what you want your will or trust to accomplish.
How to create online trusts and wills
Even though it’s possible to create do-it-yourself online trusts and wills, it’s not something you want to be cobbled together from various sources on the web. Instead, there are online services dedicated to providing assistance in the preparation of trusts and wills.
One of the best examples isTrust & Will. Unlike a lot of online legal document sources, they don’t offer assistance with many different kinds of documents. Instead, they focus entirely on trusts and wills. If you’re going to prepare documents as complex and specific as trusts and wills, you’ll need the assistance of a company that specializes in that niche.
They’ll provide you with all the necessary legal forms which are designed specifically for the laws within your state of residence. Armed with those documents, you’ll simply enter your personal information in a series of input screens, and the documents will be prepared for you. What’s more, those documents have been provided by experienced estate planning attorneys. In fact, certain documents will be reviewed by experts from Trust & Will before they’re finalized.
One of the benefits that makes Trust & Will stand out from the competition is that you can make unlimited changes to your documents as your personal circumstances and finances change.
You can use the service to provide a Guardian document, which is designed specifically to nominate guardians for your children. Otherwise, you can create a will to make provisions for the care of your children and the distribution of your assets, or a trust, which while similar to a will, enables both your estate and beneficiaries to avoid probate court. Wills and trusts will be reviewed by estate planning experts, but not guardianship arrangements.
You can choose which of the three plans will work best for you:
As you can see, Trust & Will will cost just a fraction of the thousands of dollars you’ll pay to an estate attorney to prepare similar documents.
Are online trusts and wills legal?
The answer is yes, as long as it meets certain legal requirements. And those will be spelled out to you by the online trust and will provider.
All you need to do to make trusts and wills legal is to complete the proper forms, then sign them along with any other required parties. Then presto, the documents are legal.
Between the two, trusts are the more complicated plan. It will need to contain the following information to be legal:
It must include the name of the maker of the trust, also known as the grantor. That would be you if you’re the one creating the trust for the benefit of others.
It must appoint an individual who will be responsible for managing the trust, which can even be you in the case of a living trust.
The plan must also name the individual who will take over the administration and management of the trust after you die.
It must list the beneficiaries who will receive property pursuant to the trust.
It must provide the name of the person who will manage the trust after your death if it’s for the benefit of minors.
You should also check with laws in your state as to who and how many signatures you will need. Typically, you will need to sign the document in the presence of a notary public, but your state may also require signatures by one or more witnesses.
As long as you have all those bases covered, either your trust or you will is completely legal.
The benefits of online trusts and wills
Online trusts and wills are becoming increasingly popular. That’s because of the many benefits they offer when compared to having them prepared by a law firm.
Those benefits include:
Prepare documents from home
If you have a busy schedule, it can be difficult to carve out time to meet with an attorney, let alone follow-up visits. But perhaps like a lot of people, going to an attorney’s office is something like going to your dentist or doctor – it’s something you’d rather avoid if you possibly can.
Online trusts and wills give you the benefit of being able to prepare documents from the comfort of your own home.
You only need to supply information – not prepare the documents
Typical online trust and will programs are set up based on a question-and-answer format. You’ll enter the necessary information (see list of that information above) into input screens, and the documents will be automatically populated and prepared for you. You don’t even need to know anything about trust and will documents.
They’re low cost
A lawyer will charge a minimum of$300 for a very simple will, but $1,000 to $1,200 is much more common. By contrast, an online will can be prepared for less than $100.
The savings on a trust preparation are even more significant. An attorney will typically charge several thousand dollars to prepare a trust, while an online plan will be no more than a few hundred dollars.
They’re simple
Sit down and speak with an attorney for an hour or so and you may leave more confused than when you went in. Legal-speak doesn’t translate into English very well, and not all attorneys are sensitive to that fact. It’s even possible you may be too confused – or even too intimidated – to ask any intelligent questions.
With online trusts and wills, there’s no face-to-face meeting, no complicated legal terms, and no coming away wondering what really happened.
The process is standardized
Let’s face it, in virtually every field there are good apples and bad apples on the other side of the desk. While it may seem comforting to have an attorney prepare your trust or will, you’ll be completely at the mercy of his or her competence or sensitivity to your specific needs. If so, you may get a poorly prepared set of documents with overlooked or omitted provisions that are important to you.
With online trust and will preparation, the process is standardized. There are no egos involved, no intimidation, and no personality clashes. You’ll go online, indicate the documents you want, and enter your relevant personal information. The documents are then prepared for you – and often reviewed by experts – then provided to you.
What to watch out for with online trusts and wills
There are three factors that can present complications with online trusts and wills:
The degree of complication in your financial situation
If you have a fairly simple financial situation, online trusts and wills can get the job done for you. That may include a situation where you own your own home, have a retirement plan, and money in the bank. That’s a standard financial profile and one that includes few potential legal curveballs.
But the do-it-yourself route may not be appropriate if your finances are either more extensive or more complicated.
Examples of these situations include the following:
Any of these circumstances and more may require special handling by an estate attorney. There may be specific state laws or provisions that will affect the distribution of your estate in unexpected ways.
Special circumstances
If your estate will require provisions to accommodate complex situations, it may be best to have your will and trust prepared by an attorney.
Examples of special circumstances include:
You intend to disinherit a child or even a spouse.
There’s a reasonable chance your will may face a legal challenge upon your death.
You have a complicated tax situation with more than a slight chance of bringing in IRS auditors upon your death.
One or more heirs need special care, perhaps even lifelong.
You’re married but either you or your spouse have children from a previous marriage.
One or more of your heirs is financially irresponsible, and you’d like to set up a long-term distribution plan rather than a single lump-sum payment.
You want to make a provision for someone who is not a natural heir, such as a close friend or even a charity.
You have a significant amount of debt that may be in existence at the time of your death.
Changes after the fact
Wills and trusts might not be nearly so complicated if life were more stable. Unfortunately, it’s not uncommon to experience major changes in life that, while not specifically financial in nature, will ultimately have a financial impact involving your estate.
Examples include:
Marriage or remarriage.
Birth or death of heirs.
Divorce, either by you or by one or more of your heirs.
Significant changes in state or federal tax laws that will require adjustments to either your will or trust.
Receipt of an inheritance that will become part of your estate.
Incapacitation, due to illness or injury, either by you, your spouse, or one of your heirs.
A falling out with an heir.
Major changes in either your assets, liabilities, or both.
When creating a will or trust it’s important to understand that the changes above (and more) may necessitate a redrawing of your documents, or at least significant modification.
Should you create an online trust or will?
Unless you have a complex family or financial situation, you can use an online trust or will service to prepare either document. It will make certain your children are provided for, your assets are protected, and your final wishes are carried out. The process is simple and inexpensive, you can do it all from the comfort of your home, and either plan will be completely legal.
Going without at least a will is playing with fire. If you die without a will, the disposition of your estate – and even the care of your minor children – will be determined by a court of law. A will gives you an opportunity to make those decisions in advance. And if you have significant assets, a trust will enable you to protect those assets, distribute them to who you want, and avoid the probate court potential that often comes with wills.
Given how simple and inexpensive online trusts and wills are, you should take advantage of this technological breakthrough to prepare the documents you and your loved ones will need.
When an online trust or will won’t make sense
If you have a complicated family or financial situation, you may need to use an attorney to prepare your will or trust.
A complicated family situation could be one in which there are children born outside your current marriage. Another example is where you want to exclude one or more children from your estate or trust.
An example of a complicated financial situation is a business. If you have partners or multiple owners in the same corporation, special consideration will need to be given to those individuals after your death. The same may be true if you have substantial business debts.
Summary
Unless you have a very complex financial situation, you should seriously consider taking advantage of online trusts and wills. Not only will it cost only a fraction of what you will pay to an attorney for the same service, but you may find it easier to create the will or trust of your choice online and in the comfort of your home or office, rather than sitting across the table from an attorney – with the fee meter running.
Don’t be without a will, and if you want to create a trust, do it now. With all the advantages offered by online wills and trusts, there’s no reason to put it off any longer. The peace of mind you’ll get will more than justify the time, effort, and money spent making it happen.
While Millennials are delaying or forgoing parenthood at higher rates than previous generations, they’re also leading the way when it comes to adopting pets. During the pandemic, this trend accelerated with 50% of Millennials considering fostering or adopting a pet.
I’m not exempt from the statistics: this past year, I headed down to my local animal shelter and returned home with two senior cats, Annie and Hailey. Annie likes long naps in the sun and Party Mix, and Hailey likes tuna fish and waking me up at six in the morning. At least in my case, there’s a simple reason behind pet ownership: pets can help to make our day to day lives a little bit happier, especially during uncertain times.
What’s Ahead:
Are Millennials adopting pets instead of having children?
Millennials trail behind previous generations when it comes to achieving traditionally “adult” milestones, including purchasing a home, getting married, and having children. According to data from the National Vital Statistics System, in 2019 the general fertility rate in the United States declined to 58.3 births per 1,000 women aged 15 to 44. When Millennials do have children, they tend to be older than first-time parents of previous generations and have fewer children overall.
One statistic where Millenials do lead the way, however, is pet ownership. 27% of Millennials own a pet, and many more have plans to adopt a furry friend in the future. During a time when having children may seem risky or financially out of reach, pet ownership can be a way to approximate the experience of starting a family.
Are Millennials adopting pets at higher rates?
Millennials are adopting pets at a higher rate than previous generations, and they’re also less likely to have children of their own. The causal effects between parenthood and pet ownership aren’t so clear cut, however: many Millennials who adopt pets plan to have babies in the future, with some even considering pets as a trial run for potential children.
In most cases, adopting furry friends isn’t a zero-sum game. Millennials who might not be ready for the financial burden of parenthood may choose to adopt an animal in the meantime, whether they plan to have children in the future or not. They may also view pet ownership as more compatible with other short-term goals, like travel or career advancement.
Thinking about adopting a pet? Here’s what it will cost
Whereas other traditionally adult milestones, like purchasing a home, getting married, and starting a family, can seem frustratingly out of reach, pet ownership is a more affordable and accessible option for many Millennials.
That said, it still comes with a variety of costs and expenses, with an average of $681 for cats and $1,201 for dogs (CNBC) per year. If you’re thinking of adopting a furry friend, you should be sure that you’re in a good financial position to do so.
Are pets cheaper than children?
The short answer is that, yes, pets are much less expensive to raise than children. For young adults who may still be getting their footing financially, adopting a pet is a much lower-cost endeavor than choosing to have a child.
Raising a child can cost tens of thousands of dollars a year for a middle-class family, while caring for an animal may only cost a few hundred. Some of the most significant costs related to raising a child, like increased housing costs and food costs, won’t apply to a pet, since your furry friend doesn’t need their own bedroom and will be perfectly fine eating kibble.
Adoption fees
Adoption fees can vary widely depending on what type of animal you adopt, whether you get them from a breeder or a shelter, and where you live. Purebred dogs can cost hundreds of dollars, while adopting a senior cat from a shelter may cost as little as $25.
Supplies
You’ll need some basic supplies for your pet. If you’re adopting a dog, you’ll need:
Dog food and bowls.
A leash and harness.
A dog collar to start.
A dog crate (depending on the temperament of your new puppy).
Training supplies.
If you’re adopting a cat, you’ll need:
Cat food and bowls.
A litter box and cat litter.
Toys.
Cozy beds for them to sleep in.
Treats and snacks.
Make sure your pet is covered by pet insurance
Some of the most significant costs you’ll face as a pet owner include vet and health-related expenses. These can range from a few hundred dollars spent on vet visits and checkups each year, to thousands of dollars for emergency treatment.
Because pet health costs can be pricey for life-saving procedures, pet insurance is something you don’t want to skimp on when adopting a pet. This insurance helps to make sure that you’re covered if your pet has a medical emergency, and can save you money in the long run when it comes to expensive vet bills and related fees.
Lemonade pet insurance
Lemonade’s pet insurance covers diagnostics, procedures, medications, accidents, and illness. If you choose to add on additional wellness coverage, you’ll save on routine and preventative care like wellness exams, heartworm and fecal tests, bloodwork, and vaccines. So really, most treatments your pet requires should be covered through Lemonade!
Prices start at as low as $10 (yup, you heard that right!), and you can save an additional 10% if you also purchase home or renters insurance through Lemonade. The application process is super simple, and you can complete it online or through their mobile app, with no phone call or in-person visit required (perfect for phone-averse Millennials).
Another nice added bonus when it comes to Lemonade is that the company is a public benefit corporation. This means that they donate a portion of their profits to charities like the Progressive Animal Welfare Society and the Humane Society of the United States.
Embrace pet insurance
Embrace covers up to 90% back on vet costs, as well as coverage for accidents, illness, and preventative care.
One unique perk of Embrace, though, is that they reduce your deductible by $50 each year you don’t receive a claim payment. Unlike some other pet insurance providers, Embrace also automatically covers all your pet’s exam fees, which can be a nice benefit if you make frequent trips to the vet.
As for pre-existing conditions, Embrace does distinguish between curable and incurable conditions and will cover curable ones after your pet is symptom-free for 12 months (this is unique in the pet insurance industry).
Pumpkin pet insurance
Pumpkin offers pet insurance with perks like an optional preventative care package, up to 90% reimbursement, and no upper age limit. With Pumpkin, you’ll get coverage for everything from an annual wellness exam to lab tests and screenings for intestinal worms, heartworm, and tick diseases.
An insurance policy from Pumpkin also includes coverage for accidents and illnesses, diagnostics and treatment, prescription medicine, emergencies, surgeries, and specialized care. You can rest assured that your pet will receive all the care they need to stay healthy, without having to worry as much about the cost.
Speaking of cost – Pumpkin will offer big discounts for folks with large pet families who insure multiple pets.
Pumpkin Advertiser Disclosure: Pumpkin Pet Insurance policies do not cover pre-existing conditions. Waiting periods, annual deductible, co-insurance, benefit limits and exclusions may apply. For full terms, visit pumpkin.care/insurancepolicy. Products, discounts, and rates may vary and are subject to change. Pumpkin Insurance Services Inc. (“Pumpkin”) (NPN #19084749) is a licensed insurance agency, not an insurer. Insurance is underwritten by United States Fire Insurance Company (NAIC #21113, Morristown, NJ), a Crum & Forster Company and produced by Pumpkin. Pumpkin Preventive Essentials is not an insurance policy. It is offered as an optional add-on non-insurance benefit. Pumpkin is responsible for the product and administration. Pumpkin Preventive Essentials is not available in all states. For full terms, visit pumpkin.care/customeragreement.
Why Millennials may opt for pets over children
There’s no one-size-fits-all reason why anyone chooses to have children or adopt a pet. However, there are some widespread factors that may be contributing to the trend.
Financial instability
Thanks to the effects of the Great Recession, Millennials are likely to accumulate less wealth than previous generations, with real median household income increasing only slightly over the past several decades. Meanwhile, the costs of raising a child have skyrocketed. Middle-class families are projected to spend an average of $233,610 to raise a child born in 2015, with housing, food, and childcare making up a large portion of those costs.
For Millennials worried about affording basic expenses like rent and healthcare, adding a child to the mix can seem financially irresponsible, if not impossible. Many young people may prefer to wait to have kids until they’ve achieved enough financial stability to be able to provide for their children.
When compared with a price tag in the hundreds of thousands of dollars, pet ownership can seem downright affordable. And while pet owners may splurge on accessories for their animals or have to foot the occasional vet bill, pets remain much, much less expensive than children.
An uncertain future
Even for Millennials who are able to make ends meet and save a little for the future, starting a family can seem like a risky move during an uncertain time. According to a recent study by Morning Consult, 17% of Millennials without children are delaying starting a family because of the COVID-19 pandemic. 15% indicated that they are reconsidering having children at all.
For Millennials worried about the current pandemic, as well as other looming concerns like climate change and growing economic inequality, parenthood can appear particularly fraught. In the same study, 18% of Millennials listed the political and economic climate as a major reason why they haven’t had children, while 13% listed climate change. A significant 38% cited cost as a major reason for not having children.
In contrast, pet parenthood is way up since the start of the pandemic, with 50% of Millennials considering adopting or fostering a pet. In a stressful world full of unprecedented challenges, a furry friend can provide comfort, companionship, and purpose. Especially for young people who have experienced increased isolation as a result of the pandemic, adopting a pet can be a way to cope with loneliness and stress.
Changing cultural expectations
While it’s certainly true that it’s more expensive for Millenials to have children than for past generations, economic and political uncertainties aren’t the only reasons young people may be delaying becoming parents. While marriage and children might have been expected for earlier generations, Millennials may feel less pressure to follow a set path and achieve particular milestones by a certain age.
Instead, they may be more inclined to advance their careers, travel, or pursue personal goals. Young people who might not be ready for the responsibility of raising a child may look at pet parenthood as a low-stakes way to reap many of the same benefits of fulfillment and companionship, while also preparing to have a child in the future.
Summary
With more Millennials delaying kids or opting out of parenthood altogether, pet ownership has emerged as an alternative way to enjoy many of the rewards that come with starting a family. Owning pets isn’t exactly like becoming a parent, but the process does share some similarities: animals can provide comfort and companionship regardless of how many children you might have.
Most people adopt pets simply because it makes them happy and improves their quality of life. That’s definitely true in my case. It brightens my day to have my two little companions follow me from room to room, taking long naps in the sun and never leaving my side for long. For many people, owning pets is one of the unmitigated joys in life, and that’s something to celebrate, even during challenging times.
Some shows we watch for their excellence, some we enjoy for the action or the romance, and some are old favorites that we could watch again and again, no matter what. Whether it’s the usual day off from work, taking breaks from cooking, or wanting to be entertained any day, your go-to comfort show can keep you company. Here are 15 TV shows people have found comfort in and will never get tired of watching!
1. Malcolm in the Middle
Malcolm in the Middle is an American sitcom that first aired on January 9, 2000, with the final episode on May 14, 2006. The show has a total of 151 episodes from its seven seasons.
One person said, “One of the greatest gags in sitcom history because everything about the dialog, timing, and presentation was so perfect.”
Another person replied, “I love that my 13-year-old son and I can put on any episode at any time and sit and watch together and laugh together.”
One commenter added, “My absolute favorite comfort show! I’ve watched it through like 7-8 times already.”
2. The IT Crowd
The IT Crowd is another comfort show that will keep you laughing so hard your stomach hurts. It is a British sitcom that originally aired from 2006 to 2013. Created by Graham Linehan, the show follows the misadventures of the IT department of Reynholm Industries, a fictional British corporation.
One person stated, “Same! I can’t tell you how many times I’ve watched. I also recommended this show last week!”
Another Redditor agreed, “Yesssss.”
One user added, “That show is hilarious! My husband’s favorite!”
3. What We Do in the Shadows
What We Do in the Shadows, also known as WWDITS is an American horror mockumentary that first premiered on March 27, 2019. It’s another TV show that will keep its audience entertained.
“What We Do in the Shadows. Your ordinary human bartender never fails to deliver a good mood,” one person shared.
“I love WWDITS, but I wonder if the amount of murder that happens on the show and it still qualifying as a comfort show for us says a lot about our minds,” another added.
4. The Great British Bake Off
If you’re not into baking, no worries, because you can still enjoy the show. However, it will make your day even more beautiful if you’re into it. The Great British Bake Off is a British television baking competition that has been airing since 2010. The show, which is known as “The Great British Baking Show” in the United States, features amateur bakers from around the UK who compete in a series of challenges to be crowned the best baker.
One person said, “This is my Christmas break show, I’m not even sure why, but it makes the Christmas season even cozier.”
Another person replied, “I rewatched each season when I had Covid. I was too tired to decide what to watch next so I watched a whole season each day. It was the best show to watch during that time. It will always be my number 1 comfy show, too!”
5. Forensic Files
One person stated, “Good one. Only thing about the show that turns me off is how it recaps a few times per episode. But other than that it’s gold.”
Another commented, “It’s my ‘go to’ show any time I have hard time falling asleep. Idk what it is, but once I have it on, I’m out. I think it’s the narrator.”
Another commenter added, “I used to binge this for years when going to sleep or when not feeling well. Great narration from Peter Thomas.”
6. Arrested Development
Arrested Development is another American sitcom that you should watch if you haven’t yet. The show is a critically acclaimed American sitcom that originally aired from 2003 to 2006 on Fox, and was later revived for a fourth and fifth season by Netflix. The show, created by Mitchell Hurwitz, follows the dysfunctional Bluth family, who live in Orange County, California.
“I do all the chicken impressions to make my 1 y/o laugh. Holds up,” one commenter said.
“I keep sleeping on this show. I gotta watch it,” another person replied.
7. Chuck
One person stated, “Chuck. Perfect combo of nerd-comedy and procedural Spy show.” The second person agreed, “Yeah, I think that it was a good show.” Finally, the third added, “I watched this show from the premiere every single week. It has been my favorite show ever since. If I had something going on that evening, my Dad was sure to DVR it for me and I watched it as soon as I got home. Perfect all the way through.”
8. The Good Place
The Good Place is a critically acclaimed American comedy series that aired from 2016 to 2020. Created by Michael Schur, the show follows the afterlife adventures of Eleanor Shellstrop (Kristen Bell), a woman who discovers that she has been mistakenly sent to “The Good Place” after her death, despite having lived a less-than-moral life on Earth.
One person stated, “Sometimes you just gotta huck a Molotov cocktail at a drone and see what happens.”
Another Redditor replied, “Came here to post this! Such an amazing show.”
One user added, “I just rewatched it again and cried so hard the last episode like I always do.”
9. Parks and Recreation
Parks and Recreation is an American sitcom that aired from 2009 to 2015.
“Parks and Rec. I love all of those characters so much and love how it ends with all of them succeeding,” one person stated.
“I love this show so much I refuse to watch the last season so it will never end!” the second person replied.
10. It’s Always Sunny in Philadelphia
Created by Rob McElhenney, this American sitcom follows the misadventures of a group of friends who own and operate a bar in Philadelphia, Pennsylvania.
“Great pick, for anyone who likes the show and has not watched any of the bloopers I implore you to,” one person stated.
“It’s toooo good,” another person replied.
11. Taskmaster
“Love love love taskmaster. Missed the new years episode so must watch it back on 4od. My kids love watching the bleeped versions,” one person shared.
“Something about Joe Wilkinson on all fours pleading will just never not be funny,” one commenter added.
“The season where they had Noel Fielding was phenomenal. Even more surprising that Mel had the weirder take on tasks!” a third commenter replied.
12. King of the Hill
King of the Hill is an American animated sitcom from 1997 to 2010. Created by Mike Judge and Greg Daniels, the show follows the life of propane salesman Hank Hill (voiced by Mike Judge) and his family and friends in the fictional town of Arlen, Texas.
“I’m watching this as I type,” one person shared.
13. Brooklyn Nine-Nine
Brooklyn Nine-Nine is an American sitcom that aired from 2013 to 2021. Created by Dan Goor and Michael Schur, the show revolves around the detectives of the fictional 99th precinct of the NYPD in Brooklyn, New York.
One person stated, “Same here. This is my go to when I’m between shows but need to veg out for 20 minutes. My wife and I also watch all the Christmas episodes around the holidays.”
Another commenter replied, “Same! It’s so silly and I always feel great after watching it.”
14. Buffy the Vampire Slayer
Buffy the Vampire Slayer is an American supernatural television series that aired from 1997 to 2003. Created by Joss Whedon, the show follows the life of Buffy Summers (Sarah Michelle Gellar), a teenage girl who is chosen by fate to become the Slayer, a powerful warrior tasked with fighting against supernatural evil.
“Buffy for sure. The last few seasons where it got heavy,” one person said.
“Buffy is my favorite show but I could never watch it for comfort. I get too emotional when I watch it sometimes. It hits home a little too much,” the second person replied.
15. Bob’s Burgers
One person stated, “Bob’s Burgers was a way me and my wife connected during an extremely difficult financial time early in our marriage. Over the years it’s remained one of our favorite date night activites to watch the new episodes together. We cherish that show.”
Another user replied, “This show has helped my son through intense anxiety and panic. It has become our comfort show as a family. I love the Belchers.”
Another commenter added, “Same! So wholesome and hilarious.”
Source: Reddit.
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