Tag : retirement planning

Working From Home with Kids: 7 Tips to Make it Work

This unprecedented time has brought forth a slew of challenges, one of which has been glaring for many: working from home with kids is hard.


And with summer here and many summer activities cancelled, how do you balance your work life and home life? Here are 7 tips from Metroplex Wealth – your source for retirement planning near Dallas – on how to maximize this time:


Allow Flexibility

Your schedule may look different during this time. Many it’s not a traditional 9-5. Pay attention to when you have scheduled meetings and work around those times. Maybe your schedule is 2-hour blocks throughout the day. Give yourself flexibility to get some work done, then take the dog or kids out for a walk.


Create a Designated Workspace


For some working from home – full time or part time – is normal. For many, this experience has been new. Find a place in your home that can be a designated workspace, away from the noise where you can focus on the work at hand. Avoid setting up shop in the dining room or in a high traffic area of the home where distractions are plentiful.


Take Advantage of “Off Peak” Hours


Do you an early riser or a night owl? Take advantage of these “off peak” times when your family may be sleeping to get some extra work done. It’s amazing how productive you can be in the early hours of the day on a full night of sleep!


Set Daily Priorities


Prioritize your tasks in terms of things that must happen today – and things that can wait. Tackle the “must dos” first, then as you work down the list, you can begin working toward accomplishing more. Assuring the tasks that must get done are completed will relieve stress and give a sense of accomplishment.


Give Kids Additional Responsibility


Kids can do more than we often give them credit for. Teach them how to do common household chores, make their own breakfast, or get their own snacks. Delegating these common interruptions will give them a sense of accomplishment – and give you more time to get work done.


Dress Up your Workspace


It’s true that if we enjoy our workspace, we’re more productive and more likely to spend our time there. Do what you can to make your new workspace feel inviting and productive. Add greenery by moving a common houseplant to your desk from another area of the home. Buy a few simple organization bins or shelves to keep your supplies organized. As we work on retirement planning near Dallas from our home offices, we find that these little touches can go a long way to better productivity.


Give Yourself Grace


Working from home with kids isn’t easy. Some days are going to go well – others might involve your child in front a screen all day while you’re hope for a little quiet time to get your work done. Give yourself grace, knowing this season will pass and your kids will likely remember this time with fond memories of their time at home.


If you’re evaluating your retirement plans during this time and want to know how this current pandemic might be affecting your long-term financial goals, Metroplex Wealth would love to talk with you. Our team specializes in retirement planning near Dallas and can help with all of your financial planning needs.

How are You Paying for Healthcare Expenses in Retirement?

A recent study from Fidelity found that a newly retired couple at the age of 65 will need about $285,000 to cover healthcare expenses in retirement.

While many of our clients do an excellent job of planning for retirement, the idea of planning for healthcare expenses that high aren’t even on their radar. Most people think their healthcare expenses will be a lot less, but the above statistic is a reality for most.

Metroplex Wealth is passionate about helping you gain traction with a well-rounded estate planning approach that includes planning for healthcare expenses in retirement. Here are a few things to consider as you tackle the issue:


Medicare Has Its Limitations

If you’re assuming Medicare will pick up the bill for healthcare expenses in retirement, chances are, it won’t be a holistic approach. For example, Medicare is not equipped to cover the costs of prescription drugs that can be very expensive if it’s lacking the Medicare Part D policy. You’ll also have limitations on vision and dental benefits, depending on the plan. Medicare participants can go into retirement expecting the pay deductibles and out-of-pocket expenses for things not covered.

Options for Pre-Retirees

If you haven’t yet retired and are looking to the future, there are some ways to plan for healthcare expenses and protect your hard-earned assets. For many clients, we recommend taking full advantage of an HSA, or Health Savings Account, because of its tax-deductible contributions, tax-deferred growth, and tax-free withdrawals. Long term care insurance is another great option, but pricey. It will help cover living expenses for extended care without draining your nest egg. Younger couples may get better rates for buying into this program earlier or coupling it with a life insurance policy.

If you’re interested in exploring retirement healthcare planning options that are right for you, call us at Metroplex Wealth in Southlake, Texas today for a consultation.