Submitted by Lewis J. Walker on Mon, 06/17/2013 - 12:00pm
If you fly high above the earth in a jetliner, you can get a perspective that is at once spiritual and practical. It can inspire you to write an ethical will, a document that sets down what is important to you, far beyond financial matters.
Submitted by Ara Oghoorian on Thu, 06/13/2013 - 12:00pm
I often see clients who make good money, but can’t seem to save. Their downfall: not knowing where the money goes.
Frittering money away is one of the top concerns when making a financial plan. Once folks feel like they make enough money to not worry about what they do with it, they set themselves up for disaster down the road.
Submitted by Ara Oghoorian on Tue, 06/11/2013 - 3:00pm
Bitcoin, the digital crypto-currency that doesn’t have the backing of any government, is becoming a mainstream interest, and many investors are hoping to capitalize on its appreciation. While this is a fascinating topic, it is not a wise bet for your retirement savings.
Submitted by Rick Kahler on Fri, 06/07/2013 - 9:00am
The middle class. Marketers target it. Politicians champion it. Economists talk about it. Most of us consider ourselves part of it. But no one can define it. And that poses a challenge for financial planning.
When I ask for a clear definition, I do not find anybody who really can tell me what "middle class" is. I recently posted on Twitter that $90,000 was a middle-class household income and that it would take a nest egg of $3 million to generate that income in retirement.
Submitted by Jonathan DeYoe on Wed, 05/29/2013 - 12:00pm
Capitalism is the best economic system in practice for charitable giving because it is the only one that gives us the freedom to allocate our capital as we see fit. But so many people equate capitalism with greed and think that the profit motive is not compatible with giving. This is a wrongheaded notion.
Submitted by Rick Kahler on Tue, 05/28/2013 - 12:00pm
Too often, the emotional problems surrounding our finances get ignored. "It's not about the money." This saying is almost a cliché among financial planners and therapists who help clients address money’s emotional aspects.
Submitted by Jeff Rose on Wed, 05/22/2013 - 3:00pm
A no-brainer: Participating in high-risk activities makes getting cheap life insurance very hard. Yet insurers don’t just penalize base jumpers, skydivers or deep-water scuba divers. They also define high risk as elevated blood pressure, diabetes, sleep apnea or a host of other medical conditions. If that describes you, how can you get insured?
Submitted by Jeff Rose on Mon, 05/13/2013 - 3:00pm
Many parents want to give their children assets to call their own, but kids are usually not the most level-headed stewards of wealth. This is why many choose to give their children custodial accounts that give the children ownership, but not total control over the gift.
If you’re scared that your children might blow through their savings, here’s what you need to know about custodial account rules.