Category - Family Finances

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Ten Principles for Teaching Children about Money
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Ready to invest in real estate? Take a close look at your margins
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April 29, 2016 is a new Social Security deadline. Does it apply to you?
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Six Creative Beneficiary Designation Ideas
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Find ways to save money when you fund College education

Ten Principles for Teaching Children about Money

Here are ten principles for teaching children about money:

1. Talk about money.

When money is involved, you have a chance to teach your children the values and analysis behind your actions. Money should not be your only topic of discussion, but talking about it will communicate your wisdom and values to your children. Every purchase, investment, or donation can be a time to teach your children something about your values.

2. Talk openly.

Parents make a mistake when they keep information from their children. Children learn through experience. For example, the experience of what their family earns and what …

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Ready to invest in real estate? Take a close look at your margins

We’ve all heard the mantra: “Location, location, location!” When buying investment property, a great location is often considered the #1 rule for success. But as we’ve all seen in that late night, drag-out game of Monopoly, location certainly isn’t the only factor at play.

A decade ago, we all learned more than we wanted to know about subprime mortgages. People were investing money they didn’t have using loans they should never have been given. The stage was set for the perfect storm. Home prices started falling, refinancing became difficult (especially with historically high debt-income ratios), and those previously attractive adjustable-rate …

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April 29, 2016 is a new Social Security deadline. Does it apply to you?

A little know congressional act which became law late in 2015 affects some of the most popular Social Security strategies and may directly impact you.   You need to understand whether or not the new rules apply to your situation and whether you need to take action with Social Security by the April 29th deadline.

The rule changes to Social Security are the result of the PATH Act of 2015, which was enacted on Dec. 17th, 2015.  This Congressional Act was not focused on Social Security but nevertheless, impacted many individuals and couples because of a few key …

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Six Creative Beneficiary Designation Ideas

The majority of beneficiary designations are straightforward. Spouses leave retirement accounts primarily to each other and contingently divided among their children. If their children have not yet reached the age of majority, a trust may be involved.

For many, these simple and common beneficiary designations are the perfect fit for their wishes. For others, they want something more but haven’t yet thought of it. Here are 6 beneficiary designation ideas to inspire your estate planning creativity.

1. Use per stirpes to include your children’s families.

If you set your contingent beneficiary designations to divide your estate between your children, you …

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Find ways to save money when you fund College education

It is a well-known fact that funding a child’s college education costs tremendous amounts of money these days. No denial about that. I know it first-hand having funded college education for three children in the last eight years! In fact, that is the reason why we all should carefully examine any whichever method that helps us reduce these costs. So, the question is: is there a way you can save money in the process? Thanks to tax laws (and some very recent tax deals), yes you can. While the finest details are in IRS Publication 970, let me try… Read More

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