Archive For: Estate planning
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February 28, 2018
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If you have a life insurance policy or IRA, you were required to name a beneficiary (the person or persons who directly inherit the account when you die). Most other financial accounts don’t have a beneficiary, but wait – maybe they do. Bank accounts and CDs can be made payable ... Read More
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July 11, 2017
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Wade Pfau, Professor of Retirement Income at the American College, came up with this idea and I want to pass it along to you. He notes that the goal of retirement planning is to create a balance between four “L’s”: Longevity: ensuring you don’t outlive your money (the #1 fear ... Read More
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October 25, 2016
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A recent Wall Street Journal article summarized what the writer sees as the major money mistakes by decades. For example, the writer states that: People in their 20’s invest too conservatively, Those in their 30’s live too large, People in their 40’s have big expenses for which they don’t plan, ... Read More
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August 3, 2016
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When pop music star Prince died in April, he did not have a will and there has been a battle over who inherits his $300 million dollar (or more) estate. Prince has a sister and five half-siblings. A court threw out 29 other claims against the estate last week and ... Read More
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September 15, 2015
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Summer is past and the kids are back in school. That makes the Fall a good time to review your personal financial plans and make some decisions about what’s next for you, your family and your money. Here is what we suggest to our clients now: Check your money mindset. ... Read More
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July 21, 2015
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This is not a typical “money matters” blog post; rather, this blog title was suggested by an article I saw about living a life without regret. Bronnie Ware is a palliative care nurse and recorded the thoughts of her dying patients. From their thoughts she wrote a book titled, “The ... Read More
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June 19, 2013
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Every once in a while, we help a new client with some aspect of their personal financial life and I’m struck by the value of our simple SmartMoney Rules™ system to achieve financial freedom. It happened again yesterday. Bob and Roberta (not their real names, of course), asked us to ... Read More
One of the challenges in the financial services industry is the many different names that advisors use to describe what they do. (Another major issues is the confusing array of initials advisors use to convey their supposed expertise, but that’s a topic for another day!). Various advisors describe what they ... Read More
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February 23, 2013
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In this post on the personal financial lessons from the popular PBS series “Downton Abbey,” I want to remind you of the seven SmartMoney Rules™ because they all apply to the characters of “Downton Abbey” and their predicaments. 1. Have an abundant money mindset. 2. Protect yourself first. 3. Have ... Read More
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January 31, 2013
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The latest episode of the PBS television series “Downton Abbey” provides yet another personal finance lesson. I had not planned on making this a regular subject for this blog, but “Downton Abbey” keeps providing such juicy personal finance lessons I can’t seem to help myself. WARNING: I AM ABOUT TO ... Read More
