Tag: money

Plan For The Future

Financial planners often encourage clients to plan ahead, but what if the life change you are considering is divorce?  There are many factors to consider when separating, including: alimony, prenuptial agreements, business valuation, and other shared assets.  Deciding when to end the marriage on paper may be affected by a number or variables in the current tax climate.  Paul Sullivan for the New York Times Wealth Matters, sheds light on a number of these elements in his article, Should You Get a Divorce Now or Later?

Economists Study Current Wealth

In a new study this month, economists from the Federal Reserve Bank of St. Louis examined whether Americans are now wealthier or poorer than previous generations were at their age.

What they found may surprise you.  People born before 1960 are in a better financial position than their predecessors while those born after 1980 are in a much worse situation.  This generation is facing an array of money drains, such as student debt, auto loans, and credit card balances making it almost impossible for them to gain wealth quickly enough to match previous generations.

Eighties Babies Are Officially the Brokest Generation, Federal Reserve Study Concludes

 

Grandparent’s Gift

Are you interested in saving money for your grandchildren?  David LaMartina for ThinkAdvisor examines this subject in his article, Investing for Grandchildren (There are a few well-established ways advisors can help clients invest in their grandkids futures without putting client’s own retirements at risk.) In this article, he examines best practices for maintaining your own retirement and savings while setting aside specific funds for grandchildren in a variety of ways.  Everything from 529 plans to inventive uses of life insurance polices.

Saving Money Collectively

Just the other day, our garage door spring broke.  Putting out a request for suggestions on a Facebook group brought a great amount of feedback and ultimately a free, brand-new garage spring.  There are many of these sites available that can help you network with others who may have what you need or need what you’ve got.  Read more and learn about the best ways to save money in your community.   How to Save Money With the Help of Your Community

The New Pension Plan

With such a variety of retirement plans, many  current workers will not have an actual pension.  Ann Carrns, for the New York Times suggests a variety of ways to make your savings work for you in her article, No Pension? You Can ‘Pensionize’ Your Savings.

Her top recommendations include working longer, delaying Social Security payments, and, creating a budget for the amounts that you are required to withdraw from your retirement accounts.

ESG Portfolios Can Outperform Tradition

When investing, do you consider the company’s impact on the environment, production of harmful products, or questionable business practices?  Many would prefer to support groups with a positive mission but often feel that the returns are greater from so-called, “bad boy” companies.  This may not be true.  Chris Tomlinson for the Houston Chronicle sites financial data from two firms showing that focusing on ESG (environmental, social and governance factors), portfolios can actually outperform those loaded with stocks from corporations known for their cavalier business practices.

Good returns don’t require ‘bad’ investments

How To Become Rich

Here in Austin especially, there are plenty of wealthy people who don’t wear the latest fashions or drive the best cars, an indication that they may already know the ten “secrets,” Jocelyn Black Hodes offers in her article for MarketWatch.com, 10 things rich people know that you don’t.

Taxes?

What do you think about taxes?  Are they a good way to support public services? How do you vote when raising or lowering taxes is on the ballot?  What would you do without, say, your public library?

In the current anti-tax climate, some towns are finding it hard to produce enough money to keep even basic city services afloat.

Where Anti-Tax Fervor Means ‘All Services Will Cease’

Tips For Personal Finances When the Fed Hikes Rates

With the recent rise of the benchmark federal funds rate, Karla Bowsher for Money Talks News suggests three simple steps individuals can take to reduce the impact on their finances.

  1.  Look for a better credit card rate.
  2. Lock in a mortgage rate.
  3. Compare rates on savings (plans and funds).

This is the third hike in recent months following an eight year period where the rates were held in a range of zero to 0.25.  For more information on how to best utilize these tips, read the full article here, The Fed Hikes Rates Again: 3 Steps You Should Take Now.

Money Matters

Think about the last time you shook your head or rolled your eyes at another’s financial decisions.

Ever felt like your parents spent too much on one of your siblings?

Money has a special way of bringing out our sense of fairness and our frustrations.

Michelle Singletary for The Washington Post points out that we have two choices when dealing with our feelings about others money decisions, and both require acceptance.  Family and money: A lesson in accepting what you cannot change