Bringing children into the world is an extremely rewarding prospect, but it’s also an expensive one. As such, you’d think parents would struggle to retain money after introducing kids into the mix. But actually, 34% of parents say they started investing more money after having children, according to data from Merrill Lynch and Age Wave.
Many people I meet with ask me if they’ll still need life insurance after they retire. Their children are grown and have good jobs. They have put together a reasonably solid income plan with Social Security, pensions and annuities supplemented by investments and retirement accounts. Their surviving spouse will have plenty of money if they
Many people believe that having an estate plan simply means drafting a will or a trust. However, there is much more to include in your estate planning to make certain all of your assets are transferred seamlessly to your heirs upon your death. A successful estate plan also includes provisions allowing your family members to access or
Having the money talk is important to relationships, whether with your children, your parents, your spouse or anyone else dear to you. Is Junior maxing out his credit cards? Is your aging dad not keeping track of his bills? It’s in no one’s interest to let the problem roll on, unsolved. Diane Bourdo, president of
It’s important to teach kids the concept of money early on. Here’s how to do it. Sawitree Pamee / EyeEm via Getty Images In a world of credit cards, online banking, tax codes, investments and retirement plans, keeping up with money can be tough for adults, and even more so for kids. So, for the
The holiday season is one of my favorite times of the year. However, I understand how it can be quite stressful on someone’s finances due to all the shopping, decorating, events, and added expenses. The average household spends around $1,000 on Christmas. That’s a ton of money, but I think I’ve spent that much in