When my mother died without a will, I learned a big lesson about money management as an African American

Angie Chatman •
Business Insider
Portrait Of Stylish Young Woman Smiling

The most valuable of my mother’s assets was her home — a modest, 1,225 square-foot bungalow on Chicago’s south side with three bedrooms, a single bath, a large backyard, and a one-car garage. My mother bought the house in 1986 for $55,000, the equivalent of $123,000 today. She paid off the mortgage in 2011, which

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A wealth manager to millionaires says parents who leave their kids money often miss the most important step

Tanza Loudenback •
Business Insider
African young mom listening teen daughter sitting on couch together

Michael Farrell, a wealth manager to millionaires, believes there’s much more to inheritance than handing over money. Farrell is managing director of a wealth management firm whose typical client is worth at least $10 million. “We tend to work with a lot of first-generation wealth creators. They have a bit of a blue-collar mentality about their

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4 ways to improve your estate plan

Jamie Hopkins •
Forbes
4 Ways To Improve Your Estate Plan

Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. But it’s not just freewheeling entertainers. Abraham Lincoln—a lawyer by trade—didn’t have one either, which leads me to

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The first thing to do if you want to have a baby, according to a financial planner

Anna Baluch •
Business Insider
The first thing to do if you want to have a baby, according to a financial planner

If you’d like to become a parent in the near future, there is one financial move you can’t afford not to make. According to Ryan Cole, certified financial planner and private wealth advisor in San Francisco, that move is buying life insurance. Generally, you need life insurance if someone else is depending on your income,

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