Coming together at 50-plus is different from getting married in your 20s, particularly when it comes to money. "You've had a lifetime of solidifying your money beliefs" and behaviors, says Janet Stanzak, president of the Financial Planning Association. These are some ways to smooth the transition if you're tying the…
Financial planner Joe Pitzl, 34, says Millennials like himself have a different way of absorbing information than their parents and grandparents, and as a result planners in that age group take a more collaborative approach. As reported in a recent USA Today article, titled “For Millennials goal is financial freedom,”…
Although some couples remain unmarried to protect their estates, that strategy backfires if you end up paying estate taxes. If you choose not to marry, you and your partner need to educate yourselves on your estate planning and retirement options. If you’re married, you’re able to inherit an unlimited amount…
"The costliest errors are ones we make ourselves, often without realizing how much damage we're doing." "Estate planning is intertwined with the financial plan," a newsmax.com article explained, and it’s no secret that many individuals fail to prepare for retirement. When doing an estate plan, the article offers some sound…
"If you are looking at Baby Boomers, they are looking at what their cash flow will be in retirement," says Carol Kroch, managing director, wealth and philanthropic planning at Wilmington Trust in Wilmington, Del. "Can they do the things they want to do? Can they retire? Can they keep the…
Here are a few of the most common mistakes we’ve seen seniors make in regard to their retirement planning. Sometimes knowing what NOT to do is just as important as knowing what to do. So it is with retirement planning. Physician’s Money Digest lists some of the most common mistakes…
When Detroit businessman Dick E. Morand died in 1977, he ensured that his estate would continue giving for decades after his death via a charitable remainder trust. Morand died at the age of 87. He was founder and owner of D.E. Machinery Company and was vice president of Addy-Morand Machinery…
Now is the time for small business owners to evaluate their year-end retirement planning while building a retirement budget line item for next year. A recent article in The (Great Falls MT) Prairie Star, titled “Review estate, tax and retirement planning issues now,” argues that a farm or ranch operation…
Sometimes, a loved one’s estate may include debt. Do you know what to do should if you are the spouse or heir that inherits debt? If you aren’t sure what to do with a loved one’s debts after they pass – or what to tell others to do with your…
Individual investor Ronald Read has made the news because his personal investing strategy relied heavily on paper stock certificates. Today, investment advisors encourage individual investors to convert stock certificates to electronic form and consolidate stocks with a professionals so that heirs will have an accurate record of ownership. In addition…