Inheritance questions kids are afraid to ask
Talking about money is taboo in the US. If you don’t believe me, next time you’re at a social gathering ask every you’re introduced to these two questions: “What was your taxable income last year?” and...
View ArticleInheritance questions parents are afraid to answer
Last week’s column explored three fears that stop adult children from talking with parents about their estate plans, even though such conversations could greatly benefit both generations. These are:...
View ArticleBaby boomer retirement crisis not a sudden event
“The world braces for retirement crisis.” This headline caught my attention because of its tone of near-panic. It implied that the pending retirement crises was like a hurricane or other natural...
View ArticleGive sinking financial ship a chance to come back up
When should you abandon a sinking financial ship? Not merely because it’s being tossed by stormy seas. I was reminded of this at a recent gathering of financial advisors. One participant noted that...
View ArticleFund your retirement now and save your kids money later
) I recently had the opportunity to share an evening out with some friends, new parents with six-month-old twins. The conversation centered on birthing, breastfeeding, and burping. One topic we didn’t...
View ArticleEither IRA or 401(k) a good choice for retirement saving
Which is the better choice for retirement saving, an IRA or a 401(k)? And what’s the difference between the two? Either an IRA (Individual Retirement Account/Arrangement) or a 401(k) plan is a great...
View ArticleThe high cost of marriage
“Two can live as cheaply as one.” This old saying is mostly true. However, when it comes to death, divorce, and taxes, two are probably better off financially if they don’t marry. Intentionally or not,...
View ArticleEqual inheritances not always fair
In estate planning, “equal” isn’t necessarily the same as “fair”. I rarely see an estate plan that does not treat children equally. When I do see inequality, it’s usually because a parent is estranged...
View ArticleInvesting Money In Happiness
It turns out money can buy happiness, after all—sometimes. Having a good income and the security of money invested for the future don’t insure happiness, of course. They do, however, give us a...
View ArticleThe Mirage of Unbiased Financial Advice
Is your financial advisor biased? To find out, just check two things: Is the advisor human? Is he or she breathing? If so, the advisor is biased. Even if someone created a supposedly objective robotic...
View ArticleEstate Planning for Adult Children with Special Needs
The heart of estate planning, for many of us, comes down to one issue: taking care of family. We do our best to make decisions that we hope will be right for surviving spouses and children. Such...
View ArticleThe College Credit Bubble
The latest bubble forming on the horizon isn’t in real estate or stocks. It’s the cost of a college education, up four times the rate of inflation since 1985—twice as much as health care costs. What’s...
View ArticlePreparing for Retirement When It’s Too Late to Start Early
Rick Kahler, of Kahler Financial Group, is a Fee Only Financial Planner out of Rapid City, South Dakota. This article originally appeared in the November 14th, 2011 edition of his well known...
View ArticleWhat Do Future Millionaires Drive?
Have you ever seen a Super Bowl ad touting how much money you could save if you bought something second-hand? Of course not. There’s not a lot of encouragement in our culture to buy used stuff. Even...
View ArticleDire Emails About New Medicare Surtax Have It Wrong
Ronald Reagan was noted for saying, “Trust but verify.” And that was before Al Gore invented the Internet. When it comes to believing forwarded emails with dire warnings, it’s a good idea to go even...
View ArticleOnce Earned, Twice Taxed
The recent discussion of the “Buffett Rule” proposal to increase taxes on the wealthy has focused attention on U. S. tax rates. It’s giving Americans a chance to better understand our tax policy and...
View ArticleLook at Money Scripts To Avoid Whitney Houston Estate Planning Mistakes
Since the death of singer Whitney Houston, I’ve seen several articles from attorneys and financial advisors about the errors in her estate planning. They have summarized three areas where it was badly...
View ArticleTenant Improvements Can Be Good Investment
Recently I read a news story about a small business owner whose landlord was not renewing her lease. A chain restaurant was buying the building and intended to raze it. The business owner was...
View ArticleWill Retirement Be a Bust for Boomers?
If you’re a Baby Boomer, or your parents are, here’s a ray of sunshine to brighten your day: Boomers have so severely underfunded their retirements that Congress may turn to their children to bail them...
View ArticleBuild Wealth With a Career, Not “The Job
What does “getting rich” look like? Sometimes it looks like a desk in a nice office with a business, medical, or law school diploma on the wall. To a small minority of wealthy people, it looks like an...
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