Making Cents: What Is Volatility And Why Does It Matter
Unless all of your savings are stored in guaranteed rate instruments like bank accounts, you have probably felt the consequences of volatility somewhere. Volatility in the investment world attempts to measure the stability or susceptibility of your investment to sudden changes in value. These sudden changes cut both ways. Volatility can cause the value of…
Making Cents: Money Is The Root Of Many Family Problems
A common goal for most parents and grandparents is family harmony. They hope that the family will stay close and love each other beyond their lifetimes and for generations to come. Unfortunately, these dreams often fail to come true through a combination of their naivety, poor planning and weak communication. The reality is that you don’t…
The Four Corners Of The USA
While I enjoy travelling abroad, I am recently reminded of the beauty and grace of the many places to visit in the USA. A business trip combined with a little pleasure, I have had the opportunity to touch all four corners of the USA. The itinerary over a 4-week+ period went like this. Boston –…
Making Cents: Protecting Your Assets For The Next Generation
Many people are more concerned about preserving their wealth for the next generation than they are about their own well-being or bucket list. Hat’s off to you paternalistic savers – your next generation would thank you if they only knew how you really feel. Many make gifts that they can’t afford and avoid spending on…
Making Cents: Is It Best To Make Gifts Now Or Transfer Property At Death
Naturally, this answer is going to be different for everyone, so let me talk about the common mistakes and pitfalls of either bequeathing property at death or gifting while you are alive. Starting with transfers during your lifetime, one of the biggest issues that we see often surrounds the ultimate income tax consequences with lifetime…
Making Cents: How to talk to Elderly Loved Ones about their Estate Planning
In many ways, this is one of the most important issues that I see, and one of the least frequently discussed within the family ranks. The topic is family awareness of the aging parents’ financial situation and estate plan. All too often adult children are surprised at the poor planning that their parents did to…
Jenn Incoming and Outgoing!
As you may already know, our beloved Jenn Kovalski is having her second child in November. She, John and her almost 2-year-old daughter Tessa eagerly await the arrival of #2. There is a possibility that this new child will be born on the birthday of her older sister, Tessa. Only time will tell. Effective the…
Making Cents: How Close Should You Watch Your Plans?
A financial plan is just that, a plan to help attain the financial freedoms you want while taking precautions so that the unthinkable doesn’t sink your ship. This requires diligent coordination of many moving parts. Those parts are, but not limited to, cash flow, inflation, earnings, investment performance, tax laws, estate plans, insurance plans, family…
Making Cents: Beneficiary Choices Need to be Reviewed
With certain assets, it doesn’t matter what your will says. Upon your passing, these assets will flow to whomever you elect as the beneficiary of each individual account. Beneficiary elections are made for retirement accounts and insurance contracts. Typically, these beneficiary elections are made when you establish the account. For certain retirement accounts, these elections may be…
And Then There Were 7
A little over 5 years ago, I wrote to you with excitement about expecting our first grandchild. Everything about that has been exciting including today’s first day of kindergarten. And while she was growing, she had the pleasure of witnessing the birth of two brothers and four cousins. For those good at math, yes, that…