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To prepare your children to take over your family's financial legacy, teach them about money as if they were interns on the path to senior management....
Every business, no matter how large or small, can be compared to a lemonade stand. This simple concept has been the foundation for teaching my son, who is now 7 years old, about money. Ever since he w...
Here are eight reasons why your kids should be involved with your estate planning meetings (and one potential downside to it). The post Why You Should Bring Your Kids into Your Estate Planning Meeting...
My wife and I are in our mid-60's and retired. We (supposedly ;-) have enough money to last us through our lifespans, We do not have any children or close younger relatives and we both have parents wh...
There's a classic saying, “Youth is wasted on the young.” It's meant to convey that those who are young lack the perspective to appreciate all the advantages of youth and thus take it for ...
Millennials are saying only one or none to having children - what might declining birth rates mean for their retirement planning and living in old age?...
Curious how those of you who are retired or looking at retirement navigate having children under 18 in your household. For example, I have a patient who is on the cusp of retirement who is now looking...
Today, we answer your questions about rolling over an HSA, when to withdraw from your HSA, whether a UTMA or custodial Roth IRA is better for your kids, if it is a good idea to open a solo 401(k) for ...
Honestly I wasn't sure of the best place to ask such a thing, but logic brought me here because the demographic of retiree is the one who has the wisdom to answer this question. Maybe you've been thro...
Ever wondered how to leave a lasting legacy for your kids without the taxman taking a huge chunk? FiPhysician’s Dr. ... Read more...
I am a 70-year-old retired male, single with no children, currently living in the Midwest. I’ve spent most of my life living out West and am used to living single. I moved back to my hometown in...
If you don’t have children or a support system of close friends nearby, you face some special challenges. For peace of mind, answer these seven questions....
Understanding the fundamentals of personal finance is pivotal for kids to successfully launch into the world of adulting. Money skills are necessary to navigate effectively through everything from lif...
I’m about 24 months out from ‘retirement’ (e.g, working for someone else). I have a decent salary, kids are independent, and no debt other than a mortgage. When I retire, downsizing ...
About 11 percent of the children in poor families are living with adults who receive Social Security’s retirement, disability, or supplemental cash benefits. The children are often Black or Hisp...
I retired last year at 60. My wife plans on retiring next April at 60 as well. We’ve done ok in life relatively speaking. We will be able to buy a retirement home and live near our kids fairly c...
Boomers may not be as healthy as their parents were at the same age. This points to the need for long term care. The burden can fall on family to give that care....
Fitness is an integral part of a healthy lifestyle. We need to exercise to stay healthy. However, life often gets in the way. Most of us are busy with work, kids, chores, social gatherings, side hustl...
Here are some general considerations to ensure the gift of assets to your kids will not negatively affect your financial future....
Unlike buying a primary residence, where I believe you should buy one as soon as you can afford to, purchasing a vacation property is a different matter. Nobody needs to buy a vacation property; it's ...
There are strategies to keep your kids in school. Start by having a frank talk with your financial aid officer....
Parents can see the positive impact of their giving through tax arbitrage, giving cash (within limits) or directly paying for school or medical expenses....
Sometimes, divvying things up equally means one child might end up with less because of tax implications. Here’s how to avoid that....
Family discussions about money are important in educating children about financial concepts and the family’s legacy....
If you’d prefer that your estate not pay more taxes than necessary, then these strategies are for you....
Seven million low-income Americans who would qualify for SNAP food stamps are not receiving them. And millions have fallen out of their state’s Medicaid coverage or Children’s Health Insur...
Parents often feel compelled to help their kids pay for college, but when that could result in you moving in with them later, you should put your savings first....
How many of you help fund private elementary and secondary school for grand children or maybe even children? This is something I never thought would be a consideration, but we all know schools have ch...
So I have set my retirement date! I am turning 60 this year and plan to retire at 65. March 15, 2030. I choose this date as I want my kids to be fully financially independent. My son is in grad school...
THANK YOU AARP FOR DOING THIS ARTICLE AND HATS OFF TO THESE PARENTS ??? For hundreds of thousands of retirees, focus on caring for kids ‘is just life’. By Jon Marcus, AARP. Published March...
B.O.S.S. Retirement Solutions is proud to sponsor the Treasure Valley Silver Awards By:Idahonews.com BOISE, Idaho (CBS2) —90-year-old Mary Lou Hay says the key to a happy retirement is staying a...
I am 63. I just learned the term "Elder Orphan". I'm 63. Seems like I'm headed to be one. Yes is scares me. :-( Got to face that I suppose. So. What to do? Where to go? What town? What living situatio...
Posting this here because we are all of that age where we have older kids. What did you give your sons for college graduation? submitted by /u/Aggressive-Coconut0[visit reddit] [comments]...
Will kids ruin your plan to FIRE? (Financial Independence Retire Early) Kids can be expensive, but don’t let that stop you. They might change your plan a bit, but FIRE won’t be out of reac...
My wife and I have no kids or family. What should we be thinking about and planning differently than if one had a big family? We have a will and the packet that goes along with that. I was hoping to f...
Background: our house should be paid off by the time we retire. We have raised a pack of kids, one has boomeranged back and the youngest is still in college. The others are out on their own. We are re...
To gauge how much the federal government’s COVID assistance helped the nation’s disadvantaged children, consider what happened after the relief stopped. Millions of low-income children hav...
The U.S. Census Bureau projects that by 2034, there will be more senior citizens than children for the first time in American history....
I'd like to learn from those already retired and have adult children with special needs. I'm heading towards 64 and am still working, but the retirement bug has bit. My daughter is 32 and has Downs Sy...
We've got no kids and I'm not particularly close to my niece and nephew, having spent all of about 20 hours with the since they were born. My partner and I do need to make a will because it's irrespon...
[Editor's Note: In 2023-24, our goal is to give a free copy of The White Coat Investor's Guide for Students to every first-year student who’s in the medical field. But we can’t do it alone...
Happy new year everyone! For 2024, my theme of the year is, “One last year of intense focus.” This marks my 15th year running Financial Samurai, coinciding with both my children starting f...
My younger son was our problem child and we spent thousands bailing him out of his poor decisions and scrapes with the law. He is now married and has 3 kids. His wife doesn’t work although there...
I’ve read a lot of sentiment here about dying broke or that one’s children are doing well and can take care of themselves. I’d like to add a wrinkle. My mother’s family left he...
Abstract Children’s participation in the federal Supplemental Security Income (SSI) program has declined substantially over the past decade. Many children with disabilities might be eligible for...
I'm curious to see how many help their adult children out financially and with what. For instance, I help my youngest, age 24 out with rent and a couple bills right now....It's a pretty big little chu...
[Editor's Note: For a doctor or high earner who is looking to maximize convenience while saving money and earning free travel, it makes perfect sense to find the right credit card. If you need help fi...
James walks through a framework of how you ensure that your legacy goals include more than just leaving a chunk of money to your kids when you're gone. He explains the key concepts that can help your ...
I'm looking for any experiences from folks who retired close to the time that their kids were in or had just graduated from college. I have one who is a freshman and another who will start in a year; ...
Me and my wife both 67 I've worked full time her a few years as we raised 5 kids. Was hard to save in those early years but last few have been great. Managed to have 600k in 401k 600k already taxed ea...