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My wife and I are 59 and we plan to take an early retirement later this year. We also plan to move closer to our kids, across the US, to a more expensive area. We are very concerned about the home pri...
Can you believe they’re turning 60? The slacker kids are all grown up and could reinvent retirement as we know it....
Joined by tax guru Alexis Gallati, we have another Friends of WCI episode, where we answer questions about the benefits of hiring your spouse and children, the tax implications of hiring a nanny, and ...
“Cruising is the best way to travel with kids.” “Family travel is much easier on a cruise because you don’t have to continuously pack and unpack.” “Why fly when you...
Raising children is ultra-expensive, but there are ways that your kids can save you money when you're paying your income taxes. The post Child Tax Credit, Childcare Tax Credit, and Childcare Flexible ...
In this episode, we tackle Kay's questions about managing her IRA and Roth accounts in retirement. With significant assets, no LTC insurance, and children in differing financial circumstances, Kay wan...
My wife and I are 62 & 63 respectively. Our kids are grown, out of the house and employed. Our house is paid off, and we have no debt. For 20 years, my wife & I had level plan term life insura...
I've been trying to decide whether I should bite the bullet and pay for a financial advisor to look over my retirement plan. I'm 56m, spouse is 52f. No children, and no real need to leave an estate ex...
People who are caring for kids and aging parents at the same time can take a hit mentally and financially, so make sure you're tapping into all available help....
? Show Notes Welcome to 2025! In this episode, we kick off the new year with Tanya Nichols from Align Financial to discuss the unique considerations of retiring single with no children. As part of our...
If you set up a 529 education plan for your children or grandchildren that is no longer needed for education expenses, there is a new game in town....
If you own a business and have young children, here’s a tip with the potential to transfer wealth to the next generation tax-free....
I read a lot about retirees and their choice of home size, location, health care, etc. However, one of the most important aspects is maintaining independence. We have two children; one lives 30 minute...
Retired couples spend lots of time together. Without the distractions of work and raising kids, miscommunication can cause trouble. Here's a way to avoid that....
Aging parents can use threats, money and power plays to manipulate adult children. Recognize what this behavior means and what choices you can make to handle it....
If you are reading this, you probably need an estate plan. If you have children, live in states like California, you owe it to your family to have an estate plan that includes a revocable trust. One o...
The adult children put a lot of effort into finding a seniors' home for Mom. She got there and suddenly refused to enter. Learn about your options if this happens to you....
After Thanksgiving, it’s often time to talk about aging parents’ needs. Here are 7 questions adult children should discuss to ensure family caregiving plans are in place....
As we age, our parents may need more help and care. Are you prepared to be part of the sandwich generation, caring for your own children and your parents?...
Some parents can be very demanding. This is hugely stressful for adult children. Learn to set boundaries so you protect your own mental and physical health....
My brother and sister-in-law have decided to retire imminently and take this opportunity to go elsewhere. They are pretty well off, no kids, stock buys did really well for them, so they are not moving...
Hello, I'm hoping to get some counsel from the group on how to think about retirement, and when. I'm 57, married well, kids mostly launched - early 20's. We've saved enough that probably any additiona...
While most others are juggling their commute to work, their meeting schedule, what their kids are dealing with, what leftovers can be reheated quickly, all at a moment that adds a layer of anxiety to ...
Just because your family is wealthy doesn't mean life's all smooth sailing for your kids. When family dynamics are complicated, communication is key....
Out of all the things you could donate your hard-earned money to, giving to your child's school might not be at the top of your list. If your children attend a private grade school with sky-high tuiti...
James sits down with someone who’s financially set to retire—mortgage paid off, kids through college, and investments in place—but he’s still grappling with one big question: w...
Gen X is stuck in the middle of kids and aging parents, but retirement's not far off. Time to prioritize, with help from Nirvana, The Eagles and David Bowie....
As a parent, your top priority is to protect your children until they are old enough to fend for themselves. Protecting your children requires good health, being alive, having resources, self-defense ...
Our post-recital ice cream social was in full swing. The kids were running rampant, the leftover ice cream was slowly ... Read more...
Juggling kids, aging parents and work? No wonder you don't want to talk about your own retirement. But there are four key areas you should be discussing now....
Recently, I hit a major milestone in my journey to overcome what I like to call “frugality disease.” I spent $160 for an hour of private lessons for my two kids. In the past, I would&rsquo...
Some adult children, used to an aging parent's independence have trouble facing the need for a caregiver. It's expensive. The elder's assets need to be used to pay for it....
I will be doing that as I want to leave money to my kids. But what if I didn't have a kid or didn't care to leave money to anyone? IDK, I saved my entire life to have enough money to retire on. The th...
Were you one of those kids that used to always ask “How do you know?”. It can be a very useful question! This episode starts a two part series of asking “How Do You Know?” when...
The Supplemental Security Income program supports more than 1 million disabled children nationwide. Poor and low-income families receive monthly cash payments of up to $943 to help with their care. In...
After an earlier post about advice to give to kids about retirement, one of the most common answers was to be debt-free at retirement, including a mortgage. I got to thinking about that, and what that...
The IRS has issued final rules on taking required distributions from an inherited IRA, and warns that the reprieve on penalties for adult children and other non-spouse beneficiaries who don't comply w...
We are INCHING TOWARDS retirement. Quite often, since our kids are all grown we vacation when we want to vacation (sometimes one or two of them come, but we don't plan around them unless we're plannin...
The best parenting advice I ever got applies to all the thorniest issues we choose to address with our kids—sex, alcohol, drugs, rock ‘n’ roll, and yes, money....
In my conversations with my kids, one topic that frequently comes up is the idea of knowing when enough is enough. It’s a lesson that, while simple, holds profound significance for our happiness...
Raising kids is expensive, even if you're in a dual-income family. Here are a bunch of options for childcare for those who have high incomes. The post The Childcare Options for a High-Income Family ap...
Like most people, I enjoyed watching the Olympics. Some of us might even imagine our children becoming elite athletes one day. Unfortunately, becoming a great athlete is prohibitively expensive for mo...
I'm 60M, two kids still in high school, just bought a house to ride out the high school (and college? dunno) years. I have good income and decent-not-great retirement accounts for my age. My kids also...
No one wants to be told no. Of course that’s true. But parents forget it. Little kids spend the first few decades constantly told no. Why? It’s easy for parents to say no. We have a rule i...
I want to be a good dad and I try hard to be one. It’s not easy but I try to be present. I love my kids and my wife very much. Nearly my entire motivation for wanting to retire early is to have ...
I immigrated to the United States when I was six years old. For the first three years of my American ... Read more...
How do you begin to save for your children to go to college? With the rising costs of college education, is it worth the monetary commitment? Including tuition & fees, room & board, books &...
A friend of mine (age 60) who thought their job was secure was suddenly informed that it is not secure. This person still has children under 18 and their spouse is already retired. My friend asked me ...
Sixty-seven percent of parents expect to pay at least some of their children's higher…...
Sixty-seven percent of parents expect to pay at least some of their children's higher…...