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Between the Generations

Between the Generations

Some intersections are more treacherous than others – like the place where aging parents and family finances meet. Talking about money is rarely easy; talking to our parents about money – and aging – is something almost everyone would rather avoid. And yet avoiding it only postpones any potential problems; it won’t make them go away. In fact, putting off the conversation may be the path of least resistance, but it may be the wrong way to go.
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Donor’s Remorse

Donor’s Remorse

Anticipating an end to the current gift and estate tax exclusions, some wealthy individuals made sizable monetary gifts before the end of 2012. But, as Private Wealth Magazine reports, before the ink was dry on the donation documents, the American Taxpayer Relief Act of 2012 was passed. It retained many of the same exclusion levels (the amounts exempt from taxes) as the previous law. Oops. Now, some of those same donors are seeing how they can reverse their gifts.
Filed in: Giving
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The Wisdom of Crowdfunding

The Wisdom of Crowdfunding

Reactions to the crowdfunding phenomenon of such platforms as Kickstarter move between awe and suspicion. People are, by turns, amazed that projects get funds from strangers with no offer of repayment or equity and are suspicious. The fact is, much like charitable giving, crowdfunding is successful in spite of the conventional wisdom of supply and demand (getting something in return for money) being turned on its head. According to a recent New York Times article, that is because the supply-and-demand paradigm doesn’t apply since return on investment is not the motivation.
Filed in: Giving
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Between a Rock and a Hard Place

Between a Rock and a Hard Place

The Great Recession has been a challenging time to be a young person, as can be seen through the prism of two recent New York Times articles. In “Battling College Costs, a Paycheck at a Time,” the writer explains that although many students have jobs while in college, the escalating cost of tuition makes it almost impossible for them to work their way through school in the customary four – or even five – years it takes to get a degree. The vast majority will have to take out loans. Or stop attending.
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The Road Ahead is Booming

The Road Ahead is Booming

Each day 8,000 or so members of the Baby Boom generation turn 65. And it will go on for another 18 years. But just because these people have hit retirement age, it doesn’t necessarily mean that they are going to retire. Baby Boomers are looking at this crossroads differently than they did two or three decades ago. Gone are the days when this generation followed the well-carved-out path of starting a vineyard and spending their days in rocking chairs. Now, they are interested in transitioning to other jobs or becoming consultants instead of retiring.
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