Archive by Author

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
0
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
0
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.
0
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.
1
The 411 on 529s

The 411 on 529s

I was at a birthday party for a friend of my son a few weeks ago and the topic of discussion among parents turned to saving for college. Higher education has always been costly and, historically, considered well worth the price. Despite savings, grants and scholarships, Millennials and their parents (who, for the most part, are Baby Boomers) bore the brunt of those escalating costs in real time. Now the most educated – and debt-burdened – generation in American history is beginning to have children of its own. Possibly, the only way Millennials are going to avoid prolonging the education loan cycle is to start saving for their children’s education the minute they are born.
0