Archive : Family Financial Planning

RSS feed
Co-signing an Education Loan Can Come Back to Haunt You

Co-signing an Education Loan Can Come Back to Haunt You

About a month ago I wrote a post on the growing number of retirees who are getting a nasty shock on their Social Security checks: the government is taking as much as $1000 out of each benefit payment to repay delinquent student loans.
0
Baby, That’s a Lot of Money Part 2

Baby, That’s a Lot of Money Part 2

I recently posted about the U.S. Department of Agriculture’s estimate of the costs associated with raising a child born in 2013; the average was close to a quarter of a million dollars, not including college. According to an article in usatoday.com, parents may need to spend as much as $245,340 to raise a child. But what if you had invested that same amount over 18 years (at $13,630 a year), at an average annual return of 8.00%, it could grow to a little over $600,000.
0
A Look at Counterproductive Financial Metrics

A Look at Counterproductive Financial Metrics

I’m an advocate of taking charge of your own financial security. But that’s not the same thing as suggesting that you do everything yourself. You don’t know what you don’t know. And when you don’t know something—and you’re intelligent—sometimes you’ll figure out an answer that, while it seems like it should be correct, isn’t. A recent “Your Money” column in the New York Times entitled “6 New Ways to Measure Your Financial Goals” got me thinking about some truths that are seldom brought out into the light about misconceptions in investment and finances.
0
Financial Services Going Mobile

Financial Services Going Mobile

If it seems that everyone you know age 33 and younger —family, friends and colleagues—always seem to have their mobile device, usually a smartphone, lodged firmly in their hand, you are not imagining things. A recent survey of Canadians by BMO Bank of Montreal confirms that Milliennials, people born between 1981 and 2001, consider their mobile devices to be indispensable to the point that about three-quarters of those asked would feel lost without them.
0
Where There’s a Will, There Should Also Be a Lawyer

Where There’s a Will, There Should Also Be a Lawyer

As if planning for when you are no longer alive isn’t uncomfortable enough, it also often involves spending time—and money—with an attorney. Which is one reason DIY Wills, often downloaded from the Internet, seem like such a good solution. And I’m not saying they can’t be just that; the problem, however, is one of ambiguity. And if something is ambiguous, you aren’t going to be around to clarify.
0