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You Are Your Legacy

You Are Your Legacy

“Be the change you wish to see in the world.” The quote is attributed to Ghandi in his fight for non-violent independence. But to me, it is an inspiration for a parenting style that I very strongly believe in. Whatever you want your children to be, you must be those things first. Children learn in a number of ways. One of the main methods of learning is by modeling. Your children watch what you and other adults around them do. They, then, copy or “model” the behavior. It’s why a child will mime Mom putting on lipstick or Dad shaving.
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Five Legacy-Planning Mistakes Women Make

Five Legacy-Planning Mistakes Women Make

Women are increasingly taking control of household financial management. According to the RBC 2017 Wealth Transfer Report, 98% of high net worth women (households with investible income in excess of $4 million) are either the sole or joint decision-maker on daily banking. According to a U.S Trust survey, women currently control approximately $14 trillion in assets and that amount is expected to increase to $20 trillion by 2020. Yet, when it comes to estate and legacy planning, women seem to be lagging behind.
Filed in: financial planning
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The Changing Dynamics in Life Insurance

The Changing Dynamics in Life Insurance

Life insurance is still an extremely valuable and viable safety net for protecting a financial future. But consumers and the marketplace have changed. And the surest way to kill life insurance is to stick to the status quo. As the leading edge of the millennial population group ages, they are getting married, buying homes and having children – the typical top triggers for life insurance shopping. As a result, there has been an increase in life insurance sales in this market segment – up 48% since 2010 according to LIMRA’s 2016 Household Trends in Life Insurance Ownership Study.
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The Two-Marshmallow Advantage

The Two-Marshmallow Advantage

For the past fifty years, people have been talking about the “marshmallow test.” Investment companies use it to encourage retirement planning. There’s a Ted.com video about it. And even Sesame Street’s Cookie Monster was put to the test – with cookies, of course. It all started back in the early 1960s when Stanford psychologist Dr. Walter Mischel devised an experiment to test self-control in preschoolers. The test was simple. The child was brought into a room in which a treat – a marshmallow – sat on a table. The child was then given the choice of eating the treat whenever he or she wanted or, if the child could hold out until the researcher came back into the room, the child would get two treats (marshmallows).
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Raising Money-Savvy Kids

Raising Money-Savvy Kids

The issue of teaching children financial responsibility has become so important that a few states are now requiring students at public schools to take a personal finance class before they graduate.   These classes are designed as an adjunct to – not a replacement for – sensible money management habits learned at home. And while the curriculum typically covers a number of important financial topics, such as budgeting, credit cards, loans, etc., it doesn’t cover personal family values and lifestyles.
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