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Was This the Legacy You Intended?

Was This the Legacy You Intended?

The first thing you should know about me is that I’m not a fear monger. That may be surprising given my involvement with legacy planning, which is related to fear because the association with death. The simple reason why I don’t subscribe to fear-based motivation is because it’s not effective, at least not long term, and it certainly isn’t constructive.
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Money Lessons: Debit Cards for Kids

Money Lessons: Debit Cards for Kids

Explaining money and how it works forms the basis for teaching your kids financial literacy. An easy way to do this is by discussing your money decisions with your children – how you earn money, how you spend it and, of course, how you make your savings choices as well. Basically, what you’re doing is modeling the behavior you’d like your children to learn.
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A Trust Can Be a Flexible and Smart Legacy Solution

A Trust Can Be a Flexible and Smart Legacy Solution

When planning your legacy and thinking about your family’s future, you may want to consider a trust. If you’ve avoided this financial tool because it seems too restrictive, it might be time to reconsider. Trusts are popular when the beneficiary is incapable of handling asset management, but they can also be fairly flexible, depending on how they’re structured. Beneficiaries can be granted a decent amount of control while still enjoying the benefits of asset protection and tax savings.
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Money Management Lessons From My Son

Money Management Lessons From My Son

I consider myself fairly sophisticated about money management and how important it is to teach our children financial responsibility. But it took a conversation with my frustrated nine year-old to open my eyes to two-key elements I had been overlooking. And what a difference they can make to a kid’s understanding of handling money. Here’s what happened and what I learned.
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What Is This Thing Called Money?

What Is This Thing Called Money?

By definition, money is “any article or substance used as a medium of exchange, measure of wealth, or means of payment.” Money makes complete sense to us today but it has taken us around 3,000 years to get here. Prior to money, bartering was the means by which people exchanged goods or services. Bartering involved a direct trade and required finding another person or community who wanted or needed the goods or services being offered.  It worked but not always very efficiently.
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