Towards the end of the year, wealthy folks are not only thinking of the Thanksgiving Day feast and Christmas morning, but are also taking steps to wrap up their money year in the best and most tax efficient fashion.
Here are a few money moves the wealthy consider making at year end. Continue reading
No one likes to think about death and no one likes to spend precious time dealing with something that will happen after they die. You are doing this only for those who come after, to make things easier for them to handle your affairs they way you specified. Even if you have already done the exercise of setting up an estate plan, you do have to keep it up to date. Here are six checkup tasks to do once a decade or when you know something has changed. Continue reading
Last year I watched the PBS documentary Makers – which told the history of the feminist movement from the 1950’s through the 1990’s. As I watched, I started feeling guilty about not having participated more in ‘the movement’.
What, I wondered, have I done to further the expansion of the role of women in American society, to give future generations of little girls the opportunities denied to me? Continue reading
Ken Burns has done it again. He has created yet another fascinating documentary – this time one about Teddy and Franklin Roosevelt as well as Eleanor. We’ve been watching the 9 part series on PBS all week. These two men had a great influence on the direction the government of the United States has taken (whether you like that direction or not).
The documentary acknowledges that both men and Eleanor were endowed with inherited wealth. Having that wealth allowed them to gain access to education, people and experiences that helped them become the men and woman they were. Without it, America may well have been a different place. Continue reading
Teaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.
Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.
As a result, I started a one week ‘Grandma Rie’s Money Camp’ in 2011 and held our fourth annual one this year.
The focus of this years Money Camp was on saving. To zero in on that, we toured a bank, a credit union and the Federal Reserve’s Money Museum, as well as inspecting our home safe and our safe deposit box at the credit union. In addition I asked several family members to record a story about a time they had saved for something or wish they had. In order to put the focus on saving and provide these activities, I moved the location of Money Camp from the lakeside condo to our metro area. To have money to save, you have to get or earn money. This year, I combined camp with a garage sale and had the kids run their kid business during the sale. Some days I question my sanity – running a week long camp, entertaining kids and preparing for a garage sale called for some stamina I didn’t know I still had! Continue reading