LPL Insured Cash Account Program - FDIC insurance up to $2 million for joint account holders
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If you have a son or daughter approaching the dreaded college application deadline for 2008, reconsider choice of colleges IF cost is a consideration in that choice.Continue reading "Financial To Do List: January to October 2008" »
Celebrities are usually just a little below gambling winners on the “Who you should not take financial advice from” scale. But like all of us, they get older and sometimes even wiser. Money Magazine ran a piece recently featuring answers to questions about money from famous people who are not so young any more. Here is a sampling of their views on money:
Anyone who has paid for gasoline, health care or college tuition lately knows that even if the overall rate of inflation is modest, there are areas where costs are rising more dramatically. Earning returns that exceed the cost of living is important for all investors, but it is especially critical for those who may depend on their portfolios as a source of income.
Continue reading "Planning a Long-Term Strategy? Don’t Forget About Inflation!" »
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Sometimes money costs too much. – Ralph Waldo EmersonThere are so many parts of my work that I like that it is hard to pick one favorite. One of the consistently most interesting parts is the interplay between our values and our money. What will we give up for money, and what truly is priceless?
Continue reading "Will Your Kid’s Inheritance Make Her a Monster? Not If You Plan Carefully" »
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Many investors can quickly recall their annual income, the value of their home and other measures of how they are doing financially. But when it comes to knowing their net worth, the same investors may be scratching their heads. It’s important to know your net worth — and monitor it periodically — because net worth is the most important gauge of whether you are building wealth over time.
Continue reading "Net Worth: It’s Your Most Important Number" »
One of the best investments you can make for a loved one — whether a child, grandchild, niece or nephew — is an investment in his or her educational future. College graduates with a bachelor’s degree typically earn twice as much, over a lifetime, as those with a high school diploma.1
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Fix your portfolio. Year-end is the perfect time to rebalance your portfolio. At a minimum, investors should revisit (or create if they don’t have one) their true portfolio allocation and their risk tolerance questionnaire to see if any changes need to be made to the asset allocation. A risk tolerance questionnaire is designed to take the emotion out of investing and keep the investor on track, regardless of what the market or the economy is doing. In some cases, rebalancing will be required because the percent invested in certain assets exceeds the limits established in the stated investment objective. In other cases, circumstances may have changed, requiring changes in the percent invested in asset classes.
America is a nation of givers. In 2005 (the latest data available), more than $260 billion was given to charity and more than 75% of these donations came from individuals.1
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Continue reading "When Planning for Retirement, Take a Holistic Approach" »
On a personal planning basis, when we think of saving for retirement we think of a small amount of money that builds and builds to a large amount which is finally withdrawn from in retirement years. But we seldom talk about the other side of the equation: what economists call human or individual capital.
Sales of existing life insurance policies to third parties—often referred to as "life settlements"—have grown exponentially in recent years, and that trend appears likely to continue, according the NASD. The NASD recently issued a notice to brokerage firms and associated persons that life settlements involving variable insurance policies are securities transactions, and firms and associated persons involved in such transactions are subject to applicable NASD rules.
Couplepreneurs: Starting a Business with Your Better Half Can Reap Huge Rewards – And Unique Problems
When President Bush signed new legislation in May to limit gifts to children that take advantage of their lower tax rate, it was the second time in just over 12 months that Congress extended the reach of the so-called kiddie tax, which subjects a child’s income to his/her parents’ higher tax rate.
Continue reading "What You Can Do Before the Kiddie Tax Loophole Closes" »