Retirement

Making Cents: The Rule of 168

The rule of 168 isn’t some fancy way of seeing how fast your money doubles or a code section from the IRS, it is a law of life.  The law is that there are only 168 hours in a week, and you need to use them wisely if you want to live the ideal life…

How to Avoid a Financial Family Feud

All too often families fight about money. Commonly these feuds begin over real estate, family businesses or care decisions for aging parents. No parent’s dream for the future of his or her family includes disownment or troubles among the siblings, yet parents are most often the ones to blame for the problems. Preventing future feuds can…

women in business meeting

Succession Plans for Privately Held Businesses – Part III

In the last two weeks, we’ve talked about the different parts of planning for business succession.  In our first article, we talked about the operational preparations that must be made (read the article here).  Then last week, we started discussing the financial implications of business succession, including valuations of the business and any real estate…

Man at building

Succession Planning for Privately Held Businesses Part II

Last time, we wrote about the operational side of succession planning.  In case you missed it, you can read it here. Continuing with our series, we’re moving on to the financial side of succession.  There are a few key ingredients:  who will become the new owners of the deceased shares, and what are the financial…

Avoiding Battles about Money

According to a 2012 Harris Interactive poll, about 36% of all couples aged 55 – 64 argue about money.  That’s the highest percentage amongst any age group and significant because people in that age bracket are either retired early or thinking about the day that they may stop working. Most life and financial transitions are…

retirement paperwork

Making Cents: Beneficiary Choices Need to be Reviewed

With certain assets, it doesn’t matter what your will says. Upon your passing, these assets will flow to whomever you elect as the beneficiary of each individual account. Beneficiary elections are made for retirement accounts and insurance contracts. Typically, these beneficiary elections are made when you establish the account. For certain retirement accounts, these elections may be…

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