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What looked like smart tax planning could become a problem. And not just for you — your kids could inherit a tax bomb. How to head off potential disaster.
If wealth management clients have children who are recent college graduates, pointing them in the right direction on their first 401(k)s helps build strong connections with two generations.
Here's something I've noticed: the loudest voices arguing against life insurance after financial independence almost always come from people who aren't financially independent yet and don't have kids....
It was a once-in-a-lifetime opportunity to drive Route 66 from Chicago to Santa Monica, California, with my kids and my parents as part of USA TODAY's American Journeys series. I was nervous about tak...
UK 56M, I have worked abroad for the last 8 years and plan to work as long as my body allows, but at least up until UK state pension age, mainly because I had kids later in life (they're going to Uni ...
We are hoping to retire in next 2-3 years. We met and married in San Francisco and loved that urban vibe when we were young. Kids came along and we relocated to Roswell GA just outside of Atlanta in t...
This is going to be a bit long. We are planning on getting LTC insurance, my wifes dad used his benefit and we have no kids. I am just not sure how to think about it. I conceptualize 3 different reaso...
Surrounded by other high-income docs, I’ve felt the cultural pull to push my kids to excel. Should that include an Ivy League education? The post Should I Send My Kid to the Ivy Leagues? A Parent’s Pe...
My husband and I are both 64 years old. My husband is disabled. We are currently living near my children and grandchildren, but we’ve realized it’s too expensive to live in our current state. I retire...
After the final day of swimming and tennis at the sports club we're dropping, I took my kids to an open house in San Francisco. My wife was on a mom’s trip to Napa and I wanted to keep introducing my ...
There are a lot of things wealth is good for, but one of the most underrated benefits is being able to buy peace and quiet. As I was sitting in the hot tub with my two children at Everline Resort in L...
You can tell a lot about a person by how they talk about boats. Some light up like kids in ... Read more
A growing number of parents are being asked to support adult children financially, often by cosigning loans. Proceed cautiously.
I am retiring at 60, and I’m starting to feel like I’ve fulfilled my purpose. I’ve raised two kids who are great people. They are on their own, living their life, and headed down paths that should mak...
Whole life policies purchased 35 years ago, very small and dwarfed by our current portfolio. But still paying for it every month. Really want to cash them out now so my kids have a couple things left ...
I've this idea that retirees are settling for a less comfortable retirement because they are funding various aspects of their children's and grandchildren's lives and activities. Should not one's adul...
It's already been almost 2 years since I retired and I still sometimes wake up in a panic that I'm late for work, or I didn't finish some project or something. I retired as my kids were starting colle...
As a parent to two young children, I am a target client for universities everywhere. So far, I have saved over $800,000 in two 529 plans to pay for universities in 9 to 12 years. I know we need to pay...
One of the biggest conundrums parents face is managing their own emotions when a stock market, real estate market, or any other risk asset takes a dive. On one hand, it's painful to watch your portfol...
People in their 40s can find their finances stretched as they care for children and aging parents. Here are some strategies to help with competing priorities.
Publishing a book is no joke, but publishing a book while trying to raise a kid is the next level of crazy. Before having kids, we had no idea how much sacrifice, time, and effort goes into parenting....
As a veteran retirement investor, I'm sharing this advice for your own adult children or grandchildren.
For Gen X, delaying retirement can be an opportunity to pilot-test your second act, plan for your inheritance and structure trusts for your kids.
As a FIRE parents raising two children in San Francisco, we rely heavily on our investments to remain free. If we significantly misjudge returns, we increase the probability of having to go back to wo...
By many objective measures, 2025 was a good year. Investment returns were solid. I published another bestseller in Millionaire Milestones. My kids are healthy, happy, and continuing to grow in loving ...
Millions of people over 65 care for grandkids, adult kids or aging parents and will also need care themselves. Building a caregiving strategy is crucial.
Are you living below your means in retirement because you fear not having enough to leave to your kids? Here's how to get over that.
As I watched my kids tear through their Christmas presents, I felt an unexpected twinge of melancholy. I knew the thrill over that one toy they had wanted for so long would be fleeting. Soon enough, i...
Jeremy Keil weighs the opportunities and risks associated with giving your money away to your kids and charity. Most retirees I talk with don’t worry about whether they can give money away. They worry...
Michael Dell and his wife, Susan Dell, plan to give away billions of dollars to fund investment accounts for children in the United States.
A parent may transition a business to children as part of a succession plan. Be careful about the transfer of goodwill as the IRS may argue it was a gift.
Many adult children want their aging parent to move closer and be in assisted living. Beware of the pitfalls and find a right fit with your elder's personality....
Why am I so intent on accumulating wealth, despite not having children? It's because of my scarcity mindset. Here's how I'm working on it. The post The Queer Scarcity Mindset appeared first on The Whi...
Interesting Social Security Scenario - What’s your take on this? ? or ? A (breadwinner) parent divorced a real deadbeat parent after 14 years of marriage -and (2) kids. Neither ever remarried. T...
In this episode, we tackle Kay's questions about managing her IRA and Roth accounts in retirement. With significant assets, no LTC insurance, and children in differing financial circumstances, Kay wan...
My wife and I plan to retire at the end of 2028. While we both have good paying jobs now, for most of our adult lives, we've been barely making it - raising children and living paycheck to paycheck. O...
Some parents were abusive to their kids growing up. There is estrangement. But do adult children help when that aging parent is in dire need? Some do, and some do not....
In looking ahead, we would like to purchase and pay off a car that we will use primarily for long distance travel upon retiring. We have a lot of kids and a couple now are several states away, as well...
We may never think we need a legal document to help an adult child in an emergency. But in this real case, parents did not have what they needed. A nightmare resulted....
I'm 65, planning on retiring in January, widowed, no kids. My house is paid off, everything else is paid off, about 400K in a 457. My car is 13 years old and I know I will need another eventually. I w...
After co-founding Busy Bees—later spotlighted by Gwyneth Paltrow’s Goop—Shannon Spotswood returned to finance, helping build RFG Advisory into a platform that supports 65 independent...
When children are young, it can be hard to meet immediate costs, let alone save for the future, but these five habits can help build lasting financial security....
Spouse and I are retiring soon and have both greatly reduced our work schedules. We are fortunate to have kids and grand kids living nearby and we also have a 6 month-old Lab puppy. We did not want to...
The rule of self-reliance holds that your well-being in old age is up to you, not your children. Because "nothing can bring you peace but yourself."...
You've met your savings goal, your friends are having fun without you, your boss is mean to you, and your kids are grown and gone. What are you waiting for?...
With Americans having fewer children and the baby boomer cohort rapidly retiring, it has been immigrants who have been shoring up the U.S. workforce. According to the Migration Policy Institute, U.S. ...
Lately, I’ve been thinking more about estate planning. Part of it is just getting older. Part of it is having young children I want to protect no matter what. And part of it is watching the unse...
I'm 52 (F), married, with no kids (by choice). I'm curious to hear about people in their 60s and 70s (and beyond) who live in a large city such as Chicago. I lived in/outside Chicago until I was in my...
While there is debate over immunizations for children and pregnant women, if you’re over 65, you still need your regular vaccines this fall....
My spouse and I are retiring soon and are in that mode of “our house is too big”, “our kids aren’t moving back home”, and “we don’t want to retire here”...