I received three reader emails in the past week about estate planning and children. First, from Doug: My wife and I are about to have our first child. What steps do we need to take care of to make sure our baby girl has a good life if something were to happen to her parents?
Kelly writes in: What would you do if you won the lottery? Since I don’t play the lottery, I’ll answer this question under the assumption that instead I’m just receiving a very big inheritance from my unknown Uncle Rockefeller and Aunt Vanderbilt. The first step I’d take is to make absolutely sure all taxes on
Recently, I read a fascinating study by the Pew Research Center indicating that somewhere around one in seven adults have simultaneously provided financial assistance to a parent aged 65 and older and to one of their own children of any age in the past year. A quick overview of this study: With an aging population
In a recent reader mailbag, Dave wrote: Up until January, I had a wonderful job where I handled all of the IT needs for a small company in our area. At the end of last year, the company was sold and the jobs were folded together with another company with the “redundant” jobs being eliminated,
“I think the girl who is able to earn her own living and pay her own way should be as happy as anybody on earth.” – Susan B. Anthony Today, I’m going to talk about my daughter. In many regards, she’s a pretty typical four year old girl – at least judging by her peers.
For the past month, my family and I had been looking forward to traveling to the Chicago area. We were going to stay for four days with my cousin (who I adore) and her children (which my children adore). We had planned on going into the city to Taste of Chicago and to the Art
A few days ago, Sarah and I went out to dinner with another couple that we’ve been friends with for a long time – we’ve actually known the female in the couple for almost two decades. They live several hours away from us and we don’t get to see them terribly often, but we make
One of the most common questions I get is whether or not a person should cosign on someone else’s loan – a car loan, a student loan, or so on. I have a single response that I always give to this type of question: You should only co-sign a loan that you’re perfectly happy paying
One common question I’m asked a lot is how we actually balance our work lives and our family lives. Barb sums it up best: How do you do it? You write tons and tons of stuff for The Simple Dollar, your wife works a full time job, you seem to have tons of time available
Whenever Mother’s Day rolls around (and it’s just about here), people seem to congregate into two camps on the issue. First, there’s the celebrate your mother camp – the people who feel that Mother’s Day is a perfect opportunity to show your mother that you care for her, either through action or through a gift.
The last week has been pretty rough for me following the passing of my grandmother. I was pretty close to her from my earliest years, but over the last few months, we hadn’t spoken as much as we normally had. I was involved with my own children and she had not called as often as
My maternal grandmother passed away very suddenly this past Thursday. It caught me completely by surprise, in fact – I was working on arrangements for a weekend guest at our home when my father called me with the news. It shocked me, to say the least. Here are some of the things the last few
It’s amazing to me how often one part of my life is in opposition to other parts. Last Thursday, for example, my wife stayed home with our daughter to take her to her eighteen month checkup at the doctor. I had a lot of work to do, so I went into my office, closed the
Spring is awakening here in Iowa, and for us that means getting outside, doing some yard work, and getting some early work done with our garden. With a three year old and a one year old in the house, we try to get everyone involved in the gardening process. My wife journals extensively, so for
I received a heart wrenching email from a reader that I’m going to call “Peggy.” Here’s a few excerpts from that email: [...] In short, we are going to have to be out of our house by October 24. We’re going to move in with [my brother] and his family for a while and then
Yesterday, I called my parents just to see how they’re doing. I usually give them a call two or three times a week and talk for most of an hour, mostly with my mother. During the conversation, we talked about my father’s health. He’s in his mid-sixties and still in pretty good shape, but he’s
Recently, a young child that lives nearby (age six or so) had a large birthday party at his home for all the children on the block that were approximately the same age (four year olds to eight year olds, roughly). The party was in the family’s fenced-in backyard and included a magician, two horses, and
Holding a Monthly Family Financial Meeting … And How It Can Benefit Your Marriage and Educate Your Children
Prior to our financial meltdown, my wife and I simply never sat down and talked about our finances. Right after our meltdown, we talked about things almost every day, but through our recovery, our discussions have slowly reduced themselves to the point where we’re effectively already having monthly family financial meetings. And these meetings have
I’m worried about my grandmother’s finances. She lives on Social Security and a small pension from the state, but if that were all there was to her story, it would be fine – she owns her residence and is just fine in terms of taxes and debt. The problem is that her oldest son still