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Family Finances

Tips for saving money on your summer vacation

   By Steve Nitz With Memorial Day weekend – the unofficial start of summer out of the way, millions of people across the United States will be travelling to various hot spots for their annual summer vacations. It’s always a great experience to visit different towns, beaches and national parks, but vacations can get expensive, especially if you’re taking the entire family. With that in mind, here are five ways …Read More

Soon to be Dads: Preparing for a New Baby

By Tara Carter Congratulations, you’re having a baby! Planning for a new child can be fun and exciting, and making sure you’re financially prepared is a huge part in ensuring you’re ready to bring baby home. One of the most important things to do when getting your finances together is to SAVE! Having money saved is not only smart for emergency purposes, it will also ease the stress of having …Read More

5 Things Every New American Should Know About Personal Finance

As the nation celebrates Independence Day, many Americans think about what it was like for the early settlers arriving on our shores for the first time. Those early pioneers faced much uncertainty when it came to basic survival and the ability to provide a secure future for themselves and their families. Today’s immigrants may not face such extreme conditions, but they do have some significant hurdles to clear when it …Read More

Making Sure Loved Ones Are Prepared for Their Retirement Years

By Jason Alderman If a senior relative faces a sudden, debilitating illness or starts losing control of everyday finances, would you know where his or her retirement, estate and long-term care issues stand? If the answer is no, you’re not alone. In many families, it takes a crisis – a prolonged hospital stay or problems at home with neglected maintenance and bills or even evidence of fraud – to instigate …Read More

Starting Roth IRAs for Your Grandkids

By Jason Alderman Grandparents are notorious for spoiling their grandkids, but sometimes a more strategic approach to giving money can provide grandchildren a much better financial start. A 2012 MetLife Mature Market Institute study reported that 62 percent of grandparents provided financial support or monetary gifts for their grandchildren. In light of the recent economic downturn, some have indicated increased pressure to help out, says the study. If you’re seeking …Read More

Will Your Kids Inherit Your Debt?

By Jason Alderman Many people finally get around to writing a will in order to safeguard their assets for their heirs. But what if you’ve got the opposite problem: Your nest egg was decimated by the recession, bad investments, or simply living longer than expected and now you’ve got a mountain of bills you can’t pay off. Will your kids inherit your debts after you die? The short answer is, …Read More

What To Do If You Inherit Someone’s 401(k)

By Jason Alderman Talk about good news wrapped in bad: In the midst of grieving the loss of a loved one, you learn that you were named beneficiary of their 401(k) plan or IRA. Chances are you’ve got too much on your mind to make any sudden decisions about what to do with the money. That’s a good thing – better to research your options first. However, don’t procrastinate too …Read More

When to Say No: A Parent’s Guide
to Giving Adult Children Money

By Barb Miller When I work with clients who give money to their adult children I am always curious why. Since preparing a comprehensive budget is part of the counseling process, the topic often comes up. The adult child may still be living at home, or recently returned to the parents’ household. Or, parents may be giving money to an adult child that lives on his/her own. Often what I …Read More

Money Styles for Couples

By Jana Castanon Finances are a hot topic for any couple, and one that must be discussed prior to making a permanent commitment to each other. There are three basic money management styles that a couple could choose – they could combine all their resources into joint accounts, have completely separate accounts, or a combination of the two. There’s isn’t one right way to do it. It depends on personalities, upbringing, and values. …Read More

Divorce and Debts: A Ticking Time Bomb?

By Barb Miller As we all know, financial problems and stress often lead to relationship problems. Sometimes, couples are able to work through issues together, and sometimes they are not. If they can’t, the couple may be headed for divorce court. In a divorce, a judge will typically divide the assets and debts incurred during a marriage. Or, couples may arrive at an agreement over property matters that are formalized …Read More