Seek and Find!
For one month each year, Chelsea Brennan, 30, and her husband, Jeremiah, 36, run what they call a financial fire drill. Chelsea, who is usually in charge of family finances, turns all bill paying, budgeting, banking, and investing over to her husband, who is usually fully occupied as a stay-at-home dad to their two young sons. At the same time, Chelsea takes over the tasks Jeremiah usually handles in their Storrs, Connecticut, home.
In this installment of client conversations, we look at the special concerns divorcing couples have when it comes to insurance coverage.
Stanford University’s Bill Burnett, 63, has sketchbooks filled with ideas to draw from when he retires—teaching, writing, developing new inventions, and painting.
Q: I am planning to retire next year. What should I be doing to prepare given uncertainties in the markets and economy?
Q: I have inherited jewelry and collectibles from family members over the years. Are they covered under my homeowner’s policy?
Your adult child plans to borrow $400,000 to buy a home. You want to help. You could provide that sum in the form of a gift, but that would trigger federal gift-tax complications. Besides, giving away that much might leave you a little uneasy—and take a bite out of your portfolio. Instead, consider providing the money as a loan—an intra-family loan.
The turn of the 20th century was a time of high optimism and enthusiasm for the future. This Age of Hope was fueled by technological innovations such as mass communication, mass mobility—with the advent of affordable personal automobiles—and the extension of education to nearly everyone.
Do you ever wonder where your money goes each month? Does it seem like you’re never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals.