Volume 3, Issue 8
Making the Most of Annual Gifts
If you’re like most individuals, you’ve probably worked a lifetime to build your own American dream—an adequate nest egg, a comfortable home, and an array of other assets. Then, at one point or another, you may realize that your finances could create unfavorable estate tax consequences. So, you take care of the compulsory legal documents—wills, trusts, etc.—and learn along the way that giving away assets may help reduce the size of your taxable estate. Even though many individuals make occasional gifts to their children or other family members, few actually take advantage of the benefits offered through a regular gifting program.
(Read the Full Story)Employer-Sponsored Plans Help You Save for Retirement
Nearly everyone has dreams for retirement. People are healthier and living longer, which allows them to enjoy retirement for a longer period of time than ever before. Consequently, your retirement assets must last longer and accommodate increases in the cost of living. Only through proper planning and follow-through can you help avoid income shortfalls and assure a smooth transition from the world of work to the world of retirement.
(Read the Full Story)Your Children and Money Management
A four- or five-year-old child may seem too young to grasp the concept of money management, but even at an early age, children see that money buys things. Simply waiting in a supermarket checkout line provides ample evidence of “kiddie consumerism.” Therefore, it is important to begin as early as possible to help your child understand the power of money by allowing him or her to deal directly with money matters.
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