For many, no day is complete without a trip to the neighborhood coffee shop. Many of us have been known to enjoy our triple nonfat caramel lattes, double espressos or half caffeinated mochas – whether we are shuttling our kids from school to the little league game, congregating with other parents to organize PTA functions [...]
By Richard Collari Jr.
As parents, our single most important job is raising our kids. We spend countless hours teaching our children right from wrong, baby proofing the cabinets, installing a gate at the top of the stairs, using the best car seat available and driving the safest vehicle that we can afford.
However, even the most [...]
One of the most important items on the financial to do list for new parents is an estate plan, which typically includes a will and a trust. A will can designate the person who will oversee the process of concluding your affairs, based on your directions. It also can express your intent when it comes [...]
If you’ve found that talking about family finances with your spouse is difficult or completely uncomfortable, we have some suggestions that can help.
Before doing anything, think about whether or not you and your spouse are on the same page in regards to how to budget money. Each of you is an individual, especially when it [...]
An emergency can happen at any time. A special fund that you create for an unforeseen circumstance like an unexpected job loss or illness will see your family through it – all the while preventing unnecessary debt and the associated finance charges that could be very easy to accumulate.
How Much Is Enough?
The answer depends on [...]
The Question: To Buy or Not Buy Life Insurance
The one question everyone must ask is, “if I died tomorrow, would I leave a loved one in a financial bind?” If your answer is “yes,” consider life insurance. Then ask, “do I like paying really high commissions for something that I can do for myself?” If your answer [...]
Are multiple 401(k) plans from former employers just sitting on your shelf, collecting dust? If so, we highly recommend that you roll them over into an IRA. You’ll find that the advantages are many, while the disadvantages are few:
Pros:
IT’S SO MUCH EASIER: By consolidating multiple 401(k) accounts into a single IRA, you eliminate the hassle of having [...]
We’ve all walked away from the holidays with useless items in tow. Remember the teddy bear tie that Aunt Mary thought was just too cute?
It’s our kids that get this the most. Let’s not forget the sheer overwhelm that comes from opening all those presents — many of which get used once and then tossed aside. [...]
As parents, most of our time is spent managing our day-to-day lives. While making sure our kids master life’s lessons, it’s easy to put saving for college on the back burner. Experts say we should start early and balance our efforts between saving for retirement and college. It’s a juggling act, but a necessary feat [...]
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If you are a parent to be, you’ve probably been undergoing a flurry of planning activities, from decorating the nursery to researching baby names. College savings is probably not high on the priority list. Yet, considering the impact of tax-free compound growth over time, it should be. Taking the college savings plunge in the early [...]
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