According to BusinessInsider.com, married millennials and Gen Xers are keeping their finances separate from their partner much more often than married baby boomers, and it shows that younger generations are thinking about marriage and finances differently. Questions: What do you think are some of the biggest reasons that millennials and Gen Xers are keeping their… Read more »
Posts Tagged: financial planning
Not a good financial plan!
Even though Wall Street and the financial press have been harping for decades on the retirement savings crisis, this article provides some additional perspectives. Questions: 1. According to the Manpower Group, what percentage of millennials plan to work until they die (as their solution to retirement)? 2. Why do so many millennials have such a… Read more »
Bye-bye Loopholes! You will be missed!
Keep an eye out for three retirement loopholes that the government may close shortly. They have become increasingly popular as financial advisers have learned how to exploit kinks in the law. Questions: 1. Who benefits from the Back-door Roth IRA conversions and how does this work? 2. What bothers lawmakers about “the stretch IRA?” 3…. Read more »
Outlasting Resources: Unchartered Medicaid Territory
The presidential election may decide the fate of Medicaid’s future. Faced with rising Medicaid costs and budget deficits, many states are already trying to cut the cost of long-term care by significantly changing Medicaid coverage, through the use of federal waivers. To be eligible for Medicaid, a person must spend down so that they have… Read more »
Losing Millions
Bankrupt professional athletes are a sad fixture on the sports scene, and they may or may not mess up more often than the average person who earns a lot of money really fast. However, their troubles seem outsize because of their fame and the pathetic schemes they fall for. The stakes are particularly high for… Read more »
Can Debt Ruin Your Relationship?
When Allison Brooke Eastman’s fiancé found out four months ago just how high her student loan debt was, he broke off their engagement within three days. Although she had told him early in their relationship that she had over $100,000 of debt, when she found that the amount was actually about $170,000, he accused her… Read more »