FiGuide » Family Finances

Splitting The House During a Divorce In a Recession

Linda Y. Leitz, CFP®, EA, CDFA — Wed, 28 Jul 2010 19:07:28 +0000

Besides income and expenses, the house is another issue that sometimes has some aberrant circumstances in this recession. During a “normal” economy, it’s pretty common for divorcing families either sell the home or one of them continues to live in it. Seems pretty straightforward.

The Fallacy of a Financial Plan

Bob Rall, CFP® — Wed, 28 Jul 2010 11:30:28 +0000

Think about a financial plan that was done in early 2008. By early 2009 the investment landscape had changed in a dramatic way. With most of the world markets down 30-50% in that time period, your plan would certainly look a lot different than it did just twelve months earlier.

A Lesson on Delayed Gratification

Richard T. Feight, CFP® — Wed, 21 Jul 2010 11:49:09 +0000

One of my favorite parts of working with clients is that over the years I’ve heard some really neat stories as to how clients have imparted their financial wisdom on others. One of my favorite stories is this one about a Grandma and her grandkids:

Stuck In The Middle With You

Bob Rall, CFP® — Tue, 20 Jul 2010 11:41:25 +0000

Sometimes it seems that way in the investment world. Some clowns are always predicting that because of… (insert favorite reason here) the markets are going to suffer and we should sell everything we own and invest in…gold? Then there are the jokers who predict that because of … (choose another favorite reason here), gray skies are going to clear up and it will be smooth sailing moving forward.

The Incredible Estate Tax Escape

Thomas Fisher, CFP® — Wed, 14 Jul 2010 01:56:00 +0000

The death of New York Yankees owner George Steinbrenner this morning provides his heirs with a huge windfall: an estate with an estimated in excess of one billion dollars, inherited in a year when there is no Federal estate tax.

You Already Know the Answers, But Are You Asking the Right Questions?

Russ Thornton — Tue, 13 Jul 2010 09:36:41 +0000

I chewed tobacco. A lot. I did it for many years beginning as a teenager and continuing through college. I knew it wasn’t good for me, and I had personal experience as evidence that it wasn’t particularly becoming to the ladies. Yet, I continued to do it. One day, after I’d been dating this girl for a while, she laid it on the table for me. She essentially said “Either lose the tobacco or lose me.” I quit right then and there and haven’t touched the stuff since. My conclusion ...

10 Personal Financial Questions Everyone Should Be Able to Answer

Troy Von Haefen, CFP® — Wed, 30 Jun 2010 15:21:39 +0000

As we move through life, we get bogged down with day to day activities and might find that small pieces of our financial puzzle get neglected. These neglected areas can have a negative impact on our ability to meet our goals. If you can positively answer the ten questions below, you are certainly putting your best financial foot forward. 1. Do you know where your money goes every month? Folks that understand their income and expenses have a better opportunity to make sound ...

Remarriage Rules for Widows and Widowers

Jim Blankenship, CFP®, EA — Mon, 28 Jun 2010 12:15:51 +0000

The Social Security Administration has a special way to treat former spouses differently from widows and widowers with regard to benefits when the person in question remarries. This only affects ex-Spouses while the other partner from the former marriage is still living. When the former spouse dies, the surviving spouse is treated as a widow [...]

High Deductible Health Care: What You’ll Need to Know

Sherrill St. Germain, CFP® — Thu, 24 Jun 2010 21:25:37 +0000

In the good old days (last year and before), my view of the health insurance industry was… ahem… kind of academic. If asked to comment on the future of health care, I might spout CFP® jargon such as “the law of large losses” and “shared responsibility” to explain why I thought costs were so high, but care standards not always as lofty, and why I anticipated an eventual, near-complete transition of the industry to high-deductible health plans (HDHP). Safely ensconced in a comprehensive health care policy (read: old-fashioned one that actually ...

5 Documents You Need Before a Divorce

Lea Ann Knight, CFP® — Tue, 22 Jun 2010 02:31:27 +0000

Just when it was safe to go back in the water….The news of Al and Tipper Gore’s impending divorce after 40 years of marriage has made a lot of old married couples look at each other in a new light. Unspoken is the question – Could it happen to us? I, for one, surely hope my spouse and I can continue to travel through this hectic life and arrive at retirement ready to implement all our grand plans together. After all the ramen dinners, scraping ...