In response to my recent post about estimating the true cost of ongoing spending, a reader (and blogger) named Edward said: On the flip side, I’m on track to have a fully funded retirement when I am ready to retire. Why forgo a pleasure now to have more money than […]
Estate & Financial Planning
Antoine de Saint-Exupéry once said “A goal without a plan is just a wish.” This page is the home of articles about setting goals and making plans for the future.
Whether it relates to big picture money management or arranging for the orderly distribution of your estate, you’ll find it here.
Topics of interest include budgeting, income and expense forecasting, preparing a will and/or trust, powers of attorney, living wills, beneficiary designations, estate tax issues, and even selecting a financial planner (if you you need one).
Net worth is a common measure of wealth. At the same time, different people tend to define it in different ways. In its purest form, net worth is calculated as assets minus liabilities. Essentially, the amount of money you’d have if you sold everything that you own and paid off […]
In case you missed it, Vanguard recently released data looking average portfolio size and stock allocation as a function of age. It’s an imperfect analysis in that it focuses on retirement plan participants at Vanguard. Thus, it’s a non-random sample and limited to defined contribution plan holdings. But still… Those […]
I’ve talked in the past about why you should rebalance your portfolio. In short, you do so to maintain your desired risk profile. But how do you decide when to rebalance? While it’s good to keep things in check, there’s no sense in going overboard. While some rebalance at set […]
When evaluating investments, you’ll often run across “average” return values. As useful as these numbers seem, they can be misleading. Why do I say this? Because they’re almost certainly arithmetic averages. Thus, they ignore the effects of volatility and overstate the returns that you can actually expect. Not sure what […]
Over the past week or two, I’ve been playing around with a new (to me) online investment tracking service called Personal Capital. If you haven’t heard of it, it’s sort of like Mint, but with a focus on investing. Whereas Mint seems to target people who are just starting out, […]
Over the past week, I’ve been giving myself a crash course in Medicaid planning. I guess that’s what happens when your parents advance in age and start having health problems. In case you weren’t aware, most states require the elderly to spend down their assets to a few thousand dollars […]