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The Community Lifestyle/Business Profile Journal of CenLA
Posted May 2013
I looked out my kitchen window early this morning and witnessed a blue jay so full of himself that he was bouncing as he sang. I think, no, I am sure that he was singing the Easter hymn, “Welcome Happy Morning”. It may be the same hymn that those of you who are fortunate enough [...]
Continue ReadingPosted May 2013
According to a 2008 study by Martindale-Hubble and FindLaw.com, approximately 60% of American adults do not have a will or other estate plan in place. While no one wants to confront this eventuality, virtually all of us want to determine the distribution of our life’s work–how our assets can go to support family, friends and [...]
Continue ReadingPosted April 2013
The March issue of Money Magazine had an interesting article that addressed something that many of us have experienced in our lifetime: How to ask a friend or relative to pay back money you loaned them in good faith. I remember lending my best friend a few dollars during our college years. Even though the [...]
Continue ReadingPosted April 2013
It can be amazing how we require students to take math, English, history, and other classes to graduate high school, but we ignore essential subjects, such as personal finance. Understanding personal finance is crucial to this country’s success, and it will affect every student throughout his or her life. It’s time we made personal finance [...]
Continue ReadingPosted March 2013
None of my kids live in or around Alexandria. They are already telling me that I am going to have to move closer to them so that when I get “old” there will be someone to take care of me. This past week, one of our elderly clients was admitted to the hospital and may [...]
Continue ReadingPosted March 2013
The amount of wealth influenced by women and the rate at which it has been increasing are remarkable. Women are responsible for approximately $18.4 trillion in consumer spending, and hold approximately 30 percent of global wealth. They are the sole financial decision-makers for one-third of households in the United States, and 95 percent are involved [...]
Continue ReadingPosted February 2013
Regardless of your age, if you are important to the ongoing financial security of someone whom you love and care about, it is probably time to review, renew and report on your life insurance coverage. From recent experience with friends, family and colleagues, I can tell you that insurability is a fleeting, ever-changing part of [...]
Continue ReadingPosted January 2013
According to an article in the December 10, 2012 edition of the Wall Street Journal, downsizing is a popular topic. Small 401(k) balances for 50 year olds, more mortgage debt by 55-64 year old homeowners and concerns about having enough money for retirement result in poll numbers suggesting that 43% of Americans ages 50-64 plan [...]
Continue ReadingPosted December 2012
I know that I just wrote on this topic last month, but the media has been determined to put out more information than I can include in just one article. If you already know it all, skip to the next page. Otherwise, indulge me for one more session. There was an interesting interview in the [...]
Continue ReadingPosted December 2012
After you turn 70½, the IRS requires you to withdraw some of the money in your retirement savings accounts each year. These withdrawals are officially called Required Minimum Distributions (RMDs). While you never have to make withdrawals from a Roth IRA, you must take annual RMDs from traditional, SEP and SIMPLE IRAs, pension and profit-sharing [...]
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