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Why Does Family Wealth Fade Away?

Why Does Family Wealth Fade Away?

A lack of vision is often the answer to that question.

 

Provided by Exemplar Financial Network

 

bigstock-Dollar-Bank-Note-Downward-small.jpgMany are the stories of family wealth lost. In the late 19th century, industrial tycoon Cornelius Vanderbilt amassed the equivalent of $100 billion in today’s dollars – but when 120 of his descendants met at a family gathering in 1973, there were no millionaires among them.1

 

Barbara Woolworth Hutton – daughter of the founder of E.F. Hutton & Company, heiress to the Woolworth’s five-and-dime empire – inherited $900 million in inflation-adjusted dollars but passed away nearly penniless (her reputed net worth at death was $3,500).1,2

 

Examining the Retirement Account Shortfall

 

Examining the Retirement Account Shortfall

Why aren’t we saving as much as we should?

 

Provided by Exemplar Financial Network

 

bigstock-Photo-of-a-banker-sat-at-his-desk small.jpgWe know that qualified retirement plans and IRAs are prime long-range savings vehicles; we use them to accumulate assets and invest for the future. So why aren’t some of us amassing the retirement nest eggs that we should? 

     

2014-2015 Blackhawks Schedule

Shattering the Myth That Women Aren't Good with Money

Shattering the Myth that Women Aren’t Good with Money

A cottage industry of condescending books doesn’t address the real issue.

 

Provided by Exemplar Financial Network

 

bigstock-business-finances-and-economi small.jpgWhy do we cling to the myth that women don’t understand money as well as men?

 

If you look at the personal finance books aimed at women over the past decade, some of the titles might convince you that women need “special help” when it comes to figuring out saving, investing and budgeting: Prince Charming Isn't Coming … SHOO, Jimmy Choo! The Modern Girl's Guide to Spending Less and Saving More … Does This Make My Assets Look Fat? … Girl, Get Your Money Straight … A Purse of Your Own: An Easy Guide to Financial Security.

 

Judging by these titles, you would think American women are naive shopaholics or flat-out squanderers. But is that really the case?

 

The A, B, C & D of Medicare

 

The A, B, C, & D of Medicare

Breaking down the basics & what each part covers.

 

Provided by Exemplar Financial Network

 

bigstock-SS-And-Medicare-small.jpgWhether your 65th birthday is on the horizon or decades away, you should understand the parts of Medicare – what they cover, and where they come from.

     

Debunking a Few Popular Retirement Myths

Debunking a Few Popular Retirement Myths

Certain misconceptions ignore the realities of retirement.

 

Provided by Exemplar Financial Network

 

bigstock-A-blue-nametag-sticker-with-small.jpgGeneralizations about money & retirement linger. Some have been around for decades, and some new clichés have recently joined their ranks. Let’s examine a few.

 

Gauging Your Financial Well-Being

 

Gauging Your Financial Well-Being

Six signs that you are in good shape.

 

Provided by Exemplar Financial Network

 

bigstock-Confused-businessman-standing--small.jpgHow well off do you think you are financially? If your career or life takes an unexpected turn, would your finances hold up? What do you think will become of the money you’ve made and saved when you are gone?

 

These are major questions, and most people can’t answer them as quickly as they would like. It might help to think about six factors in your financial life. Here is a six-point test you can take to gauge your financial well-being. 

 

Adjusting to Retirement

Adjusting to Retirement

What people don’t always realize about life after work.

 

Provided by Exemplar Financial Network

 

bigstock-A-senior-adult-couple-sitting--small.jpgIf you have saved and invested consistently for retirement, you may find yourself ready to leave work on your terms – with abundant free time, new opportunities, and wonderful adventures ahead of you. The thing to keep in mind is that the reality of your retirement may not always correspond to your conception of retirement. There will inevitably be a degree of difference.

   

Some new retirees are better prepared for that difference than others. They learn things after leaving work that they wished they could have learned about years earlier. So with that in mind, here are a few of the little things people tend to realize after settling into retirement.

 

Parents, Alzheimer's & Money

PARENTS, ALZHEIMER’S & MONEY

 

Easing into a difficult conversation.

 

Presented by Exemplar Financial Network

 

bigstock-Mother-And-Daugther-Cuddling-small.jpgEvery eighth American aged 65 and older has Alzheimer’s disease, and 43% of Americans aged 85 and older have it, according to the Alzheimer’s Association. Consider those percentages in light of the Social Security Administration’s estimate that about 25% of today’s 65-year-olds will live past age 90. These shocking statistics have serious implications for family wealth.1,2  

 

Your choices. What are your options when it comes to helping a parent out with money management? Informally, you can “lend a helping hand” and check in with mom and dad to make sure that bills and premiums are paid, and deadlines are met. But if you elect to formally take the financial reins, you are looking at a two-phase process:

 

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