Key Facts About Your Family Insurance Plan

Every family needs several different types of insurance. Some offer protection for the near term, and some for the long term. Both types are important for protecting your family’s financial future. Make sure your family insurance plans are up to date and will cover the costs of unexpected disasters.

Home, Auto, Natural Disasters

InsuranceWe buy insurance for our homes, our cars, boats, and other things. Some types of coverage are required either by the mortgage company or the state. Depending on where you live, you may have special insurance that covers flooding or other natural disasters that ordinary homeowner’s policies do not cover. However, there are many kinds of insurance requiring individual decisions and are not mandated by any entity. The different types of insurance policies can have profound impacts on the future of your family. Mortgage insurance protects the lender against a default and should not be confused with homeowner’s insurance which will allow you to rebuild your home if it is damaged or destroyed. To add more confusion there is a type of life insurance policy called Mortgage protection insurance that is basically a decreasing term insurance policy set to the outstanding balance of your mortgage. So the coverage decreases as you pay down your mortgage. This is usually an expensive form of term insurance and you can probably find a better deal elsewhere. See Mortgage Protection Insurance vs Private Mortgage Insurance? , How Much Car Insurance Do I Need? and Tips for Buying Car Insurance.

Life Insurance

Life insurance pays out money when the covered person dies. Though, perhaps not a joy to think about, it performs a necessary function that will [Continue reading]

Why We Lied to Our Kids about Their Inheritance

How to Preserve Family Wealth and Provide Financial Benefits to Your Children Without Spoiling Them: A Lifetime Project

The finest inheritance you can give to a child is to allow it to make its own way, completely on its own feet.

– Isadora Duncan

Mark_FordBy Mark Morgan Ford

Five years ago, Bill Bonner, my friend and business partner, asked me to speak to a group of about 50 old, wealthy white people meeting in an exclusive beach resort. He wanted me to discuss “the challenge of inter-generational wealth.”

What the heck is inter-generational wealth?

It’s the wealth you’ve acquired for your children, grandchildren, and maybe even your great-grandchildren.

The challenge is how to preserve it. History tells us that people usually squander any money they inherit. And if they don’t squander it, their children surely will.

This is a serious problem for seriously wealthy people. But I believe it’s a problem for middle-class people, as well.

It’s not just about keeping your kids from pissing away the money you worked so hard to save. It’s about keeping that money from turning them into the kind of adults you don’t want them to be.

The experience of speaking to that bunch of 50 grumpy old folks gave me a number of new and useful ideas about this problem. I’d like to share those ideas with you in this essay.

The Downside of Helping Your Children

Let’s be realistic: It feels good to give, and we want to think of giving as a purely beneficial act. (With a stroke of the pen we can make someone’s life easier.) But giving away money—whether to your children or to strangers—often results in unintended consequences—some of them undesirable.

Giving money to your children—at any age—can make them wasteful. It might make them dependent. It might weaken their ambition and strip away their self-confidence. And the expectation of getting money from you might even make them [Continue reading]

Retirement Guard Duty 101

Retirement 101

By Dennis Miller I was just a kid—barely wet behind the ears. At two minutes before midnight, the sergeant of the guard and I marched onto the runway tarmac. Following protocol, I formally relieved the previous guard of his post. This was … [Continue reading]

10 Ways to Screw up Your Retirement

Retirement Planning

By Dennis Miller, Senior Editor, "Miller's Money Forever" There are many creative ways to screw up your retirement. Let me show you how it’s done. 1) Supporting adult children-- My wife Jo and I have friends with an unmarried, unemployed … [Continue reading]

Everyone Can Learn at Harvard (Infographic)


The Rising Power of MOOCs: Now, everyone can learn at Harvard (or Yale, or…) 3 years ago, MOOCs were an idea. Now…. 5 million: number of students signed on to MOOCs, around the world 33,000: the average number of students that sign up for a … [Continue reading]

How Have Millennials Done So Far? (Infographic)


What Do You Do When You’re 27? Older millennials were blindsided by the recession, and one of the first generations to take out massive debt for school. They are also one of the tech-savviest generations, and attended post-secondary institutions … [Continue reading]

Milestones of Child Development (Infographic)

Childhood development

Your Little Rocket Scientist Welcome to the rapidly expanding world of your child: 90% of your child’s brain capacity develops before age 5… By age three a child’s brain has formed 3 quadrillion connections. Brain development between 0-3 … [Continue reading]

Invest Locally: Washington State

Invest Locally

Every locality has its own set of "Hometown Heroes"  i.e. companies that are based locally that are well known and provide local jobs and services.  By supporting local businesses, you're supporting your community and increasing jobs for those in … [Continue reading]