IT IS INEVITABLE that people will see a decline in their financial skills and decision-making ability as they age. No one is exempt: Everyone experiences normal cognitive aging in their later years, which in turn affects various financial skills. The degree of cognitive decline and its effect on specific financial skills varies by… Read More
Most of us do not give it another thought and simply assume we can contribute to an IRA if we meet IRS income criteria. But what if your only source of income is alimony? Guess what – the new tax law changes
may just eliminate your only means to save in a retirement… Read More
Your Money & Your Brain by Jason Zweig looks at neuroeconomics, which is research using brain activity, economics, and behavioral psychology to study how we make decisions.
The main focal point is how the brain affects financial decisions but it’s obvious the material goes beyond money matters. It’s equal parts scary and… Read More
is quoted in a recent article by Tom Anderson for CNBC's 'Your Money, Your Future' on how to handle adult children moving back home. Lili
says, “Create a spending plan and timeline. The plan should include how expenses are shared, what savings will be tapped to pay for additional expenses and how, if possible, those savings will be… Read More
For many years there has been no means by which to save tax-deferred money for a child with disabilities without placing at risk their government entitlements. But in 2014, Congress created Achieving Better Life Experience (ABLE) accounts.
Prior to the creation of the ABLE accounts, individuals with disabilities who were eligible for Medicaid… Read More
Parents often face the competing challenge of funding their children's college or their own retirement… Read More
In this article published in Bloomberg News, Lili Vasileff contributes to a discussion of the state of information sharing in marriages -- especially when it comes to financial details. Lili says, ‘‘Most couples don’t share fully financial details about private accounts, the nature of investments, or the amount of… Read More
Divorcing couples can face enough agony as it is dividing up possessions and agreeing on custody of children, let alone splitting retirement assets.
Yet that nest egg often represents a divorcing couple's largest pot of money. And if the process for the division of those assets is not done properly, there can be a steep price to pay in taxes,… Read More