By Paul Morrone CPF®, CPA/PFS, MSA
I’m now on the other side of the coin for the Father’s Day celebration, and selfishly I have to admit I like it. This year was an anomaly in our house as we had an out-of-state wedding the night before and Sunday was primarily a day to get home and get reacclimated before the week started. Admittedly, both Jill and I were exhausted after a late night at the wedding (congrats again to Jim and Meg who are now cruising around Rome on their honeymoon), so we did not have much of a formal plan for the day. That was more than fine with me. On a day like Father’s Day, it’s not necessarily about what you do, but more about what you don’t do.
Emotions involved with caring for the elderly can seem almost as overwhelming as the finances. As your loved ones age, what topics must you be ready to discuss? Beyond money, you need to talk about independence and basic preferences for the way individuals want to live or die.
First, realize that you’re far from alone. According to the Genworth 2014 Cost of Care Survey, at least 70% of people older than 65 will eventually need some degree of long-term care (national median cost for a private room in a nursing home: $240 per day).
Here are some ideas to get the conversation going:
Buying or selling a home is one of the most significant financial transactions many individuals engage in.
There has been a lot written on tariffs over the past few months as news regarding the trade war with China continues to develop. On another trade front, President Trump threatened to impose 5% tariffs on Mexico but later dropped those plans as a deal was reached regarding immigration. Trade should remain in the news as President Trump and Chinese President Xi are likely to meet at the G-20 summit in Japan later this month.
By Rick Ropelewski
First of all a huge thank you for everyone’s words of encouragement and support during our daughter Molly’s senior year of high school and her college search. I realize there are countless people with far more significant challenges than applying to college, but in our insular world this was quite a year!
Your company is ripe for sale. Now what? These days, your children or employees may not necessarily want to take over your business, but you still want to sell your business. So, what’s a successful entrepreneur to do? Find a buyer, of course. Many savvy business owners know that nothing as monumental as selling a business should be done quickly. Read on to learn some helpful pointers for formulating your exit strategy.