Hi all, Belated Happy New Year everyone! I am a 32yr old single mother of a beautiful 1yr old, and this year I’ve decided to plan ahead to help me fulfill my parenthood responsibilities to the best. We are a US middle-class family of two. Originally not from this country, I need to research several important aspects of planning for a future here. I hope to get some useful suggestions from those of you who are savvy about these things :-) [more inside]
I'm seeking as many opinions as I can get from people with knowledge of financial advising and/or trusts & estates and/or estate planning, about what my parents (in their 80s) ought to do with their $250,000 in liquid assets. I'm NOT looking for the kind of detailed plan we'd get from an advisor whom we hire; I'm looking for short, quite general, common sense answers (such as "These ONE OR TWO types of instruments are good/bad; all others are to be avoided/considered.") I'm also looking for as many answers as I can get. In order to get that assortment of answers, I want to disclose only a very few specific things about the folks: 1. they currently rent an apartment; they do not own a home. 2. they are in their 80s--relatively healthy and can drive, shop, take care of themselves, but I'm not sure how long that'll last. I'd like to see them in a retirement community within a couple years. 3. Their only income (which doesn't amount to much) is social security. 4. They lose about $2,100 in total expenses every month. That's just about equal to what they take in each month. 5. Their one and only significant asset is a liquid $250,000. Okay, at their age, and considering all the above, WHAT IS/ARE THE MOST PRACTICAL THING(s) THEY SHOULD DO WITH THAT LUMP OF LIQUID MONEY? THANK YOU from their worried adult child with a family of my own!
So, I'm trying to get some opinions here: My fiance and I have been engaged for 4 months and are in our mid-20s. We are both in school (undergrad for him, grad for me), but due to my income, we wanted to wait one more year, so that it would be financially better for us (e.g., paying tuition, etc). We are both interested in having children, however, something has come up for me health-wise (ulcerative colitis) that would make it less safe (because of medications) to have a baby later on, compared with now. Here are my questions for you: 1) Would you have a baby before marriage? What would be the reasons? 2) Has anyone actively planned this before? How did it work out? I know some would say suck it up and push up the wedding, but it would save us a good 20K or so.
When to have Baby #2? (Welcome to my personal/professional snowglobe.) [more inside]
According to Representative Mike Pence, Planned Parenthood is the largest recipient of federal funding under Title X. Who's the second largest? [more inside]
My Aunt, Uncle and cousins have never been good with money, and have also never had well paying jobs. My Uncle has just inherited a (low) six-figure sum. Do I try to help them out by offering to build a financial plan for them? [more inside]
How can I feel more optimistic about my life goals and ambitions? (fairly long) [more inside]